The Five Laws For Forming Your Mastermind Group

I came across a blog by David Finkel that is a promotional tool for a real estate cash flow business. His post caught my interest because it talked about five laws for forming a mastermind group.

They include:

1. BE SELECTIVE -- Character is contagious. Be careful whose character you catch!

2. EACH MEMBER BENEFITS -- No one will give their full-hearted cooperation over time without getting some tangible benefit in return. Make sure you work to benefit each member of your mastermind group on a consistent basis.

3. MAINTAIN HARMONY -- This is a tall order. A mastermind group with tension or conflict is degraded to a simple committee. The single most important rule to maintaining harmony in the group is that while you can question ideas and input, never question INTENT. If you do, you will destroy the relationship.

4. COMPELLING AND DEFINITE CHIEF AIM -- Collectively create a compelling outcome for the group towards which all of you are fully in agreement on. This direction will focus your collective power and allow you to harness it to awesome effect.

5. MAINTAIN CONFIDENTIALITY -- People will be much more open and cooperative if they feel they can let their guard down and authentically and safely share.

It's a good list to include when considering setting up a Mastermind Group. The most important of all is being selective. In our Mastermind Groups, each candidate is interviewed and screened to make sure they share the same philosophies on business as the rest of the members. From there they will be invited to one meeting as a trial run to make sure they gel well with the other members. If even one member doesn't fit well in the group the whole project can collapse.