How does a mastermind work? This is where a group of eight to ten people who gather weekly or monthly to share their business challenges, developments, ideas, and experiences. You often have to be invited to be a part of this peer-to-peer mentoring meetup.

The “Mastermind Concept” is credited to Napoleon Hill, author of the all time bestselling success book Think And Grow Rich.

Hill chronicled the common ideas and success strategies of great achievers of his time including Henry Ford, Harvey Firestone, and Thomas Edison. They had created a mastermind alliance and found strategic advantages in meeting regularly to discuss their business concepts and brainstorm new ideas for recreating the marketplace.

Here are six reasons why you need to start or join a mastermind group.

Think bigger

When you’re busy with daily tasks of preventing or putting out fires in your business, it may be hard to think long term and large. A group of ambitious and focused peers can help you remember your big goals.

When everyone is sharing their aspirations and journeys, it’s often a great opportunity to reflect on your own desires and remind you of the bigger picture. The camaraderie and support during these shares will also help boost your confidence that encourages you to want more for yourself and accomplish much more for your business.

Get 2nd, 3rd, 4th…..opinion

As a business owner, you are tasked with important decisions regularly. Your captive audience of peers can help you evaluate strengths, weaknesses, opportunities, and blind spots when you have new ideas or want to solve existing challenges.

Be inspired

Hearing your peers share their small and big successes can inspire you to overcome challenges, breathe new life to stagnant practices, establish new habits, and think bigger.

Collaborate

Mastermind groups often cultivate trust with like-minded people, don’t be surprised if you find a partner to work on a project together or explore a brand new business opportunity with.

Grow your network

As your bond grows, it’s common for your mastermind peers to introduce you to their network, hence growing yours exponentially.

Gain endorsers

The goal of joining masterminds is not to gain business from your peers, but to support each other and grow together. If you are authentic, helpful, and contributing, chances are, your mastermind partners will be your best endorsers who will vouch for your character and ability.

@YvonLux is a marketing CEO and founder of VANT4GE, LLC who also owns her custom-clothing line, Yvon Lux. She is also a published blogger and editor for her Apple News channel.

The young female founder has been featured in the Los Angeles Times, Orange County Register, Modern Luxury Magazine, and various other media outlets. Connect with her on Instagram and subscribe to her channel! Follow her on Twitter if you can handle sarcasm and politics.