What is a Mastermind? A Definition and Resources

What is a Mastermind? A Definition and Resources

A mastermind is particularly useful for people who struggle with accomplishing their goals, staying focused towards their objectives, or need accountability and feedback. I’ve found masterminds extremely helpful in my journey to become an online auction for newer.

Here’s a snapshot of my business revenue and before/after I joined mastermind.


Most of the “success” I experience points to my masterminds as the foundation.

Because of my masterminds groups I have been able to:

  • Eliminate $50,000 of my mortgage in six months in 2016.
  • Create three profitable businesses (Healthcare Content Marketing, Coaching/Consulting, and Media Company)
  • Receive the courage and feedback to pursue my businesses when I doubted myself the most. (See this podcast episode on how I beat my entrepreneur depression of 3 months)
  • Gain lifelong relationships that push me to achieve goals I never thought possible.
  • Stop myself from pursuing ideas that distract me from my main goals.

What is a mastermind? – A Definition

A mastermind is a group of like-minded individuals who meet on a consistent basis for the self improvement of each other.

Masterminds have been used for millennia but only recently have they been structured and used for those in business.

Napoleon Hill made the mastermind idea popular in his book Think and Grow Rich (Amazon or PDF option). Dr. Hill researched the extremely wealthy during and after the Great Depression and found common themes among them.

He shared of how brilliant business professionals surrounded themselves with like-minded people in order to push their business forward.

Hill defines a mastermind as “two or more people who work in perfect harmony for attainment of a definite purpose.”

He explains even more, “a friendly alliance with one or more persons who will encourage one to follow through with both and purpose.”

A mastermind is like your own personal board of directors who provide unbiased feedback for your success. Each member is committed to you.

The members must be of somewhat equal standing in life/business. So, a millionaire businesswoman wouldn’t meet with a group of starting mommy bloggers. Or, someone with an established business wouldn’t meet with startup companies.


What a mastermind is not

Many masterminds fail. Most fail because members have different expectations of what a mastermind is. Here’s what a mastermind clearly is NOT.

  • Not a place to complain about problems
    • A mastermind is a place to create solutions
  • Not a place to blame others or circumstances for your predicament
    • A mastermind is created by members who take ownership of their lives and decisions
  • Not a place to remain complacent
    • A mastermind is a proactive group of like-minded individuals who dedicate themselves to each other, even when one member feels like giving up
  • Not a networking group or class
    • A mastermind is where real problems surface and others provide advice and feedback. You will learn unexpected expertise from others, but it is not a place


What does the mastermind do for you?

Rather than come up with fictitious results that a mastermind could bring to you, let me share with you who used masterminds in their success journey.

The Junto Group started by Benjamin Franklin became so popular that many of the original members started their own groups.

King Solomon (wealthiest King in Israel’s history): “Don’t go to war without wise guidance; victory depends on having many advisers.” Proverbs 24:6

Henry Ford and Thomas Edison created the “Vagabonds”, in which inspired the Model T engine along with other illustrious inventions.

The Inklings, notably JRR Tolkien and CS Lewis. Lewis stated, We meet…theoretically to talk about literature, but in fact nearly always to talk about something better. What I owe to them (his mastermind) all is incalculable,”

Theodore Roosevelt and The Tennis Cabinet

JD Rockefeller

And if online business is your interest (like me), here are some of the leaders of today’s online business revolution that use mastermind:
Pat Flynn Lewis Howes the guys at Fizzle, Amy Porterfield, Cliff Ravenscraft, John Lee Dumas, Dan Miller, Michael Hyatt, Jeff Goins, Hal Elrod

and the list goes on and on…

If so many people claim that masterminds are essential to their success, why shouldn’t you have one too?

Sign up for our free mastermind groups that I run every so often. Sign up to get noted!


About the Author Alex Barker