Which Mastermind Group Should You Choose?

Mastermind Groups Throughout the Ages

Napoleon Hill formally introduced the concept of mastermind groups in his 1937 book, "Think and Grow Rich." He described them as "the coordination of knowledge and effort of two or more people, who work toward a definite purpose, in the spirit of harmony." Hill’s “mastermind principle” emphasizes that by joining forces, individuals can harness collective ideas, energy, and support, multiplying their success through mutual brainstorming and accountability.

The root of the idea is that collaboration and communal problem-solving amplify individual strengths and drive one another towards true success and significance. Hill’s concept was inspired by his research into the habits of successful people, including interviews with prominent leaders such as Henry Ford and Thomas Edison. 

From 1915 to 1924, Henry Ford, Thomas Edison, Harvey Firestone, and naturalist John Burroughs formed a group known as "The Vagabonds." They took camping trips together where they exchanged ideas on industry, technology, and nature, impacting each other’s work and influencing American industry and conservation for years to come.*

The concept of divulging and building new ideas off of peers has been a consistent theme throughout history. In 1930 C.S. Lewis and J.R.R. Tolkien created "The Inklings," a club where they challenged one other’s thoughts and ideas and pushed each other to become some of the most prolific men of their era. 

Mastermind groups go even further back than the 1900s, though. Philosophers like Socrates, Plato, and Aristotle in Ancient Greece participated and thrived in group discussions, such as Plato's Academy. Group debate, accountability, and the battle of the minds have continually proven to encourage men to reach their full potential throughout the ages.

In medieval Europe, craftsmen formed guilds to support each other, share techniques, and develop trade skills. Although not labeled as mastermind groups, guilds fostered mutual growth and collaboration among members.

Over time, mastermind groups have evolved from informal peer gatherings into structured, fee-based memberships and professional networks, spanning business, personal development, and specific fields like entrepreneurship and executive coaching.

Today, mastermind groups offer members accountability, inspiration, and diverse perspectives, often facilitated by a coach or group leader. They continue to follow Hill's original principles of mutual support and collective growth, and they work incredibly well for those seeking guided, goal-oriented collaboration. 

Mastermind groups have grown across fields, from personal development and business to writing and science, demonstrating the enduring power of collective wisdom and mutual support throughout history. 

What Types of Mastermind Groups Are There? 

From Amazon influencers to Pinterest marketers, financial literacy groups to real estate investor peer advisory groups–there's a long, long list of different types of mastermind groups. So instead listing them all here, we decided to categorize the types of groups there are available to business owners and entrepreneurs that encompass owning and growing your business. 

Business Groups

If you're looking to focus solely on maximizing your profits, a business-focused mastermind group is for you. If you have a challenge in your business that you can't seem to shake, there are 2-day up to 12-month groups that meet to zero in on resolving that specific problem. 

There are other business groups focused mainly on growing your profits that don't include a time limit. Business masterminds are typically industry-specific or professionally-focused, aiming to help members achieve entrepreneurial goals. These groups concentrate on business growth, strategy, marketing, finance, and skill-building within a business context. Members of business masterminds share resources and expertise, often focusing on concrete metrics like revenue, client acquisition, and brand building.

Life and Business Groups

Participants of "whole man" masterminds often come from diverse backgrounds and a wide range of businesses, with the common goal of achieving well-rounded, fulfilling lives. This diversity fosters a supportive environment where individuals bring insights from various areas, including work, family, hobbies, and self-improvement. 

Sessions cover a broader range of topics, from goal-setting and habit formation to stress management, relationships, and personal fulfillment. Meetings may include self-reflection exercises, personal sharing, and life planning. Whole-life masterminds tend to emphasize mindfulness, personal values, and balanced goal-setting in all areas of life.

