The Importance Of Having A Mastermind Group

If you want to have a successful internet business it is possible to do it all by yourself. But in my experience it will make things significantly easier if you can connect with other like minded people to form mastermind groups that will hold you accountable. This is what some people refer to as 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.”

For example I meet up with my buddy Will who runs Hit The Accelerator  once a month. We live about 20 miles apart so it is really easy for us to meet up. I always find after we’ve met up my motivation is at an all time high. I always find that my income jumps up right after we have met up. It’s Friday night at 11PM and I’ve just done three hours work after meeting up with him earlier today. Why am I doing this you might be asking? I could be out having fun, after all it’s the weekend. It is because I’m super motivated to get shit done right after meeting up with him.

That’s why I think it’s important to find someone that you can chat to once a week or even just once a month. I’m fortunate that we live really close to each other and we are friends so it’s easy to meet up discuss business and have a laugh. I understand that not everyone is as fortunate as we are and may not live close to someone who runs the same sort of online business. But it doesn’t have to be in person, it could be just over Skype.

I don’t think either of us would be making full time incomes if we didn’t have each other to stay accountable and keep both of us motivated to keep pushing on. There are times when running a business can become a bit of a grind and it’s impossible to be motivated all the time (despite what the gurus tell you). Knowing that someone else is aware of your goals and where you want to be 1, 6 and even 12 months from now is a great motivator to get work done when you don’t feel motivated to do it. Believe me there are times when you really don’t want to work.

What generally happens is one of us will pull ahead of the other one income wise. That will motivate the one that is earning less to work harder to catch up. He will then overtake and the cycle will start all over again. If we trace our earnings back over the last 18 months we can see this trend over and over again.

So you can see how powerful it is to have your own mastermind group. Joining a mastermind group is honestly one of the best decisions I’ve ever made.

Thanks for reading.

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