How to Create and Run a Mastermind Group for Maximum Profit

How to Create and Run a Mastermind Group

by Karyn Greenstreet (Copyright © 2004, by Karyn Greenstreet. All rights reserved.)

What is a Mastermind Group?

There is synergy of energy, commitment, and excitement that participants bring to a Mastermind Group. The beauty of Mastermind Groups is that participants raise the bar by challenging each other to create and implement goals, brainstorm ideas, and support each other
with total honesty, respect and compassion. Mastermind participants act as catalysts for growth, devil’s advocates and supportive colleagues.

The concept of the Mastermind Group was formally introduced by Napoleon Hill in the early 1900's. In his timeless classic, "Think And Grow Rich" he wrote about the Mastermind principle as:

"The coordination of knowledge and effort of two or more people, who work toward a definite purpose, in the spirit of harmony."

He continues ...

"No two minds ever come together without thereby creating a third, invisible intangible force, which may be likened to a third mind."

In a Mastermind Group, the agenda belongs to the group, and each person’s participation is key. Your peers give you feedback, help you brainstorm new possibilities, and set up accountability structures that keep you focused and on track. You will create a community of supportive colleagues who will brainstorm together to move the group to new heights.

You'll gain tremendous insights, which can improve your business and personal life. Your Mastermind Group is like having a objective board of directors.

What Will You Get From It?

• Experience, skill and confidence
• 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've been told they "should" be

Who Should Attend?

People who:

• have a similar interest (such as a group for self-employed
• people, or a group for spiritual thinkers, or a group for people in a
• certain corporation or industry)
• have a similar skill and/or success level
• have the desire and inspiration to make this year extraordinary
• want a supportive team of Mastermind partners
• want to reach or exceed their goals
• are ready to let their desire to be passionate about their life
• and work overcome their fear of change

How Does It Work?

Mastermind Groups can meet in person, on the telephone, or via online message boards. For those groups that meet in person or on the phone, typically a once-a-month meeting is scheduled. You can find a Mastermind group here, or learn how to start your own Mastermind
group.

Because of the group nature, a commitment is required. Look for highly-motivated people who are willing to ask for -- and give --help and support.

How Do You Screen Applicants?

Before agreeing to let any new applicants into your group, it’s important to screen them to make sure they’ll fit into the existing group and that their commitment level is high. Decide in advance how many people should be in your group (5-8 is recommended), and only allow new members into the group with the unanimous consent of everyone in the group.

• Do you have a personal or business mission or vision statement?
• What are your five-year goals?
• Where will you find time to participate in the Mastermind Group?
• What is your commitment to moving forward in your business and personal life?
• Why should you be chosen to participate in this group?

Even with a screening process your group is likely to run across people who say that they’re committed but then don’t participate, or who say that they’re honest but then fail to keep the trust of the group. Be prepared to ask people to leave the group who are not participating up to the group standard and do it quickly once the poor behavior becomes evident. A "slacking" member will bring down the energy and fun level for the whole group.

Mastermind Groups create a win-win situation for all participants. New friendships develop and everyone grows because of the support and encouragement of the Mastermind Group.

Eternal Principles That Will Make You Wealthy

WEALTH PRINCPLE:
My income can grow only to the extent I do!

WEALTH PRINCIPLE:
If I want to change the fruits, I will first have to change the roots. If I want to change the visible, I must first change the invisible.

WEALTH PRINCIPLE:
Money is a result, wealth is a result, health is a result, illness is a result, and my weight is a result. We live in a world of cause and effect.

WEALTH PRINCIPLE:
Give me five minutes, and I can predict my financial future for the rest of my life.

WEALTH PRINCIPLE:
Thoughts lead to feelings. Feelings lead to actions. Actions lead to results.

WEALTH PRINCIPLE:
When the subconscious mind must choose between deeply rooted emotions and logic, emotions will almost always win.

WEALTH PRINCIPLE:
If my motivation for acquiring money or success comes from a no supportive root such as fear, anger, or the need to “prove” Myself, My money will never bring I happiness.

WEALTH PRINCIPLE:
The only way to permanently change the temperature in the room is to reset the thermostat. In the same way, the only way to change my level of financial success “permanently” is to reset my financial thermostat.

