Bella has flipped the script on the Podcast today and is bringing you a one on one look at the hype and hive of becoming a part of a Mastermind. Are they a right fit for your personality and business? Bella breaks down the power and the responsibility of joining a mastermind.
Biggest Takeaways You Don’t Want To Miss:
- What is a Mastermind? The popularity of Masterminds have been on the rise and they can help your business, but exactly what are they? Basically, a Mastermind is a group of people that have come together collectively to help one another. The difference of opinions, resources and experiences are shared in an environment where people strive to better their lives and businesses.
- What Masterminds ARE NOT. It is important to understand exactly what they are before you join one. They are not coaching groups. There is “group thinking” but not direct teaching or coaching. You have to be accountable for your own learning from the lessons of others journeys. It’s not a place to vent. They solve problems, but it is not a place for complaints without solutions.
- Examples of what makes up a great group. Great Masterminds are all about being laser focused. These groups directly set out to achieve specific goals. What’s more is that they are primarily member driven. All members put their minds together to help each other stay on target. Also, leadership really does matter. A great leader will help keep the topics flowing with knowledge and authority.
- Look for a new series all about Masterminds, coming to our blog and Facebook page. A place full of accountability partners, challenges, comradery, and tons of mutual support for growth.
Show Highlights:
- Why would someone join a Mastermind? [2:15]
- What it takes to be in a Mastermind [6:45]
- Investments separate groups [10:45]
- They aren’t just trying to sell you something [12:30]
- Learn more about Jump Consulting Masterminds for pet sitting and dog walking [13:00]
Tweetables:
[Tweet ““When you join a Mastermind it’s about overcoming your challenges.””]
[Tweet ““The group is driven by the membership’s ability to support one another.””]
[Tweet ““In a Mastermind, you need to show up regularly.””]
[Tweet ““Masterminds tend to create relationships forever.””]
Links:
Visit JumpConsulting.net/jump-mastermind to find out more!
Stay tuned to our Jump Consulting Facebook page for more to come on the in and outs of Masterminds!
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Transcript:
This is episode 85 of Bella in Your Business. Welcome to Bella in Your Business, where Bella will discuss anything and everything about your pet sitting business to help you land on target. So get ready, Bella’s got your shoot. Let’s jump. Welcome to Bella in Your Business. My name is Bella Vasta, and today I’m actually going to flip the script and just talk to you one-on-one personally. So grab your best cup of coffee or drink and relax and take a listen.
Today, I want to talk to you about what you need to know before you join a mastermind. The reason why this topic has spawned my interest and why I want to talk to you about it is because masterminds are something that are so incredibly powerful. They can really help you, the business owner, and in return, help your company. The popularity of masterminds has been on the rise and it seems like we might hear about them everywhere. If you’re heavily involved in the small business space, I’m sure that you know people who have mentioned being in one. But do you really understand what it means to join a mastermind? Like most things in life, it isn’t always right to just join things because all the cool kids are doing it. So I want to take a deep dive today to discover what you need to know before you join a mastermind.
But first, let’s start off with what the heck is a mastermind. A mastermind is a group of people that have come together collectively to help one another. Typically, they have differences of opinions, resources, and experiences, which makes the group even more powerful. It’s a place where the members can work through ideas, make plans, and overcome challenges with many minds at once. It’s a place they can feel safe and say things they normally wouldn’t publicly, in an environment where the members can be challenged and vulnerable all at the same time. Typically, there’s a strong structure of meetings, attendance, and expectations placed on all members and a cornerstone to maintaining membership. Some meet in person weekly while others meet virtually. Some meet once a quarter at different locations around the country. They vary depending on which one you join.
A way to illustrate the mentality of a mastermind is like a gang. I know it might sound a little bit harsh, but think about it. They all hang together, they act as one unit, and they all influence each other’s decisions. They also hold each other accountable. But why would someone actually want to join a mastermind? For me, there are endless obvious and not-so-obvious reasons why someone would want to join a mastermind. Sometimes it’s for selfish reasons—they want to get as much from the group as possible. They want to take, take, take. Sometimes it’s for selfless reasons. They just want to give back and be part of something bigger than just their own company. They want to be a part of something bigger, maybe a bigger body that’s moving, growing, and forming.
Sometimes people feel alone in business. A big reason why people join masterminds is they feel alone. Either their friends and family just don’t understand their business, or they don’t have many friends on or offline that understand what they do or have the same attitude towards their growth that they do. They feel like they’re always trying to convince people that they have a business and no one really believes them. “My daughter walks dogs” is typically the way someone shows they understand what us pet sitters and dog walkers do. Have you ever been in those conversations where you tell someone what you do and they’re like, “That’s cute,” and they have no idea the monument of a company that you’ve built?
Another reason why someone might want to join a mastermind is simply because they have no support. When things go well, there’s rarely anyone who understands the depth of strength it took to accomplish that feat. And when things are bad and it feels like no one understands, the masterminds are there to help support you. Maybe some might pretend to understand what you’re going through or your successes or failures, but in the end, all they’re really looking to do is tell you what they think you should have done or how wrong you really are—according to them. The people who join a mastermind tend to invite support into their lives, both constructive and good. The group thinks and offers many opinions, resources, and advice.
