Mastermind groups were first described in Napoleon Hill's 1937 book Think and Grow Rich.
Hill provided a definition for it (see article 2 in the e-mail series), but it's pretty convoluted and dense. A much simpler definition was provided by Wikipedia as:
"A small club of like-minded advanced talents who meet periodically for mutual brainstorming/accountability sessions."
Not a bad brief definition. But to fully understand the power in this simple sentence, we need to take it apart. I'll endeavor to not be as convoluted as Hill!
Small: One of the keys for making a group work, since if the group is too large, you can't really keep track of who is truly contributing -- and active contribution should be a requirement for the group, or why bother having them there? There will be much more on group size later.
Club: Simply, a dedication to be part of a group and work together under a set of agreed-upon "rules" or guidelines -- which will be discussed at length in its own section later.
Like-minded: The group should have something in common. They might be "real estate agents" in a particular town. They might be "top commercial property real estate agents, limited to one per area so that there is no competition." The very successful group I founded was "successful Internet-based entrepreneurs." There could, and should, be a common religious, political, lifestyle, business sector, or other interest that ties the members together so there's a strong sense of community.
Advanced talents: On this point, I disagree with Hill. While that's the "successful" part of my group, "success" is a fairly nebulous concept, and can be measured by fame, income, market share, or many other factors. But frankly, a truly useful group could also include "ambitious beginners" who band together to learn and encourage each other toward success, and that could well be your motivation for wanting to start one, and it's a fabulous reason to do so. In that case, though, the group's charter will likely need to evolve over time, and have a way to deal with stragglers: those who don't advance with the rest of the group. Do the more advanced members help them advance? Or are they left behind if they fail (with or without that help)? I'll cover that as we go on.
Meet periodically: The key here is some level of communication. In 1937, this pretty much demanded that members live in the same geographic region so they could get together in person. The Internet has changed all that greatly -- for the better.
Some groups are so tightly focused that you might need to draw from the entire world to get a critical mass of people to make things work. But with the Internet, you can! E-mail allows for group discussions to occur in near-real-time so that people can learn from each other in a timely way.
More likely, there will be thousands of people who will qualify for your group, even if you specify very tight membership requirements, but they may still be spread across the country, or several countries -- and that's OK, since e-mail (or other online technologies) will provide the "closeness" you'll need.
Even with Internet-based groups, though, you may still want to meet periodically in-person to provide focus, "bandwidth" and camaraderie for the group.
Mutual: Groups work best if everyone participates, putting in ideas and help and support, not just getting it.
Brainstorming: The key to actual interaction. The whole idea is to give each other ideas and, most importantly, get synergy by combining ideas.
Accountability: When you make a commitment to someone else, rather than just think to yourself "someday", you’re more likely to actually complete the task. Tasks like "launch the new web site" or "develop the new product" or "quit my job and finally work for myself." If you miss too many commitments, the group will call you on it (and they should!)
Two points the definition left out: There are a couple of important factors not addressed in that definition that I think are important keys to success: First, a successful group needs a strong leader. That's immensely important, and will be discussed at length in its own articles. Second, it needs what I call "buy-in" -- agreement among the members what the group needs to do, and how it needs to accomplish those goals.
Key Concept: Once you understand the elements, Wikipedia's summary definition is the key concept behind a successful mastermind group: "A small club of like-minded advanced talents who meet periodically for mutual brainstorming/accountability sessions." -- which works if you have a strong leader and buy-in from the members.
The word "mastermind" is also a synonym for "genius". I'm particularly amused that in the Myers-Briggs Type Indicator (a personality test often used by job development coaches), an INTJ (Introversion, iNtuition, Thinking, Judgment) is called a "Mastermind". My own personality type happens to be a strong INTJ.
I'm looking forward to your discussion of what makes a strong leader and how that is important to the group.
It seems that one of the first things you need to overcome with a group of this sort would be the competition factor. Many people have an idea for a business, but are hesitant to share that idea for fear that someone else will steel it. Their thinking is that everyone is poised to blast into the market and are just lacking an idea to blast off with, and that their idea is just the one everyone else needs. As a result, their ideas stay safely locked away, never to see the light of day. In reality, the ideas are everywhere. What is lacking are people willing to buckle down and do the hard work of making them a reality.
