Triple Tip: Mastermind Groups

Mastermind Groups, coined by Napoleon Hill nearly 100 years ago, are exclusive groups of like-minded individuals who meet consistently over a period of months or years. The structure of masterminds can vary, but the primary goal tends to be the same: Help fellow members tackle challenges by sharing experiences and offering input. These groups can be incredibly valuable because you can learn from others, share your own experiences, and overall, receive consistent support as you grow in your career.

If you think you could benefit from being part of a Mastermind Group, here are 3 things to keep in mind!

  1. Determine your approach. Decide if you want to join a ready-made group or create one yourself. There are two main challenges to joining an existing Mastermind Group: (1) Vetting your options, and (2) Making the financial investment. The main challenge to creating one yourself is getting fellow members to commit, and stay committed over a period of time.
  2. Evaluate ‘fit.’ If you decide to join a Mastermind Group, make sure you jive with the other members. Likewise, if you create your own Mastermind Group, it’s equally important to identify members who are a good fit. Each participant should be as eager as you are to learn from others! Evaluate applicants to ensure that every member brings something unique to the table—ideally, a different perspective than you.
  3. Foster psychological safety. Successful Mastermind Groups create psychological safety, the shared belief that the team (or group) is safe for interpersonal risk-taking. When chatting with potential members, it may be difficult to confirm whether or not they embody psychological safety, but here are a few things to look for:
  • The individual is an active listener.
  • The person contributes to the conversation without taking over.
  • The potential member is equally willing to both ask for help and give help.

Regardless of which route you take—joining a Mastermind Group or creating your own—ensure that the content is rich and stays rich. If you coordinate the group, ask each member to submit a topic they want to cover. And before your first meeting, create mastermind guidelines to explicitly define group expectations. It’s important to make sure everyone is on the same page!

Check out this article and podcast discussing the benefits of a mastermind group.

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