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.

Neagle Code Question

Hi David!

I have seen over and over again, coaches marketing โ€œmasterminds.โ€ Can you explain the concept of a mastermind vs. a coaching program? Iโ€™m a bit confused as to the difference.

Neagle Code Answer

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 Hillโ€™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 โ€œcoordination 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 โ€œeconomic 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.โ€ He goes on to state that, โ€œthis form of cooperative alliance has been the basis of nearly every great fortune.โ€

2) The second characteristic is based on the premise that โ€œNo two minds ever come together without thereby creating a third, invisible and intangible force which may be likened to a third mind.โ€

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 โ€œexpert.โ€ In a true mastermind, all participants are โ€œequalโ€ and have a goal of helping each other, knowing that in return, they will also be helped.

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