What is a Mastermind Group? Everything you need to Know

There are so many different resources for you to learn and better yourself out there on the internet. This has been a really great era for connectivity, but what if we told you that there are even more ways to connect with like-minded individuals? Enter the mastermind group, and if you don’t know what this concept is, it’s time to pay close attention.

Today, we’ll be showing you exactly what a mastermind group is, and break down how this group works. So if this sounds like something that interests you, you’ll definitely want to stick around.

We’ll be going over quite a bit of information today, but don’t panic, because everything is broken down into easy-to-read sections for your convenience. Now, with that being said, here is a look at what we’ll be going over today:

What is a mastermind group?How do mastermind groups usually work?A brief recap

Now that you know what we’ll be discussing, let’s get right into the details.

What is a mastermind group?

A mastermind group is a peer based group that helps you learn through those peers. If this seems confusing, don’t worry, we’ll break this all down in this section. So let’s take a look at what exactly a mastermind group is.

Who came up with the idea?

The term mastermind group was actually coined by Nathon Hill back in 1925. Hill went on to publish a book about the success of his idea, and how great the groups could be for anyone who needs to bounce various ideas off of their peers.

Hill was someone who felt that peers should be able to come together and solve problems amongst themselves. Hill also thought that it would be helpful for peers to hold each other accountable to their goals as well, and that it shouldn’t feel like a class. Hill wanted people to feel connected with one another, almost as if they weren’t alone.

While Hill may have coined the phrase, plenty of millionaires have been using mastermind groups ever since. Plus, now this is something that may shock you, most millionaires actually credit these groups for their success.

What is the purpose of a mastermind group?

A mastermind group is designed to help members solve extensive problems, and to keep members on track with their goals or ambitions. These problems can be either business related, or even personal, and are usually discussed amongst the members during each meeting.

Also, aside from just solving problems, mastermind groups are typically goal oriented. This means that members will actually hold each other accountable towards their goals, and challenge each other to do better.

Think of a mastermind group as a networking group on steroids. Instead of just exchanging contacts, mastermind groups are all about communication between members.

How big are mastermind groups?

There are some pretty huge mastermind groups out there that you can join, and while this may be the case, this is certainly not the norm. For example, most mastermind groups are actually comprised of a handful of people. This is due to the fact that these groups are meant to be personal, and everyone should be talking about their goals and ideas.

Here are some things to look observe if you encounter a large mastermind group:

If the group seems to have one person coaching a bunch of members, chances are this is not an actual mastermind groupIf there are classes each week, or a course description, chances are it’s not an actual mastermind groupNetworking groups are great on their own, but if you notice that a group is only exchanging contacts it’s probably not a true mastermind group

How often should mastermind groups meet?

The answer to this question is entirely up to the preferences of the group. Some mastermind groups meet once per month, and other groups may meet once every week. Therefore, this is something that should be discussed by each member of the group.

Also, everyday is a bit much, so we recommend an interval of at least once per week. This way there is always something new to discuss during meetings.

Mastermind groups are very different from networking groups, and certainly aren’t classes. These are strictly peer-based groups, and the idea is that everyone can help each other crush their goals.

How do mastermind groups work?

Now that you’ve taken a look at what mastermind groups are, it’s time to take a look at how these groups work. After all, if you want to create or join one, you’ll need to know what makes them tick. Therefore, in this section, this is exactly what we’ll be showing you.

Let’s dive right in.

Goals are presented

Usually, every member within the mastermind group will have some time to discuss their goals and ambitions during a meeting. This is where members can begin to open up to their group, and this is how members are held accountable. It’s absolutely crucial that each member of the group has time during each meeting to present their goals.

Weeks are talked about

No matter what you do for a living, or even in your personal life, everyone has their ups and down. This is why mastermind groups focus on helping members expressing both the good and bad aspects of the week. This is what sets a mastermind group apart from a networking group, because it brings that team element into play.

Problems are solved

Everyone has their share of problems, right? Well, as we mentioned earlier, the whole purpose of a mastermind group is to solve those problems. Therefore, every mastermind group should be established in a way that helps solve those problems. It should seem like more of a discussion, and not a coaching session. That’s something we can’t stress enough.

There should always be an agenda

Each time a mastermind group meets, there should always be an agenda. This is a plan for the meeting that will help members stay on track and stay focused. It doesn’t have to be concrete, and it also shouldn’t be run by any single person.

Mastermind groups should never seem like a coaching session, class, or anything else along those lines. A mastermind group only works if members begin to form and build relationships.

Recap

We know that we covered quite a bit of information today, but we want to make sure that you’re very well informed. Mastermind groups can be crucial to your learning experience, and to be quite honest with all of you, they’re incredibly helpful.

You don’t need to sit in a classroom, or even pay a mentor anymore, it’s time to look towards mastermind groups to help you learn. Seriously, there is nothing better than learning and communicating with your peers.

Now that you know the facts, we hope that you’ll be able to take advantage of mastermind groups in the future.

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