Becoming and being an entrepreneur is one of the most rewarding AND most challenging things you can do/be. If you want to start or grow your business or advance your career, then a mastermind group is going to propel you so much faster than doing it on your own.
Masterminds have been around for decades but they are now just becoming more popular. As more and more people are becoming entrepreneurs, the need for them has grown. Our culture has also become much more collaborative in recent times.
Napoleon Hill was one of the first to actually write about the use of mastermind groups in his book Think and Grow Rich (1937), one of the most recognized business books around.
So What is a Mastermind?
For those that are not familiar with the term, a mastermind is when two or more minds get together in a spirit of harmony and understanding, as stated by Napoleon Hill, then a third mind is created. A mastermind!
The intention of a mastermind group is to bring together a group of peers to help each other solve problems and to develop themselves through advice and input from each other.
How does a Mastermind Work?
A group of people get together on a regular basis to discuss their business, challenges and any other topics that the group defines. In today’s world, these can be as simple as meeting online to as elaborate as flying to a luxury resort to meet several times per year.
The premise of a mastermind is that everyone is there to help others and to be helped themselves. It is a two-way exchange of information.
A mastermind group allows you to work ON your business instead of IN your business. The only way to grow and scale your business in a profitable way is to work ON your business. In a perfect scenario, a mastermind group will be made up of like-minded people. Everyone comes to the table with their own unique perspective which will help expand your mind and perspective.
Mastermind groups also come with high vibrational energy which propels itself through everyone in the group. Positive attracts positive!
Mastermind Groups Can Serve Many Purposes
First and foremost, they can empower each other to set and crush powerful goals! This happens through the collaborative environment of brainstorming and sharing new ideas.
These groups can be used for improving personal or business skills and help you grow in all areas of your life. Often mastermind groups provide a very supportive environment for the participants to work on areas of themselves such as mindset and limiting beliefs.
Mastermind groups can provide accountability! When you are in a mastermind group, everyone is committed to serving the group as a whole and each individual. The intent is that everyone succeeds.
Styles of Masterminds
The one I am most familiar with and use in my own mastermind groups is where individuals can bring their business challenge to the table and then everyone helps them find the solution. Other groups can be based on specific topics or categories that are preplanned.
Masterminds can be simple to elaborate and can be very expensive or even free. There is a mindset principle of charging for the mastermind as people are more apt to make a full commitment when there is money involved. Remember this is about making progress…not just taking on another “thing to do”. Commitment is key to a successful mastermind group.
If you want to take your business to the next level, or perhaps even start your first business I suggest you join a mastermind group!
When a group of like-minded, committed people get together amazing things can happen.
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