A mastermind group is a voluntary collection of like-minded people committed to helping one another by actively working on solving one another’s problems, sharing knowledge of techniques and personal experience and providing mutual support.

The benefits of a mastermind group are many:

• A very real sense of community
• A source of creative ideas
• A means to get different perspectives on a problem that might otherwise go unseen
• An ‘interactive library’ where you can benefit from the knowledge of many people and tap information instantly
• A way of reducing risk when others have experienced what you are about to do and inform you of the hazards
• An extension of your own intelligence
• A reference point for expectations (when you do things alone it’s so very easy to lose yourself but when you can see your efforts and achievements relative to other people it grounds you and you usually see that your results are not half as bad as you would like to make out!)
• A means of gaining insight through clever questioning
• A source of support to tide you through the rough patches

In the book, Buzan’s Book of Genius, by Tony Buzan, he examined many of histories greatest geniuses and he distilled a list of 20 characteristics that he claims define all geniuses. One of these characteristics was to be part of a mastermind group. Many figures in history have been part of what we now call mastermind groups - Benjamin Franklin, Leonardo da Vinci, Isaac Newton amongst many others - and the progress and ability of individuals within a mastermind group is accelerated and raised.

When I read that book many years ago, I was envious of these people who had such support. Such resources were lacking in my life and I found it difficult to find like-minded people committed to helping one another, but now, thanks to the power of digital communications and the internet, it is easier than ever before to create your own mastermind group.

If you are a member of a group, organization or some other place where members of your ‘tribe’ gather, then you can propose to set up a mastermind group. Four people is really the minimum number required and any more than eight becomes unwieldy so aim for six regular members.

It is best to appoint an organizer as someone needs to coordinate activities. Your principal mode of communication will be through conference calls. Set a regular date and time get everyone to commit to come together for a minimum of six calls (or once around the group if you have more than six people). This commitment will create a habit of attending the calls. I favor weekly calls of an hour duration, otherwise it’s difficult to hold the group together. If you can, record the calls for future reference and for the times when individual members can’t make it.

In the beginning, set up a group on Google Groups so that you can share resources and post messages to one another. You can write brief biographies and introduce yourselves to one another.

For the first sessions, focus the mastermind on one of the members problems. The person in the hot seat should prepare information on the problem and distribute it at least two days in advance of the call, so that everyone can start to think about it. If you don’t do this and present the problem on the call, then the other members have to think on their feet and the results are usually of lower quality.

For the next round of calls you can each present a technique, knowledge or story of experience that can benefit the mastermind members. After this round of calls, you can get each member to give an update on personal progress (this doesn’t require a full hour - you might fit three reports into one session). You can then go on and start the cycle again.

Here are some of the resources that you can use to communicate within your group:

Google Groups

Google Docs

Skype - for free telephone calls, including conference calls

Free Conference Call - a free dial in service in the U.S. that also allows you to record calls for free

Wire Tap - excellent recording and editing software (works for Mac, not sure about windows)

If you know of other good resources, then please comment and include a link

I don’t have any off-line friends who have a blog, or who create information products and so it can get kind of lonely, but I am now a member of two mastermind groups in the field of internet marketing and information products and I can tell you that they are wonderful. I can talk to like-minded people about my problems, trials and tribulations. I can help other people to get what they want and vice versa. When you are learning new and difficult things whilst simultaneously carrying out bold projects, it is fantastic to be involved with other people doing the same who are willing to take an hour a week to contribute help, plus you get all of those other great benefits listed above.

In fact, I have become such a great fan of mastermind groups that I’m going to help certain select people by forming some new mastermind groups. I’m going to be offering my new book ‘Make Things Possible’ on the 7th of October. As a bonus for people who buy within the first week, I’m going to set up mastermind groups for those who want to participate.

The idea is for the members of the mastermind group to help each other apply the knowledge and methods given in the book. This means that you are much more likely to follow through, develop new abilities and get some outstanding results.

The groups will be managed by themselves but I will join in and contribute at the start and from time to time as the groups go on. You see, I’m very committed to seeing people benefit from buying the book. However, I am only making this offer to people who are subscribed to my newsletter, so if you are not signed up, then do so now. Use the opt-in box at the top right of this screen.

Additional links of interest:

The 20 Characteristics of Genius