What’s a Mastermind Group?

ben francia | by Ben Francia | Last Updated: February 21, 2013


A lot of people have no idea what a Mastermind Group is. No, it’s not something I invented nor founded. In fact it has been used many times before.

It was Napoleon Hill, author of Think and Grow Rich, who first coined the term Mastermind. He defined it as a

“coordination of KNOWLEDGE and EFFORT, in a spirit of HARMONY, between two or more people, for the attainment of a DEFINITE PURPOSE.”

This simply means a group of people working in harmony in the achievement of a common goal. The group meets regularly and merely discusses their business goals, milestones and challenges, as well as providing support for each member of the group in the achievement of their business goals. The group has no room for drama, only the purpose of advancing towards success and achievement.

Hill got the inspiration for this concept from Andrew Carnegie, a wealthy steel magnate.

“Mr. Carnegie’s Mastermind group consisted of a staff of approximately fifty men, with whom he surrounded himself, for the DEFINITE PURPOSE of manufacturing and marketing steel. He attributed his entire fortune to the POWER he accumulated through this ‘Mastermind,’” says Hill.

And since the publication of the book “Think and Grow Rich” in 1937, the concept of a Mastermind and it’s practice has been a valuable tool for Entrepreneurs in creating success in their business.

An Entrepreneur can benefit from a Mastermind Group in the following ways:

  1. Get a Business “Advisory Board” that isn’t in our payroll.
  2. Have a “Sounding Board” to validate your business ideas and a group that will provide a “reality check” before you jump in to any major business decision.
  3. Be able to tap in to the Knowledge, Skills and Abilities of other members of the group as if they were your own.
  4. Expand your capabilities so you don’t have to face business challenges as a lone struggling entrepreneur.

If you haven’t experienced yet the POWER of a Mastermind group, I highly recommend that you find one that you can join and learn from. Or better yet, consider forming one for yourself and have the chance to hand-pick the members of your own Mastermind Alliance.

I have been doing Mastermind meet ups since 2005 and I’ve personally experienced the tremendous results it can bring to your business – like MAGIC!. Is this for real? Well it actually is, as long as you are willing to pay the price by putting in the time during meetings, being open to feedback and suggestions from other people, and having the generosity to help and support other members of the group in their own businesses.

Do you think you have what it takes to be part of a Mastermind Group?  Better check this link and find out.  https://www.benfrancia.com/internet-marketing/is-a-mastermind-group-right-for-you/

I recently started the Digital Entrepreneur Mastermind Club to help Entrepreneurs who want to start an online business how to take advantage the power of a Mastermind. I’ll be facilitating some of the Mastermind meetings and conduct a couple of FREE workshops as well. Check it out when you get the chance ==>>   https://www.benfrancia.com/internet-marketing/the-digital-entrepreneur-mastermind-club-digientrep/



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