In Napoleon Hill’s book, Think and Grow Rich, the ninth step towards riches is called “Power of the Master Mind”.
If you haven’t read this classic 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… and just started reading it again. Because as Jim Rohn says, “Repetition is the mother of skill.”
Let me give you a quick background on the book… then we’ll dive into what is meant by the “Master Mind” principle and why it’s vitally important to your success, and we’ll finish up with steps on forming your own Master Mind alliance group.
Think And Grow Rich by Napoleon Hill
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…
… and in 1937 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
“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 at his time, he realized that if you analyze the record of anyone who has accumulated a great fortune (even those who accumulated modest fortunes) either consciously or unconsciously employed the Master Mind principle.
So, if you’re not currently in Master Mind group, it’s time to form one… asap!
How to Form Your Master Mind Alliance Group
Here are a few simple steps to form your Master Mind group…
Step 1 – Read Think and Grow Rich
Step 2 – Define your Master Mind group’s purpose
Maybe you decide that your purpose will be to forward your own and other member’s real estate investing businesses.
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 all the real estate investor marketing in your area… seek out like minded people who want to grow their businesses through cooperation… and invite ‘em to participate in your Master Mind alliance.
Step 5 – Decide when, where, and how often you’ll meet
I’m in a Master Mind group that meets quarterly in person. We have four members (all biz owners) – a publisher, an attorney, a musician, and myself. We rotate where we meet based on where each member lives.
I’m in another that meets monthly by phone.
Alrighty, now get out there and form your Master Mind group.
If you have any questions, comments, or thoughts, toss ‘em in the comment area.
P.S. – One of my Master Mind groups met recently in Cabo… gotta love “work” when it calls you to a beautiful tropical location :-)
Check out this little video from the weekend…
Pretty cool, eh?
P.S.S. – If you’ve decided to start your own Master Mind group and follow the steps outlined above, tell the world about it in the comment area. Who knows… maybe you’ll connect with someone here who would be perfect for your group.