0 (2s):
Boom, shake the room, Fire Nation. JLD here and welcome to Entrepreneurs On Fire brought to you by the HubSpot Podcast Network with great shows like Duct Tape Marketing. Today we'll be breaking down how to scale to a million with Masterminds to drop these value bombs. I have brought to Brad Hart into EOFire Studios. Brad is committed to helping entrepreneurs and investors reach their full potential so they can focus on solving the grand challenges of our time. He is a bestselling author of two books, and his writing has appeared in Forbes, entrepreneur and Thrive Global. We're also gonna be bringing Jay Fiset on the mic. Jay is the creator and founder at JVology, the perfect mix of people, fun and profits, Fire Nation.

0 (45s):
Today we are gonna be talking about masterminds. We'll talk about how realistic it is to launching Mastermind and make money from it. We'll talk about pricing and quantity, we'll talk about the imposter syndrome and so much more. And a big thank you for sponsoring today's episode goes to Brad, Jay, and our sponsors. The best podcast listening and discovery app in the world is here and it's called Podopolo. Visit Podopolo.com. Download the app, mention John Lee Dumas, my Podopolo username when you sign up for a free account, and start listening now. That's P O D O P O L O.com. Marketing Made Simple hosted by Dr. JJ Peterson is brought to you by the HubSpot Podcast Network.

0 (1m 26s):
The audio destination for business professionals Marketing Made Simple brings you practical tips to make your marketing work. In a recent episode, Amy Porterfield shared her five email marketing Secrets for long-term business growth. Listen to Marketing Made Simple wherever you get your podcasts. Fire Nation, as I mentioned the intro, we have both Brad and Jay on the mic here. Today. We're gonna be talking about how to scale to a million with masterminds. And Brad, you and I, we've been a part of the same masterminds. You know, we did a four-day retreat with Tony Robbins and other top 10 affiliates for his launch. But a mastermind can be a lot of things.

0 (2m 7s):
How would you personally define a mastermind and give a few examples.

1 (2m 11s):
What's up dudes? Thank you so much JLD, for having us on number four. I'm really excited to be back for everybody listening. So yeah, masterminds, I get a lot of questions about this. My personal take is a mastermind is any group of people that come together to get clarity, to find community and to really understand what they have to do next. So once you're clear, once you have people to help you, you have the support, the resources, the connections, the opportunities in front of you to make almost anything happen. And masterminds really accelerate that ability for especially entrepreneurs, but almost anybody, to make a huge difference in their life and their business and in the world.

0 (2m 47s):
Jay, what role has Masterminds played in your life?

2 (2m 51s):
Well, I've been actually number one participating in masterminds and serving and sporting coaches, experts, authors, trainers to position launch and lead their own masterminds for 30 years. And it has played a role in quite frankly, every single significant result that I've ever created in my entire life. It has become a fundamental pillar of virtually every single business that I have built since back in 1991, crying. So there's, there's seriously not a single result that I can't point to this like, wait a second, that came through my friend Ari, who's an Olympian, who I coached for a couple years, who participated in my mastermind, who now put me on for television series.

2 (3m 33s):
Like every single significant result in my life, I could trace back to a mastermind and a relationship I built in a mastermind. And if I, if I could just add something, you know, Brad said this, but I, I like saying this about what a great mastermind is. A great mastermind is this group of people that comes together to share network wisdom, resources and experiences for the express purpose of bending time to create the results that are important for everyone in the group.

0 (3m 58s):
I love that it's a lot of masters sharing their mind with each other to make the whole better. And Jay, I wanna stick with you. I wanna talk about the real world. How realistic is it really to launch a mastermind and make money from it?

2 (4m 15s):
No, it's a hundred percent realistic. The question that I would always push back on in that point is, are you actually positioning a mastermind that makes a difference for the tribe that you serve? And you, the person who is qualified lead that tribe launched mastermind hundred percent for certain. The question becomes is are you ready to do it? Do you have the demand? Do you have the leadership, you have the skills? Do you know what the promise is? And can communicate, articulate that in a powerful they work, the question is, you ready?

