7 Steps to Conducting an Effective Mastermind Group Meeting

“When two or more people coordinate in a spirit of harmony and work toward a definite objective or purpose, they place themselves in a position, through the alliance, to absorb power directly from the great storehouse of infinite intelligence.” – Napoleon Hill (author of Think and Grow Rich)

We are all aware that when it comes to problem-solving or producing a product, two minds are always better than one. Therefore, picture forming a permanent team of five to six individuals that gather once a week to discuss problems, brainstorm, network, and inspire and motivate one another.

One of the most effective strategies for success is the masterminding process. No one I know who has achieved great success has not used the masterminding strategy.

An Old Concept Made Fresh Again

In 1937, Napoleon Hill first introduced mastermind (genius) groups in his bestselling book "Think and Grow Rich." And from the early 20th century to today's modern business giants, all of the world's wealthiest industrialists have tapped into the potential of the mastermind group. When asked to name one factor that contributed to their success in becoming a billionaire, achievers most frequently cite this one idea.

A mastermind group existed for Andrew Carnegie. Likewise, Henry Ford. In fact, Ford would collaborate with creative minds like Harvey Firestone and Thomas Edison at a gathering they hosted at their winter estates in Fort Myers, Florida.

They understood that a mastermind group might concentrate energy on your efforts in the form of information, fresh ideas, a wide range of resources, and, most significantly, spiritual energy. Millions of people have subsequently learned the same thing. And Napoleon Hill wrote a lot about this spiritual component.

According to him, we have a lot more positive energy accessible to us if we are in tune with the mastermind, which is God, the Source, the Universal Power, or whatever name you choose for the all-powerful creative life force. This energy may be directed toward our prosperity.

This is something that even the Bible mentions: "For where two or three are gathered in my Name, there am I in the midst of them." Matthew 18:20 (KJV)

Thus, "mastermind" refers to the power we draw from both above and from one another.

A Method for Quickening Your Growth

The fundamental tenet of a mastermind group is that collaboration allows for greater accomplishment in less time. A mastermind group is made up of individuals who meet regularly – weekly, bimonthly, or monthly – to exchange knowledge, resources, ideas, and comments.

You can quickly advance your own ideas and goals by utilizing the viewpoints, expertise, resources, and experiences of the other members of the group, in addition to expanding your own finite vision of the world.

People from all walks of life as well as those in your own sector or profession can make up a mastermind group. It may concentrate on either personal, professional, or both. However, in order for a mastermind group to be truly effective, members must feel safe enough to be open with one another.

High levels of trust can only be developed in a confidential manner. We frequently travel to manage our public and corporate image. Participants in a mastermind group can speak honestly about both their personal and professional lives and feel secure in the knowledge that whatever is said in the group will remain in the group.

New Resources, New Ideas, and New People

When assembling your mastermind group, think about including individuals from other professional fields as well as those who are "above" you and who can connect you to a network of people you otherwise wouldn't have access to.

Even if the advantages of masterminding with individuals outside your field may not be immediately apparent, the truth is that we all have a tendency to become mired in our areas of expertise and adopt the practices of our sector. But when you bring together individuals from other fields and occupations, you get a wide range of viewpoints on the same issue.

Henry Ford was an expert on the assembly line. Thomas Edison was an inventor. Harvey Firestone was a genius in corporate management. In order to address each other's difficulties, whether they were relational, financial, or legal, their mastermind group gathered various skills.

Members of mastermind groups have started or saved businesses, changed careers, amassed millions of dollars, improved their parenting skills, developed as instructors, improved their advocacy for social change, improved our environment, and more.

Putting Together a Mastermind Group

Regardless of the goal, the idea is to select individuals who are at least one level above you or already where you'd like to be in life. If your objective is to become a billionaire but your current income is merely N200,000 per year, you will be better served by hanging out with people who are already making more money than you.

If you're worried that members of a group who are already performing at a higher level than you won't want to be associated with you, keep in mind that you're the one leading the meeting. You are creating a space where other people can meet their masterminding and growth needs.

Because they'll get to participate in a game that they might not have taken the time to plan for themselves, many others at a higher level will want to get engaged.

They'd undoubtedly be thrilled to collaborate with them on strategies if some of the others were already playing at their level.

What Size of Mastermind Group Is Best?

A mastermind group should include five to six members. It loses its dynamics if it gets any smaller. If it grows too much, it becomes unwise because meetings take longer, needs may not be satisfied, and personal sharing is reduced.

However, there are groups with as many as twelve people that meet for a whole day every month that operate very successfully.

How to Run a Successful Mastermind Group Meeting in 7 Steps

All members of the mastermind group should attend sessions that are held either weekly or every other week. They can be carried out over the phone or in person. An optimal time frame is between one and two hours.

It is advised that each member spend the first hour of the first few meetings explaining to the others his or her status, opportunities, needs, and challenges while the other members come up with ideas for how to support that person.

Later sessions provide everyone a brief opportunity to update the group, solicit assistance, and offer comments.

Each meeting should adhere to the tried-and-true framework, which consists of the seven (7) steps or phases listed below, in order to satisfy each participant's needs and keep them engaged.

