Mastermind Group: What, Why and How

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Mastermind Group: What, Why and How

Post by Tommy Richardson/Performance Coach and Director of Training and Development at Rainmakers

Ever been in a group 5-10 individuals that encourage you to improve in your business and personal life, (raise the bar)? A group that challenges you to reach more of your potential, to reach more of your dreams and goals – a group that supports each other with respect, honesty and compassion? Not many have had that transformational experience!

I give great credit to any success I have had in business or personal life to the mastermind group concept. Through the years I have been involved as a participant and/or facilitator in at least six very powerful groups.

But, first let’s define a mastermind group. “The coordination of knowledge and effort of two or more people who work toward a definite purpose in the spirit of harmony.” Napoleon Hill

The concept of the mastermind alliance was formally introduced by Napoleon Hill’s classic and timeless book “Think and Grow Rich”

Many ask the question why should I be in a mastermind group, what will I get from it? Here are four of the many benefits that I have seen participants receive.

  • Ability to tap into the knowledge, skill and experience of others. You have your own board of directors.
  • Accountability and real progress in your business and personal life.
  • An instant and valuable support system.
  • A boost in your positive/optimistic attitudes.

These are just a few of the great benefits of being a part of a mastermind group.

Mastermind groups are very diverse in their approach i.e. time, follow up, location, resources and investment. My experience and the ones who have been the most successful meet at least once a month for 1.5-3 hours. They have an experienced facilitator/coach. They have some interactions between group meetings. They are selective with the participants they allow to become a part of their group. They must be committed to growth, attendance and willing to share with fellow members.

Could you benefit from a mastermind group? Rainmakers has a mastermind group that meets monthly. Tell us what you’re looking for here.

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