Over that last number of years the concept of Executive Peer or Mastermind Groups has become much more apparent. The concept of the Mastermind Group was formally introduced by Napoleon Hill in the early 1900’s. In his timeless classic, “Think And Grow Rich” he wrote about the Mastermind principle as: “The coordination of knowledge and effort of two or more people, who work toward a definite purpose, in the spirit of harmony.” Its popularity is certainly gaining traction whether formally through organizations such as Linkage or TAB (The Alternative Board) or less so through Chambers of Commerce or individual coaches / consultants bringing together a group of their clients.
For those of you not familiar with these groups, essentially they are an opportunity to bring together non competing business owners and executives in a setting that is developmental, insightful and supportive. It works off the premise that very often this particular constituent is somewhat isolated within their own work environment relative to certain challenges and having an objective peer group provides the forum to address these types of issues.
For some they see the gathering as being akin to having an Advisory Board where challenges can be discussed and advice offered. For others it’s an opportunity to learn new ideas or share experiences. And finally it creates a sense of community and camaraderie (very often non existent within business) with like minded individuals in a trusting environment where real impactful issues can addressed.
This is not a remedial solution for dealing with a problem executive. On the contrary it is a very effective developmental forum through which business owners and executives can truly learn new ideas, become much more enlightened and motivated, and ultimately lead themselves and / or their businesses to greater success.