How is a mastermind different from a coaching program?
This week's question from my portal “The Neagle Code: Directions for Life” comes from Elizabeth Lou.
I have seen over and over again, coaches marketing “masterminds.” Can you explain the concept of a mastermind vs. a coaching program? I’m a bit confused as to the difference.
Hi Elizabeth and thanks for the REALLY great question!!
I agree with you. There are a lot of coaches offering masterminds, and those programs are generally coaching programs rather than true masterminds.
Let me explain the difference.
The definition of a mastermind that I prefer is found in Napoleon Hill’s book, Think and Grow Rich. I strongly encourage you to read Chapter 10: Power of The Mastermind: The Driving Force.
He defines a mastermind as a “coordination of knowledge and effort, in a spirit of harmony, between two or more people, for the attainment of a definite purpose.”
He breaks a powerful mastermind into 2 characteristics:
1) The first characteristic is economic. Hill explains that “economic advantages may be created by people who surround themselves with the advice, counsel, and personal cooperation of a group of people who are willing to lend them whole hearted aid in a spirit of perfect harmony.” He goes on to state that, “this form of cooperative alliance has been the basis of nearly every great fortune.”
2) The second characteristic is based on the premise that “No two minds ever come together without thereby creating a third, invisible and intangible force which may be likened to a third mind.”
The biggest difference between a coaching program that calls itself a mastermind vs. a true mastermind is that in a coaching program, generally people gather to learn from or get support from one “expert.” In a true mastermind, all participants are “equal” and have a goal of helping each other, knowing that in return, they will also be helped.
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Thank you for explanation, David!