44 Ways to Stay Connected and Be Remembered!
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44 Ways to Stay Connected and Be Remembered!

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7 Ways You Benefit by Joining a Mastermind Group

Napoleon Hill wrote one of the most popular business books of all time back in 1937. It was called Think and Grow Rich, and in the 80 years since it was published, more than 100 million copies have been sold.

Though it was released during the Great Depression Think and Grow Rich remains shockingly relevant for professionals working in the 21st Century. The book was the result of Hill's 20-year study of highly successful individuals who had amassed great personal wealth.

After studying the habits of exceptional people, Hill developed 13 achievement philosophies that lead to success. One of those philosophies was called, "The Power of Master Mind."

That's right...Napoleon Hill invented the mastermind group.

In 2017, professionals are joining mastermind groups like crazy. They have become super popular over the past 10 years even though Hill wrote about them eight decades ago.

What's a mastermind group?

It's a group of professionals, usually about eight to 15 of them, who meet on a regular basis to help each other be more successful in a confidential setting. Leadership can be lonely, because there simply aren't a lot of places you can seek guidance inside your organization without compromising confidential information or admitting your personal weaknesses.

"The Mastermind principle consists of an alliance of two or more minds working in perfect harmony for the attainment of a common definite objective," Hill wrote in Think and Grow Rich. "Success does not come without the cooperation of others."

I benefit from membership in a mastermind group. I'm part of a mastermind group of 52 speakers/consultants located around the world. We're ostensibly competitors, but we help each other be successful. We view the world from an abundance mentality, which means we work together to increase the size of the pie rather than fighting for pieces of a smaller pie. Just today, one member of our mastermind group sent a message on our private discussion forum seeking advice as to how she could better serve one of her clients. Several mastermind members chimed in with ideas.

If you are asked to join a well-structured mastermind group consisting of high-quality people, consider yourself lucky. You should probably jump at the opportunity. Actively and enthusiastically participating in a mastermind group is hand-down one of the single best things you can do to up your game and improve your life. Here are seven reasons why:

1. You're no longer on a deserted island. Once you join a mastermind group, you're no longer alone. Instead, you're part of a confidential group of outstanding leaders. Many masterminds allow only one person per industry. That means you can openly share information without your direct competitors hearing about it.

2. You gain transferable knowledge. The legendary businessman Henry Ford visited a beef packing plant in Chicago many years ago. Ford took great interest in the way workers processed the beef from whole carcasses into small cuts of ready-to-sell meat. As he observed, it occurred to Ford that if the process was reversed, all the cuts would go back together to form a whole steer carcass again. The metaphorical light bulb switched on in Ford's head. "I can build automobiles this way," he thought. Ford returned home to Detroit and promptly created the famous assembly line.

If your mastermind group includes people from different industries, you can learn amazing ideas and apply them to your industry allowing you to jump ahead of your competitors.

3. You constantly learn new things. In The 7 Habits of Highly Effective People, Stephen Covey advises us to regularly "sharpen the saw," meaning we take time to open our minds and increase our skills. Your profession is constantly changing; a mastermind group can help you stay on the cutting edge.

4. You develop better habits. A good mastermind is highly supportive yet also holds you accountable. If you say you're going to tackle a new project one month, your fellow mastermind group members will expect to hear about your experiences the next month. This helps you avoid procrastination.

5. You benefit from a "personal board of directors." A mastermind group functions as your own advisory board. You can go to them and seek counsel for just about anything. Peer-to-peer advising is incredibly powerful because it allows you to get things off your chest, figure out what to do before you do it and discuss possible outcomes before they happen. Just think how successful you can be when you have a group of people who are invested in your success just as you are invested in theirs.

6. You might find new clients. While this isn't necessary an expressed benefit of many mastermind groups, some of your fellow members might be ideal clients for your organization. Mastermind members tend to become friends. They bond together. There's nobody better to do business with than somebody you completely trust.

7. You become more confident. When you have the opportunity to discuss the pros and cons of a potential decision with a group of talented and experienced people, you will carry out your decisions with much more confidence.

While mastermind groups are indeed powerful, don't join one unless you are ready to give it your full commitment. It does require time and effort. If you can't find one that suits your needs, you might just start one yourself!


Jeff Beals is a sales consultant, professional speaker and award-winning author, who helps companies increase their profits and associations achieve their missions. He delivers energetic and humorous keynote speeches and workshops to audiences worldwide. To discuss booking a presentation, go to JeffBeals.com or email at info@jeffbeals.com or call Joni Woodruff at 402.917.5730.



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