What Are Mastermind Groups and How Do They Work

In case you don’t know…there’s a proven concept that has helped countless people make their fortunes — Mastermind groups.

Ever heard of them? Are you part of one yet?

The mastermind group concept has been around since 1937. It was published in Napoleon Hill’s book, “Think and Grow Rich.” It’s a simple concept, yet delivers tremendous results. 

Many entrepreneurs and visionaries use mastermind groups to achieve their business objectives. 

In fact, do the names J.R.R. Tolkien and C.S. Lewis, Benjamin Franklin or Walt Disney ring a bell? They, along with countless others, were part of mastermind meetings — meeting regularly for nearly 20 years! These meetings helped them master their skill and create their best work.

So, what are mastermind groups and how do they work? 

Let’s take a closer look at the concept that can help put your business on the road to success.

What Are Mastermind Groups?

A mastermind is a group of individuals who meet regularly to help one another achieve their full potential. These groups can have anywhere from 5-25 people, some even having hundreds or more. Each member is loyal, reliable, and dedicated to help one another reach their mission objectives and business goals. 

Sounds simple enough, doesn’t it? But there’s much more to it than just getting together for a chat on a regular basis. 

A mastermind group’s success revolves around setting clear intentions. Often used are various styles of empowerment through community, pooling resources, critical thinking, creative problem solving, goal setting, as well as accountability for oneself and others. 

How Do Mastermind Groups Work?

The infrastructure of each mastermind group is dependent on the founder and the members who meet regularly, whether it be once a month or once a week. The primary goal of these meetings is to, together, tackle blockers, barriers, and any other challenges that may arise. 

Members intentionally strengthen their relationships and come together to support one another. 

Groups often meet in person or through video calls. They actively listen, provide advice, consult, support, share their connections, and actively work to solve each other’s challenges. 

Picture a mastermind as a safe, secure, private think-tank or peer-to-peer mentoring where the whole group becomes stronger than any one individual. A true game-changer in business where historically many people try to do everything on their own. 

How can a focused group of people make such a big impact?

It all boils down to who is in your mastermind group and how they’re working to solve your blockers and barriers. 

It’s All About Group Members

Anyone can call up a few people and start a mastermind group. However, an effective group has to have the right people to help you meet your business needs.

To start, you need to know what your business values and goals are. What is important to you? What do you want to achieve? Once you are clear on those answers, look for a group with individuals who have similar business values and goals.

You want a group that is supportive and open to working together to reach clarity. On top of that, you want people who will stay accountable and take action. 

Within the group, a key individual is the mastermind group facilitator. Having a trained facilitator can help guide and run the meetings. They bring their expertise, keep meetings on track, and are a crucial part of bringing out each members’ success. It is their job to help coach, advise, assist, and hold members accountable. 

Are you ready to commit to grow as an individual and advance your business?

Contact us today if you have questions about mastermind groups or are ready to join a group with like-minded business owners. It’s time to take the next step. Let us help you get your business to where you want it to be.