Master Mind Part 2

by Dennis Perry on October 5, 2011

In my last article I opened the discussion of master mind groups.  I have had a few questions and comments regarding this concept so I felt it best to expand a bit on the topic.

As stated in the first article, the concept of master minding was first discussed in the classic work by Napoleon Hill, Think and Grow Rich.  To briefly review, a master mind group is 2 or more people who meet to brainstorm, discuss obstacles to progress and work through them, set goals, hold each other accountable and just about any other purpose you choose for your group.

Typically, the ground rules are established and agreed upon in the first meeting or two.  Meetings can be live, as we did in Tennessee this past week, or video conferencing, telephone, or any way that all in the group can communicate with each other.

How Many People Should Be In The Group?

How many people you choose to be in your group is totally up to you.  I have been in groups with just one other person and I have been in groups with 7 or 8 members.  In my experience, the larger the group, the harder it becomes to make sure every one gets a chance to discuss their needs/wants.

I like no more than 4 in the group.  Assuming you meet for an hour, that gives each person about 15 minutes to discuss what they want to discuss.

My current group has been together for around 3 years and has been, by far, the most powerful and successful group I have ever been in. 

Our format is a weekly telephone call to a bridge or conference line where all 3 of us can be heard.  Prior to the call, usually the day before, we send each other a weekly planner which is just a Word Document.

The planner will list our top 3 primary goals, our top projects that we are working on to support those goals, a list of what we accomplished the previous week, what we failed to get done, and what we intend to do for the coming week.  This becomes our accountability document.

The planner also has room for any observations or other comments we wish to make.

Our calls last 1 hour.  We start on time and we end on time.  During that hour we make sure that each of us has an opportunity to discuss our planners, any obstacles or “stuck” points we may be experiencing, and any other issue we want to discuss.  The others in the group will then join in and we put our collective brains to work on the issues/problems.

There is an exponential growth of thought power when we all are working on the same problem at the same time.  Einstein said that it is impossible to solve a problem with the same mind or level of thinking that created it.  By employing a master mind, we are able to rise above that level and attack problems and difficulties with an entirely different and new perspective.

That is a very powerful process.

Time Commitment?

I want to address a comment that John C Moulder made.  John said that the mastermind concept would work really well if you were self-employed and worked from home so you could juggle your schedule if needed.

That is certainly a valid point and I don’t doubt that it would be easier under those conditions but I want to make it clear that ANYONE can be involved in a master mind group.

I am neither bragging nor complaining but I work between 40 and 60 hours per week as an Oral & Maxillofacial Surgeon.  Then, I put in between 15 and 20 hours per week (on a slow week) in my teaching, speaking, mentoring business, Create A Rich Life.   As I work with Dr. Kevin Hogan as a mentor, those 15 to 20 hours increases dramatically.  I also have a wife, a son, a daughter-in-law, and a Golden Retriever that loves to play.       

The point is that I am a pretty busy person but I can still find an hour a week to spend with 2 people who really want to see my businesses succeed and my personal life grow.  I submit that nearly all of us can put together an hour per week if we are serious about personal and business growth.

Rob Malone also asked a couple of questions that I want to answer here.  He asked how this group came about.  We have all known each other for close to 10 years.  We met at a  retreat that Dr. Philip Humbert, one of the group, was conducting in Wisconsin.  About 2 or 3 years after we first met, Phil had both Debbie and me speak at his annual event.

After speaking to his group each year for about 4 years, we decided to form our master mind group.  We used to meet for a bit at the end of his annual conference but he decided to stop doing his retreat.  Our meeting in Tennessee was in place of our getting together at his annual World Class Life Retreat.

Challenges

His other question was about challenges in forming a group and keeping it vibrant and productive. 

I feel the biggest challenge in forming a group is finding people who are compatible with each other.  If there is one really dominant person, they may overwhelm the others. Or, if there is one or more very passive people, they may be left out of the discussions and the group will miss out on their perspective and expertise.

I also think there is a challenge in finding the right number.  I believe that limiting it to 3 or 4 total is good.  Five is doable but more than that becomes hard to manage.

Geographic separation is not a problem.  There are plenty of free resources such as www.freeconferencecall.com that you can use to bring everyone together.

Finding a time that works for everyone is also a challenge.  The larger the group, the more challenging this becomes.  At some point, if it becomes too complicated, you just need to choose a time that works best for the majority and move forward with it.

Keeping it vibrant and productive is really a matter of the people you choose.  As long as everyone is working together for the good of the group, the synergy should continue.

Dr. Philip Humbert has written an excellent book on this topic called The New Mastermind and you can get it here.

I have read the book and highly endorse it.

I hope this has served you well.  Make this a great day and make your life truly rich in every way.

