ABOUT THE ENTREPRENEUR MASTERMIND SHOW:
Lucky you! You get to listen in on real-life Mastermind conversations. In this episode, you’ll hear from an Entrepreneur CEO sharing a business challenge.
Then a group of smart business owners will give that person nitty-gritty, honest insight and practical advice to solve that problem.
Be prepared for your own “ah-ha’ moments as these entrepreneurs share their no-bullshit experiences of what’s working in business today.
In This Episode: Mastermind FAQ’s Answered, part 2/2
In this bonus episode, Kickass Masterminds CEO Sara Christensen gets asked some more FAQs about Masterminds by her partner in the business and life Scott Davis.
Is there a curriculum in a Mastermind?
Why should someone join a Mastermind?
What are the benefits of being in a Mastermind?
If you’d rather read the transcript of their conversations, here you go:
Sara: Hey. Welcome to episode number 33 of the Entrepreneur Mastermind Show, and Scott and I are back to answer the rest of the most frequently asked questions about masterminds.
So on episode number 32, Scott asked me questions and I answered. What were the questions?
Scott: Questions were: What is a mastermind, number one, when should I join a mastermind, number two, and how do I find a mastermind, number three.
Sara: So if you want to know the answers to those, listen or watch episode number 32. Today, we’re going to answer, how many more? Three?
Scott: We have three more. You’re halfway done.
Scott: Halfway there.
Sara: All right.
Scott: Living on a prayer. There you go. Bon Jovi this.
Sara: Let’s do it.
Scott: Let’s Bon Jovi this.
Scott: All right, my dear. Question four for our lustrous viewers, is there a curriculum in a mastermind?
Sara: A simple answer is no. There should not be a curriculum in a mastermind. If there is a curriculum or classes or courses, it’s not really a mastermind. It’s a group coaching program. Group coaching programs are awesome and amazing and they have their place, but in a mastermind, they don’t because a mastermind is all about solving the current problems that you have in your business with your peer group. Not having a guru or coach or a teacher teach you what’s in their curriculum. Not necessarily what you need or want.
So, for example, in Kickass, if Instagram ads were really top of mind for me right now, I want to focus on that. I don’t want to be learning about how to build my email list.
Sara: So it’s really we don’t do curriculums. In true masterminds should not do curriculums because the topic should really be about what people are struggling most with at that moment in time.
Scott: Sure. It’s organic. It’s fluid.
Scott: It’s based on other’s based, not guru based.
Scott: Good, I like that.
Sara: Can you hear the dogs?
Scott: I can hear the dogs.
Sara: Can you guys hear the dogs?
Scott: We have dog prisoners behind a door, and they’re digging for an escape. Shawshank dogs.
Sara: They’re throwing their bodies up against the door. So if you guys hear some sound like something like this, somebody’s trying to break in. That’s it. That’s what it is.
Scott: Ignore that. Ignore that. There’s no …
Sara: Prisoner in the basement.
Scott: There’s no prisoner chained to radiators down there that I know of. I let them all out last week. So there shouldn’t … Do we have any left?
Sara: I don’t think so.
Scott: Just dogs.
Sara: I think we’re good. Just dogs.
Scott: It’s just the dogs. Are we done? Question four. That was really good.
Sara: Yeah. No curriculum.
Scott: No curriculum. No gurus. No curriculum. It’s all about you.
Scott: I like it. Question five, it’s a quiet question, Sara. Why should I join a mastermind?
Sara: There’s all sorts of reasons why to join a mastermind, but it really comes down to growing your business in a way that’s organic and real for you with the help and support of your peers. So it’s not to learn the next thing. It’s not about learning the next thing even though you will learn a lot. It’s really about implementing and pushing your business forward in the way that it needs to be pushed forward with that support around you. So it’s really customized kind of experience. So the why really comes down to not learning but actually getting shit done and having people holding you accountable and support you through doing that.
I always tell people don’t join a mastermind in your first year of business. Don’t join a mastermind if you aren’t full time in your business. Those are the times when you need to be focused on learning. Like taking the courses, doing the group coaching programs, getting kind of all that foundational information, and when it’s time to join a mastermind, which I guess when wasn’t your question, but it was mine. But the when and they why really play in together because when it’s time to take all the information that you’ve learned and apply that in your business and start getting your fingers dirty versus just learning the … What word am I looking for? The concepts. That’s when and why to join a mastermind. It’s when you’re ready to get shit done and be supported doing that.
Scott: I love it.
Sara: Did that make sense?
Scott: Makes perfect sense. It’s kind of like a professional Spanx, right? You have all of your people who know how to support you and to get you in tip-top, fit shape. It’s like a business Spanx for business.
Sara: Spanx for business. Shapewear for business. To hold you together and make sure that nothing goes crazy.
Scott: It’s the shit you need when you need it.
Sara: That’s good.
Scott: I like it. I’m going to brand that. How do you like that? Spanx for business.
Sara: Oh my god. One of our dogs got out.
Scott: Oh, imagine that. They’re very smart dogs.
Sara: They are very smart.
