A mastermind group is a

peer-to-peer Peer-to-peer (P2P) computing or networking is a distributed application architecture that partitions tasks or workloads between peers. Peers are equally privileged, equipotent participants in the network. They are said to form a peer-to-peer ...

mentoring Mentorship is the influence, guidance, or direction given by a mentor. A mentor is someone who teaches or gives help and advice to a less experienced and often younger person. In an organizational setting, a mentor influences the personal and p ...

group used to help members solve their problems with input and advice from the other group members. The concept was coined in 1925 by author

Napoleon Hill Oliver Napoleon Hill (October 26, 1883 – November 8, 1970) was an American self-help author. He is best known for his book ''Think and Grow Rich'' (1937), which is among the best-selling self-help books of all time. Hill's works insisted th ...

in his book ''The Law of Success'', and described in more detail in his 1937 book ''

Think and Grow Rich ''Think and Grow Rich'' is a book written by Napoleon Hill in 1937 and promoted as a personal development and self-improvement book. He claimed to be inspired by a suggestion from business magnate and later-philanthropist Andrew Carnegie. Firs ...

''. In his books, Hill discussed the idea of the Master Mind, which referred to two or more people coming together in harmony to solve problems. Cooperation through the use of mastermind groups was one of the "laws of success" which Hill allegedly studied from successful Americans including

Henry Ford Henry Ford (July 30, 1863 – April 7, 1947) was an American industrialist, business magnate, founder of the Ford Motor Company, and chief developer of the assembly line technique of mass production. By creating the first automobile that ...

Thomas Edison Thomas Alva Edison (February 11, 1847October 18, 1931) was an American inventor and businessman. He developed many devices in fields such as electric power generation, mass communication, sound recording, and motion pictures. These inventi ...

, Alexander Graham Bell,

Theodore Roosevelt Theodore Roosevelt Jr. ( ; October 27, 1858 – January 6, 1919), often referred to as Teddy or by his initials, T. R., was an American politician, statesman, soldier, conservationist, naturalist, historian, and writer who served as the 26t ...

Andrew Carnegie Andrew Carnegie (, ; November 25, 1835August 11, 1919) was a Scottish-American industrialist and philanthropist. Carnegie led the expansion of the American steel industry in the late 19th century and became one of the richest Americans i ...

John D. Rockefeller John Davison Rockefeller Sr. (July 8, 1839 – May 23, 1937) was an American business magnate and philanthropist. He has been widely considered the wealthiest American of all time and the richest person in modern history. Rockefeller was ...

and Charles M. Schwab. Several companies offer mastermind group environments to members and guidance in planning effective groups.

Organization

There are two types of mastermind groups: one is focused on an individual's success, and the other is focused on the success of everyone in the group. Research suggests that optimal groups limit their size to 8 to 10 participants that meet regularly with rotating leadership.

References

Mentorships Leadership {{business-stub

Organization

See also

References