One of my favorite books of all time is “Think & Grow Rich” by Napoleon Hill. I credit the information in this book to “transforming the way I think about success.” One of the principles in this book is the importance of forming your own Mastermind Team. A Mastermind Team is a group of 3-10 (ideal size) people who share ideas about a certain subject. The purpose of the team is to help everyone in the team get better results with what they are trying to do. Here are a few examples of how a Mastermind Team can help you:
- You want to get in shape this year. So, you find 3-5 people who are in tip top shape and you meet once a month (by phone or in person) to share ideas with each other about fitness.
- You own a car dealership. You find 3-5 car dealership owners in different towns (or states). You host a monthly conference call to share ideas about finding new customers, generating more sales, increasing profits, etc.
- You want go on vacation somewhere different. You find 3-5 people who have traveled extensively, and you get together. You let people tell you their stories and you get lots of great ideas of places to go.
- You want to improve the effectiveness of your work group. You want to do a better job managing people. So, you find 3-5 managers (outside your company) and you get together for lunch to share ideas with each other.
I could go on and on, but I hope you are starting to get the picture.
Most sports teams use this concept. They have a head coach and several assistant coaches with subject matter expertise. These subject matter experts advise the coach so he can make better decisions.
Another example is senior Army leaders. All Generals have a staff of subject matter experts. These staff members advise the General of their area of expertise, so he can make an educated decision.
But, you don’t need to be a sports coach or Senior Army Officer to create your own Mastermind Team.
If you are a stay-at-home mom, you could meet with other stay-at-home moms once a month (or periodically) to get new ideas. You can learn better ways to entertain your kids, time management skills, meal ideas, best places to find bargains, or anything else you want to learn.
The secret to forming a successful Mastermind Team is to find a group of people who want to help each other succeed. The success of the group must be the important thing. Everyone must contribute. It also helps if people in the group aren’t your competition. In other words, if you are trying to move up the corporate ladder in your current company, you shouldn’t ask your peers (from the same company) to join your Mastermind Team. In this example, you could find people from different companies to join your group.
You will find that the most successful people in the world have their own Mastermind Teams. If they do it, shouldn’t you? The easiest way to get started is to determine “what” you want to focus on. Once you do that, look for successful people with knowledge on that subject. Invite them to join your group. Meet regularly. Build friendships. Share ideas. The results will be worth the effort. Good luck!
