How does a Mastermind Group work?

ben francia | by Ben Francia | Last Updated: February 26, 2013

how does a mastermind group work

A Mastermind group is no rocket science; it’s not very difficult to understand how it works. As I mentioned previously, it is more like a company’s advisory board where a group of people discusses on ways to achieve a definite goal.

One Mastermind group can differ from another. The classic example is Andrew Carnegie’s Mastermind group. It was solely directed at his personal vision of building a steel empire. They conduct regular meetings to discuss business ideas as well as challenges and come up with solutions together.

Meanwhile, another type of Mastermind group is when all the members meet to support one another to achieve a goal under one main purpose. There is a lot of this kind of mastermind group but often times it is called differently. Like an Alcoholics Anonymous meeting for example, here members come together and support each other in their path to sobriety.

Mastermind Groups have regular meetings as often as every week or twice a month. In these meetings, members share to the group their goals and challenges. At the same time, members provide mutual support in the form of feedback, advise, encouragement, and inspiration. They also collaborate to attain each member’s goals. And most importantly, all members are held accountable for the goals they declare.

These are how most Mastermind groups work. At times there will also be facilitators to help out the group be on track and to make sure each meeting remains productive.

The whole idea of the Mastermind group is actually quite simple. And it can help entrepreneurs a great deal. At times, the members form a sense of camaraderie and even earn new business partners, making it a great way to open new business opportunities.


P.S. I recently started the Digital Entrepreneur Mastermind Club to help Entrepreneurs who want to start an online business and how to take advantage the power of a Mastermind. Check it out when you get the chance ==>>

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