The Power of MasterMind
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The Power of MasterMind
The most successful business leaders in history - Carnegie, Ford and Rockefeller - have used this principle. Thomas Edison used this principle. Mahatma Gandhi used this principle. And many more.
What is this principle that has contributed to history’s greatest success stories? This principle is:
*** The Power of 1+1=3 ***
No, it is not a new math formula. This principle represents a “Higher Force” ... a collective force greater than any individual ... created through the power of Master Mind Alliances.
WHAT IS A MASTERMIND ALLIANCE?
A Master Mind Alliance is a group of like-minded individuals with the common purpose to contribute to each others’ success, in a spirit of harmony, partnership and reciprocity.
HOW DO MASTERMIND ALLIANCES ACCELERATE YOUR SUCCESS?
Such Alliances work on two levels:
THE ECONOMIC LEVEL:
A Master Mind Alliance becomes your own personal Board of Directors who wholeheartedly give advice, expertise and knowledge to further your success.
THE PSYCHIC/SPIRITUAL LEVEL:
When Master Mind Alliances form for the sole purpose of mutual success, a “Higher Creative Force” results, allowing each participant to achieve more than is possible on their own.
In practical terms, MasterMind Alliances ...
• Raise your income, and productivity.
• Give you an opportunity to leverage the wisdom and real-world experience of other business owners.
• Provide creative ideas for improving your business.
• Give you support and encouragement from within a group of your peers.
• Inspire you to reach new heights as a result of others' success.
• Provide a networking source of great contacts, referrals, and connections.
• Give you an opportunity to share your experience and contribute to other's success.
• Gives you a great way to monitor your progress and accountability.
• Provide a forum to reflect on your business results and strategies.
• Are a great place to air your ideas and plans and get feedback.
• Achieve more than you could on your own.
HOW DO YOU PARTICIPATE OR FORM A MASTERMIND ALLIANCE?
For 25 years, I have both participated and facilitated MasterMind Alliances and have gained much wisdom in what works and doesn't work. As simple as the concept of a MasterMind Alliance sounds, the logistics of such groups can make or break their impact. Below are the top 7 critical success factors when forming or participating in a mastermind alliance.
1. Clear Common Group Purpose
Does each member have the same needs and wants from the group? Eg., some members may be primarily interested in brainstorming; another may have joined the group for emotional support and connection. If members do have different needs, is there a way of addressing all of them without diluting the cohesiveness of the group? What will be the key focus of the group?
2. Group Chemistry and Trust
What is the level of trust in a MasterMind Alliance? Trust in a mastermind alliance comes from respect and supporting each other, from communicating cleanly and from a spirit of collaboration rather than competition. Without trust and chemistry, a true mastermind alliance does not exist.
3. Serious Commitment
The biggest reason, in my experience, why mastermind alliances fail is because one or more members did not make a serious commitment and make participating in the group a top priority. Lack of serious commitment destroys the cohesiveness and momentum of the group.
4. Group Decisions and Responsibilities
While one person may start the alliance, within the first meeting, it is important that the success of the group becomes every member's responsibility. It is critical that the leadership of the group and other responsibilities be rotated amongst members. All decisions should be done by group consensus.
5. Consistent Meeting Format
Having a set structure and agenda for each meeting is essential. Possible agenda items may include: brainstorming, a quick check-in, an accountability segment, sharing of resources, etc.
6. Equal Give and Take
The purpose of a MasterMind Alliance is both to give and receive support. Reciprocity is critical. If a group becomes imbalanced where some members only give support or some only receive support. it destroys the very foundation of the group. Active giving and active receiving maximizes the flow of ideas, energy and outcomes of the group.
7. Closed Membership
In my experience both as a facilitator and participant, it is important to allow the first 1-3 meetings for members to explore whether the group is a good fit for them. Once a decision is made by each individual, closing the group to new members allows the group to bond, know each other in depth and allow the trust to form. That is when the magic begins. Group dynamics are very volatile to changes, especially with changes in membership. If, after a certain period of time, the group wants to add new members, how many and who should be a group decision.
While there are many other logistical details beyond the scope of this article, the key is staying focused on that common purpose to contribute to each others’ success, in a spirit of harmony, partnership and reciprocity. I can say, from my own personal experience, that mastermind alliances have been and continue to be the #1 driver of accelerated momentum, success and breakthroughs in my business. As a facilitator of MasterMind Alliances for CEOs and business owners, I have also watched how that "Higher Force" ignites the potential and greatness in each member, beyond what anyone could imagine.
For an additional resource regarding Master Mind Alliances, I recommend reading Napoleon Hill’s classic best-seller, “Think and Grow Rich”, Chapter 9. According to Hill, such Alliances have been the basis of every great fortune in history.
The Power of MasterMind - To learn more about this author, visit Denise Corcoran's Website.
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