2 (4m 55s):
That's the need ready,

0 (4m 58s):
Wanna shift to you? Because timing can be everything or nothing. When is a good time to start a mastermind?

1 (5m 6s):
It's like that old proverb, right? Best time to plant a tree was 20 years ago and the second best time is today. So I don't think there's any reason to hold back like Jay, I believe that there's a right time for you specifically, but if you say someday it may turn into never, and I wouldn't want regret to be on your list of, you know, masterminds to be on your list of regrets when you're looking back on your life. So, you know, the, the consistent feedback I get from people is really three things. It's, I really wish that I had done this sooner. It's, it's easier than I ever thought it was going to be. And it's that it worked out better than I ever thought possible. And that's the client feedback I get over working with hundreds and hundreds of clients individually and thousands through, you know, messages I receive is that they really wish they, they started sooner.

1 (5m 51s):
So I think now is the right time and we wanna provide the very best way for you to get your mastermind launch or just to, to find the right mastermind for you to be a part of. So we're, I don't wanna jump ahead but we're doing something really special here which we wanna talk about here in a minute, is we have an event coming up in March, 2023, that's the 23rd to the 26th and it's an event that's very special near dear to my heart because I'm the living example of how powerful this can be. And that's what we wanna definitely dive into here.

0 (6m 20s):
That brings back a lot of great memories for me because one of the first ways that we monetize entrepreneurs on fire, this is back in 2013, I launched a mastermind Fire Nation Elite. And man I launched way before I thought I was ready. I just, I just put it out there, I got such a big response and I'm like, I just gotta do this now. And I remember I was building it as it went. Like literally I'm on the phone with one guy, I'd already brought like six people in and he's like, you're not charging nearly enough. You need to literally triple it going forward because this is just so much value. And I was like, really? He's like, yeah. I'm like, okay. And so from that point forward, I just started charging three times and was like still getting the exact same conversions. And so like the first six people that joined were like getting in such a discounted rate compared to everybody else.

0 (7m 3s):
And it was just, cuz I didn't really know what I was doing, but guess what I learned as I went And that was so powerful for me and Jay. Pricing and quantity that is such an issue for so many people. Like, how much should I charge? How many people do I need? Can you address these questions?

2 (7m 19s):
I will do my best and Mastermind millions live in Phoenix. I'm gonna teach an entire segment called PPPs. PPPs, genuinely in most cases the, you know, how much do I charge is the wrong questions that we should really be starting with. What is the promise of the mastermind different in people's lives if they participate with you for year or six months or whatever your structure is. So we always start with what's positions is that this isn't like digital marketing or you need a list of thousand people.

2 (8m 1s):
This is, you need a promise that is positioned perfectly for 12 people and you can make a tremendous amount of money and a monumental contribution and value and and difference in people's lives. So, you know, it could be as little as in my humble opinion, six people, it could be as large as 18 people for something more in the in intimate nature. And you can go a whole hell of a lot larger than that if you can scale, you know, different cohorts and those sorts of things. But if we go positioning then structure, what's the structure that's gonna deliver on that promise 10 times over? And then when all of those pieces are taken into consideration, then we start looking at price. And, and from that perspective, that could be anything on the low end of 5,000 could be even lower than that.

2 (8m 44s):
There's somebody coming to Mastermind Millions that he's doing a, he's making a killing on thousand a year mastermind, which sounds crazy to me, but he's knocking it outta the, so that whole process, once we, we get the pricing thing done, you can have strong six figures added to the bottom line with a very small number of people that you really move the needle for in a significant manner.

0 (9m 7s):
Brad, what do you wanna add to this?

1 (9m 8s):
To just piggyback on what Jay said, which is absolutely true, this can scale infinitely. I mean the first master has a part of, in 2011 had 1700 members over three tiers. They had the main core mastermind group, which was a hundred people, then they had local chapters which people could join for a lesser price. And they were run by people who were local and wanted to to you know, basically use the content of the mastermind of feeder system and build that out for themselves. And they finally had a membership underneath that. And between those three tiers, 1700 members around the world, they're doing between four and 5 million in revenue per year off of a mastermind. So there's no level that you can't get to with the right structure. Another example, if you don't wanna go to 1700 members, which just wanna really go intimate, is raising the price. There is a mastermind called the hundred M mastermind run by our friends Dan Fleishman and Joel Marion who are actually at that Tony Robbins event you mentioned earlier.

