In the past several years there has been a growing trend in mastermind groups. Several training companies offer these groups. Prices to become a member of these groups range from free to tens of thousands a dollars a year. Are they worth it?

Well unfortunately, the answer is that it depends. There are several factors to consider if it is the right group for you. To address that issue, let me outline the history of this concept.

The concept of the Master Mind was first introduced in the 1920’s by Napoleon Hill. The original concept, “the coordinated effort between two or more people in harmony in order to attain a specific objective”. In his version, there is a definite purpose, a plan, and a benefit for each member. In his version, you determine who can help you reach your goal, and you must meet frequently.

Unfortunately, this original version has been altered. The altered versions simply don’t work.

To pay to be a part of a group that has general goals such as investing in notes or real estate and meets 3 or 4 times a year is not a mastermind group. To have a small group meet monthly with the focus on buying 10 notes within a specific period of time where all players have a role and a benefit is.