Investing in yourself and your business with a mastermind.
You know what it’s like when you do something stupid? For instance … spending $10,000 to join a mastermind?
<GULP>
“Did I really just do that?!?”
“What will I tell my husband?!?”
“How will I PAY for it?!?”
Well, that’s exactly what I did back in March 2017.
I joined a mastermind group.
At the time, I had no idea what a mastermind was.
All I knew is that I attended a three-day, in-person training event for small business owners and solopreneurs, and wanted to keep on attending … learning … being challenged … meeting others just like me who are also trying to grow high-earning businesses.
By high-earning, I mean six figures and upward.
I’m not ashamed to say that my personal goal is to be at the helm of a Million Dollar business.
Investing $10,000 to get to $1,000,000 is a pretty decent ROI, wouldn’t you say?
Well of course I didn’t earn $1,000,000 during my first year in the program.
In fact, I didn’t earn much at all.
My first year in the mastermind was also my lowest-earning year EVER.
The number is so low that I’m even ashamed to say it, much less whisper it.
$13,000
But during that year I also moved closer to my dream of leaving the dollars-for-hours business model, an unsustainable way of creating the life and future I want.
Some of the things I learned in the mastermind moved me closer:
- How to create packages for my writing and editing services; I launched a completely new section of my website called Packages. It looks pretty spiffy; check it out if you’d like.
- How important it is to systematize my business; to that end, I created a get-acquainted-call process that leads prospective clients on a journey designed to highlight my professionalism and requirements. It’s a way to turn away cheapy seekers and attract people who believe in quality as much as I do.
- Why I need online funnels to lead people through the stages of awareness, interest, consideration, and sale. I already knew how funnels operated, but I had yet to create one for my business. Now I have several in place.
- How to BE the owner of a successful business. This I learned from our mastermind’s leader, and the many business owners inside the room with me. At each meeting, a little more of each of these people rubs off onto me, turning me into a greater, bolder vision of myself.
- That I and my services ARE valuable. I didn’t think I needed validation … after all, I know I can write. But to hear it from so many people over the course of the year … especially a year where I made that tiny revenue number … well … that validation kept me going strong in pursuit of my goal.
As my first year’s membership drew to close, I struggled over whether or not to join for a second year. When I joined the first time, I had promised myself (and my husband) that I’d earn more than enough to cover my membership fee.
I did, but just barely.
As I was dickering over whether or not up re-up, I heard an online business guru talking about a mastermind she joined. It cost almost three times as much as my mastermind, and it included so much less.
Her mastermind offered:
- Four, in-person meetups each year (mine did, too)
- Monthly group coaching calls (yep, same here)
- A private Facebook group for ongoing support (ditto)
But that was all.
MY mastermind, in turn, costs a whole lot less, and offers:
- Four, in-person meetups each year
- Monthly group coaching calls with the lead coach
- A private Facebook group
- Quarterly coaching calls with the mastermind owner
- Six strategy coaching calls with a business coach
- Four mindset coaching calls with a mindset coach
- Monthly business strategy trainings inside an online portal
- Monthly mindset trainings inside the same portal
- Access to several other complete online programs for business growth
There’s more, but the point is … it wasn’t until I heard that other online guru talking about HER mastermind that I realized what a mastermind was … and how much value was included with mine.
I had always thought that the “mastermind” was simply the portion of the in-person meetings where we masterminded with other members. I had no idea that the entire program was a mastermind — and how immensely valuable mine was.
So when the time came to renew, I did so with gratitude.
And I plan to do so again next year.
As I’m typing this message, I’m in a hotel following the first of our yearly retreats. It was such a powerful session. I met fabulous people, and learned so much about myself and how to better position the new direction I see for my business.
It’s an exciting direction, one I know is already leading me much closer to my vision of that Million Dollar business, and a life of abundance, gratitude, grace, and sharing.
If you have an opportunity to join a mastermind — DO IT! At least for a year. You have only money to lose, and revenue and mindset growth to gain.
P.S. This blog post is the post for DAY 1 of my free 5 Day Blogging Challenge. Interested in joining for the next round? Join the tribe to stay informed!
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