What is a Mastermind and will it benefit you.

What is a Mastermind and will it benefit you.

I have just been asked to make a presentation on what a mastermind is and the benefit from belonging to a Mastermind. I would  like to share this with my Ocala Business Leadership Network

Hi, My name is Helmut Herder I am a business coach and mastermind facilitator.

The word mastermind describes the synergy created when several people come together to combine their efforts toward a common goal. The idea here is that the total energy (in terms of mental power) equals more than the sum of its parts.

There are many different types of mastermind groups that have developed over the years.  Many famous and successful people have been part of a mastermind group.

  • In 1727, Ben Franklin formed a mastermind with twelve tradesmen, named “The Junto”
  • Henry Ford, Thomas Edison, John Burroughs, and Harvey Firestone formed the Vagabonds Mastermind group in the early 1900 hundreds.
  • In the 1930’s The Inkling was a mastermind group that included writer C.S. Lewis and J.R.R.Tolkien.
  • Warren Buffet started the Graham group in 1959 with other business leaders.
  • Carnegie, the steel-tycoon knew nothing about the steel industry. He built his empire by tapping into the knowledge of others.

The mastermind group that I will refer to in this article is based on Bestselling author  “Napoleon Hill’s” book:

 

“Think and Grow Rich”

Hill says one of the keys  of belong to a mastermind group is the principle through which you may borrow and use the education, the experience, the influence, and perhaps the capital of other people in carrying out your own plans in life. It is the principle through which you can accomplish in one year more than you could accomplish without it in a lifetime if you depended entirely on your own efforts for success.

His model of a mastermind has had a significant impact on me and brought success in my Life.

Being a business owner or entrepreneur has lots of :

 

ADVANTAGES

However, it can be a  LONLEY & FRUSTRATING ENDEVER.

 

Often entrepreneurs have no one to challenge them or push them in the right direction

 

Here is what a Business Mastermind will do for you.

 

  • Your Mastermind colleagues will help you brainstorm solutions to solve a problem and give you feedback to get unstuck
  • They will keep you focused and hold you accountable and challenge you to set and achieve bigger goals.
  • They provide support to help you move forward, thus shorten your learning curve by sharing knowledge and insights.
  • Tap into the experience and skills of others, including the Facilitator
  • Increased confidence that you have made the right decisions and are taking the right actions to achieve your goals
  • Accountability and real progress in your business and personal life
  • An instant and valuable support network
  • A sense of shared endeavor – there are others out there!
  • Design things to be the way you want them to be, not as you have been told they “should” be
  • A boost to your everyday positive mental attitude
  • Synergy = The total is greater than the sum of the parts 2+2= 5
  • If you are doing nothing you will stay where you are

 

ANOTHER way of saying it

 

  • Would you like to speed up your growth & success and have success as defined by YOU? You can leverage the experience and knowledge of other business owners? As a leader, you must be able to overcome challenges, solve problems, and handle the crisis. In a mastermind, you are surrounded by like-minded people that are going to provide you with support and accountability. No more struggles to being alone. No more fears of not knowing what to do next. It is a place of trust, security, and confidentiality.

 

Get ahead of the curve and set yourself up for success throughout your life

 

The Key in a Mastermind is the Hotseat

 

This is what the Mastermind group requires of you:

 

  • commitment
  • confidentiality
  • willingness to be creative
  • smart brainstorming for ideas/solutions
  • treating each other with total honesty and respect
  • professional support by a skilled mastermind group facilitator
  • Mastermind group members act as catalysts for growth, offering unbiased input, intelligent questioning, experience, and skill sharing, and support for their colleagues.
  • This is the essence and value of mastermind groups.

 

 

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