It's a Small World

I had come to California because Russ, an old friend, throws big holiday bashes every year. (Russ really loves the Christmas season!) My wife and I are invited every year, and like to come every other year or so. John was one of Russ's many other friends who loves these parties, and he knew I was going to be there this year. I've met him before, but I didn't know John was a member of this site.

"I'm not bothering you, am I?" John asked before he went on. He didn't want to interrupt my enjoyment of the party, and was happy to let me go if I wanted to mingle. "I'm probably the only person in the world that doesn't understand this...."

Not at all, I assured him: I have no doubt many other Mastermind Source members are confused and are not sure what to do next, after reading the Core Article series. I told him I'm happy to answer his question, on the proviso that I could write it up for this site so others can listen in to our conversation. He said that was fine, so here we go!

The answer to his question: I'm definitely not trying to start hundreds or even dozens of new Mastermind groups to help you all succeed. I don't want to be the only one in the world creating groups, I want you to create groups! I want you, and your group members, to reap the benefits of getting together with other professionals in your specific niche to help each other succeed, just like I've been getting from my own groups for many years. And more importantly, I'm not asking you to pay me a royalty or fee to do it. I'm happy to teach the basics to you and then (this is the important part!) step out of your way so you can do it yourself.

The free Core Articles you received (or are still getting, depending on how long ago you signed up for the mailing list) have the step-by-step basics on how to do it.

Now, I totally understand that a lot of you aren't sure what to do next, even if you've read all the articles. You'd like help with how to apply those basics to your own situation. You want feedback on whether your group idea is a good one, and how to "pitch" it to potential group members. (And you may need some ideas on where to find those potential group members.) You want help setting up a web site, and a mailing list for your group to communicate. You have a "million questions" or, really, you would have a million questions if only you knew what the questions were that you needed to ask!

That's exactly what John was doing: asking what was next, now that he has read the articles. I asked him what he did for a living, and learned he sells specialty insurance products to investors. Where do you find your sales leads? I asked. Others in the business have told him, he said, to set up fancy dinners to wine and dine prospects, and talk to them about the product. Over time, as they are happy with the results of the investment, they'll refer their friends to him.

Hmm, I said. Sounds slow and expensive!

"Yep," he agreed, especially since what most people really seem to want is a free fancy dinner! He's spending hundreds of dollars a week, and admitted he is selling so few contracts that he's barely scraping by, even though he has a great product that helps his clients meet their investment goals.

You can be sure John isn't the only one in his profession that's struggling, especially in this economy.

And you can be sure there are also many "stars" in the profession that are making big bucks, and could well be scared to death that it may all end without warning -- especially in this economy. Meanwhile, they're all eating themselves to death at fancy dinners, emptying their wallets in hopes of converting some of those dinners into sales.

I could see that John was miserable.

The Mastermind Solution

Can you see the answer here? How about getting a group of these professionals together, drawn from different areas of the country so they're not competing with each other, and putting them onto an e-mail list? Each can outline what he or she is doing that works. Others can suggest refinements, and apply the ideas to their own operations. When someone tries something new, she can report back to the group on how it worked. Each idea will slightly improve each of their businesses, and it will happen much faster (and much less expensively!) than doing it by themselves.

Bit by bit, their businesses will get better as they listen and participate. At some point (it may take weeks, or it could take some months), they'll realize their sales have doubled. And it doesn't stop: they can double again, and again, and again, as they learn more.

And they may find that buying a dozen people a $100 dinner each week is entirely the wrong way to do it. Or if it is the right way, they can teach each other how to get the right people at the table, so more than a small percentage end up being customers.

Would John be willing to pay, say, $1,000 a year to be a member of a group like that? You're darn right he would! How about if he ran it himself, and collected $1,000, or $3,000, or even $5,000 a year from 30 or 40 others to be in the group to get that knowledge? (I'll do that math for you: at $3,000, that's $90,000-120,000 a year.) Well, he'd practically be stupid not to, wouldn't he?

