What is the history of masterminds and peer-to-peer groups?
The history and beginning of the concept of mastermind groups or also known as peer to peer groups can date back to Proverbs: 15-22
"Without counsel plans fail, but with many advisers, they succeed."
The first chronicle of an official modern-day mastermind group in the U.S. is said to have been developed by Ben Franklin in 1727. In Europe, King Arthur is known to have had Knights of the Roundtable in the 12th century.
To understand the evolution of mastermind groups below is a timeline of how the industry has progressed since Ben Franklin's, The Junto Group.
1727: Thought to be the first documented peer group formed by Ben Franklin called The Junto Group. The objective was to promote useful knowledge. It had 12 members (a chemist, physician, botanist, mathematician, engineer, geographer, cabinet maker, bartender, clerk, printer, surveyor) met weekly and lasted 38 years.
1901-1909: President Theodore Roosevelt started his own mastermind group when becoming a young 42 years old to take the oval office.
1921: President Harding was part of The Vagabonds mastermind group consisting of Thomas Edison, Henry Ford, & Harvey Firestone.
1925: Napoleon Hill coined the concept in the book "Law of Success" In 1937 in his book “Think and Grow Rich, “Hill described the Mastermind principle as,
“The coordination of knowledge and effort between two or more people who work towards a definite purpose in a spirit of harmony…no two minds ever come together without thereby creating a third, invisible, intangible force, which may be likened to a third mind”, also known as, the Mastermind.
1950: The first formal member organization, YPO (Young Presidents Organization), was founded in New York by Rick Hickok, a manufacturer, to network and exchange ideas. Forums are an option and separate from networking and social activities. 29,000 members
1957: The first sub-contractor model. Vistage was founded as The Executive Committee (TEC) by Milwaukee-based Bob Nourse, who brought together several diverse executives. 20,000+ members globally. First bought by a private equity firm in 2012.
1987: The first for entrepreneurs. Verne Harnish founded YEO (Young Entrepreneurs Organization) with their first meeting in Nassau with 57 members. Incorporated in 1989. 1996: WEO (World Entrepreneur Organization) is created as a graduate program for YEO members. EO (Entrepreneur Organization) was formed and in 2004 moves YEO and WEO under one umbrella for a single brand. 13,000 members
1990-1994: The franchising model. The Alternative Board (TAB) founded by Allen Fishman with 250+ global franchisees and roughly 3000 members. And Renaissance Executive Forums franchise was founded and is global as well.
1997: First women-only forums. Dr. Marsha Firestone founded WPO (Women's President Organization) as a non-profit. Women-only forums with 137+ groups or 2750 members.
2012: First Published Peer Group book "Sit Down! Speak Up! Cash In! A CEO Guide to Peer Groups was written by Tina Corner Stolz, the founder of LXCouncil
2020: First licensing model: LXCouncil founded in 2013 by Tina Corner Stolz after a franchise with TAB and sub-contractor model from 2005-2019 to develop a collaborative approach between peer groups with moderators all working together for the benefit of their CEOs.
Today it is estimated the market penetration of peer groups into the privately held business sector is just under 10%. This is expected to develop fast, driven partially by the growth (and convenience) of online video meetings
If you're already in a peer group, you are in good company! Other famous people who have said they have benefited from a mastermind group are Bill Gates, Andrew Carnegie, Richard Branson, Oprah, Warren Buffet, and Charles Schwab.