Another reason to join a mastermind is because you could become a small fish in a big pond. I know many who are at the top of their game, who have a fresh outlook on their business, a positive mindset, and embrace failures as a way to learn. Unfortunately, not everyone is like that, and sometimes you’ll feel like you’re surrounded by people with small minds. Maybe you’re in a Facebook group where you just feel like you’re on top of your game and helping everyone all the time. A business owner must be careful where they spend their time because hanging out in this crowd too long can severely hurt your business. Some people join masterminds just to feel like a small fish in a big pond. It offers them a chance to learn, grow, and explore new possibilities.
Now, equally important, I want to talk about exactly what masterminds are not, because this is so important. If you want to join a mastermind, it’s crucial to understand this. Some people get masterminds confused with something else, and it’s important to be clear what they are so you’re not surprised. The first thing—they’re not coaching groups. If you’re expecting to get one-on-one coaching from the mastermind leader, then joining a mastermind might not be right for you. It gets tricky here, as some have a hard time finding the distinction between group thinking and coaching. While you might feel like there’s a little bit of overlap, a mastermind is not coaching. When you hire a business coach, you’re getting one-on-one work through your challenges and there’s often direct teaching specifically for you. But the beauty of a mastermind is learning not only when the spotlight is on you but also when it’s on others. You can directly apply their lessons to your own business. In fact, most of the learning happens when you witness others’ journeys throughout it.
Another thing that a mastermind is not—it’s not a place to vent. Masterminds are focused on solutions. They solve problems and work through them together as a group. They have a positive “we can do it, we believe in you” attitude and lots of encouragement sprinkled into everything. It’s not a place to complain without looking for a solution. When you join a mastermind, it’s about overcoming your challenges, and by the end, you should feel confident knowing exactly how you can move forward and conquer your obstacles.
In a mastermind, you can’t be a wallflower. The group won’t be successful without everyone participating. If you were at a business networking meeting, you might be able to get away with sitting at the bar and letting the room work you—but not in a mastermind. You need to support your fellow members, offer advice and encouragement, and show up on time. After all, that’s what you expect them to do for you, right?
Now that you understand what they’re not, let’s get down to the basics. Admittedly, masterminds are kind of new to the pet sitting and dog walking industry. No one’s really doing these. So I want to break it down with explicit examples to show you what masterminds are all about. They’re laser-focused. This means participants are directly out to do a certain goal or task, and each group might achieve this differently. I’m in a mastermind with under five people. This mastermind’s task is to put one person in the hot seat at our weekly meeting. We all gather around that person and help them figure out a challenge and create a roadmap. Usually, the person commits to achieving that goal by the end of the next meeting.
In other masterminds with larger groups, sometimes there are monthly themes where everything you talk about for that month has to do with that theme. Masterminds are also member-driven. Just like you can’t be absent and it isn’t a coaching session, the true mastermind happens when all members put their heads together for the common good of the group. The group is driven by the members’ ability to support one another.
The leadership of the group also matters. Although it isn’t a coaching group, the leader should have some clout with the members. They’re the captain of the ship—leading and guiding the group down the road. Leadership helps create topics, bring in experts, keep the tone of the group, enforce rules, and keep meetings on target. They also hand-select or approve members entering the group so you can be assured there’s been some vetting. Alternatively, if there’s a leader without the resources, knowledge, or authority, it might end up chaotic. Ask yourself how much you believe in the leader before joining a mastermind.
There’s also usually an investment. What separates one group from another is cost. You’ll automatically value something more if you have to invest your hard-earned money. If you didn’t invest, you have nothing to lose, and often the way you treat it changes. Masterminds vary in cost—from $19 a month to $60,000 a year. The cost creates exclusivity. Not anyone can just join. It has to be an investment to have your seat and the privilege of being around like-minded individuals.
In a mastermind, you need to show up constantly. They rely heavily on everyone being present. Regular meetings require you to get to know one another, so attendance is a must. Even if you’re not in the hot seat that day, there’s still a lot you can learn from others’ challenges, and you might have the key advice that helps them. The group is only as good as the members that show up. It also helps hold members accountable.
Is a mastermind right for you? It’s always tough to tell, but at the very least, contact the organizer of a group you’re considering. They’ll be able to tell you. You might think, “Yeah, right, they just want to sell me,” but here’s the thing—it actually hurts them if you’re not a right fit. One bad apple can throw the whole group’s mojo off. If you’re at the point in your business where you want to be held accountable, take your business to the next level, and need a group to help you expand your horizons and cheer you on, a mastermind could be for you.
It’s just as much about giving as receiving. The network that naturally happens in these groups tends to create relationships that last forever. I created in June 2017 the first-ever Pet Sitting and Dog Walking Mastermind. It’s an incredible group full of business owners making over $50,000 a year. We have accountability partners, challenges, camaraderie, and two one-hour Zoom calls a month where we talk about our wins and challenges. We have one hot seat a month where I pull in an expert guest—someone you’d normally have to pay to see, but they’re in our group helping us. Every month there’s a new theme.
If any of this sounds interesting to you, check us out at jumpconsulting.net/jump-mastermind. If you liked this episode, I’d love for you to subscribe on iTunes, Stitcher, or Google Play—or wherever you listen. Leave a comment to let me know if this resonated with you or inspired you. Business can get lonely, so always remember to keep jumping.
Thanks for jumping with Bella in Your Business. For more information, free articles, free coaching sessions, and more, go to jumpconsulting.net. And remember, Bella’s got your chute.