Business Mastermind Groups

What is a MasterMind Group?

The concept of Mastermind Groups was first introduced by Napoleon Hill in the early 1900′s. In his timeless classic, “Think and Grow Rich” he wrote about the Mastermind principle as, “The coordination of knowledge and effort of two or more people, who work toward a definite purpose, in the spirit of harmony”.

A mastermind group consists of two or more minds working actively together in perfect harmony toward a common definite objective. In a mastermind group you use the full strength of experience, training, and knowledge of others as if they were your own.

It is a fact no individual has ever achieved success without the help and cooperation of others.

There Are Two Types Of MasterMind Groups

There are two basic types of mastermind groups: One which is focused on the success and vision of one individual or project, and one that is focused on helping everyone in the group.

The mastermind group for business owners and entrepreneurs is designed solely for a specific business project. This type of master mind growth is about the group goal or project and not an individual. For business owners Masterminding can help you model other successful entrepreneurs, make you accountable for achieving your goals, and provide you with your own personal experienced board of directors.

The second type of mastermind group is one where all members of the group are meeting to support one another in achieving a goal. These types of groups are everywhere, but aren’t always named mastermind groups. An Alcoholics Anonymous meeting is a form of a mastermind group, where the members get together to support each other in their sobriety.

What Are the Benefits of a MasterMind Group?

1. Specialized Knowledge: No one person knows it all. People believe not having the knowledge or required education stops you from getting what you want. The fact is no successful individual has become successful because he/she knew everything. They got there through using a mastermind group and the ability to utilize the knowledge and strengths of everyone around them.

2. Definiteness of Purpose: Not everyone knows exactly what they want. And in order to be successful, you must have definiteness of purpose. If you do not know what you want, becoming part of a mastermind group is even more important! Mastermind groups offer knowledge, information, and direction.

3. Infinite Experience: A single person attempting to develop a plan by themselves for the first time has a high probability of failure. This is because they have no hind site or experience to guide them on their endeavors. And even those who have some experience are limited to what they have been taught or learned. Infinite experience is the entire mastermind group’s experience combined. This alone is what you need to formulate a sound plan, put it into motion, and succeed!

How Do You Start A MasterMind Group

The mastermind group can be structured many different ways. You can meet in person if practical. You can meet via teleconferences or web casts. You can meet once a week, once a month, or even once a year. How and how often you meet depends upon what’s practical and what is needed to keep the all group members on-target. For those groups that meet in person or on the phone, typically meet once a month. The structure is very flexible. There’s no single template, but the results are the same: one mind connected in unision with other minds to achieve success and abundance.

When creating or joining a mastermind group, it is crucial to establish a clear-cut sense of purpose. Everyone in the group must buy into the purpose. It is critical to the group’s future success. If everyone in the group had a different expectation, disaster would be inevitable. The 5 Who and How are the guidelines to use. Who will be members of the group? What is the group’s main purpose? What is our topic for discussion? When, where, and how often will we meet? Why will we meet? How will the meetings be structured? The questions are endless. If the group does not seem like a good fit for you, to another group or create your own.

A mastermind group can consist of just 2 people but I would suggest for greater impact it should be more, but no more that 4-6. You may find these people from among your acquaintances, at conferences, from social or professional networks, or through advertising your desire to be in a group. Focus on choosing your group carefully. You have trust at stake and you need to feel comfortable with the people you have chosen.

MasterMind Group Structure and Guidelines

In setting up the mastermind group structure it’s important that every member learn how to condition their mind to be activated with maximum thinking energy that can empower the group with a higher vibration of thought that will definitely affect the creativity of the group in achieving desired success.

There are 4 major guideline principles that need to be clearly defined when creating a mastermind group.
1. Purpose: Your purpose should be your group’s mission statement. A MasterMind group is not designed for members to solve each other’s problems, but to turn a problem into a solution with an achievable outcome.

2. Intentions: The intentions of the mastermind group need to be specifically defined with a clear understanding by everyone in the group, such as providing support and encouragement to each other; meeting and networking with other like-minded people; benefiting from the experience of others; accountability and support to assist you in moving forward; and brainstorming ideas and problem-solving challenges.

3. Goals and Objectives: In putting your mastermind group structure in place you will need to answer these questions: Why was this group formed? What can each member achieve from being in this group? What is the ultimate purpose in attracting members to join? What specifically would you like to see accomplishing by every member in the group?

4. Setting A Meeting Agenda: The purpose of an agenda should be to help set the tone of the meeting and establish a consciousness of excitement, success, and expectancy. The agenda helps the group to stay focus and on point. With an established agenda it allows for the opportunity to ask for help with any challenges, brainstorming, etc. the exchange of ideas and give each other support.

Guiding MasterMind Principles

All members of a MasterMind group are MasterMind Partners. A MasterMind Partner listens attentively to the requests of group members and supports the members in becoming and achieving all that they desire. A MasterMind partnership is a community of equals. A MasterMind partner is someone who is open minded, good listener and is supportive. A MasterMind partner believes in miracles through the power of one mind working collectively and cooperatively together in achieving mental, physical and spiritual healing where needed in a member’s life.

Njideka “Queen of StressFree Living” Olatunde a renowned Health and Wealth Strategist provides “Free” Teleseminar trainings on how to set up a CashFlow MasterMind Network go to http://www.thehealthwealthconnection.net and sign up.