Am I crazy to think he could make that much running a group? Well, one of the members of my main group realized he had a very special niche, and recently started a Mastermind group for his clients, modeled on my group. The first-year cost, which he promised would increase later: $12,000 each, for a maximum of 45 people. He got more applications than he had spots available in the group, so he was able to pick and choose the very best people to join him.

I don't know about you, but I think I could live on $540,000 a year!

And for him, that's just a sideline -- he already has a fantastically successful business, and his clients know it. They wanted to be in his group because they knew how much they'd learn from being there, so $12,000 (just for the first year) was a no-brainer. Not all of that cash goes into my buddy's pocket, of course: the cost includes two in-person meetings, which will no doubt be held at a nice resort somewhere. But consider this: he now has a brain trust of hugely successful people in his own specific niche to help him in his business too! And how do I know they're hugely successful people? Because 1) they could afford to plop down $12,000 within hours of being presented with this opportunity, and 2) my buddy was able to choose which of them to let in, and he's not going to accept losers!

But let's get back to John.

He has read the Mastermind Source articles, and is now more sure than ever that a Mastermind group is for him, but he definitely wants the sort of help I outlined above.

That help is available, I said: that's what my Mastermind Source Insiders group is about. That's a Mastermind group I started for the members of this site who want to move forward and create their own groups, and want the support of a group to do it. I help them, but even more importantly they help each other with the many questions they all have. As we go along, I expand on the more pressing topics with in-depth articles and special reports, all included in the cost of membership.

John remembered that I've talked about the Insiders here, but said that the application for joining had one question that stopped him cold: what would he bring to the group; what contribution would he add?

"I have nothing to offer to the group," John told me.

Wrong! I said. (And yeah, I said it with a smile!) You have something that the group would love to have: experience on selling things to people face to face. You're comfortable with that. They have a great idea (their own groups) that they need to "sell" to others. They would love to know what you know! That's something most people are terribly uncomfortable with!

I could see the light come on in John's head. It's coming on in a lot of heads right now (including, I hope, yours!)

Insiders is a wonderfully supportive group -- a true Mastermind group itself -- with the goal of helping the other group members succeed at a common goal: building Mastermind groups. It has already led to several groups in various levels of development. One new group leader sent a note to the Insiders last week:

Subject: The Emails Roll In

This morning alone, I've gotten 15 awesome group emails. We're having a discussion about pay rates that is changing the way I think about paying employees.

When I started my Mastermind group, I didn't know how it would benefit me. Now I feel like I'm lucky that I have such awesome wonderful people willing to pay ME for the privilege of helping me run my business.

Wow.

Wow indeed. And that's exactly what I've been trying to convey to each of you all along: the magic you see when a group comes together. Members of the group of people in your field who know things you don't, and are willing to share those ideas with you to help you succeed, because they know they'll be helped the same way.

It's already working for him. It has been working for me for years -- it really is the secret to my business success. It's working in the Insiders group, it can work for John, and it can work for you.

Please: read the articles in the free Core series. If you've read them all, read them again. If you deleted them, unsubscribe and subscribe again so they'll start over, or buy the PDF of all the articles: it's only $25. And then get going on creating a group! If you need help, apply to the Insiders group and get it! Just don't sit there and do nothing. That's what most people do, and that's why most people don't succeed.

You keep saying "I could be successful, if only...." If only what? Someone would show you how to do it? Here it is. I've given you the basics, free. It's not a theory, it's proven to work. So are you going to move toward success, or do the much harder work of coming up with excuses for why you're not?

P.S.: The second party Russ threw this week was at the exclusive Club 33. Russ mentioned my name in his welcome message to the guests, and another guest said to him, "Oh, is Randy here?" and asked to be introduced, so Russ brought him over. Turns out he's a This is True reader. It really is a small world, after all!

And again, if you need help with the next step, as I write this I have about a dozen openings in the Insiders group. Apply here.