Why One Goal Changes Everything in a Mastermind

When most people hear the word mastermind, they picture a big networking group, a business mixer, or maybe even a secret society. But as we explored in the latest episode of Conversations with Rich Bennett, a mastermind is none of those things. Done right, it’s something far more powerful.

Napoleon Hill, author of The Law of Success (1928) and Think and Grow Rich (1937), described the mastermind principle as “the coordination of knowledge and effort, in a spirit of harmony, between two or more people, for the attainment of a definite purpose.”

That “definite purpose” is what separates a true mastermind from a casual meeting or coffee-and-cards networking event. It’s about one clear goal—and that goal changes everything.

The Power of the “Third Mind”

One of Hill’s most enduring ideas is the “third mind.” When two people come together in harmony, they don’t just combine their individual knowledge; they create something greater—a new level of intelligence and creativity that neither could achieve alone.

In the episode, we talked about how Andrew Carnegie, who knew nothing about manufacturing steel, assembled a mastermind of experts who did. Henry Ford did the same in the automotive world. Their success didn’t come from knowing everything themselves—it came from bringing the right people together around one purpose.

That’s the essence of a mastermind: it isn’t about size, it’s about focus.

Mastermind vs. Networking: Apples and Oranges

A networking group is about exposure—meeting people, handing out cards, building relationships. Valuable? Absolutely. But it’s not a mastermind.

A mastermind is about solving a problem. Everyone at the table has skin in the game, and everyone is invested in achieving a specific outcome. As Chris Coleman shared, “Networking is just another form of advertising. Mastermind is everybody coming together for one singular goal.”

This distinction matters. Without a single unifying purpose, a group is just chatter. With one goal, it becomes transformation.

The Missing Link for Nonprofits

We also discussed how nonprofits could benefit from true masterminds. Too often, organizations repeat the same strategies for fundraising or grant writing—even when they no longer work.

Hill would call that the definition of insanity: doing the same thing over and over and expecting different results. By assembling a mastermind—pulling in diverse perspectives, from finance to marketing to community outreach—nonprofits can tap into the collective genius needed to break old cycles and innovate new solutions.

Creating the Right Environment

Another lesson Hill emphasized was harmony. A mastermind cannot thrive in conflict or distrust. The group must be a safe space where every idea can be voiced without fear of judgment.

As Greg Derwart pointed out, “There are no bad ideas.” Brainstorming works best when everyone at the table feels valued and trusted. Without that, the “third mind” never shows up.

From Boardrooms to Living Rooms

What struck me most in this conversation is how masterminds aren’t limited to businesses or nonprofits—they’re everywhere.

• A family planning their finances or raising kids.

• A Girl Scout troop brainstorming their Bronze Award project.

• A local bank forming cross-department teams to execute strategic goals.

In each case, the formula is the same: bring people together with diverse skills, focus on one goal, and work in a spirit of harmony.

Effort, Sacrifice, and the Long Game

Hill reminded us that riches—or success in any form—don’t come from wishing. “Riches are shy and must be attracted through well-conceived and carefully executed plans,” he wrote in Think and Grow Rich.

That means effort. It means sacrifice. And as our guests shared, it often means putting family and community above quick profits. The best masterminds don’t just build businesses; they build legacies.

Final Thoughts

So why does one goal change everything in a mastermind? Because focus creates clarity, and clarity attracts effort, harmony, and results.

Whether you’re running a company, serving in a nonprofit, or simply sitting at the dinner table with your family, the principle is the same: choose a purpose, bring the right people together, and watch the “third mind” do its work.

As Hill taught nearly a century ago—and as we’re still learning today—no one succeeds alone.