For better or for worse, the people we associate with profoundly impacts our behaviour and the quality of our lives. However, we can harness the power of our peers in a way that works to our advantage and one of the most powerful ways to do so is by joining a Mastermind Group.
What Is A Mastermind Group?
A Mastermind Group refers to a group of people who get together on a regular basis to both give and receive support with the ultimate purpose of self-improvement and achieving higher levels of success.
A Mastermind Group can either be held in person or online and is either focused on each individual or on a larger collective based on a common purpose. It also includes a facilitator who is tasked with guiding the conversations.
To ensure the integrity of the group and its members, a Mastermind Group requires commitment, confidentiality, honesty, respect and compassion
The Key To Success
The idea of congregating in a small, focused group isn’t a new idea. In 1727, Benjamin Franklin created a “Junto” which was defined as a club for mutual benefit and improvement. The members of the group “all shared a spirit of inquiry and a desire to improve themselves, their community, and to help others.”
However, it wasn’t until 1925 that Napoleon Hill coined the idea of a “Master Mind Alliance” in his book The Law Of Success. In studying the habits of successful businessmen in the 19th and 20th centuries, Hill realized a major key in their success was that they had formed partnerships and groups to come together to learn.
Since then, the term “Master Mind Alliance” has been shortened and modernized to “Mastermind Group” and the best thing is that anyone can create or become part of a Mastermind Group, both personally and professionally.
The Benefits A Mastermind Group
An engaging and active Mastermind Group can bring transformational change to the lives of its members. Some of the most powerful benefits include:
- Build Your Network ― Members of a Mastermind Group all come with their own contacts which they’ll usually be willing to share. This gives each individual the opportunity to extend their own network by getting introductions to people they would otherwise never have had access to.
- Gain Feedback ― Advice from a spouse, friend, co-worker or boss can be clouded with judgement, undue negativity, self-interest or blind support. In contrast, advice from members of your Mastermind Group will focus on effectively and productively moving you forward toward your goals.
- Build Relationships ― We all want to feel a sense of belonging and we all want to feel like we add value to others. In fact, connection is one of the 6 Human Needs. The nature of a Mastermind Group means it’s the perfect environment to build long-term friendships and relationships.
- Be Accountable ― Stating your goals to members of a Mastermind Group who will hold you accountable will ensure you stay disciplined and focused. In fact, research shows that those who have an accountability meeting with someone they commit to achieve their goals 95% of the time.
- Learn & Grow ― If you’re not growing, you’re dying. A Mastermind Group can exponentially increase the rate at which you learn and grow ― both on a personal and on a professional level. Members can help you solve problems, find opportunities and push you to reach your potential.
- Obtain Specific knowledge ― A Mastermind Group that is comprised of members from different backgrounds and industries will help you fill gaps in your own knowledge base and provide very specific insights that you wouldn’t necessarily be able to get from a book, podcast or video.
- Get Support ― Members of a Mastermind Group will be there through your ups and downs. They’ll help you stay motivated when you experience “failure” and they’ll celebrate with you when you experience success. Knowing they “get” what you’re going through and what you’re trying to achieve is empowering.
A Mastermind Group is a resource for giving and receiving support with other like-minded people with the ultimate purpose of personal improvement.
Having people you can call upon when you need it ― through a Mastermind Group ― is one of the most effective investments you can make. A Mastermind Group is a catalyst for learning and growth, allows you to build your networks and establish and strengthen relationships and helps you make measurable progress towards your goals.