Network Groups

Network masterminds are collaborative groups focused on helping members build valuable connections, expand professional networks, and share industry insights to boost career or business success. These masterminds are particularly beneficial for individuals who rely heavily on relationships—such as entrepreneurs, sales professionals, and consultants—since they help members find strategic partners, access resources, and share referrals.

Life Groups

Life-focused masterminds are usually nonprofit, donation-only masterminds that are geared toward building strong leaders and networking within local communities. Many of these groups are local Christian organizations with volunteer mentors that meet to encourage one another in building the kingdom for Christ in your life and career. 

These are similar to the "whole man" groups with one main distinction. Life-focused masterminds focus on becoming better spouses, parents, and friends while adding in business as a part of your life, while life and business masterminds are more holistic in intertwining personal and professional goals and problems as equally important. 

7 Must-Ask Questions to Find the Right Mastermind Group for You

Here are 7 questions you must ask yourself in order to find the mastermind that’ll help you accomplish your goals and dreams. 

1. What do I want to gain from being in a mastermind group?

When deciding on a mastermind, you should be able to pinpoint the reasons why it would fill what you need. Consider these reasons:

• Accountability: Being part of a group encourages you to stay on track with your goals and commitments, as members hold each other accountable.
• Diverse Perspectives: You'll gain insights from people with different backgrounds and experiences, which can lead to new ideas and solutions. Are you looking for a more intimate peer advisory group, or a community of hundreds of members?
• Support and Motivation: Most groups provide supportive environments where you can share challenges and celebrate successes, helping to boost your motivation.
• Networking Opportunities: You'll expand your professional network, which can lead to collaborations, partnerships, and new opportunities.
• Skill Development: Members often share knowledge and expertise, helping you develop new skills and strategies for personal or professional growth.
• Focused Problem-Solving: You can bring specific challenges to the group and get focused feedback and brainstorming to help overcome them.
• Confidence Boost: Regularly sharing your goals and progress can build your confidence and reinforce your commitment to achieving them.

2. How much time am I willing to commit? 

Different groups have varying time commitments and you must be aware of how much time you have to commit. There is a level of accountability inside mastermind groups and you must be honest with yourself about how much time you can give before committing to one for your sake and the sake of the other members. Things to consider about your time:

• Meeting Frequency: Most groups meet weekly, bi-weekly, or monthly for about 1 to 2 hours.
• Preparation: You may need to spend additional time preparing for meetings, like reviewing your goals or contributing to discussions. This could be around 30 minutes to an hour before each meeting.
• Follow-Up: Engaging with other members outside of meetings, whether through messaging or email, can add to your time commitment, depending on the group dynamics.
• Personal Development: You might want to set aside time for personal growth activities suggested in the group, like reading or working on specific skills.

3. What is the expected level of trust I’m willing to give? 

Whether or not you are ready to be vulnerable inside a group, you need to be aware of how deep a group might go to help overcome your challenges.

Are you mainly interested in a group that focuses solely on business, or are you looking for a group that considers your personal life to be a huge influence in your business and leadership? You will need to consider how “far” a group goes and how much you will need to trust your group.

4. Do I want a group that is co-ed or male-only?

In a male-only group environment, you would have:

• Shared Experiences: You will find it easier to relate to challenges and experiences that are more common among men and should only be discussed in the appropriate setting of a small peer advisory group. 
• Comfort Level: Some may feel more comfortable discussing certain topics in a male-only environment. Male relationships are vital to having a level of deeper vulnerability and accountability. 
• Focused Networking: If you’re specifically looking to connect with men in your field, this could be beneficial.

In a co-ed group environment, you would have:

• Diverse Perspectives: A mixed-gender group can provide a wider range of viewpoints and experiences, which can enhance discussions.
• Broader Network: You’ll have the opportunity to connect with individuals from various backgrounds, which can lead to different opportunities.
• Collaboration Skills: Working in a diverse environment can improve your skills in collaboration and communication.

Ultimately, think about what kind of environment will help you grow the most. You might also consider trying both types to see which resonates better with you!

