4 Reasons Why You Should Form a Mastermind Group

Written by By Ryan Grant

Napoleon Hill defined a mastermind group as, “The coordination of knowledge and effort of two or more people, who work toward a definite purpose, in the spirit of harmony.”

The purpose of a mastermind is to help all members of the group achieve success. Four benefits of a mastermind group are brainstorming, education, peer accountability, and support.

What is a mastermind group?

Becoming an entrepreneur or pursuing a passion can be a lonely endeavor. Ideas are “a dime and dozen” and useless, unless action is taken. A mastermind group can be used to explore ideas and the group can help determine which ideas are worth pursuing.

For example, will Twitter, YouTube, Facebook, Pinterest, or Linkedin be the most beneficial for your business? People are on each of these social media platforms for different reasons and knowing how to reach your customers is vital to the success of your business.

Brainstorming

Books, newspapers, the internet, and other forms of media can provide a wealth of knowledge, but experience is one of the most powerful teachers. By participating in the mastermind group, there is education through the collective knowledge and experience of members of the mastermind group. In addition, each member can pursue educating themselves in assigned areas and educate the rest of the group to accelerate learning.

Education

While in our youth, we experienced peer pressure and adults warned us of the negative consequences of getting in with the wrong crowd. But peer pressure can also be used for making positive strides in our lives.

Stickk.com and Gym-Pact.com use peer pressure to encourage users to lose weight, get their finances in order, learn a new skill, or achieve whatever goal they want to achieve.

If you only make a commitment to yourself, you are the only one that can remind you of the goal; if you tell a group of people, they will be there to remind you of your goal.

A mastermind group can intensify the fear of failure of failure and help each member stay committed to their goals.

Peer Accountability

Above all else, the mastermind group is intended to support each individual in their pursuits. If you ever wanted to learn to play an instrument, speak a foreign language, lose weight, or learn something new, challenges occurred. The mastermind group will be there to encourage you in your pursuits and help you reach your goals.

Support

Its been said that you become who you spent time with. Find people who are preferably experienced and passionate in area that you want to build the group around, even if they are your closest competitors.

“There is a lie that acts like a virus within the mind of humanity. And that lie is, ‘There’s not enough good to go around. There’s lack and there’s limitation and there’s just not enough… There is enough for everyone.”

-Michael Beckwith

Now go out and start your mastermind group today!

Who should I form a mastermind group with?