I have participated in mastermind groups since the beginning of my business. It allowed me to learn from bright minds with different perspectives and from different walks of life. Undoubtedly, mastermind groups have played a key role in my personal life and the progressive growth of my business.
A mastermind group is a group of peers, often with a similar profession or hobby, who gather and provide support, guidance, and advice to one another. Napoleon Hill, the author of the classic book “Think and Grow Rich,” introduced the concept of a mastermind group. He and many others realized that achieving high-level success is a lot more doable with the guidance and mentorship of others.
Andrew Carnegie, a wealthy industrialist who helped build the steel industry. According to Hill, “[Andrew Carnegie] attributed his entire fortune to the power he accumulated through this mastermind.”
Henry Ford, Thomas Edison, Harvey Firestone, and John Burroughs formed the Vagabonds, one of the most famous mastermind groups. Their goal was to learn from other successful people outside of their business to gain new perspectives.
CS Lewis and JRR Tolkein were co-members of a mastermind group they started called the Inklings. What emerged from this literary mastermind group were two of the most well-known and acclaimed novels: The Chronicles of Narnia and The Lord of the Rings.
As you can see, some of the most influential and successful people were at one point a part of a mastermind group. They understood that an important foundation for success is surrounding yourself with people with similar goals. As Hill put it, “Deliberately seek the company of people who influence you to think and act on building the life you desire.”
Accountability– According to the American Society of Training and Development, you are 65% more likely to complete a goal if you have an accountability partner. Setting specific appointments with that partner increases those chances to 95%. This is exactly what you get in a mastermind group: an organized space and time to be accountable to yourself and others for your goals.
New Perspectives – Aaron Walker, business and mastermind coach, shared on my podcast that he would often bring what he believed were great ideas to his mastermind group. The group would bring to his attention obstacles and hurdles that he was completely unaware existed. Masterminds will help you recognize your blind spots and plan accordingly.
Enhanced Skills – Mastermind groups consist of people with different skills, experiences, strengths, and weaknesses. Through routine communication and problem-solving, you will find yourself adopting new skills and strengthening your weak spots. When done effectively, you will never leave a mastermind without learning something new.
Feedback – Whether you run a successful company or are still in the early stages of your business, feedback is vital. Masterminds provide you with a group of unbiased, trusted advisors.
Support – This is one of the main and important reasons to join a mastermind group. You will find yourself surrounded by a group of people cheering you on. When you get knocked down, they’ll help you get back up. And when you have achievements of any size, they’ll be by your side to celebrate.
Before joining a mastermind, it is essential to know what your goals are. You have to go in knowing what you want to get out.
I also recommend joining a group of people who are smarter than you. The point of a mastermind is to connect with people with similar goals, but different perspectives, experiences, and skill levels as you.
Masterminds do work. I have seen my company grow every year since being involved in a mastermind group. I am currently in one now, and I constantly find myself learning new things. There are over 35 types of masterminds, and thousands of members reaping the rewards. I guarantee there are mastermind groups filled with people who share your personal and professional goals. Whether you are looking to join or start a mastermind group, get started.
Donald is the host of the popular sales podcast,"The Sales Evangelist". He is the founder of The Sales Evangelist Consulting Firm where he helps small companies develop killer sales process to scale their business and increase growth. Donald is also an award-winning speaker, sales trainer, and coach. He's a big fan of traveling, South Florida staycations and high-quality family time. Donald has a belief that “anyone” can sell if they have the desire and receives the proper training.