Think and Grow Rich Chapter 10: Mastermind is one of the most famous sections of the book. In this summary of the Mastermind Chapter you will find a definition of what a mastermind is and how to use it correctly.
Summary: Power of the Mastermind
Nature of power : how does Napoleon Hill define power?
In Chapter 10: Mastermind, Napoleon Hill says power may be defined as “organized and intelligently directed knowledge” and is essential for success in the accumulation of money. This is because plans are inert and useless without sufficient power to translate them into action.
Power is required for the accumulation of money, but also for its retention.
If power is knowledge, there are three sources summarized as follows:
- Infinite intelligence.
- Accumulated experience.
- Experiment and research.
Gaining power through the Mastermind
Men take on the nature and habits, and the power of thought of those which whom they associate in a spirit of sympathy and harmony.
The Mastermind principle and its economic feature was mentioned by Andrew Carnegie. Carnegie’s Mastermind group consisted of a staff of about 50 men for the purpose of manufacturing and marketing steel. He attributed his entire fortune to the power he accumulated through his Mastermind.
When several minds work together in perfect harmony, they create synergies and the resulting power is bigger than the sum of the individual powers. Even more, when a Mastermind is formed, the increased power is available not only to the coordinator but also to each member of the Mastermind alliance.
Two or more people actively engaged in the pursuit of a definite purpose with a positive mental attitude, constitute an unbeatable force.Napoleon Hill in Think and Grow Rich, Chapter 10 : Power of the Mastermind
This form of cooperative alliance has been the basis of nearly every great fortune. This truth may definitely boost your financial status and the only way to accumulate outstanding amounts of power.
How did Napoleon Hill define a mastermind group?
Napoleon Hill defines a master mind as group of people who complement each other in order to accomplish a goal. It is important all the members think the same way but have different knowledge, while showing a positive mental attitude to help each other.
In practice, any successful corporation has a master mind. These companies have a well organized group of experts (the Management) working in harmony to ensure the success of the company. At the time Carnegie was said to rely on 50 people, and it seems like a lot; but I am pretty sure owner and CEO of Amazon Jeff Bezos is not that far from relying on such a big number of directors (mastermind members) in order to make his company grow.
What is a mastermind alliance?
If you are decided to run your own Napoleon Hill Mastermind, you will need some structure. Above all, a mastermind is an alliance for one specific purpose and a reason. Somehow, it can be considered the apex of team work.
Keep on reading to find more on Think and Grow Rich Chapter 10: Mastermind.
How do I run a successful mastermind group?
These are the steps you must follow to run your own mastermind in the sense Napoleon Hill meant:
- Define the purpose of the mastermind alliance. It can be anything you want, ranging from charity to traveling to Mars. However, make sure the purpose is as clear as possible.
- Analyze the viability of the purpose and identify the skills and the expertise you need, including supportive know-how such as legal or accounting.
- Decide what compensation each mastermind member will receive in exchange for his/her work and cooperation. It can be money or something different. This is the reason of the mastermind (not the purpose).
- Approach the right people and make sure they share your vision. It is is important that members think the same way, and have their minds aligned. If your minds are not in the same wavelength it is not the right candidate.
- Define clear rules about meeting frequency, amount of work required, presentation of work, etc. Organization and structure is important to monitor correctly the performance of the mastermind alliance.
Warning : Do not confuse mastermind with master mind!
This summary talks about Think and Grow Rich Mastermind, as defined by Napoleon Hill when he first published his book in 1937. However, if you want to know more and you search the internet for it, know that there is another type of mastermind.
These days it is in vogue to use the term mastermind or master mind to speak about some groups for business coaching. Those are groups of similar people (entrepreneurs, managers, etc.) who meet from time to time in order to share opinions. They usually have a coach who conducts the master mind group, and the members try to share their experience and point of view on the problem within the frame of a business case.
Now that you have understood the lesson on the mastermind principle you are ready to go to the next section on sex transmutation.