Another of the powerful concepts outlined in “Think and Grow Rich” by Napoleon Hill is the power of the Master Mind.
A Mastermind group as defined by Napoleon Hill as:
“Coordination of knowledge and effort, in a spirit of harmony, between two or more people, for the attainment of a definite purpose.”
“POWER” is essential for Success in the accumulation of MONEY and great power can be accumulated through no other principle! POWER is also necessary for the retention of MONEY after it has been accumulated!
“POWER” refers to “organized effort, sufficient to enable an individual to transmute DESIRE into its monetary equivalent.
“ORGANIZED EFFORT” is produced through the coordination of effort of two or more people, who work toward a definite end, in a spirit of harmony!
Thus, economic advantages may be created by any person who surrounds themselves with the advice, counsel, and personal cooperation of a group of people who are willing to lend them wholehearted and, in a spirit of PERFECT HARMONY.”
There are certain Master Mind Rules one must follow, if you expect success in building a Master Mind group.
Master Mind Rule # 1:
Ally yourself with a group of as many people as you may need for the creation, and carrying out of your plan, or plans for the accumulation of money or other goals – making use of the “Master Mind” principle as described in “Think and Grow Rich”. Compliance with this instruction is absolutely essential. Do not neglect it.
Rule # 2:
Before forming your Master Mind alliance, decide what advantages, and benefits, you may offer the individual members of your group, in return for their cooperation. No one will work indefinitely without some form of compensation. No intelligent person will either request or expect another to work without adequate compensation, although this may not always be in the form of money.
Rule # 3:
Arrange to meet with the members of your “Master Mind” group at least twice a week, and more often if possible, until you have jointly perfected the necessary plan, or plans for the accumulation of money or goals.
Keep in mind these Master Mind facts:
First Master Mind fact:
When building your Master Mind, you are engaged in an undertaking of major importance to you. To be sure of success, you must have plans which are faultless.
Second Master Mind fact:
You must have the advantage of the experience, education, native ability and imagination of other minds. This is in harmony with the methods followed by every person who has accumulated a great fortune.