To make sure that everyone sticks to their predetermined time to speak and receive attention, your group should also designate someone to be the timekeeper, either the same person each session or a different person for each meeting.

Step 1: Deliver an Invocation to Seek for Spiritual Guidance

Mastermind sessions should ideally begin with a prayer asking for the group to be surrounded and filled with strong spiritual energy. The invocation can be delivered alternately by members.

They implore the global power to help the group with each other's needs, using whatever spiritual belief system the group leader possesses. Today, we ask to be filled with light and surrounded by it, and we pray that our hearts be open to receiving guidance from a higher power. This is an example of an invocation that begs God or that higher power to be present.

Step 2: Share New and Good Information

Sharing success stories with one another is a great way to build relationships and maintain energy levels. Others in the group get the impression that the process is effective and that they should continue to be active even if only minor victories have been made since the last meeting. The moment for testimonies is now.

Step 3: Talk about Time

Although each participant may typically have 10 to 15 minutes allotted each week, there may be occasions when one member requires more time to discuss a particularly challenging subject.

They might request the amount of additional time they anticipate needing during the step. Others in the group could be facing their own difficulties that week and require additional time.

Others could decide not to use their time at all since they have nothing to say. Each participant bargains for the length of time they believe is required, with the timekeeper acting as a referee.

During the negotiation stage, you'll frequently overhear statements like "I just lost my assistant and I need time to talk about it...", "I'd like you to read this new proposal I've written and give me your thoughts on it" or "I have no idea where to start looking for a printing company in the Far East."

The meeting officially starts after the negotiations are finished and everyone has agreed on the agenda, with the timekeeper making sure that everyone remains on task and on time. The group runs the risk of losing some members if their needs are not addressed.

Others, the needy or domineering kinds, could dominate the conversation or divert the focus of the brainstorming session into a personal argument.

Step 4: Individual Members Speak With the Group Listens and Brainstorms Solutions

Some of the topics that will be covered at a mastermind meeting include – “I require contacts”; “I want recommendations”; “I need an expert to assist me develop this idea”; “I must raise 500,000 Naira”; “Delegation is something I struggle with”; “I need assistance on managing customer service”; “I can't seem to find consistent, capable, and devoted workers”; or “In this new area of my business, I'm lost.”

Time's up when the time given for explanation, discussion, and brainstorming is up! And the group goes on to the requirements of the next person.

Whatever the subject of the conversation is, it doesn't matter. As long as everyone is benefiting, they will continue to be active in the group. Everyone will want you to be there as long as you're providing value.

You'll discover that groupings frequently change terms. They begin pretty businesslike but develop a special personal link as participants get to know one another and start talking about personal issues like "My wife and I are having problems" or "I think my son is losing concentration in school" or "I just lost my job." You can use the group  for whatever you like, together with the other participants.

Step 5: Make a Stretching Commitment

The timekeeper asks each member in turn to verbally commit to the next action that will advance him or her toward the achievement of his or her goals – something that the member will agree to complete before the next meeting. This is done after members have had their turn to present, discuss, brainstorm, and receive feedback. The commitment must be challenging.

It may have happened as a result of what the group member overheard that day, such as "Okay, I'm going to make three calls to employ a new salesperson" or "I'm going to call our family doctor to find out how he runs her doctor."

The main advantage of a mastermind group is that everyone is constantly working toward the achievement of their objectives thanks to this commitment.

Step 6: Conclude With a Gratitude-Filled Moment

A group prayer of thanksgiving may be said at the conclusion of your meeting. Or you might go around the table with each member saying one thing he or she appreciates about another person in the group.

Step 7: Be Accountable

Each member discusses something linked to the objective he set at the previous meeting when the group gets together the very following week. Did each team member act? Has their mission been accomplished?

The accountability factor – other group members checking in on you to make sure you keep your commitments – is one of the true values of a mastermind group. When they are given a deadline and held responsible for meeting it, people are more productive.

The truth is that you will take action to fulfill your commitment before the deadline if you anticipate being questioned about it next week. It's one technique to be sure you'll get a lot more done.

An Alternative: Accountability Partners

In conclusion, you might decide to work with someone I refer to as an accountability partner rather than a mastermind group. The two of you decide on a set of objectives that each of you is working toward, and you both agree to speak on the phone frequently in order to hold one another accountable for meeting deadlines, achieving objectives, and moving forward.

To ensure that you are both following through on your planned actions, you commit to calling each other once a week or once every other week. It gives you an added incentive to complete the task promptly and correctly, knowing that you will be reporting to someone.

If you're autonomous and work from home, building this relationship is very beneficial. Wednesday is an extremely productive day because you know you'll be speaking with your accountability partner on Thursday.

Another option is asking your partner to share resources, contacts, and ideas. You can present your most recent concept to your partner and solicit their response by asking, "What do you think?” How would you move forward? Your partner may offer to call on your behalf, provide you with a contact name, or provide you with information through email that they have already gathered.

An accountability partner may also help you stay motivated when you are losing it due to challenges, deterrents, failures, or even better chances.

Selecting a partner who shares your enthusiasm for achieving your goals and who is dedicated to both your and their success is essential for a successful accountability partnership.

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