1 (9m 55s):
And they run that mastermind basically at loss. They, they do a hundred K a year for a hundred spots that's 10 million bucks and they spend it all on crazy adventures for these people because it's not about the money of them, it's about the connections and the and experiences

0 (10m 9s):
Fire Nation. I really hope you're understanding the difference and just the variety and just the different tasty you can add to what it is for you. Like for me, I made Fire Nation Elite my own mastermind. You need to make your mastermind, your own mastermind and we have a lot to talk about when it comes from imposter syndrome and so much more when we get back from thanking our sponsors. Ready to dish your subpar podcast listening app and download an interactive app that has every feature you want and need with more great features being added all the time. The app is Podopolo and you can download it free and start listening right now@Podopolo.com. Podopolo gives you access to every podcast at your fingertips with easy, discoverability, audio and video, podcast and every genre and language and instant recommendations.

0 (10m 58s):
So the perfect podcast and live streams find you without you having to lift a finger. My favorite feature Podopolo was interactive. So you can create and share short snippets and discuss episodes with friends and your favorite hosts. Join me on Podopolo where you can interact with me, connect with others, ask questions, and share your thoughts on your favorite podcasts. Visit Podopolo.com download the app for free from either app store. Mention John Lee Dumas my PODOPOLO username when you sign up for an account and start listening now. That's P O D O P O L O.com.

3 (11m 32s):
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0 (12m 2s):
Brad, Jay, we are back. And Jay, I wanna start with you right now because a lot of people have the imposter syndrome, they don't feel like they're ready to start a mastermind. What would you say to someone with that mindset?

2 (12m 16s):
Oh, that's a great question because the honest to goodness truth is this, you may not quite be ready and that's okay, but it doesn't mean that you don't do it. So you know there are, there are six core pillars that we're gonna teach a mastermind to millions live in in Phoenix. The first of which is perfect positioning. And that is this idea that you must be seen as the leader of your tribe. And one of the things that we'll do is give an entire, there's an entire body of work around what it means to actually be seen as the leader of your tribe and to embody leadership of your tribe in a manner that actually makes a significant difference. And all of us have holes, all of us have strengths, all of us have weaknesses and some objective personal development, some objective personal evolution to fill those spots is one of the things that's necessary.

2 (13m 5s):
And Brad and I are big believers. If you're gonna lead a mastermind, you are also always in a mastermind. Mastermind you lead is the thing you're a master at that people see you as a leader in people. It's probably something that you're so good at. You think, oh that's silly thing, but the mastermind you're in is the mastermind that sharpens your edge, that fills your holes, that helps you evolve and step up to this position of leadership where people are like, hell yeah, you're my guy. Hell yeah, you're the person I wanna be associated with. Hell yes, the people that you attract are who I want to be. And when you're in that spot, launching a mastermind is a cakewalk. Nothing to it.

0 (13m 38s):
Brad, what would you add to this?

1 (13m 40s):
I think it's really important to understand that imposter syndrome's a good thing and it's a healthy thing. It means that you're not a sociopath. If you didn't have imposter syndrome, that would probably mean you have something wrong with you. The reality is is that nobody wants to feel like they're taking advantage of anybody and nobody wants to feel like you know that they're not providing value for their services. So it's actually a great thing, it's pointing in the right direction, but don't let it hold you back from the very real fact is that people need community and connection more than ever, right? We have an epidemic of loneliness, we have an epidemic of disconnection in this country and around the world, frankly, that I believe mastermind communities can help solve. And this is a critical piece of solving that is bringing people, especially entrepreneurs together to help each other because we feel so alone.

