The response to my announcement Friday has been great! But there has been some confusion I need to address:
You're not too late to get in as a charter member!
(Update: OK, it is now too late to get in as a Charter member. Open enrollment is over, but see below for what's available now.)
Quite a few people apologized profusely that they took a day (or even just a few hours!) to respond with their interest. I suspect there are others who figure they're now way too late, but they're not: I'm not in a rush: there is still plenty of time to let me know you're interested in being included in my Mastermind group with other people like you, which I'm launching around the end of the month.
But you do need to do something very soon to ensure you get a spot as a Charter Member in the group. So continue reading carefully.
First, I have an exciting addition to that news: two very knowledgeable people will be joining me in the group to help you and lend their considerable expertise.
I'm not "naming names" yet, but the first is an entrepreneur in the Internet Marketing field -- one of the most respected names in that space. He has helped literally thousands of people get started in online businesses and is a respected leader of the Warrior Forum -- if you're at all interested in the Internet Marketing space, I likely don't need to tell you what that is. As he has time to participate in the new group, he will help guide group members interested in creating and running Mastermind groups relating to online business ventures.
The second had a significant career with a major company (one of the "Fortune 50", which is also on Fortune's "100 Best Companies to Work For" list), where he was responsible for major projects -- and for interviewing and hiring hundreds of professionals to work on those projects. He has since gone on to a successful career with his own business, and is an active member of my "Hotshots" group. As he has time to participate in the new group, he will help guide group members interested in creating and running Mastermind groups relating to more conventional careers, and with those working to make the transition from corporate jobs to entrepreneurial jobs.
Of course, I'll be there too, as the main leader to lend my expertise in helping you start and run your own Mastermind group. We will definitely cover how to find and recruit other members, how and why to charge dues (and how much!), the nuts and bolts of how to set up an e-mail list so your group can communicate, and much more.
Who I'm Hearing From
So far I've heard from a lot of people in the U.S., of course -- from California to New York, and from Texas to Wisconsin. But interest is a lot wider than that: I've heard from multiple provinces in Canada, and from two different people in Mexico. Outside North America there have been serious inquiries from people in Australia, Panama, the U.K., and New Zealand.
Not everyone noted what their "dues cutoff" might be, but most did. It ranged from a couple who thought $10/month would be good (which, really, shows they have no clue whatever as to the value of a good group, especially since I termed $15 a "ridiculous" number), to $250/month -- "and certainly willing to pay much more as the group evolves" (which is from someone who does grasp the value!) Most people were in the $100-150 range, though, which tells me that the core of the group is quite realistic as to the proposition of, as one person from outside the U.S. put it, "you don't make money without spending money :-)".
Action Still Needed
So if you haven't already gotten back to me, the "action needed" is still this: let me know right away if you want to be on my special list of Mastermind Source members who are interested in truly working on the goal of creating and running a Mastermind group. Being in my Mastermind group for Mastermind group leaders will dramatically increase your chances of success.
Please read the announcement from Friday and see below for more.
What Will Be in "Hurry Up" Mode
As the announcement noted, I'm only accepting 30-50 Charter members in the new group -- I just don't have the mental "bandwidth" available to handle more than that right now, especially since I'll be taking time out to write some special reports that will be available to group members for free (and for sale to non-members).
I'll keep the Leader List posted as to progress. As I noted, I've signed a contract with MemberGate, the top-end software to run membership sites like this. They're building the site right now, but it's not ready to go yet! Once it is, I'll send out a message to let you know you can sign up for one of those 30-50 spots. But here's why you will want to hurry: you're competing with literally thousands of Mastermind Source members for that tiny number of spots. They'll be on a First Paid, First Sold basis. If I hit 50, membership will be closed, without the full membership of Mastermind Source getting a chance for a single seat!
Why? The people on the Leader List get first dibs. After 24 hours, if not all the spots are sold, then I'll let people on the main list know they can sign up if they wish. After 24 hours of that, membership will be closed even if not all the seats are sold so the group can get started. You can only get onto the Leader List if you ask me before launch, which will be around the end of this month!
P.S. I'll update this post to let you know when it is too late to get in on the Charter membership. (Update: It's too late. But read on!)
