Mastermind Groups: A Powerful Practice Strategy

I’m Dr. Hassan, a Board-Certified Physiatrist and Independent Practice Owner. I help physiatrists start and grow their own profitable practices so they can achieve financial independence and live without limits.

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Have you ever wondered what mastermind groups are and what makes them hold so much appeal for successful people? Most renowned for his classic, Think and Grow Rich, Dr. Napoleon Hill defines a mastermind group as “an alliance of two or more minds blended in the spirit of perfect harmony, cooperating for the attainment of a definitive purpose.”

In Dr. Hill’s book, he concluded that a group of like-minded, achievement-oriented individuals dramatically leveraging one another’s strength provided the crucial platform for their collective success. His finding is based upon the research and analysis behind the achievements of no less than 500 of the most successful people in America in a glittering list that includes Andrew Carnegie, Thomas Edison, and Henry Ford.

This is because mastermind groups allow you to tap into the power and wisdom of many and put in place a support group to assist in attaining personal and professional goals. This is in stark contrast with the individual who puts a lonely figure struggling to build and shape an entire practice by him or herself.

How can practice mastermind groups benefit you?

Me no longer exists in a mastermind group. It’s harnessing the power of we that is intriguing. Imagine having a mastermind group of doctors fighting with you in the same trenches, or doctors who have been there, done that. Imagine that you’re given access to this unique brain trust to speak and generate support, understanding, and ultimately solutions from these doctors. This access can help you dismiss that temporary setback as an insignificant blot on your otherwise impressive CV in the future.

How does that sound? A mastermind group does precisely that for you. You can leverage others’ skills, knowledge, experience, ideas, and abilities as though they were your own. Within that process, you can create a synergy within the group and a unique compilation of thoughts that would otherwise possibly never be generated.

The benefits of mastermind groups are bountiful:

marketing contacts
practice referrals
information about new practice opportunities
advice on how to improve the way your practice is run

However, you must realize that referrals and lead exchange are just a small part of what a mastermind group does. Being involved in a mastermind group also calls for accountability. There can be no excuses not to get things done, as you are not only answerable to yourself but your other group members as well.

Once you have accrued the long-term benefits, such as sustaining your practice and building lasting and deep friendships with the other members of your mastermind group, you can expect unbiased and nonjudgmental advice from them. Over time, they will grow to become your most trusted practice associates upon whose shoulders could be relied on should you run into any sort of trouble in the future.

To reach that stage, though, you have first to learn to give and share objectively. Sharing allows you to process things better in your brain as you talk to a group of doctors who genuinely care. This grants you clarity of thought to set more definitive and realistic goals. To benefit the most from a mastermind group, follow the philosophy “givers gain.”

Finally, should you reach this stage, you can even rely on members of your mastermind group, doctors whom you trust, to help regulate your practice and serve as a layer of protection against external threats.

Click here to learn how your family is most crucial to the development and success of your practice.

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