Mastermind Group - Part II

My Mastermind Group has been garnering a lot of attention lately. My usually disinterested family is asking about all the things I am accomplishing when we talk on the phone. My children are so caught up in the process that they are OFFERING to help with my commitments when they are able to. My friends who aren’t participating are starting to feel jealous and left out (and these are people who generally do not have a jealous bone in their bodies!). And I even received my first quote from Elana Centor, Editor of the Business and Career section of BlogHer (I was quite flattered).

Seems there is some confusion as to what a Mastermind Group really is. Where do you find one? How much do they cost? What is the point?

The name, it seems originated from Napoleon Hill’s Think and Grow Rich: The Andrew Carnegie formula for money making. But Hill never put together the actual structure for a Mastermind Group, just spoke about the “power of the mastermind”. This, simply speaking, is the premise of modeling others who are more successful than you are. He says to find people who you have what you want, in money, business, or anything, really. Do what they do, think like they think, adopt their beliefs, and you will be taught how to be and live like your mentors. I guess there is some confusion in regards to any supposed ulterior motives of Mastermind Groups. Are some a way to hook people into a bigger (and more expensive) program? I’m sure some are, and some aren’t - just like any event participation, homework should be done.

A formal Mastermind Group is one that meets regularly to help each other grow professionally (and personally, I’m sure). They can meet via phone, webcam or in person, it doesn’t really matter.

The Mastermind Group I am participating in is unique in the addition of severe leverage. I haven’t had to grow out my moustache or give up coffee cold turkey (AND still maintain my normal level of output). And I haven’t collected any money from my fellow group members either. We are finding each of us has tremendous value to give each other.

We are all Master’s Track participants with Anthony Robbins & Associates, in which we get full access to all events over a two year time. These events include 2 different 3-day weekend seminars, 4 free coaching sessions, 2 one-day seminars, and several smaller events, such as this Mastermind Group, a Leadership Training, and a Time and Life Management program. Plus we get to go to all events over and over again for the length of the 2 years. So even though we are technically paying for participation in this Mastermind group, it’s a small part of a huge program (though I will add that is a very huge part of the results of Master’s Track!!).

Many successful and accomplished individuals offer their participation in a Mastermind Group for a fee - some are nominal, some are quite hefty. If I had the opportunity to learn directly from someone like Tony Robbins, I would! His Platinum Partnership is a bit out of my price range right now (something like $100K a year, I hear!). Frankly, if I had an extra $100K laying around, I would drop it on this kind of opportunity in a heartbeat. To learn directly from someone living at such a high level would be worth every penny - even if I just found out that I am already doing everything right in my life. I found one program online that met via phone for 42 weeks for $129. Another one ran for 12 2-hour sessions for $600. I know of another like-minded group of people who are putting together their own group and are just doing it for free for each other - adding value and receiving value.

In the end, the value you get is the value you are willing to give. Whether that be your money given to learn from a prominent mentor or your time given to someone who needs your help is up to you!

So don’t underestimate the value of a Mastermind Group - I’m of the belief that any worthwhile mentoring opportunity is worth it’s weight in gold.

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2 Comments on “Mastermind Group - Part II”

  1. Elana Says:

    Thanks for doing such a great job of clarifying the various ways people can participate in Mastermind groups– and I have a feeling you will never have to grow out your moustache:)

  2. eMoms at Home » Blog Archive » Starting and Participating in a Mastermind Group Says:

    […] I have written a lot in the past about participating in a Mastermind Group. I am now part of a new one that is simply phenomenal - we meet every Friday morning at 5:00 am to get focused on our goals, offer each other support and resources, and keep each other motivated and inspired. Two of the members are realtors who are making more money now than ever before thanks to the fact that they choose their peer groups carefully (yes, they are swamped in November in THIS real estate market!!). […]