MONETIZE WITH A MASTERMIND

Creating a mastermind is a great way to monetize your podcast.

It is easy to wonder why people would pay to be in a mastermind. When you can bring a group of people together to stir the power of a mastermind, it is well worth then investment.

LINKS:

Mastermind Ready Scorecard: http://www.PodcastTalentCoach.com/jay

Jay Fairbrother: http://jayfairbrother.com

Six Figure Masterminds: https://sixfiguremasterminds.com

NAPOLEON HILL

In his book Think and Grow Rich, Napoleon Hill defines the Master Mind principle as, “Two or more people who work in perfect harmony for the attainment of a definite purpose. When working with a positive mental attitude, this group will constitute an unbeatable force.”

Hill goes on to say, “No two minds ever come together without, thereby, creating a third, invisible, intangible force which may be likened to a third mind.”

There are five big benefits of being in a mastermind. When you curate the power of the group, you save your members time and effort trying to create the power themselves.

It takes time and effort to find the right people to create your mastermind. When you bring together the right mix, great things happen.

MY MASTERMIND

I have been in a few masterminds. Each runs a bit differently.

My primary meeting consists of just two people, my friend Jon and me. But it didn’t begin that way.

In 2017 this mastermind was started by Jon and consisted of four of us. We were all in the online business space building and growing our businesses. This weekly meeting provided support and encouragement to each of us.

Six months later, two members left and we had two new members joined. Of our two new members, one only lasted a month.

Over the years, members have come and gone each contributing in their own way. Jon and I have remained consistent.

We haven’t looked for any new members for quite some time. We simply support each other each week to reach our goals.

I’ve been in three other masterminds that have had up to a dozen participants.

From these experiences, I’ve experienced many benefits. Let’s look at the top five.

CHALLENGES

First, we share challenges. Each week we bring the big challenge we are facing.

Just talking out the challenge often generates a breakthrough.

Sharing challenges also shows members they aren’t unique in their challenges and are not going through struggles alone. We all run into hurdles.

FEEDBACK

The mastermind also provides a high level of feedback.

When the members are carefully selected, each has a unique super power. Feedback comes from many different perspectives.

Receiving feedback from and solving problems with a variety of perspectives can be very powerful. It also generates a variety of solutions.

COLLABORATION WITHIN A MASTERMIND

When you mastermind with other amazing minds, you have the opportunity to collaborate with great people.

This is completely different than networking. You are creating amazing relationships with great minds.

OPPORTUNITIES

A group like this can open an whole new world of opportunities. When the people in your mastermind need experts in various fields, they will look to people with whom they’ve already created relationships.

Your group can create business opportunities, speaking gigs, new guests, and a variety of other situations.

ACCOUNTABILITY

Finally, your mastermind provides accountability.

Information alone doesn’t create transformation. It takes accountability.

When you know you have to show up every week and report your progress to members of your mastermind, you tend to take action and get results.

Great things happen when you take action. The accountability through your mastermind will help you reach your goals.

THE MASTERMIND GUY

Today, Jay Fairbrother joins us to discuss the power of a mastermind.

Jay is a serial entrepreneur, business coach and mastermind guru with 30 years of experience starting, buying and selling 7-figure businesses. He is now known as the Mastermind Guy.

Jay’s story includes losing everything after the 2010 financial crisis and rising from the shame to shine. He helps Coaches and Experts launch and grow High-End Masterminds.

 

If you don’t have a mentor who can take your hand and walk you every step of the way, go to www.PodcastTalentCoach.com/apply, click the button and apply to have a chat with me. We will develop your plan and see how I can help and support you to achieve your podcast goals.