Scott: All right, Sara, this is the last question of the day so people can go drink something after this. How will it help me grow my business?
Sara: So similarly … I’m going to give you … Similarly?
Scott: Mm-hmm (affirmative).
Sara: It’s a similar answer to what I described for the last question and that is it really depends at where you’re at in your business and what’s most important to you. So if you’re looking for people to do partnerships with, that’s a great thing you can get out of masterminds. If you’re looking for someone to hold you accountable, that’s something that can come out of masterminds. If you’re looking for lifelong friendships, that’s something that can come out of masterminds. So I love the whole concept of masterminds because there’s so customizable to what you want and need. That’s just the structure.
Our dog is totally trying to bust in the door.
Scott: He’s fine. You’re on a roll. Keep going, girl.
Sara: So whatever it is that you’re looking to gain in your business, a mastermind, the right mastermind with the right people can provide that. But some of the huge things that you can get out of masterminds is you can grow your business because of the partnerships and the connections that other people have in your mastermind. You can have the accountability that other people can give you. You can shortcut your learning because if you can learn from someone else’s already implemented something, it’s much quicker than doing your own academic study or reading the book or whatever and trying to make the mistakes yourself.
Scott: You stop paying the idiot tax. Other people have paid idiot tax, you can surf off of their idiot tax.
Sara: Totally. That’s a great way to put it. I see this happen all the time where someone’s like, “I’m thinking about doing this. Has anyone had any experience?” Then people jump in and they’re like, “Yes, watch out for this,” or, “This is what I tried and it was a nightmare,” or, “This is what I tried and it worked really well.” So you kind of get the best of what’s working in business now from real people who are doing it. It’s not just academic.
Scott: This goes really to your point that you would say it all the time. This is so heavily curated. You have to have the right people who are that business Spanx around you or you don’t have that support, you don’t have that accountability, and you don’t have that community. You’re not getting any benefit out of it if it’s not curated properly. So if you’re self-serving and slaping it together from Facebook, it’s not going to come together nearly in the kind of supportive way.
Sara: No. That’s why having a mastermind that’s curated is important because there’s a lot of lovely, awesome, amazing entrepreneurs out there but it doesn’t mean they’re the right people to support you in your business.
Sara: Part of that is just the logistics around it. Do they have the skills that you want to learn or that you want to implement in your business, and part of it is the interpersonal aspect of it, which is another big benefit of joining a mastermind is just having that support community of people who get you and have your back. I hear so many times people say like, “Okay. I just want to throw this out there to make sure that I’m not crazy.” Because it’s easy when we’re sitting, especially in our home offices or our co-working spaces to come up with ideas or think things and be like, “Oh, is this crazy? Is this awesome? Is this good? Is this the dumbest idea ever?” But to have people to run those ideas by and say, “Yes, this makes sense.”
Our dogs are totally going nuts.
But to have somebody to run that by, it gives you confidence and clarity, and assurance.
We’re going to have to let them out.
Assurance that you’re not just spinning around in your head. That’s another big thing is …
Hold on, we’re going to get the dogs. We’re going to have to let them out. Sorry for that little intermission, guys. Shadow and Lucas decided that they were going to be crazy and that they needed to be fed.
Scott: It’s all right.
Sara: Life happens, right? Okay. Now go away you dog fools.
Scott: Go away.
Sara: So we were talking about how a mastermind will help grow your business.
Sara: Okay. So the last thing that I want to mention is that there are so many things that come up in our businesses that are road blocks, that are problems that we hit that we can spin around on for a long time and not make forward progress. But when you’re in a mastermind group, you can immediately solve those and move on. So instead of spending three days wondering what you should do about something or just being totally stifled on a project, you can ask your mastermind buddies, “Hey, what do you guys think of this,” and get an answer and move on. So it accelerates the rate which you can grow your business because you don’t get those situations that your stuck or you’re having analysis paralysis or you’re just don’t know what to do. You can use them to help get an answer an move on.
Scott: Listen, I’ve been in great corporations my entire life, and the reason people succeed in great corporations is they’re surrounded by excellent people and you can knock on their door, sit down, and do an impromptu group think, right? Either in a conference room or in offices, you can go up on a white board and sketch things out, and you can bounce things off. Regular meetings are fine, but these friendly, group meetings where you get to choice and self select the people that are in your little corporate mastermind, that’s what pushes through problems. But you’re surrounded by the best talent in the world, right? That’s what this is. This is bringing people of high, high talent together with complimentary skills that help each other on demand when they need it. Whether it’s an official group or whether it’s, “Hey, I need your help today.” I’m knocking on your office door and walk in with a marker on the board. That’s exactly what this is. This is social energy delivered into the business world.
Sara: I like it. I like the word on demand too because it really is. If masterminds are structured properly, there’s a structure and like a way to connect in with people on demand but not have it be disruptive in everybody else’s business. So that totally makes sense.
Sara: All right. Thank you.
Scott: You’re very welcome.
Sara: Cheers. Appreciate you answering or asking and me answering, and thanks everybody for the patience with the dogs.
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