This is post #29 from the 30 Day Personal Finance Challenge: Boost Your Financial Health with a Daily Tip!
Napoleon Hill introduced the concept of the Mastermind in the early 1900s in his timeless classic Think & Grow Rich. The concept was inspired by Hill’s careful analysis of more than 500 exceedingly wealthy men over a period of 20 years – Andrew Carnegie, Thomas A. Edison, Henry Ford, Theodore Roosevelt, and John D. Rockefeller to name a few, who attributed their entire fortune and success to the Mastermind group.
What is a Mastermind
Coordination of knowledge and effort, in a spirit of HARMONY, between two or more people, for the attainment of a definite purpose. – Napoleon Hill
No two minds ever come together without thereby creating a third invisible, tangible force – a third mind.
When a group of individual brains are coordinated and function in HARMONY, the increased energy created through that alliance, becomes available to every individual brain in the group. – Napoleon Hill
You too can harness the power of the Mastermind! There is nothing more powerful than forming an alliance with like-minded people towards achieving a common goal.
How the mastermind works
A group of smart, friendly people meet regularly to tackle challenges and problems together. They lean on each other, give advice, share connections and do business with each other when appropriate.
- The Mastermind raises the bar by challenging each other to create and implement goals, brainstorm new possibilities. It sets up an accountability structure that keeps you focused and on track.
- Occasionally you will receive feedback, outside view, or/and a kick-in-the-butt.
- It will make you think bigger. Being in a Mastermind will truly give you a Mastermind! You can’t help but think bigger and stretch beyond your boundaries when you surround yourself by amazing people doing amazing things.
Synergy of energy
- You may borrow and use the education, the experience, the influence, and perhaps the capital of other people in carrying out your own plans in life. It is the principle through which you can accomplish in one year more than you could accomplish without it in a lifetime if you depended entirely on your own efforts for success.
- Your network expands with the networks of the Mastermind.
- You may find someone in the group that is a perfect fit to work on a project with you. Or, you may be the perfect person to help another member as well. The group works together collaboratively, to achieve more together.
- When you join a Mastermind, you will most likely find ways to help each other by utilizing cross-promotion. Finding ways to help each other through promoting to your respective networks.
- Everyone in the Mastermind is unique in skill, experience, and connections. By interacting and sharing your challenges, it’s almost certain that someone in your Mastermind will have a solution for you and you may also be able to offer a solution, connection or tactic to help another in the group.
- The Mastermind creates an environment that nurtures and supports growth.
- You can rely on support with total honesty, respect or compassion. You will be a part of a community.
- Once you involve yourself in a Mastermind, that feeling of being alone pursuing your goal is gone. The other members of the group turn into advisors of sorts and vice versa.
Additional Bonus: It’s much more FUN than trying to achieve something on your own!
How to find your mastermind
- Be clear on your goals and share them openly. This is the most natural way to find like-minded people.
- Check out your local Meetup groups for already existing mastermind groups.
- Join events and meetups where people you can meet potential collaborators.
- If you don’t find an existing mastermind, start one yourself! It doesn’t need to be big – one more person is a good start.
- For your Mastermind, look for the following people: friendly, growth-oriented, willing to share information and networks.
- Start a blog and write about your goals and how you plan to achieve them. This makes you much more visible to possible collaborators.
The forming of the Mastermind won’t happen overnight. Finding like-minded, driven people who you are in harmony with might take a while. But with anything in life – good things take time. Don’t get discouraged, stay true to yourself and your desires, and the right people will show up!