“No Great Power and Success can be achieved without The Power of the Mastermind”—Napoleon Hill
In one of the most legendary books, Think and Grow Rich, Napoleon Hill explicitly describes this concept of the Master Mind as “the coordination of knowledge and effort, in the spirit of Harmony between two or more people, for the purpose of attaining definite purpose”.
This principle that two heads is better than one always made so much sense to me, but it was not until I began to study the teachings of Eben Pagan, an online information product marketing Genius, that I really “GOT IT”. Once I learned how to build and participate in a Mastermind (with people FAR ahead of me in business)—it became one of the most profound ongoing business and personal experiences.
What is a MasterMind?
Eben describes it is a group of people that gets together on a regular basis to support each other and to help create success. It is a dedicated group who share similar values, perspectives, and interests, and who understand that the power of the group mind is exponentially more powerful than the sum of the individual minds.
I recently participated in a Program series called “Connected”, coordinated and instructed by Eben Pagan and Dave Logan, communications expert and author of bestselling “Tribal Leadership” and “3 Laws of Performance”. It was an incredible program about “How To Get Access to Anyone, And Build A Powerful, Profitable Business Network”.
One session in particular focused on the art of HOW to create a Mastermind the RIGHT way.
This information is GOLD and I am going to share with you the secrets that not only did I learn, but I have incorporated into my life… and has made a tremendous impact as I started my new business.
7 Steps on How To Start and Facilitate a MasterMind Group:
1. Find 6 other people that YOU will help facilitate a Mastermind. The key here is to find 6 people that are at least 3-5 years ahead of where you are now in business or in your personal life. Remember, you are here to grow to new levels.
2. Contact each of the key players you have in mind. Tell them you are starting a MasterMind Group and that the group will meet once a week for 1 hour or 90 minutes in person. It is important that you tell them you are the facilitator and will handle all the administrative nuts and bolts. Members can just show up—hassle free.
3. Ask a key player if they know someone who they would like to invite. Once you have at least two confirmed Anchors (or strong players), then inviting the others will become easier just by mention the names and credentials of these people.
Consider forming MasterMinds in each area in your life—not just business; for example, start a group that will support your Physical health/fitness goals. I have several mastermind groups.
4. Set up the time/ location. If your meetings are virtual, set up a free conference call number. www.freeconferencecall.com. This is an amazing free service that will host and record your calls.
5. Let everyone know what time the meeting begins and that you will wait until everyone shows up before you begin. This will provide some accountability. No one wants to be that person to hold the meeting up!
6. Choose 1 person who will be the first person to go. Have them state their biggest challenge, obstacle, or roadblock. THEN state their biggest opportunity.
The rest of the group takes the full hour to brainstorm on how to help that person remove their obstacle and to take advantage of their opportunity.
7. Rotate each week the group. Each week ONE of the members is the FOCUS of the Brainstorming his/her biggest challenge and greatest opportunity. Over a 13 week period, each member will have gone through the rotation twice (1 quarter). In a one year time frame, each person will rotate through the group 8 times.
It is that simple. Participating in a Master Mind could potentially be the best action you can take to create change, accelerate growth and success that you never thought possible.
One question that you may have is: How are you contributing VALUE if everyone else is much more evolved and successful than you?
Remember you are the facilitator and organizer of the group. You handle every detail (keep track of time, take notes, record the cal etc) that no one else wants to bother with—that is why they have not initiated a Mastermind. Your contribution is to carefully select the TOP minds and to make sure the meetings run smoothly and hassle free.
The Benefit to you….
You will get to absorb and learn from the brightest minds– all focused on helping and brainstorming for the other members. Not only will this provide a profound business education, you will experience personal growth just by surrounding yourself with people who are much more successful.
A key element here is to consciously connect and associate with people who are already there where you want to go. Every day we are influenced by our peers, advertisements, news media etc. We are conditioned to think, act, and actually be what is happening all around us.
It has been said that you are a reflection of the average of your 5 closest friends.
Odds are that your financial status is the same as the average your 5 best friends. Chances are that your weight is the same as the average of your 5 closest friends.
You literally become who you hang out with. So if you want to become very successful in business, then start a mastermind group with people who are already successful and are making things happen. They will PULL you up to new standards.
So here is your exercise: Plan and execute your own MasterMind Group.
- Identify 10-12 people who are 3-5 years ahead of you that are sharp, proven, and highly successful.
- Call each person and tell them that you are starting a MasterMind and will be the facilitator. Tell them you are handling all the nitty gritty details – they just show up with their brain power.
- Ask each person if they know someone who they would recommend to join the group. Settle on 6 people not including you.
- Start the MasterMind sessions and experience your own personal evolution.
I hope this is helpful for you. Please help out the community by commenting below and share your tips for facilitating a MasterMind. Tell us what your experience has been and how you make it better.
To your Success,
Good post. I have belonged to MasterMind groups in the past and they are great. I like “You literally become who you hang out with” and that is so true. I'm glad I dropped by.
LOL please delete that other comment! I wanted to say great post and great advice. I have been in Multiple Master Minds and it has been an absolutely key component in my success. If you want to truly advance in life and career no one does it alone and a master mind is the top way to accelerate your success.
Peace & Prosperity,
Great post Laura!
MasterMinds are super powerful. My first
realizations of them was when I read 'Think
And Grow Rich”.
When you create the MasterMind, you are
creating an joint mind between all of you that
becomes so very powerful!
Thanks for sharing:)
Thanks, Eric! I first learned of the power of MasterMinds through Think and Grow Rich as well! Part of being in great masterminds are being surrounded with positive leaders and you certainly are the epitome of this! Thanks again, Laura
Great advice. You often hear people say that they wish they could be the fly on the wall in a meeting of the greats. Thanks for sharing a very real way to set up a mastermind that can actually work.
Thanks for writing this post , i find the information that you have shared of great value to the people that i connect with and going to pass this on to my tribe. I look forward to reading more from you.
Hey Chris! Thanks so much for your feedback and passing this on to your tribe! I really appreciate it. sorry for the delay in responding– I have been away this past week in remote areas and have not have access to the internet. I look forward to learning more from you! Laura
Hi Wayne, thanks for sharing your comments. Let me know any successes you have with a mastermind group! I look forward to learning more about what you do! Thanks, Laura
Hey Dallas! how is it going? Thanks for sharing your feedback– sorry for the delay in responding; as you probably know by now, I have been away this week in mostly the wilderness and barely access to internet.
I agree that MasterMinds are truly essential in order to advance in life and career. Thanks! Laura
Hi Freddie! Thanks for sharing your feedback! and I'm glad you dropped by! I am just really getting started with UT and getting to know people– I look forward to learning more about what you do. Have a great weekend! Laura
Hi Laura – Thanks for your information here. I have heard different ideas about how a Mastermind should go. This sounds powerful though intense. Do you announce a termination date with the invitation, like, “This is a 3 month commitment” or something like that or is it open-ended?
Great ideas on master minding! We should all be doing it more often. Thanks for the reminder and the great tips. Learn from people who are more experienced, skilled, and knowledgeable than you are! More minds are better than one–the power of numbers is huge!
This was an excellent post, Laura! I really enjoyed reading it. I’m going to brainstorm about creating one of these. Thanks so much.
Great stuff Laura. I shared your blog with my facebook.com/successfulsmallbusinessmarketing page.