 

 

Photo Credit

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{ 18 comments }

Eva Palmer October 20, 2011 at 10:21 am

In the Master mind group, is there always someone in charge of schedulling the conferences and preparing, if there is, material? Or every member participates equally?

Aprender Hipnosis

John Moulder October 7, 2011 at 7:21 am

Thank you for answering my query and expanding on the concepts of a mastermind group .

http://johncmoulder.com/oodles-of-noodles.html

Jennifer Battaglino October 6, 2011 at 11:04 pm

I’m happy you discussed the size of the group. On one hand you would think the more the merrier but then you run the risk of not giving everyone the time they need.
Your outline is so useful and I hope to implement it.

Jennifer Battaglino
Overcome Limiting Beliefs

Body Language October 6, 2011 at 10:06 pm

Would a mastermind group work not just for business, but for things like enhancing a book club, or other things of the nature?

Mark Hogan

Body Language October 6, 2011 at 7:36 pm

Would a mastermind group be efficient if business was not the main topic? Say, an extended form of a book club, or something similar?

Mark Hogan

Andrew Miner October 6, 2011 at 5:37 pm

This is a great article. Really makes me want to start a Mastermind Group of my own, like… NOW! Thanks for the excellent info and putting your own personal experience into this.

Andrew
http://www.andrewminer.net/running-with-music-advantages-and-disadvantages/

How Can I Find Professional Singles to Date? October 6, 2011 at 4:58 pm

Hi Wealth Doctor,

Thank you for delineating more of the details of the Master Mind Group you belong to. I do really love having a Mastermind Group, an inner circle of others, to brainstorm and have that great work relationship with. I like having a slightly larger group to get a broader and more varied perspective as well as the variety of life examples it gives me.

Does your Mastermind Business Group have any kind of a non-compete clause or rule to it? Do you find that having established rules works for your group? Or not? Are you all men, business men? Or is your group coed? What about age range and do you have members who are married or single? Parents or are there any of your MM group members who don’t have children? I’d love to hear more about those in future posts you do at your blog!

Happy Dating and Relationships,

April Braswell
How Can I Find Successful Singles to Date?

Annie Born October 6, 2011 at 7:24 am

Great Information &
Great recommendation!
Anyone can be involved in a mastermind – Love it!
Looking forward to tomorrow!
Create a great day!
Time to Care for the Caregiver Now?

Michael Paulse October 6, 2011 at 1:08 am

Thanks for the template for setting up a Matermind Group. I know that I want to join one.

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Cherie Miranda October 5, 2011 at 8:54 pm

Thanks for all of the information. I’d love to find a great, small mastermind like yours.

Cherie Miranda
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The Knowledge Stylist: Music, Photography, Travel, Gadgets and More! October 5, 2011 at 7:53 pm

I like this info, thanks for sharing. I think the biggest issue would be trying to keep the group together and focused and vibrant on key issues. That would be the biggest challenge in my opinion–but I’ve never started a mastermind group.

TKS

http://theknowledgestylist.com/genres-of-dance-music-house/

Body Language October 5, 2011 at 7:51 pm

Thanks for answering these question Dennis, looking forward to the next post!

Mark Hogan

Kevin Bettencourt October 5, 2011 at 5:46 pm

These are great suggestions to make the most out of a group atmosphere.

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Rob Malone October 5, 2011 at 5:32 pm

Dennis thanks so much for the thorough answers to the questions. I have never been in a master mind group but I very much would like to be in one. Sounds like you have an outstanding group – that is great.

Michael D Walker October 5, 2011 at 3:22 pm

If you can make time in your busy schedule to participate in a Mastermind group, I think almost anyone should be able to do the same. Thanks for walking us through more of the details of your Mastermind group.

Michael
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Sonya Lenzo October 5, 2011 at 1:57 pm

Thanks for sharing the details of how your group works. We all need some form of accountability to keep us moving forward. It seems you have found the perfect blend for you. I like the pic of your dog and was glad that you included playing with him as part of your busy week. Having had a dog and a cat, I know that the disappointed look they can give you if you skip your time with them, is pretty hard to take!
Sonya Lenzo
http://www.sunnyincostarica.com/onlinepokerinsunnycostarica/

Neil Dhawan October 5, 2011 at 12:53 pm

Hi Dennis,

I really enjoyed your article on the finer-points of a MasterMind Group. The number of people, the kind of people and the weekly accountability sheets – these are the little tips that can make the big difference, over all. Thank you for sharing them!

Stay Amazing and Do Extraordinary Things, Neil
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Clare Delaney October 5, 2011 at 12:34 pm

Thanks for an informative article which answered the queries and also made a compelling argument for making the time for a mastermind group. It was good also to read about the issues involved, but it’s obviously a worthwhile endeavour.

EcoExpert
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