Why Every Entrepreneur Needs a Mastermind
Mar 29, 2025I’m The Real Jason Duncan, back with your Beyond the Grind blog, where we help entrepreneurs like you build thriving businesses without sacrificing your freedom. 🚀
The Secret Meeting That Changed Everything
The fire crackled in the hearth, casting flickering shadows on the dark-paneled walls. Andrew Carnegie sat back in his leather chair, drumming his fingers on the armrest. His mind was racing.
It was 1901, and he was facing the biggest decision of his life. His steel empire was at its peak, but the pressure was mounting. J.P. Morgan had just made an offer—$480 million (about $18.75 billion in today’s money) to buy Carnegie Steel and roll it into what would become U.S. Steel.
Selling would mean walking away from everything he had built. Keeping it meant doubling down, taking on more competition, and pushing expansion even further.
Carnegie wasn’t the type to make decisions like this alone.
So, like he had done for years, he called in his inner circle.
A handful of his closest advisors—men he trusted completely—gathered in the study.
They weren’t just business partners. These were the people who had helped him see around corners, who had challenged his thinking, and who had made him better.
They got straight to the point.
They asked the hard questions.
They challenged his assumptions.
They pushed him to strip away the emotion and focus on what mattered most—his long-term vision.
By the time the meeting ended, Carnegie had his answer.
He would sell. And instead of spending the rest of his life running a steel company, he would dedicate himself to philanthropy, education, and peace initiatives.
That decision—the biggest business deal in history at the time—wasn’t made in isolation. It was made in a room full of trusted minds.
And that’s the power of a mastermind.
Masterminds: The Power of Collective Intelligence
Napoleon Hill, who interviewed Carnegie and later wrote Think and Grow Rich, defined a mastermind as:
"The coordination of knowledge and effort in a spirit of harmony, between two or more people, for the attainment of a definite purpose."
It’s a simple but powerful idea:
👉 You don’t have to figure everything out alone.
Carnegie taught Hill everything he knew about leveraging masterminds to his benefit.
But Carnegie wasn’t the only titan of industry who relied on a mastermind.
Henry Ford, Thomas Edison, and Harvey Firestone—three of the most brilliant minds of their era—had an informal mastermind group they called "The Vagabonds." They would go on long road trips together, not just for leisure, but to exchange ideas, challenge each other’s thinking, and sharpen their vision for the future.
Every successful entrepreneur, including modern-day billionaires, have used masterminds to gain perspective, accountability, and strategic insight that they couldn’t get on their own.
They understand a simple but powerful truth: No one succeeds alone.
Success isn’t just about what you know—it’s about who you have in your corner.
Even Jesus Had a Mastermind
Now, let me be clear—Jesus’ twelve disciples weren’t a business mastermind. But think about it:
- He chose them with intention.
- He mentored them, trained them, and guided them.
- They learned from each other and grew together.
- They had a common purpose and a shared mission.
That’s the essence of a mastermind—a tight-knit group aligned around a common vision, where everyone is strengthened by the collective wisdom of the group.
The same principle applies to business and life.
Growth doesn’t happen in isolation. You need people who push you, challenge you, and see what you can’t.
What About You? Who’s In Your Inner Circle?
The truth is, most entrepreneurs are trying to build their businesses alone—and that’s why they stay stuck.
You can be talented, hardworking, and ambitious, but without the right people challenging you, supporting you, and pushing you forward, you’ll hit a ceiling.
Masterminds can be formal or informal—but the key is having one.
Some entrepreneurs rely on a tight group of mentors and peers they call for advice. Others, like Carnegie, Ford, and Edison, structure their masterminds intentionally.
The point is this: When you’re facing tough decisions, your perspective alone isn’t enough.
You need advisors who challenge your blind spots, peers who have been where you want to go, and a structured space to test your ideas before making big moves.
That’s why I built The Exiter Club—a mastermind designed for high-level entrepreneurs who want to scale their businesses and create freedom without burning out.
Next Up: The Mastermind That Built an Empire
Next, I’m sharing another cool story—this time about Henry Ford, Thomas Edison, and the mastermind group that changed the world.
They called themselves “The Vagabonds,” but make no mistake—their ideas helped shape the modern world as we know it.
Stay tuned—this is one you won’t want to miss.
Go beyond the grind,
The Real Jason Duncan 🚀