“No two minds ever come together without thereby creating a third, invisible intangible force,
which may be likened to a third mind (the mastermind).”
–Napoleon HillNapoleon Hill described the concept of a mastermind group in the 1900 classic, “Think and Grow Rich”. In this book, he described the incredible power of like minded individuals joining together to brainstorm, support, and implement goals. Since then many successful individuals have harnessed the power of mastermind groups to achieve great success.

Components of a Mastermind Group

In its simplest form, a mastermind is a group of people who agree to meet at a predetermined frequency to discuss their goals. Some mastermind groups are informal and others are very highly structured. One member may be designated the leader or members may share the leadership role. However, they all share several key components.

A mastermind group benefits their members through the following:

• being supportive and respectful of each other
• setting and achieving specific goals, either personal, professional, or both
• providing constructive feedback to each other
• participating in the group fully and regularly
• challenging each other to raise the bar
• confidentiality

Mastermind groups are usually geared towards increasing professional success but they are not a networking or referral group. Members may share leads and resources but the main objective is not to refer business to each other. They are also not a training program although there may be an educational component to some meetings. Speakers may be invited to teach a specific topic but the emphasis is on the sharing that occurs among the group.

The mastermind group’s combination of accountability, brainstorming, education, and support, has taken many forms from the traditional success group that Napoleon Hill envisioned, to support groups such as Alcoholics Anonymous. It is truly a versatile medium that can be adapted to the needs of its members. This ability for customization makes starting a mastermind group a versatile tool for personal development.

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