Post-Launch UpdateThe "open enrollment" period has ended. I had hoped for at least 20 members for the "Insiders" group, and was willing to accept as many as 50 -- and got 46. Already at least one new group has been started by an Insider, and people are starting to sign up for it. Wondeful! But I'm still not willing to take on a huge influx of members to the Insiders group. I want to ramp up slowly to ensure I have time to pay attention to the goings on. As I can free up more time, I'll accept more members. So I'm taking applications for membership. If you're truly serious about starting your own group, and want help from other people who are serious (and from me), you should put in your application for Insiders now. I'll be looking through the applications as they come in, and as I'm ready to take on another member or two, I'll choose from the best-sounding applicants and invite them to join. So take a little time to think about not just what you want out of the group, but what help you can offer to the group -- software expertise? Organizational skills? Recruiting experience? -- and include that in your application. |
I was to have moved last Fri to a Program Manager position, where I thought I would be more likely to make use of a Mastermind group; however, due to circumstances beyond our control, our programs have been put on hold pending review of the contract award decision.
As such I have read and saved all of your posts, and have found them all very interesting and thought provoking, and I have certainly saved everything away for future reference/use.
While I do imagine it would be better to start my own group and be the benevolent dictator vs. joining another existing group, I can see advantages & disadvantages to each. The former, although more focused, is certainly a lot more effort (particularly initially), where the latter might not possibly be the right focus or difficult to locate the right group but would certainly take a lot less effort (particularly initially).
As a techie, I'm certainly more into e-mail than 'crusing' Websites, Blogs, RSS, and the like, but as you point out, we ought not limit ourselves to one means as different values and benefits can be derived from the different functionality.
If I don't provide feedback, it's not because I'm trying to be one of the non-equitably participating group members you mention in your early articles, it's just that I'm busy working my current position (and why I'm still here at work at 2230 hours), and I'm not working on starting a group probably until the other situation is resolved.
Thanx Very Much,
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I appreciate your feedback, Gerry, and hope when your work situation stabilizes you'll be able to move forward (one way or another!) with a group. -rc
My biggest hurdle to running a mastermind group is identifying a group I am familiar with or involved in, that people would be willing to part with money to be a member of.
In my mind, it needs to be something members will see genuine income benefits from in order to be worth the money it costs so this excludes hobbyists.
Now, I work as a sales support/admin minion. I have no specific technical skills, no uni degree or unique money making skills. At the moment, the best idea I have come up with is "People looking to start a small business or enterprise on the side of their day job."
So, that's what's stopping me at the moment. Identifying what I kind of group I would run, given my lack of a professional niche.
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Ideally you need to focus a little tighter than that. I'd guess you think of yourself in more specific terms: what would you be looking for to find "people like you"? -rc
I'm definitely interesting in starting a mastermind group.
My concern at this point is, can you start and run such a group while still keeping a "real" 9-to-5 job, at least at first?
Also, there's currently a wide discrepancy in what I think joining your group would be worth, and what I can afford to pay.
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That you understand the value of groups is a primary goal. As to your concern, yes: you can if you have time for anything extra. I have worked 60+ hour weeks for most of the time I've been running my group, which I can do since I consider it a priority. But: I don't have kids to take care of. I'd guess I spend 5 hours/week with my group (both in learning and in managing) on average. It's a bit more at year-end, dealing with whether anyone is choosing to drop out, collecting dues, etc. So: can you afford an extra 5 hours/week? Most people can, but I do recognize not everyone can. -rc
I haven't commented in awhile...deer-in-the-headlights probably best describes my current state. I'm a life-long student always wanting to learn more -- that's what hooked me on the Mastermind idea and wanting to branch out our business. Honestly, I'm in awe of how your brilliant Mensa-mind works, Randy. My husband is also one of the top 2% (though not a Mensa member) and I (at only 75%) continually find myself lagging behind.
I seem to be continually playing beat-the-clock with current priorities, so realistically don't have the extra five hours necessary to run a mastermind group. *sigh* Perhaps the time's not right for me and I'm jumping the gun a bit.
All that said, I fell privileged that you'll allow me to continue receiving the Mastermind articles; but I don't have the wherewithal to join the elite Leaders Group.
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You don't exactly strike me as a slacker, Karen. Come back to it when you have more time. I think you'd be good at it. -rc
I suspect I may be representative of quite a few of your readers. I am following your Mastermind articles quite religiously, and I am quite confident that as a whole, they will offer a follower clear success. My reservation about jumping in is this: I haven't yet clarified the purpose of the group that I would form.
