Benefits of a Mastermind
by Bud on November 13, 2009
I’ve been meaning to write this post for quite some time as it seems anyone who is successful these days is part of a group of ambitious individuals. I can personally attest to how powerful masterminds can be.
At the time of this writing, my “mastermind” consists of Brian Papa, founder of Cheer Up Nation. Brian is a really cool dude with a tremendous heart and I can’t wait to see where his dreams take him. Right now, Brian and I enjoy the one on one mastermind connection, but we fully intend to expand it as time progresses.
A few months ago I felt I needed some extra motivation to help me reach my goals, so I decided to send out a tweet to start a mastermind. Brian immediately replied and we were on the phone shortly after. Right now, we chat on the phone at least once a week and email each other frequently.
Looking back, it seems like starting a mastermind was a fantastic idea. Today I’d like to share with you the benefits of having a mastermind.
A Common Goal
In my case, both Brian and I have common goals: that is, to impact the world in a positive manner. While our specific goals are obviously different, we both feed off each others energy and in the process boost our ability to contribute to humanity.
It doesn’t matter what you want to do with your life chances are there is someone out there who has similar aspirations. Surrounding yourself with these individuals greatly increases your chances of succeeding. When you have a group of people dedicated to one purpose amazing things begin to happen. This isn’t to say that you have to agree with everyone in your mastermind group. In fact, it’s important to collaborate with a group of people that share different views than you, as this allows you to understand numerous perspectives rather than just your own.
Honest Feedback
Another powerful benefit of masterminds is that they give you the opportunity to receive honest feedback. Honesty is essential for growth. When Brian and I discuss our future plans we require that we are completly honest with one other. This gives us some valuable feedback on where our strengths and weaknesses are. Obviously we do our best to encourage each other but at the same time we aren’t afraid to share our honest opinions.
Sometimes we delude ourselves into thinking we are doing something when it’s apparent we are doing nothing of the sort. Having feedback is a wonderful way to stay on track and get results.
Accountability
Another advantage of being in a mastermind is that it holds you responsible. It’s one thing to trick yourself into thinking you’ve been productive when you haven’t; but it’s another to trick the people whom hold you accountable. I’m sure you’ve all heard of the “make your commitment” public method. When you publicly state your intentions there’s extra motivation to follow through on your goal.
If you say you’re going to do something and don’t it hurts your credibility. This isn’t to say you can’t mess up or come up short. There’s absolutely nothing wrong with failing, as long as you first take action. Being held accountable helps you to get up and moving.
Motivation
Many of us have big ambitions and dreams yet we often lack the motivation to carry out what we intend. It doesn’t matter what you want to do in life, motivation is a key component in getting things done. The truth is, things don’t always go the way that we plan, there will be times when you feel like giving up, there will be times in which you question the direction in which you’re heading. Having a support group will help you ride the wave of uncertainty and give you the motivation that you need to succeed.
I’ve had a few days where I was feeling down and Brian quickly helped me to regain focus. 
Starting Your Own Mastermind
If you’re looking to take your life to to the next level starting a mastermind is a wonderful tool to accelerate the process. Not only does a mastermind help you reach your goals it’s highly beneficial for all those who are involved. There’s nothing more powerful than a group of determined individuals.
Do you surround yourself with people that will help you reach your life goals? Do you partner with individuals that will truly benefit humanity as a whole? Perhaps a mastermind is right for you.
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I totally agree! Particularly when I have experienced how having classmates as room-mates and neighbours is great during exam times.
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Bud, I thought we discussed I don’t have any weaknesses…
ha…
This is a great post, and not just because I’m in it. Accountability for me is my biggest help, and that’s where you’ve been incredibly good — keeping me on point.
Also, I just noticed again with this post, and it’s worth pointing out to your readers, “Bud’s an excellent writer, isn’t he?”
Have a great weekend, everyone!
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motivation really is key when doing something, but always keep in mind that when you make a plan don’t get too excited about a certain outcome.It never becomes what you wanted to.
…and thanks for the inspiration Bud. I really want to get in a mastermind with someone that want’s to give to the world the best he/she can.
btw, brian you’re kind of funny
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Hey Bud,
I agree with you, many of all have big dreams and goals in life. But the motivation is a major component that many of us lack. And a strong support system consisting of positive and like minded people is a VERY useful aspect in our ambition.
Thanks for the reminder
Steven
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@sudeep Thanks for stopping by! Talking with your classmates is a great way to understand school work better.
@Brian: Shucks Brian you made me blush.
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@Florin: Try looking for someone who lives close to you.. or send out a tweet on Twitter
@Steven: Thanks Steven. Do you currently have a mastermind in place? If not you should
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I like this idea of a mastermind. I have been doing this rather informally by surrounding myself with some like minded people and communicating with them on various topics in our lives. I need to ponder this one, but I may just take the mastermind idea and work it in more formally. Thanks for sharing your ideas!
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Bud,
I’m really glad you posted this. I’m actually going to reach out to my own community of social media contacts, etc and start a mastermind group. I love the fact that you are using collaboration in the blogosphere. I myself am in the process of launching a second multi-author blog in partnership with some of the readers on my blog. It will go live in about 3 weeks. Anyways, thanks for sharing this.
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This is all so true! It is important that we find role models, not just in the movies or on TV but also real life. Those are the people that have the biggest impact on our future. This is especially true when we claim someone as our mentor, teacher, or spiritual authority.
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Really great post, Bud!
Just found your site through Corbett’s most recent post on Free Pursuits. It’s really a very small world; my little sister and brother are currently attending Mizzou (my family lives in Columbia)! How are you liking the school?
I’ve found that mastermind’s are a fantastic way to help you grow; my ex-girlfriend and I ran one in Los Angeles for a while called ‘Way Below Status Quo,’ wherein we would get our really ambitious, motivated friends together once a month to drink, socialize, network and learn from each other. We’d give presentations (I gave on one building a business plan, for example, while another friend showed us a new kind of ultra-lightweight, ultra-portable massage table he designed) and exchange contacts.
Everyone benefited, everyone had a good time and everyone made new connections that became friends (which is the strongest kind of business relationship you can have).
Keep up the good work, buddy! You’ve got a new subscriber!
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For centuries many cultures have supported the notion of seeking a guru…someone older and wiser that can guide one to a place of greater understanding and enlightenment. I like the idea of creating a Mastermind that can serve a similar purpose by bringing together like-minded individuals who are committed to helping all in the group, like a collective guru! Excellent post Bud!
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Motivation is the one thing I love about “mastermind” groups. When I am feeling down or distracted from a goal, I know one of my friends will remind me that we have the same goals and we can both achieve them!
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A fresh start eludes us when we try to put it off at a later time. How can it be fresh if it’s not consumed now?
only the present is fresh and new, I couldn’t agree with you more.
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Thanks for thsi post, it is fantastic. I am a big believer of mastermind groups. I am going to blog about this post to my readers so they can also benefit from your post. Thanks again!
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