WEALTH PRINCIPLE:
Consciousness is observing my thoughts and actions so that I can live from true choice in the present moment rather than being run by programming from the past.

WEALTH PRINCIPLE:
I can choose to think in ways that will support me in my happiness and success instead of ways that don’t.

WEALTH PRINCPLE:
Money is extremely important in the areas in which it works, and extremely unimportant in the areas in which it doesn’t.

WEALTH PRINCIPLE:
When I am complaining, I become a living, breathing “crap magnet.”

WEALTH PRINCIPLE:
There is no such thing as a really rich victim!

WEALTH PRINCIPLE:
If my goal is to be comfortable, chances are I’ll never get rich. But if my goal is to be rich, chances are I’ll end up mighty comfortable.

WEALTH PRINCIPLE:
The number one reason most people don’t get what they want is that they don’t know what they want.

WEALTH PRINCIPLE:
If I am not fully, totally, and truly committed to creating wealth, chances are I won’t.

WEALTH PRINCIPLE:
The Law of Income: I will be paid in direct proportion to the value I deliver according to the marketplace.

WEALTH PRINCIPLE:
“Bless that which I want.”—Huna philosophy

WEALTH PRINCIPLE:
Leaders earn a heck of a lot more money than followers!

WEALTH PRINCIPLE:
The secret to success is not to try to avoid or get rid or shrink from my problems; the secret is to grow myself so that I are bigger that any problem.

WEALTH PRINCIPLE:
If I have a big problem in my life, all that means is that I am being a small person.

WEALTH PRINCPLE:
If I say that I’m worthy, I am. If I say that I’m not worthy, I’m not. Either way I will live into my story.

WEALTH PRINCIPLE:
“If a hundred-foot oak tree had the mind of a human, it would only grow to be ten foot tall.” –T. Harv Eker

WEALTH PRINCIPLE:
For every giver there must be a receiver, and for every receiver there must be a giver.

WEALTH PRINCIPLE:
Money will only make me more of what I already am.

WEALTH PRINCIPLE:
How I do anything is how I do everything.

WEALTH PRINCIPLE:
There’s nothing wrong with getting a steady paycheck, unless it interferes with my ability to earn what I’m worth. There’s the rub. It usually does.

WEALTH PRINCIPLE:
Never have a ceiling on my income.

WEALTH PRINCIPLE:
Rich people believe “I can have I cake and eat it too.” Middle-class people believe “Cake is too rich, so I’ll have a little piece.” Poor people don’t believe they deserve cake, so they order a doughnut, focus on the hole, and wonder why they have “nothing.”

WEALTH PRINCIPLE:
The true measure of wealth is net worth, not working income.

WEALTH PRINCIPLE:
“Where attention goes, energy flows and results show.”

WEALTH PRINCIPLE:
Until I show that I can handle what I’ve got, I won’t get any more!

WEALTH PRINCIPLE:
The habit of managing my money is more important than the amount.

WEALTH PRINCIPLE:
Either control my money, or it will control me.

WEALTH PRINCPLE:
Rich people see every dollar as a “seed” that can be planted to earn a hundred more dollars, which can then be replanted to earn a thousand more dollars.

WEALTH PRINCPLE:
Action is the “bridge” between the inner world and the outer world.

WEALTH PRINCIPLE:
A true warrior can “tame the cobra of fear.”

WEALTH PRINCIPLE:
It is not necessary to get rid of fear in order to succeed.

WEALTH PRINCIPLE:
If I am willing to do what’s easy, life will be hard. But if I am willing to do what’s hard, life will be easy.

WEALTH PRINCIPLE:
The only time I am actually growing is when I am uncomfortable.

WEALTH PRINCIPLE:
Training and managing my own mind is the most important skill I could ever own, in terms of both happiness and success.

WEALTH PRINCIPLE:
I can be right or I can be rich, but I can’t be both.

WEALTH PRINCIPLE:
“Every master was once a disaster.” –T. Harv Eker

WEALTH PRINCIPLE:
To get paid the best, I must be the best.

WEALTH PRINCIPLE:
My income can grow only to the extent I do!