Joining a Mastermind group can be the single greatest decision you ever make for up-leveling your life. A good mastermind group can help you to achieve success in every important area of your life. Something amazing happens when a group of like-minded and success-oriented people get together to accomplish great things, both individually and as a group.
Defining A Mastermind Group
While the term “mastermind” is a strange one, it is one that is accepted to describe a group of like-minded people who come together for a purpose. The term originated from Napolean Hill who wrote one of the most influential books in the personal development space: Think and Grow Rich.
As Hill puts it, a Mastermind group is, “A friendly alliance with one or more persons who will encourage one another to follow through with both plan and purpose.”
The way we see it, we believe that a mastermind is not just a term, it is an eco-system. It is an environment created by like-minded peers who have common interests and goals to improve along a similar path. A tribe of people who come together regularly to create experiences, set goals, collaborate, and hold each other accountable to massively improving in all areas of their life.
A good mastermind group, because of the similar values of the members, will often create its own “vocabulary” that enhances the bond within the group. The bond is furthered by a support structure of leaders within the group and a “curriculum” that allows all mastermind members to revolve around guiding principles. But in order for a mastermind group to succeed, the members must be committed to each other individually and as a group. The group will grow together as the members share experiences, and certain members will ebb if they are not committed to participating in these shared experiences. Participation is a must for a mastermind group’s growth.
How is a Mastermind Group Event Structured?
Online meetings: At EPIC, our Mastermind groups meet online twice a month for about an hour. The leader starts the meeting with some personal development content and/or a theme for the meeting. The members each participate by discussing certain questions around that theme and then answer their own accountability questions around their personal goals.
Events and Summits: (our secret sauce) our mastermind events and summits are the venue where we each get together for in-depth pursuit of our goals and mutual experiences. We learn cutting edge personal development concepts; share and declare major upcoming accountability goals; and spend time discussing business and personal issues that, once solved, can propel us to new heights.
What Are The Benefits of Becoming a Mastermind Group Member?
While the list of reasons is long, here are a few key ones:
- Accountability. It is said that, “no man is an island” and that means that nobody can reach desired levels of success by themselves. Having a team around you helps, but so does having a peer group. When we openly declare our goals to each other – to people who want to celebrate your success – there is a human desire to stay true to our word in front of our peer group. That declaration is often the “gear” that you need to get you to accomplish what you desire. Rarely do you succeed when the only person you have to answer to is yourself. There is power in speaking your dreams and goals out loud to a group of people who believe in you and want to see you grow. Accountability is often the main benefit of becoming a member of a Mastermind group, and if done right, will pay the membership fee of the group many times over.
- A trusted network of like-minded people. Try telling a broke person about your next 100-unit apartment deal or that you just made $100,000 in the stock market. They’ll look at you like you have an antler growing out of your head. This is a stretch example, but the point is that different people from different walks of life have different points of view. They “speak a different language.” If your tribe is true, you all understand the same jargon and vocabulary. You are all at different points along the same journey. You don’t feel judged, but rather feel accepted as you work to improve. The next level of this is that you begin to have an inherent level of trust in each other so that when it comes to doing business together or investing together, it’s just easier. The accountability of each member, the group and the environment helps keep the eco-system “clean” and free of misguided members.
- A trusted board of experts. Have you ever gone through a challenge in your business or personal life and wished that you had people who “got you” and could empathize with your challenge? Have you ever wanted to turn to people who have gone through a similar experience and could give you the perfect advice at the perfect time. Often, your family and friends are not the ones from whom you should seek this advice. That’s where a mastermind group comes in. EPIC Mastermind members can come from experience, see a clear path, and help you to get on, and stay on, that path. Your mastermind members will support you, inspire you, and challenge you to become your best self.
- Accelerated growth. Imagine that you could be coached in every area of your life. How great would you be? Ever notice how all professional golfers have coaches? Why? They are the best in the world, they don’t need a coach. Or maybe they do. In order to become the best, and remain the best, you must have guidance, and a Mastermind group can provide that guidance – if the members are the right ones. A good mastermind member will give you shortcuts, tips, techniques and experience that may just prevent you from making a mistake or can open up a possibility of success much quicker.
What Are Some Common Traits Of Successful Masterminds?
- A shared set of values. Having a common set of values is the “glue” that holds a good mastermind group together. If each member is marching towards his goals and they are similar to the member next to him, it is a natural environment to foster success. For example, if honesty is a shared value of a mastermind, and one of the members is dishonest, it makes it difficult for the other members to open up and trust that member – therefore, stifling and muting the openness of the other members. All members must be held accountable to upholding the values of the mastermind group.
- A common vocabulary. Being able to communicate without explanation of basic concepts allows accelerated growth. For example, if you are talking about a Cash On Cash return on one of your deals, you want the other members to have an understanding of that concept, so that you can discuss the deeper nuances of your deal. But we also recognize that there are opportunities for all members to learn new vocabulary as well.
- Honest transparency. Good mastermind groups don’t hold back. They know that there are few places where members can get unfiltered feedback, so they must encourage honest transparency. If members are hiding their weaknesses, there are no opportunities to work on them.
- Bonding experiences. It is one thing to have regular meetings and quite another to experience, side-by-side, an adventure or even a life-event with another member. Experiences bring us together so we encourage members to participate in events that create those bonding experiences.
- Safe environment. “What happens in Vegas, stays in Vegas” is a similar guiding principle that should guide a good mastermind group. Often, members vulnerably share confidential personal and business experiences that must remain private. Privacy is a requirement in order to foster the honest transparency mentioned above.
Finally, a good mastermind group is one that makes you better. A mastermind group may not be for everyone, but as a human, you are a social creature. You need other people. Your family understands you only so far. Your friends can only give you the support that they understand. As you grow as a person, you grow apart from your past. That includes the people in your life who are not growing at your rate, in your direction and with your desired values. You find that you have fewer and fewer people in your life that you can turn to. You inner circle shrinks as you get older. So, a mastermind group is a great solution for creating a new inner circle of like-minded members who understand your position in life. Who can support, inspire and challenge you to become the best version of yourself.
As they say, “your tribe attracts your vibe” and vice-versa; “your vibe attracts your tribe.” If this resonates with you, you should get involved in a mastermind group a soon as possible so that you can start to surround yourself with others who will help you take your life to the next level.