Thomas Jefferson did it. So did Andrew Carnegie and Anita Brittina (she wrote “Diary of A Small Businesses Owner: A Personal Account of How I Built a Profitable Business,” and had what she called a self-board, which meet regularly to cross educate and support). And Napoleon Hill wrote about it in his classic and timeless book, Think and Grow Rich.They all had mastermind groups to help them achieve success.

Hill writes in Think & Grow Rich, “No two minds ever come together with a common purpose without creating a third, invisible intangible force, which may be likened to a third mind.” He further described the mastermind as the “coordination of knowledge and effort of two or more people, who work toward a definite purpose, in the spirit of harmony.”

The value of a mastermind group is in the participants who are a catalyst for growth and a source of knowledge. It’s like having a supportive board of directors, from which you can gain tremendous insights for both your business and personal life.

Participants raise the bar, challenging each other to set goals, brainstorm ideas, and create a structure of accountability that helps keep you focused in a manner that embraces honesty, respect, and compassion.

The mastermind groups I lead have 6-8 small business owners, and meet either monthly or bi-monthly. The members are fairly close in the stage of their business development, with similar goals and challenges. While I set a learning focus for each meeting, the agenda belongs to the group, and each person’s participation is key.

Mastermind groups can be established around nearly any group of individuals who have a common interest. In addition to a small business owner mastermind group, there are masterminds for the self-employed, the job seeker, individuals working on advancing their career, or spiritual thinkers, as well as play-writes, stand-up comedians, and people seeking to have an extraordinary year.