Cool idea Randy, I look forward to seeing it develop!
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You're totally right, Bill: ideas are a dime a dozen. It's how they're executed that's key, and a good group can help you execute them well. Facebook may not have been the first social media site, but it's #1. Execution! -rc
Randy, kudos to you for this. As I already commented directly, the world would be a much better place if far more people thought in terms of "What can I do to benefit both him and me?", instead of "What can I do to screw him for my private benefit?"
Thank you for beginning this, Randy. I'm 66 years old, and I don't yet know what I want to be when I grow up. I'm looking forward to seeing your articles and learning new things.
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Yeah, 66 isn't that old anymore -- isn't it the new 55? -rc
With great fear and trembling, I set forth on a new adventure in education. I've spent 40+ years in education trying to get INSTITUTIONS and their inhabitants to change (and stop fearing change). Just maybe this will give me one more tool for change.
Thank Randy once again.
Great stuff Randy, and I love your philosophy of generosity. It's so sad how many leaders fear surrounding themselves with sharp people instead of embracing the synergy that comes people taking our stuff and making it better! I'm looking forward to learning and growing!!
Nancy! I'm right there with you....I'm still trying to find out what I want to be when I grow up. And to further that, I've been telling everyone for years that I will have to take a day off to attend my own funeral!
I look forward to reading and learning, Randy! This is fabulous and very much fits what I've been looking for right now. So here we go!
I'm really excited to be joining your group. I find it hard to find like-minded individuals who I feel comfortable sharing my dreams and ideas with, especially the half-baked ones which just need a bit of nurturing to blossom. Sorry for the mixed metaphor.
I've been following you for many years, and am delighted by this new offering.
I have tried Mastermind groups several times, and am now leading one that has been going since January - at 6 months, it is the longest time any group I have been part of has stayed together.
I think one of the differences this time is that this is the first time I am leading the group myself. The other groups tried to run with no leader. So from my own (limited) experience, I would agree that to keep a Mastermind group running, you need a leader.
Another difference I see this time is that this group started after most of us had worked together on a project. We already knew each other before we started the Mastermind. We have been able to add more people, but the core of the group knew each other personally.
I am really excited by this class, because I think there is always something new to learn. I think a good Mastermind is an outstanding way to progress in a chosen field of endeavor, so I want to get better at running and participating in Masterminds.
Years ago (before I retired) I owned and operated a moderately successful real estate franchise (major national chain) in a small town in the USA northwest.
One of the things that happens to a real estate broker in a small town is that one quickly finds out there is no one to talk with and to share ideas with on how to deal with problems unique to that industry or how to grow the business. One can't talk to the agents that work for you because their viewpoint and their goals are very different than that of the broker/owner of the company. And you certainly can't share your latest ideas with your direct competition in the office down the street, because you are both competing for the same sellers, buyers and agents to hire. It is a very lonely position in that sense.
I had read Napoleon Hill's book years before (as a 26 year old) and decided to attempt to form just such a Mastermind group. I started to contact other franchised broker/owners in other small and medium sized towns who were in a similar situation.
I formed the group and we met physically (this was before the internet) every 3 months - four times a year. Each member of our ten to twelve member group took turns hosting the event for the other nine to eleven members. We met at a motel local to the host's office and for three days we shared everything sitting around a conference table. The third day we toured that local office to get ideas on infrastructure, office layout and equipment.
And when I say everything, I mean everything, including agent and office staff personnel problems, sales figures, contracts, legal issues and detailed financial statements. Because we were in separate towns located miles apart there were no issues about sharing everything. Of course we had all signed full non-disclosure agreements so that our trade secrets were not being leaked to our immediate competitors back home. Everybody benefited.
It was amazingly liberating to have peers who fully understood exactly what you were dealing with and had many suggestions ready for solutions that had already proven successful.
