No two minds ever come together without, thereby, creating a third, invisible, intangible force which may be likened to a third mind. “Napoleon Hill”
Have you ever been a member of the mastermind group?
I would say – definitely yes. You have participated in mastermind group work without even knowing it when you were having a meal together with your colleagues and talking business.
Alternatively, when planning an evening out along with your friends and weighing the pros and cons of the cinema, pub or aquapark.
Mastermind group in the company deals with just the same philosophy.
What Is A Mastermind Group?
A mastermind group is a unity of two or more people sharing the common objective and seeking the most optimal ways to solve a problem or adequate measure to prevent and control business emergency.
Also, the mastermind group concerns horizontal mentoring implemented to help staff members to overcome their difficulties with advice or offering a harmonious environment that contributes to the effective discussion.
The concept of the mastermind group was developed by Napoleon Hill, the author of bestselling books “The Law of Success” and “Think and Grow Rich”.
For decades it has become a popular law of success attractive more and more followers in different spheres of life.
Let’s try to analyze the advantages of a mastermind group and find out how to run it.
What Are The Benefits Of A Mastermind Group?
Mastermind group has many advantages on the way leading towards a successful decision. They are the following:
• Mutual support. A member of the mastermind group is not lonely anymore while struggling for positive results. You are a member of the community, and you can rely entirely on other participants. Keep in mind; they need you just like you need them. You together create a group where everyone is important and can get support even despite previous unfortunate individual experience.
• New resources. Every participant is unique in his/her experience, skills, a way of thinking, working relationship, awareness, and psychological aspects. When you come together, you can obtain much better results, perform assignment faster and show more efficiency complementing each other.
• Different points of view. Analyzing the problem from different points of view, you can notice aspects that were previously hidden. Do not be afraid to disagree with your colleagues’ ideas. Be attentive and soon you all together will disclose new approaches and new possibilities to act in the most optimal way.
• Part of an exclusive community. Being a member of the mastermind group gives you a sense of belonging to an exclusive community with a common objective. Exclusiveness increases your self-confidence and extends a set of professional instruments you can apply. Besides, you apparently see an increase in business links.
• Personal development and learning. New ideas and methods of work contribute to your personal development significantly. In the future, facing the same challenge, you will have validated scheme to follow.
• Honest feedback. The close relationship of mastermind group members makes it possible for you to open up and not escape from honest responses in comparison with official context when all are cautious and formal. The more important, you will receive not only exceptional business ideas but critical insights about yourself. It may be scary to some extent, but in the long run, it will bring you more strength and eliminate some complexes if you’ve got them.
• Extra energy and positivity. Work in a group helps you develop a new wave of energy even if you were previously exhausted or lost hope to find a solution. Common success improves your mental state and the objective achieved will encourage you to new achievements.
If you find yourself weak or if you reached a deadlock, you need the support of others. An easier way of doing this is to surround yourself with a mastermind group.
However, to make the mastermind group effective and get as much advantage as possible you have to know that there are certain rules that must be followed.
Mastermind Group Rules
Here are thirteen rules for the success of the mastermind group:
• Homogeneity and reflection to objectives. Common objective determines the status of participants, for example, business owners, project managers or unit staff.
Unexperienced newcomer or a person who does not share the group commitments will not be significantly valuable as it is important not only to get but to give as well. But some impartial diversity occurs in the mastermind group.
To find out the nonstandard approach to solve a complex problem, the group members should possess different background characteristics. Since the group includes only men or middle-aged women, you will not generate radical and unconventional ideas.
• Set ambitious goals. You are a group of professionals in a certain sphere. Do not neglect the experience, practical skills, and possibilities of the participants that can solve the biggest goal if correctly used.
• The regularity of meeting. Regardless of the objective, mastermind group members should meet on a regular basis. Duration of the session may vary taking into consideration the difficulty of assignment to be solved.
• Equality. Every group member has peer status and obtains a possibility to express his/her point of view.
• Agenda. It is essential to report the agenda in advance in order to benefit as much as possible from meeting itself.
• Facilitating. All participants are equal, of course, but the group will take advantage if there is a facilitator. This person develops the agenda, watches the equal participation of all members and records the results of the discussion.
Also, the facilitator can and, indeed, should express their ideas the same way as others. You should not overburden only one group member with formal obligations, and the role of a facilitator can spread from person to person.
• Group size. Mastermind groups can be different in size and vary from 5 to 30 members. However, remember, the more does not always mean the better.
Due to the big size of the group, some people will not have the possibility to speak, or they will fail to participate equally.
Moreover, if the group is small, it will be much easier to promote one idea and approve it without comprehensive analysis.
• Voluntary participation. Do not make anybody to join your mastermind group. It should be on a voluntary basis. Personal wish and interest are the most powerful instruments.
• Sincerity and openness. Do not escape to speak sincerely and openly. It creates honest and true relations.
• Confidentiality. You should not share the information obtained from the members outside the group. It applies to business ideas and personal data.
• Responsibilities. The group participants should have some responsibilities and follow them. This can improve group efficiency. And vice versa, breaking the rules or being absent without an excuse will lead to group weakness.
• Easy communication channels. Make your communication comfortable for all group members. If it is necessary, do not refuse setting up a video chat or use social network platform to spend the meeting time effectively.
• Draw a conclusion. Do not finish the meeting until the conclusion reached. At least, generate an interim solution if the task is difficult.
If you want to be surrounded by like-minded people driven with the same idea, it is an excellent reason to join an existing mastermind group or create your own one.
How Do I Start a Mastermind Group?
When you have decided to run your own mastermind group; follow these easy steps:
• Choose a topic or aspect which you want to develop.
• Invite incredible people to become group members.
• Approve group rules to make the work comfortable and productive.
• Decide on meeting time and format for discussion.
• Facilitate during the meeting to encourage discussion and create conditions for a comfortable environment.
• Do not forget about logistics (meeting space, snacks, office equipment, etc.).
• Monitor the progress and remember that solution is your desired outcome.
Thus, you see that the mastermind group is a perfect technology that can improve your business results.
Good mastermind group will help all of you to fulfill your goals and enhance confidence in personal success.
And, of course, it will provide you with new energy to achieve big goals and will make your routine activities more interesting.
Your Thoughts and Strategies?
What do you think? Have you start a mastermind group before? Do you have some tips to share, or perhaps pitfalls to avoid?