I am a retired civil engineer, and currently invest in real estate and other investments. I am considering formation of a real estate investor group, but it's not yet clear to me what expertise I should try to include. I'm thinking it should be other investors, and the problems we solve may be: property management; locating quality properties; minimizing purchase costs; negotiating purchases; etc. I am fearful however, that I have insufficient knowledge to be worthy of my own group! It is a relatively new enterprise for me (R.E. investing) and I don't bring much experience to it. What I know I got from books.
I am also fearful that I have insufficient resources to fully participate in this group. Will my members take off in directions (expensive properties) I can't afford? Can I limit or restrict the discussion to be relevant to me?
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You wouldn't want to. Let me start from the top. It's not too likely that the average reader is retired, but as you have already figured out, that's OK too: you could still benefit from a group, and the one you suggest would be a good niche. The way I would start this is to find people like you -- fairly new to RE investing -- with the purpose of supporting each other to learn more. Over time, the group's charter would morph from "beginners" to "experienced investors". You will likely lose a few members over time -- those who aren't truly serious about getting to the "experienced" level; I would presume you are serious that one of those would be you! And that's when the real fun begins, since you'd be able to attract really experienced people who could help push things to an entirely new level. This is pretty much what happened with my group, substituting "online-based entrepreneurs" for "RE investors". In other words, it's not just doable, it's rather normal. -rc
I really would like to join, but feel a bit timid because the kind of people I envision as comprising my group would be much more experienced than I. I want to set up an online copy editing business, and I'm not quite sure how to go about it.
I'm a recently retired English teacher with 28 years of experience in teaching reading, writing, and grammar to people at grade levels ranging from fifth through college. I have spent thousands of hours copy editing (also called grading) my students' writing. I've also copy edited letters, books -- you name it -- for friends and colleagues. But I've always been the go-to person in any setting I found myself in, so I just do not know any other people like me. So naturally I don't know anyone else who runs or wants to run this kind of business.
I'm dead serious about my commitment to making money. My retirement income does not equal my living expense, so sitting back and taking it easy is not an option.
Blessings on you for the help you are giving people like me, Randy!
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You said, "I really would like to join, but feel a bit timid because the kind of people I envision as comprising my group would be much more experienced than I." But then you go on to give superb credentials. I believe you are perfect leader material. As a writer and publisher, I can't tell you how many people have offered editorial services to me (even on this still-quite-new project). There are enough people out there just like you to populate a large number of groups. -rc
I am watching your exhortations to step up with significant dismay, as I would dearly love to be a member of a group such as yours, but I don't feel I would be a qualifying member, as indicated by the monetary value of membership.
I have re-written this message several times, and what it comes down to is that the business I want to start a group to grow has a starting fund of only a few hundred dollars, and I had to scrape that together and guard it carefully to keep it from being absorbed by just our household finances. A group like yours would be invaluable, but it seems to be out of my league.
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I do know that people with great business ideas (or very worthy non-profit causes) won't be able to afford to join this group. But the free articles are not going away: all the free material remains free, and it covers all the main topics a group leader needs to know. As far as you know, that was all I was ever going to offer to anyone.
But meanwhile, some portion of the membership here wants to go much deeper, and I have a wealth of knowledge that will help them -- and the Mastermind concept will help them to be more successful in their endeavors. I'm only one guy, who has also had to fight the so-called "Great Recession" and its aftermath. I'm doing my best to accommodate them, providing what I anticipate is more value than the price charged, just as I've been helping thousands of people providing quite a bit of very valuable material for free. -rc
OK, that old "fear" issue pops up when you think of doing something like this and I can commiserate with the person who can't afford this. On the other side, how can I NOT afford this if I want to move ahead in the game?
My business is not for "older" people as you need to be able to move quickly at times (when a dog tries to bite or a horse tries to kick) and I think it's about time I take advantage of all the people who tell me they want to learn to do what I do because it is their dream job. Since the olden days we used to "apprentice" a person to the "master" to learn the business before going off and making their way, why can't I form a group in my own niche and be the master of apprentices? I have to get over my trepidation in some way so I guess this is it! I'm glad I signed up!
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That's one of the reasons my group is effective for me: they push me to venture out of my comfort zone and try new things. One such result? This site! -rc
I belong to one group that costs $600/year and one that costs $400/year, so I am about tapped out. But somewhere in that range is obviously reasonable to me for a group that meets all the standards you are recommending.