I'm a very young 69 now, retired in a tropical paradise and real estate is long behind me (I retired at 54) but I have started a new business to keep busy. It is computer based and is very isolating. I absolutely know there are other persons similarly employed who I could be brainstorming with. I need to do the Mastermind group thing again and I am really looking forward to seeing what you have to share.
Thanks for offering this. Let's get going!
I'm one of those Methodist Ministers who loves and follows True. I was fascinated by your enticing tidbits about this site. Now I'm not only fascinated but I'm excited by your approach. The fact that there is no advertising speaks of your selfless giving nature.
As a clergyperson, I'm not in "business" so to speak, however, the Mastermind groups have all kinds of potential within ministerial circles. Clergy are notorious loners. We all seem to have a Lone Ranger Messiah Complex of one degree or another, which frankly can be detrimental to life and ministry. I see great potential for the principles in just this first overview lesson and how it might change and empower clergy for a new day and a new way of doing and being in ministry, together; learning and growing and being accountable, together. You know it actually sounds quite Wesleyan.
Given the pleasure I have gleaned from This Is True and its sister sites, I am very excited to learn more about this. Thank you for offering it and being so generous with it.
I'm 61 years old and really interested in seeing what this grouping can do.
Randy, et al (nice group shaping up here!) another INTJ here,
Wondering if a MasterMind Group of intelligent folks who all want to improve the world, each in a different way, can work; I suspect "yes" as the answer.
Visualize a handful of people - known to each other - with the disparate interests of: Organic/150 farming, SF writing (about successful societies), rock climbing/teaching same, video production about people/things which enrich daily lives - all bound together by an interest in being open, fair, honest, working hard (aka having fun!)
Vis: driving each other in healthful ways, to improve daily living for themselves, take concrete steps toward goals/improving bits of the world, drawing energy from each other... Oops! got a bit fired up!
I'm gonna be doing some reading and thinking! Thanks to Randy, and to those who've already jumped in!
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Yes, I think any group with a common interest can work, if set up correctly to set expectations and membership criteria, and kept on track by a good leader. -rc
I recently started a small nonprofit pet rescue. I have thought about getting together a coalition of other like minded rescue people who agree to abide by a high set of standards so lacking in the rescue field. Your mastermind idea has come just in time! Thank You
Being 66 and having 34 years experience in my field of endeavor, I am new to the INTJ personality rating. I noticed at least two other references to it other than Randy's. Can anyone tell me where I can find out what I am.
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Online surveys are notoriously inaccurate; ideally, see an experienced practitioner to get tested to see what you are. Meanwhile, Wikipedia does have a pretty good overview article on the concept. -rc
Great concept. I'm looking forward to getting started.
Concerning group leaders, I understand good leadership is a key to a successful group. But how do you get to choosing one without previously knowing the person?
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An interesting question, to be sure. To deal with the chicken and egg question, I pretty much declare the chicken comes first: the leader -- armed with the knowledge from this site -- should be the one who starts the group. -rc
I am very interested in learning how to start a mastermind group in my area. I believe in the power of 2 or more like minded people.
Thank you Randy for this wonderful asset in helping folks grow to become what they can.
Greetings Randy! Looking forward to this. I am 52 and had the end of my 30 year career handed to me by budget cutting types a little over two years ago. After having very slow responses in getting a couple of different ventures off the ground I am really looking forward to finding out about this! Ready to absorb! Thanks for the opportunity!
10 or more years ago I read about Paul Allen funding an eclectic think tank of diverse but free-thinking people. I thought, at the time, that I'd have loved to participate or to watch it work.
There were scientists, dancers, farmers and others. They were together for shorter or longer periods of time and were not giver "jobs", per se, but were asked to find ways to advance either a purpose or a business plan.
I think the idea was, essentially, to recapture the lightning in a bottle that was/is Microsoft or Google and might be "only" a cure for leprosy or a $2 replacement for the gasoline engine in motorboats. The key was success or thinking that could have lead to success.
I recently cautioned my daughter about others stealing her ideas and was suggesting more protection for them. She said, "I won't run out of ideas." I thought about that and kind of smiled. I never have either. I do have to admit that hers might be a little better grounded than some of mine.