1 (14m 26s):
Like it's like you're going to wizard school, right? And everybody else's muggles, nobody else understands, right? So you know, imposter syndrome, embrace it. Understand that you may be an unlikely leader and somebody who is exactly the right person to step into the fold. If not you, then who is

2 (14m 46s):
Piece that for most folks, the very reason why you think you shouldn't, the very reason why you think you're unqualified, you're, you went bankrupt once your business isn't doing seven figures yet you, you're, you got divorce or there's some judgment that we hold about ourselves is that generally speaking, if we can own that judgment, learn the lesson and actually build through it, that is the qualification that is actually necessary. And right this very second, there's probably a thousand, 10,000, a hundred thousand people Googling right now looking for support for exactly the path that you have actually mastered. But you've gotta be able to own that difficulty.

2 (15m 26s):
You've gotta be able to own that challenge to actually step up, plant your flag and let tho that tribe assemble around you and with you and through you.

0 (15m 34s):
So a lot of value bombs dropped around masterminds but Brad, what if Fire Nations listening right now and they're like, okay that sounds cool. I feel like maybe I will launch my own mastermind potentially someday for various reasons, but I wanna join a mastermind group first cause that sounds like something that I want, that I need. What would you recommend for them?

1 (15m 56s):
Yeah, so you can do what I've done over the last, God, 12 years now I've joined over 50 masterminds, I've spent well over a million dollars when you count in all the travel and, and just the random stuff that comes along with it and it's changed my life. I wouldn't have the lifestyle that I have today if it wasn't for, for that investment. However, most people don't have that earmarked and it would be quite a burden for them to do that. And there are some masterminds I've joined that have frankly been less effective at achieving my goals than others. So Jay and I got together and we thought about this and we dusted off an idea that we've had I independently years ago to bring it to the fore at Mastermind of Millions, which is the mastermind concierge offer or the mastermind matchmaker.

1 (16m 36s):
And essentially this is like Netflix for masterminds. So we have a quick interview with you, we get to know your values, your outcomes, your goals, what your price point might be. And then we tap into our network and we have a pretty great network of amazing people that run masterminds and we make hands, you know, handcrafted introductions to people who run masterminds with the idea of being you go try it out, you pay your way to get there, you, you get your first mastermind for free and if it's a great fit you go ahead and join. If not, you can keep trying 'em out until you find the right fit and then we don't double dip, right? We just get you in the right one, we get you the best price and move on with your life. So that's one of the services we provide in addition to helping people launch masterminds, we're gonna help you find the right one to join as well.

0 (17m 16s):
Now you have mentioned a couple times throughout this interview that you have an event coming up. Let's end with a bang. Tell us all about this. Tell us why Fire Nation needs to really give some consideration to attending this event if they're digging what you're dropping down.

1 (17m 32s):
I'd love for Jay to share his, cuz he's been doing this for so long, but I just wanna share why this is so important to me because this is where I got my start. So I joined my first mastermind in 2011. It wasn't until 2016 that I was clear that hey this was something that I could do for a living. I could actually help people build mastermind groups and build my own. And the reason that happened is cuz Jay was so graciously invited me to an event called The Gift. He's been the founder of lifespring in Canada for the last 30 years. Owns all that ip. He has this thing called the Gift. I went through that transformational process that led me to Mastermind to millions. And there I am sitting in the room with a hundred fifty, a hundred seventy five people realizing for the first time that this, this tool was everything I was looking for. It was the highest income, highest impact, least amount of time way to get the message out in an intimate way but scale it to the masses.

1 (18m 21s):
And out of that event I went and I actually met Michael who we ended up launching a mastermind in Hong Kong and China to help people source products on AmaXan. And that easily became the most successful thing I had done at that point in my life. We had 52 people come to China in Hong Kong. I didn't have to pay a ton of money to get coach, I got actually paid to go to China and Hong Kong to serve that tribe and support them. I didn't have to be the expert. And I came away with better questions, answered, better partnerships and connections, better notes than I would've had. And I ended up launching a marketing agency off the back of that, which led to be from zero to 75 K a month recurring in just six months. So I've told that story before in other interviews on this show, but that was the, the impetus was this Mastermind in Millions event, which Jay has been running for many years now and now we've decided to partner up on it.

1 (19m 9s):
And I want hand it over to Jay to tell us about the event.

