The Power of the Mastermind

One of the most beneficial hours of my work week  is spent attending a Mastermind call with my fellow traders.

What is a Mastermind Group?
The concept of the Mastermind Group was formally introduced by Napoleon Hill in the early 1900′s.  In his timeless classic, “Think And Grow Rich” he wrote about the Mastermind principle as:
“The coordination of knowledge and effort of two or more people, who work toward a definite purpose, in the spirit of harmony.”
He continues …
“No two minds ever come together without thereby creating a third, invisible intangible force, which may be likened to a third mind.”
In a Mastermind group, the agenda belongs to the group, and each person’s participation is key. Your peers give you feedback, help you brainstorm new possibilities, and set up accountability structures that keep you focused and on track. You will create a community of supportive colleagues who will brainstorm together to move the group to new heights.

I initially thought the benefits of our mastermind group was to share information as we were all pretty new to trading.   Ha! what a misconception, while our group started off sharing the basics, I find my mastermind group more helpful to me today then when I first started trading. We have all advanced to a new level of strategy trading. We have graduated from the basics to more sophisticated strategies.  We all have very busy lives and often need the support of others to stay on track.  Or to find the time to stay committed.  I often fall on my Mastermind group to give me support and sometimes even confidence to keep doing what I’m doing.

In total I actually have 3 mastermind groups, each with a specific focus.  I am a member of one group that focuses on growing our businesses online.  I have another that goes back over  5 years, and while we no longer talk every week, we still hold each other accountable to being the best entrepreneurs we can be and sharing our gifts with others.  The third is my trading mastermind.

So regardless of what you want to be, have or do in your life, I’m guessing participation in a mastermind group will help you get there faster.  So google masterminding and learn more about it, then go out and start inviting folks to join you on your path to success.  To learn how to start a mastermind group click here.  One word of advice, a mastermind group made up of all like individuals will be less effective than mixing it up with different personality types.  Find a group of 5 -6 individuals who are similarly motivated, but somewhat diverse. Good luck and check back and let me know how its going.