ISSUE 57. ISSN 1712-468.

No individual may have great success without availing himself of the “Master Mind.”

Napoleon Hill
Think and Grow Rich

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This Week´s Inspiration

Master Minding Your Way To Success

Master Mind: Coordination of knowledge and effort, in a spirit of harmony, between two or more people for the attainment of a definite purpose

In our “I did it my way” society, we fail to access the power of the collective mind. I am not suggesting we become interconnected and codependent like the Borg Collective from Star Trek—but that what we can’t do alone, we can do together.

In spite of how bright each of you might be on your subject, no one can be as sharp as a group of experienced experts. Master Mind groups have been around for years; various industries have implemented their own versions or approaches to that concept.

For example, one segment of the auto industry has formed 20 groups where dealers from the same manufacturer’s brand meet to discuss their business results and strategies and get feedback—sometimes brutal feedback—from their peers. 

Business owners have created groups that meet on a regular basis to discuss their business issues. The group members (usually their contemporaries) become advisors to each other. 

Even support groups for moms can be a Master Mind group because they are meeting to help each other through the family development process.

Why do presidents have advisors, coaches have additional coaching staff, and politicians have experienced executive managers? To leverage knowledge and expertise. They understand the powerful process of the Master Mind group.

My encouragement is that if you do not belong to a formal Master Mind group, at least form an ad hoc advisory team.

One of the dynamics of a Master Mind group is that 1 + 1 does not equal 2; it equals 3 or more because the synergy between the two individuals creates its own presence and energy.

Let’s assume you have bought into the benefits of a Master Mind group. Now what?

  1. Determine the purpose of the Master Mind group. Why are you getting together?
  2. Outline the MUTUAL benefits for all who will participate. It is naïve to think that people will simply donate their time because you asked them to. All of us are busy, so be clear about how the process will assist everyone who is participating.
  3. Now that you have determined the why and what, it is time to consider who. If, in a perfect world, you could have exactly the type of individuals you would like in the group, who would they be? The quality of individual that you let into your Master Mind group is critical. My recommendation is this: if in doubt, don’t. Never compromise quality for quantity in this step. 

    You want individuals who can make a valuable contribution and who have chemistry with the other group members. In some Master Mind groups, to accept a new member, the group must be unanimous. The group must feel there is a good fit. One bad apple can completely destroy the Master Mind process. If you get a “taker” in the group—not a giver—act quickly or your other members will soon quit.
  4. Outline your expectations and the qualities you want to see in your Master Mind members. If you are starting a new group, invite only individuals who are at your level and above—people with expertise around the purpose of the Master Mind group. Once you have attracted a couple of members, invitations to other prospective members should be made by the group, not by you. They have important contacts, as well. 

    And make sure all your Master Mind members are committed to the group process. If they attend sporadically or if they barely connect with the others, find someone new to take their place.
  5. Outline the process and structure of your Master Mind group. Various groups meet in ways that work for them, such as monthly or quarterly, via conference calls, chat rooms, in person, at semi-annual conferences or any combination that works for the group. The key is that whenever possible, all Master Mind members are present at the same time so you can tap into the synergy of the group dynamic.

    Also consider the systems of formal reporting, accountability systems, or any methodology that contributes to the purpose and success of the Master Mind group and its members.
  6. Designate a facilitator or rotate the responsibility. Many groups have a paid facilitator because everyone is so busy. It is the facilitator’s business to run the Master Mind group.
  7. Make sure all members are served and that they benefit from the process. Some members will have more issues or items to Master Mind than others; the process must be shared to ensure it is mutually beneficial.
  8. The Master Mind group must have non-disclosure and confidentiality agreements in place. It would be nice if we were in a world where everyone could be trusted completely, but we are not.

Some individuals might run more than one Master Mind group, if there is a wide range of expertise or need. Also it must be noted that your Master Mind group members are typically not your lawyer, accountant, banker, etc. Those people are your direct advisors, which is not the same as a Master Mind participant. 

Your Master Mind group members are normally peers who have no direct or vested interest in your venture except for their commitment to the Master Mind process and group. That way they will speak freely without worrying about the political correctness of protecting their job or their contract with you.

To help the Master Mind members understand each other quickly and efficiently, make sure each individual completes the Personal Style Indicator and the Values Preference Indicator. Those assessments will help you better understand each of your members and improve the communication and Master Mind process.

Enjoy the journey and pay attention to the incredible energy and the plethora of ideas that will be generated by your group.

This Week´s Action Steps

Master Minding Your Way to Success 

  1. All individuals and business owners should have some type of Master Mind group to accelerate their success.
  2. Before you participate in or start a Master Mind group, determine the purpose and focus of the Master Mind Group.
  3. Outline the mutual benefits that all Master Mind members will enjoy.
  4. List the qualities of your perfect Master Mind group members.
  5. Get going; invite peers at your level or above.
  6. Once you have 3 to 4 members, new members should be unanimously approved by all the other members.
  7. Have all Master Mind members complete the Personal Style Indicator, Values Preference Indicator, and Self Worth Inventory to improve the communication and Master Mind process.
  8. Agree, as a group, on the process and methodology for conducting your Master Mind process.
  9. Keep the standards and the accountability high.
  10. Ensure that you have confidentiality and non-disclosure agreements in place.
  11. Enjoy the ride. If you set it up correctly, the Master Mind group process will generate awesome power and benefits for all individuals involved.

Until next time, keep Living On Purpose!

Ken Keis

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