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Mastermind Group


berkshire101
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I've been hearing the term mastermind group used a lot lately.  It's basically a group of people that meet on a consistently basis to discuss and tackle challenges together; similar to mentoring, but as a group.  Has anything else heard about this?  And is anyone apart of one?  It seems like an interesting concept.

 

Here are some links I found:

http://www.forbes.com/sites/chicceo/2013/10/21/7-reasons-to-join-a-mastermind-group/

 

http://www.lifehack.org/articles//how-to-start-and-run-a-mastermind-group.html

 

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Second link is broken. The correct link is: http://www.lifehack.org/articles/productivity/how-to-start-and-run-a-mastermind-group.html

 

You already have CoBF - why do you need a mastermind group?  ;) If CoBF not good enough?  ;)

 

 

Theoretically, it's a great concept. Whether it works in practice depends on you and your network.

 

IMO, it's not easy to create a great mastermind group, the same way it's not easy to find your personal Charlie Munger.

 

Personally, I think that great friends and masterminds are easier in fiction ( four musketeers, Harry Potter/Ron/Hermione, etc.) than in real life. But then it's me speaking and I'm sure other people have different experience. So try it. :)

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CoBF is an amazing community.  I'm forever grateful that there's such a place that exist.  I think it might be more helpful to have verbal communication in addition to reading text messages.  There's a sense of flow rather than waiting for a reply.  Hopefully that makes sense. 

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CoBF is a great community indeed.

 

Having a mastermind group is good.  This kind of group is great. It is a virtuous circle, where each person is making him or herself better along with helping the others get better. 

 

Putting a group together is another issue tho...

 

FYI, there are a few business that basically create and maintain mastermind groups.  Vistage is probably the biggest and most well know. (but, it is not that well know, really)  It is very expensive, however.  I was in a Vistage group; it was a good experience.

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CoBF is an amazing community.  I'm forever grateful that there's such a place that exist.  I think it might be more helpful to have verbal communication in addition to reading text messages.  There's a sense of flow rather than waiting for a reply.  Hopefully that makes sense.

 

You could create a Skype group, or something. There's no reason meetups from this board have to happen exclusively IRL.

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CoBF is an amazing community.  I'm forever grateful that there's such a place that exist.  I think it might be more helpful to have verbal communication in addition to reading text messages.  There's a sense of flow rather than waiting for a reply.  Hopefully that makes sense.

 

You could create a Skype group, or something. There's no reason meetups from this board have to happen exclusively IRL.

 

Yep, that's the plan.  Ideally, it would be a group of say 3-5 people that meet biweekly over Skype or Google Hangouts.  Would anyone be interested?  So far, there's one person who reached out. 

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@ScottHall:

Awesome!  I messaged you on Skype. 

 

@doughishere:

I'm sure Silicon Valley has their own little version of this.  A lot of the podcasts I listen to mention mastermind groups and how it really helped them.  This video gives a pretty good breakout down on how to structure one.  They say you are the average of the people you surround yourself with.  So why not try to better yourself?  I'm sure Buffett has his own little personal board of directors he can discuss things with.

http://www.smartpassiveincome.com/how-to-structure-a-mastermind-meeting/

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