October 25, 2017

5 Reasons to Join a Mastermind

The world of work has changed. Technological advancements and a new generation entering the workforce has prompted us to see the workplace shifting to focus on openness and collaboration. The quick growth of communal workspaces such as WeWork and the Centre for Social Innovation boast thousands of members that work as a community. These communities network and build off each other’s strengths and knowledge, much like the idea of a Mastermind.

This idea of collaboration and masterminding is not new by any means. In fact, Napoleon Hill in his book “Think and Grow Rich,” written in 1937, introduced the Mastermind concept: he shared that “The coordination of knowledge and effort between two or more people who work towards a definite purpose in a spirit of harmony…no two minds ever come together without thereby creating a third, invisible intangible force, which may be likened to a third mind.” Hill’s book takes us through the many conversations with the highly successful businessman Andrew Carnegie, who attributed his entire fortune and success to his Mastermind group.

Today, Mastermind groups are gaining in popularity for the same reason. However, a Mastermind should not be confused with group coaching. A Mastermind is a meeting of highly motivated people who share a common objective and are looking to encourage and learn from each other in order to improve. It is about peer-mentoring and holding each other accountable so that everyone is doing their best work.

Here are the top 5 reasons that YOU should consider joining a Mastermind Program:

1) Community: Mastermind groups give individuals the opportunity to be part of an exclusive group of like-minded people. Each member of the group is carefully selected, either by an application process or by invite. You’ll have the chance to network with other individuals working in your area of interest.

2) Collaboration: When a group works together and collaborates, everyone wins! Everyone in the Mastermind group works together, alongside one another, motivating each other to reach their goals. We achieve more when we work together, and with the opportunity for collaboration comes more success for everyone.

3) Accountability: Mastermind groups will help keep you on track and working towards reaching your goals. Did you know that it is a proven fact that you are more likely to stick with your goals if you write them down and commit to them? The American Society of Training Development (ASTD) performed a study on accountability and found that you have a 65% chance of successfully completing a goal if you commit to someone. And if you have a specific accountability appointment with a person you’ve committed to? Well then your chances of success increases by up to 95%.

4) Thinking Bigger: Mastermind groups have a focus on thinking bigger. The motivation from group members will help you to do your best work, encouraging you to stretch your thinking and your boundaries. Use your Mastermind group as a place to brainstorm and bounce ideas off other group members to help you reach your full potential.

5) Learning and Sharing: There is SO much information out there these days! Mastermind groups are a fantastic place for the sharing of knowledge and skills, and a great place to learn new skills from others that will in turn help you overcome your own challenges. And you can expect group members to give you their honest opinions: they’re not your competitors, they want to help you succeed!

Joining a Mastermind group could be just the thing you need to help you reach your entrepreneurial goals! I offer several Mastermind Programs for retailers, including my most popular program, the Retail Entrepreneur Accelerator Program. To learn more, schedule a free consult with me via email at [email protected].


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