MasterMind Groups

Many entrepreneurs and independent consultants hire executive coaches to provide accountability and an objective second "pair of eyes" for business challenges and opportunities.  We wholeheartedly support this approach.  Some of our best friends are executive coaches.

For many of us, however, the cost of this kind of coaching is prohibitive – either because we are fiscally challenged or perpetually frugal – so Consulting Stance also recommends an alternative that has proven to be effective for many professionals over the last century.   MasterMind groups were originally introduced by Napoleon Hill in his amazing bestseller Think and Grow Rich and are still acclaimed by business leaders all over the world.

The premise of a MasterMind group is simple.  A group of professionals with similar, though not competing, positions and goals gathers once or twice a month to brainstorm ideas, create and implement goals, and support each other with total honesty and respect.  Often, these groups begin as an idea generator and evolve into an accountability and assistance resource for all members. 

Napoleon Hill wrote, “No two minds ever come together without thereby creating a third, invisible, intangible force which may be likened to a third mind.”

There is something powerful that happens when you bring a business challenge to your MasterMind group.  New ideas and resources are identified.  Bad ideas are quickly rejected so time and money isn’t wasted.  Joining a MasterMind group can multiply your own insight and experience and put you on the fast track to success.

What Can You Gain?

• Access to people with different experience and expertise
• Faster progress in your business activities
• Support and encouragement from people who understand your business
• The opportunity to contribute your own experience and ideas to others
• Sense of inclusion

Choosing who to invite into your MasterMind group is more of an art than a science, but in general, look for people who:

• Have a similar level of success or experience so that discussions are among peers, rather than mentorship
• Are willing to commit to the time and intellectual energy required to participate fully in the group
• Are ready to move forward in their own businesses
• Will respect the confidentiality of the group
• Want to flex their creative problem-solving skills to help others grow their consulting practices

Geographical limitations are often an obstacle for independent consultants who wish to find or form a MasterMind group of their own.  Consulting Stance now offers facilitation and “virtual” MasterMind group meeting space to members who prefer an online MasterMind group over a traditional group that meets in a restaurant or coffee shop.

If you would like to join or form a MasterMind group of your own, you can find resources, guidelines and sample agendas under the Tools & Templates menu tab, which is available to Consulting Stance subscribers only.  You can locate other independent consultants who would like to join a MasterMind group by looking in the Member Directory or by sending an email to MasterMind_Admin@ConsultingStance.com.