5. Do I want to meet virtually, in-person, or both?

Deciding whether to meet virtually, in-person, or both involves considering a few key factors:

Virtual Meetings

• Convenience: You can join from anywhere, which is great for busy schedules or if members are geographically dispersed.
• Flexibility: Easier to coordinate times and can often fit more easily into your routine.
• Accessibility: If you have mobility issues or prefer to meet from home, virtual options can be more accommodating.

In-Person Meetings

• Stronger Connections: Face-to-face interactions can foster deeper relationships and enhance trust among members.
• Engagement: In-person meetings may lead to more focused discussions with fewer distractions.
• Networking Opportunities: Being physically present can lead to spontaneous conversations and connections that might not happen online.

Both Options

• Best of Both Worlds: Offering both formats can allow for flexibility; you can choose what works best for your schedule or the group’s dynamics.
• Hybrid Dynamics: Some members may prefer one format over the other, so accommodating both can help everyone feel included.

Consider your preferences, goals, and the members involved to determine the best format for your mastermind group.

6. Am I concerned about solving a specific business problem or am I wanting a whole man approach to a group?

Deciding between focusing on a specific business problem or seeking a broader "whole man" approach depends on your goals and current needs. Here are some things to consider:

Specific Business Problem

• Targeted Support: If you have a particular challenge, a group focused on that issue can provide tailored advice and solutions.
• Expertise: You might benefit from members with experience in that specific area, leading to actionable insights.
• Accountability: A targeted group can help you stay focused on resolving that issue and achieving measurable results.

Whole Man Approach

• Holistic Growth: If you’re looking for personal development alongside professional goals, a well-rounded group can help you grow in various areas of life.
• Diverse Discussions: Engaging with different topics can inspire creativity and innovation in your business, even if it’s not the primary focus.
• Support Network: Building relationships in a broader context can provide emotional and motivational support, which can indirectly benefit your business.

Think about what you’re currently seeking—if you need immediate help with a specific challenge, a targeted group might be best. If you’re interested in overall growth and support, a whole man approach could be more beneficial. 

7. How long and how much money am I willing to invest in being in a group? 

If you have a specific problem you desire to solve, you will be more likely to commit to a 6-month group. But if you are looking for long-lasting relationships, a group committed to accountability and solving challenges throughout your business journey would be for at least a year or more to get the full value of both receiving and giving back.

A mastermind group is not an expense, it is an INVESTMENT. Consider the age old truth “you get what you pay for.” The investment in a mastermind group can vary widely based on several factors, including the group’s structure, duration, and the level of expertise of its members. Here are some general guidelines:

Low-Cost Groups: $ 

• Cost: Often a nominal fee: $10-$300 per month.
• Benefits: Great for trying out the concept without a significant commitment.

Mid-Range Groups: $$

• Cost: Typically range from $300 to $1,000 per month.
• Benefits: Often have more structured meetings, experienced facilitators, and a commitment to accountability. This investment can yield valuable networking and support.

High-End Groups: $$$

• Cost: For groups led by well-known coaches or industry experts, these are typically $1,000+ a month. 
• Benefits: Often provide intensive support, exclusive resources, and access to high-caliber members. The potential return on investment can be substantial if you’re looking for significant growth.

Financial Considerations

• Budget: Determine what you can comfortably afford without straining your finances.
• Value: Think about what you hope to gain from the group and whether the potential benefits justify the cost.
• Commitment: Consider how long you want to commit to the group and if the investment aligns with your goals.

Now that you have an idea of what type of group you may want to be a part of, it's time to find the right group for you. Download our Mastermind Group Guide to get access to our comprehensive, categorized list of Mastermind Groups that are held around the world and right in your home.

We've compiled a large, linked list of groups available today and included whether they are co-ed or female/male only, faith-based or not, what the investment will look like, and a short description of each.

Ultimately, choose a group that matches your budget and offers the support and resources you need to grow.