Have you ever had one of those “aha” moments, when an idea pops in your head and you know that you’re onto something BIG?
It happened recently to me after a Mastermind meeting that an investor buddy and I organized. I immediately ran the idea by two close business associates — both agreed it had a ton of potential — and within 2 weeks, made it a reality!
If you haven’t read Napoleon Hill’s classic book “Think and Grow Rich” yet, add it to your reading list immediately. Many of the most influential people in business attribute much of their success to this one book. I’ve probably read it 8 or 9 times now.
As Jim Rohn says, “Repetition is the mother of skill.”
So, in Napoleon Hill’s book, “Think and Grow Rich,” the 9th step toward riches is called “Power of the Master Mind.”
Let me give you a quick background on the book… then we’ll dive into his “Master Mind” principle and why it’s vitally important to your success, then we’ll finish up by going over 5 steps to create your own Mastermind group.
Ok, in 1908, as part of Napoleon Hill’s work for a magazine, he interviewed Andrew Carnegie. Carnegie’s company, US Steel, was the first billion-dollar company in the world… and he believed that success could be distilled into simple principles that would make it attainable for anyone to achieve great financial success.
Carnegie commissioned Hill to go on an exhaustive 20-year study of 500 of the most successful people of their time. Hill interviewed Henry Ford, Theodore Roosevelt, John D. Rockefeller, Dr. Alexander Graham Bell, Charles Schwab, Thomas Edison, among many others.
In 1937, he published “Think and Grow Rich,” which would become one of the most influential and best-selling books of all time.
This work is referenced as the “science of personal achievement.” And YES, it’s a science.
The “Master Mind” Principle
Hill says:
“The “Master Mind” may be defined as: Coordination of knowledge and effort, in a spirit of harmony, between two or more people, for the attainment of a definite purpose. Economic advantages may be created by any person who surrounds himself with the advice, counsel, and personal cooperation of a group of men who are willing to lend him wholehearted aid, in a spirit of perfect harmony. This form of cooperative alliance has been the basis of nearly every great fortune.”
After 20 years of studying the most successful people in the world of his time, Hill realized that if you analyze the record of anyone who has accumulated a great fortune — even those who accumulated modest fortunes — they either consciously or unconsciously employed the Mastermind principle.
How to Create Your Master Mind Group in 5 Steps
If you’d like to start your own Mastermind group, here are 5 simple steps to make it happen…
Step 1: Read “Think and Grow Rich.”
Step 2: Define your Mastermind group’s purpose. Maybe you decide that your purpose will be to forward your own and other members’ real estate investing businesses. I had a student who started a group that focused solely on private money.
Step 3: Set a goal for when your first meeting will be.
Step 4: Invite potential members. If you don’t know who to invite, it’s time to start networking. If you’re group is going to focus specifically on real estate investing, start by going to your local REIA meetings. Call real estate investor marketing in your area, seek out like-minded people who want to grow their businesses through cooperation… and invite them to participate in your Mastermind alliance.
Step 5: Decide when, where, and how often you’ll meet. I’m in a few different Mastermind groups… one of which meets quarterly in person. We have four members (all business owners) — a publisher, an attorney, a musician, and myself. I’m in another group that meets monthly by phone.
Here’s the thing… alls you’ve gotta do now is put this info into action.
Read the book. Find or start your own group. I suggest you being right now, today.