Perhaps this will be fun.
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I can tell you my group has been fun, stimulating, and a source of lifelong best friends. And that's all in addition to getting business help! -rc
About 30 years ago I was invited to join a 'breakfast club' of young entrepreneurs all involved in custom remodeling and kitchens in the Norfolk, VA area. Marriage problems and an aversion to accountability led to my leaving the group, but I know it could have made a huge difference in my life.
Now I'm building custom research labs, and thinking of several people I can invite into a group. The Mastermind idea seems intriguing, let's see if I'm as smart as I like to think I am, can't wait to see how we proceed!
Interesting that you make something of the Meyers Brigs scheme. I'm an ENTP and proud of it. Nobody else has their head on straight. :-) I remember the month 48 years ago when I converted to extroversion. Before that interacting with others wore me down, afterwards it energized me.
I think that the P part often leads to inaction and needs a strong T part to push one into doing something even if it is not perfect whereas the J part acts too quickly and needs a strong T part to lead to reconsidering prior conclusions often, especially after they fail in some way. I have other bigotry about S and F but that may be from lack of real understanding.
My brother is the same type as I am and had a wonderful experience when his church group studied "Please Understand Me". The pinnacle was reached when one woman thanked my brother for being how he was. She said her J-ness was well balanced by his P-ness, not noticing the sound of that.
In another sense, this MasterMind stuff is a concentrated dose of what Max Gunther discussed in "The Luck Factor". He said that lucky people tended to talk to everyone, on the bus, in line at the grocery, and so forth. Lots of people came to know their interests, hopes, and dreams as well as how many kids they had and where they last vacationed. All this communication, spreading bread upon the waters, using the spiderweb network, led to unexpected job offers and other such just falling into their laps. This MM engineers that into high powered personal and business development. From JPL, you probably gained a real appreciation for good engineering. The key is that good engineering makes things really work well, not that that is easy by any means.
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I'm mostly amused that INTJs are known as "Masterminds"; I'm not suggesting that anyone needs to be a particular type to lead (or be in) a group. The "Please Understand Me" book is indeed a great introduction to the concept for those who find it interesting. My last boss at JPL was an ENTP, by the way, and the best boss I had during my tenure there. -rc
I think 66 is the new 44
Till now, I've been too busy to stop and work out what I've been doing wrong. Now I have a younger partner running with the ball, I have time to stop and look around. I'm really looking forward to discussing business issues with the group. At age 68 it's about time I worked out how to manage my time better.
I have a idea. 1st I have been in Real Estate for the past 30 years, but I also collect 50's Rock-A-Billy records. I have at least a thousand of them from 1955 (Elvis) to the day the music died in 1959 in Iowa. My Idea is to make CD's for people who like or love that music. They can give me a list of 20 songs and the 1st 10 of them I will put on a CD for them. I ask for 20 because I might not have some song that came out in Nashville and only sold a handfull of records. What do you think? will it work or just another Edsel.
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This is neither a Mastermind group, nor a business plan. This is bootlegging of copyrighted material. -rc
If there any royalties to pay ASCAP or BMI I will pay them. I will write them about how to go about this the right way. I am not trying to cheat anyone out of anything.
I just though that someone might want the song that keeps going through their mind for years.
You have me all wrong about this as I am only trying to help people get their childhood music back.
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I'm certainly relieved to hear that, but it still has nothing to do with Mastermind groups. -rc
I don't think that this is for me. I am 73 yrs old and am not about to assume a leadership position. I was thinking more like a student, with the goal of starting something small and staying there. In addition, I have had some major health issues that would preclude me from taking on anything with long range aspirations.
Anyhow Randy, I wish your students well and I will stay on the sidelines rooting them on.
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Being 73 doesn't prohibit, but yeah, I can see not wanting to jump into such a position, especially with health challenges. But being in a Mastermind group might be hugely rewarding to you, if you can find one that addresses your field. One of my own best members was retired, and doled out his accumulated wisdom in a very profound way during his ten-year tenure. -rc