Andrew Carnegie and The Power of the Master Mind

Napoleon Hill, author of Think and Grow Rich, first defined the mastermind as a “coordination of knowledge and effort, in a spirit of harmony, between two or more people, for the attainment of a definite purpose.”

As you probably know, Napoleon Hill’s mentor in many ways was Andrew Carnegie. It was actually Mr. Carnegie who told Hill about the awesome power of a Master Mind group.

I truly admire what Andrew Carnegie was able to accomplish. Born in 1835 in Scotland, he grew up in a family that believed in the importance of books and learning, and ultimately became one of the wealthiest businessmen in America.

At the age of thirteen, Carnegie came to the United States. His family settled in Allegheny, Pennsylvania, and Carnegie went to work in a factory, earning $1.20 a week. He advanced at the factory and later found a job at The Pennsylvania Railroad.

At a relatively early age he began investing in businesses (another reason I admire him!). He ended up in the steel industry and the Carnegie Steel Company.

One of the unique aspects of his business empire was that he literally owned every step of the process – the raw materials, ships and railroads for transporting the goods, and even coal fields to fuel the steel furnaces. By 1889, Carnegie Steel Corporation was the largest of its kind in the world.

In 1901, Carnegie sold his business to the United States Steel Corporation, earning him more than $200 million. He basically spent the rest of his days giving away his money. I really admire his philanthropy!

Andrew Carnegie attributes his incredible wealth and success to his Master Mind group. At the height of his business empire Carnegie had 50 men that he considered a part of his Master Mind group. All of them were dedicated to and focused on his success. And man oh man did it work!

If you would like to know more about the power of a Master Mind group and how to set up your own, check out this blog post:
i-BusinessTrends – Andrew Carnegie