Since our masterminds online are doing a deep study on the book Profit First this month, I want to touch on a touchy subject for today.
From the heart of a lifelong entrepreneur and business coach, I can’t believe how little attention I paid to the financial structure of any business I ever owned. It wasn’t until I started online mastermind groups that I came across Mike Michalowicz’s book. It was my friend, Scott Beebe, who introduced it to me. That book changed my life.
What many entrepreneurs don’t understand is that business finance has its own set of principles, just like personal finance. Either you work for your money, or your money works for you.
That might not sound too bad if things are going well for you right now, but it’s music to the ears of someone whose business is threatened by our current economic state. If your business’ expenses are fully, or even partially covered by passive income and...
Something that might catch you off-guard when you start your own online mastermind group is how many people have never heard of the concept.
I have to admit, when I attempted my third retirement in 2010, and Dave Ramsey and Dan Miller talked me out of it, I only knew about our business mastermind, the Eagles. It never occurred to me that there were hundreds or thousands of groups online. I started my next career with one-on-one business coaching services, for just two clients.
Coaching proved difficult to scale, however, and I’m not the type of person to have a small, local operation that only serves a handful of people. Whatever business I’ve ever done, it’s always scaled. I do multiple locations, I hire lots of employees and I always have my eye on providing more value to more people.
Still, a lot of people don’t really understand the idea. They’re even less certain of how to own and operate a mastermind business. I want to point...
Have you ever led a seminar or sold from the stage? You might know the calculations you need to turn a profit. Let’s say you need twenty people to buy … that means you probably need 150 to show up, which means you need to invite 500, and so on. The pathway to profit is usually reverse-engineered.
We had our very first webinar for The Mastermind Playbook last month, and we had a great turnout. The numbers were right around what I just described - 25 percent of the registrants showed up, and 20 percent of those who attended, invested. I don’t like to reduce people to numbers, but numbers are useful when you’re trying to make projections or reasonable predictions about people.
In fact, that’s what I want to share with you today. Numbers are extremely useful when it comes to anticipating the power of online mastermind groups. In this blog, I want to talk about a general principle they bring that changes the game - not only for you, but also...
When I started coaching entrepreneurs, I wanted to keep things small. I found two pilot clients, and that was as far as I wanted to go back then.
I didn’t anticipate the value my experience brought to those two clients. Their businesses began to take off, and word began to spread. Soon enough, I was taking on more clients. But as you may know, business coaching services have a “ceiling” on the amount of time you can devote without becoming unhealthy.
I didn’t want to spend every waking hour on work. That’s what led me to mastermind groups. It was the same kind of work; I’d still coach and mentor people. But I’d no longer do it totally by myself. The substance of each session wouldn’t depend on my ability to figure out solutions.
Reasons to Quit Coaching and Start Masterminds Online
I have nothing but respect for business coaches, and to this day, I still privately coach a few clients myself. But each...
On one of our recent team calls, we were trying to figure out the best strategy for responding to the Coronavirus scare. Reports trickled in of the men in our mastermind groups, in various emotional states. Usually, the ones I heard from were anxious or apprehensive.
We were concerned about the size and scope of our response. Was it enough? Would we get lost in the shuffle? Would we face a loss of members, because we failed to come up with the right tactics?
That’s when my friend, Scott Beebe, pointed out something I’d forgotten. It’s funny how he said it, but it made total sense: “You have to realize how unlikely, how difficult it is to get a group of eight to ten men together once every week, nearly every week of the year.”
That tells you something about the world in 2020, doesn’t it? We now pay dues to belong to groups that used to exist for free, because people got out and socialized. But Scott’s point...
Aaron Walker, the creator of The Mastermind Playbook had a great time as a guest with Ray Edwards Show as he discussed how you can have a multi six-figure (plus) business if you follow the steps he and his team layout for you and transform lives while you are doing it. I really believe this interview could be beneficial for you. I hope you enjoy this.
Some snippets below of their conversation.
Ray Edwards: You've made a huge contribution to me, my legacy, to the family, to the families of the people who are in the groups that we're creating. I want people to hear the passion in my voice for what is available here. If you're interested in doing this, and I think everybody could do this, who's listening to me and we wouldn't be anywhere, we
wouldn't even touch one 10th of 1/100 of 1% of the potential that's out there in the
marketplace. If you're worried about that, you can set that aside because this is the
future. This is human connection and wisdom at...
We’re just two days away from the first-ever Mastermind Playbook webinar. I’m really excited to share the big picture of how you can change lives, while also having your life changed. But I know that for some people, the first hesitation they experience is about details.
Let’s face it, if there’s one thing worse than failing at launching a new business, it’s succeeding! How do you keep track of all your new customers? How do you keep initial momentum going? How do you repeat the first “buzz” you get? Frankly, it’s a lot more than anyone person should have to think about.
Well, that’s exactly what happened to me when I walked through the fire of starting Iron Sharpens Iron. But the good news is I kept a record of everything we went through. We developed our processes and systems in amazing detail.
So when we created The Mastermind Playbook, we included two complete courses inside the program itself. You also...
If the last month taught me anything about mastermind groups, it’s that there’s always more shaky ground in people’s lives than I think.
In a matter of days, we went from working through standard issues in our online mastermind groups to consoling and counseling some terrified men. While the details must remain private, I think it’s safe to acknowledge some things. Several businesses in our group depended on ordinary, routine things we took for granted before the Coronavirus scare.
I want to talk here about something you can do to be prepared for the next time everything gets turned upside-down.
But we aren’t talking about how to hoard ammunition or toilet paper. That’s subjective and fear-based. Not everyone on these calls needed reassurance. We also had several members of who experienced spikes in revenue and sales. The inconvenience of the panic was offset by a surge in income. It would be foolish to assume everyone...
My good friend, who has been on the same mastermind with me for decades, Dave Ramsey, has some good words about The Mastermind Playbook. I am truly grateful and humbled. Watch him here - https://vimeo.com/391045743
This is exactly what we'll talk about on a FREE Webinar on Thursday, April 16th at 11 AM CST. Sign up now!
We will teach you how to build a profitable mastermind and we'll also give you a Mastermind Launch Plan just for attending. Limited seats available so please reserve your spot today.
"My good friend Aaron Walker and his Mastermind Playbook is ABSOLUTELY INCREDIBLE"
What an exciting but surprisingly emotional day it has been. About six years ago, my dad was on a podcast called Entrepreneurs On Fire (EOFire.com) with John Lee Dumas. This launched our business, Iron Sharpens Iron Mastermind.
Today, Dad's 5th episode with EoFire was released! This is such an honor and a blessing!
I had not heard the interview until the release, and I immediately cried like a baby when they started talking about our newest division, the Women's Mastermind. It sort of felt like deja vu, and I just sat there and praised God for all that He has done within this company. It kind of feels like a whirlwind of goodness and growth, seeing hundreds of lives change, and genuine relationships built, all squished together in just a few short years. The interview was actually about our online product, The Mastermind Playbook - a turnkey business in a box that teaches you how to start, run, and scale your own mastermind. It truly does not leave out one step -...