#033 - What is a Mastermind?

The topic of masterminds is huge and seems to be a big buzz word nowadays. Everyone should be a part of a mastermind.

The concept isn’t new. Napoleon Hill is credited for coining the term “mastermind” in his book 1930’s book Think and Grow Rich.

He defines it as “The coordination of knowledge and effort of two or more people, who work toward a definite purpose, in the spirit of harmony.”

He goes on to say, “No two minds ever come together without thereby creating a third, invisible intangible force, which may be likened to a third mind [the master mind].”

In the strictest sense, a true mastermind is a group that offers a combination of education, brainstorming, and peer support and accountability. Usually it’s a small group where members sharpen their business or personal skills and challenge each other to achieve lofty goals. There’s a facilitator, but they shouldn’t be dominating the conversation. Everyone participates equally. Everyone in the group benefits. There’s confidentiality so members may share with total honesty and openness. It stimulates creative thinking and guides your decision-making process.

Belonging to a mastermind takes a commitment and challenges you to get out of your comfort zone, allowing you to grow. It’s worth it because you are lead and nudged forward in a way in which you can’t achieve on your own.

Although belonging to a formal and structured mastermind group is important, I believe the masterminds effect can come in different forms. Most say that a mastermind group isn’t coaching, a class, or networking. But I believe there are elements of coaching, classes, and networking where you can achieve a sense of that “third mind” Mr. Hill speaks about.

The invisible intangible force comes from relationships with individuals that help propel us forward. On one level, what starts out as a simple exchange of business cards in a networking meeting, could lead to added conversations and connections which allow you and your business to grow beyond what you could do on your own.

This third mind concept comes from sharing ideas, coming up with solutions, and having a sense of accountability allowing you to go beyond what you can accomplish on your own.

I do hope you enjoy today’s podcast episode where I share where I’ve found the mastermind concept in my life. 

Have you read Think and Grow Rich by Napoleon Hill? If not, I encourage you to grab a copy. What does “mastermind” mean to you?

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