2 (19m 12s):
Ok, well think of it this way. It's three and half days of actual training. The fundamental skills from perfect positioning to personal evolution, to fill your mastermind with ease to and setting commitment to mastering the facilitation skills. Because to, to really lead mastermind over the long haul, you gotta facilitate well and how to utilize the experiential learning model to create compelling content. So there are all of the pieces that you need and in this event, I'm a teacher and I'm a trainer and when you come here, you will leave with your mastermind design, you will have your filtering script nailed and we'll give you the, you know, the experience of testing your positioning, your experience of understanding what a promise really is that compels people, you'll have the capacity to actually take this, you know, fundamental piece and, and were on the way you should be charging more all rest.

2 (20m 10s):
Truth is this, we will teach you instead of how to go and sell and chase people to buy your mastermind, how to reverse the psychology of sales so that you are the gatekeeper of an exclusive, powerful and positive community that they must qualify to get into. And when you actually have that whole framework set, that's where people, you know, we get feedback. I'm by the way attended about six years ago and now is actually on the main stage with us when, when we come back in March and she took one tool, our filtering script went out on lunch and while at the event sold 27,000 thousand hundred dollars worth of masterminds while at the event Shadi Eisler, he went and got three clients on a 30-minute break using that script.

2 (20m 54s):
And that's just one tool of about 30 that you'll leave with that will serve and support you. Number one, position your mastermind, do the marketing that is necessary and build the relationships to launch your mastermind and then maintain over the long haul leading it so that you have this thing called renewals over and over and over again. Cause I dunno if people know this or not, but if you pay attention, all heavy hitters have a mastermind. But the thing must understand is that not all heavy hitters have mastermind that continues renew on its own of them have to just keep filling the funnel. Cause the Mastermind isn't strong enough to keep them. One of the ladies that's gonna be actually there working with us, her name is Robin, she was one of my first clients in terms of helping them run masterminds.

2 (21m 37s):
She's renewing her mastermind group for the ninth year with 80% renewal. So she, she still 80% of the same people that started with her nine years ago so long. And the short of this, I have helped quite literally thousands of people do this. Brad has helped quite literally thousands of people do this. And the reason why you must come is at your core, almost all entrepreneurs are working far too hard, far too. This gives you, it gives you, it gives you relationships, gives you leverage when you get to actually have the experience of freedom serving sporting people that you deeply care about. There's nothing better than that in the entire universe.

0 (22m 14s):
Alright boys, break it down. What is the call to action? Where does Fire Nation go to learn more?

1 (22m 20s):
So if you wanna learn more, you can head on over to Mastermind to millions.live/start. You'll get some free videos. We put together they're little Netflix style bite size chunks that you can run through really quickly. They're between eight and 15 minutes. There's some whiteboard training from Jay and I, you can learn more about the story there and you can get an opportunity to grab some tickets at the lowest price that we have available right now, which is 40% off the cover price. The tickets are just 3 97 and then at the end of the month they go up and if you go vip, which I highly recommend because it's a much better experience, you're gonna get the wine and cheese beforehand, you're gonna get the mastermind, you're gonna get the incredible content and breakout sessions we have for our VIPs.

1 (23m 2s):
So you go on over to Mastermind to Millions Live to grab tickets or mastermindtomillions.live Start in order to learn more and grab your spot in the queue, so to speak. Additionally, we made a small little short link just to make it real easy for people. It's just marbles.link/live. That's marbles.link/live that'll get you there as well.

0 (23m 24s):
Brad, you crushed it Jay concisely. The biggest takeaway that you want Fire Nation to walk away with is what?

2 (23m 33s):
You have an opportunity to scale your contribution, to scale your income, and to scale your freedom simply by organizing a tribe around what you care about most. Let us help you put those pieces together so that you can get this up and running in 23. And my hope for every single one of the people that understands what we're talking about is that you look back on 23 as the year that changed everything, the year that your mastermind launched, the year that this foundational idea transformed your business and your life

0 (24m 8s):
Fire Nation near the average of the five people you spend the most time with. You've been hanging out with BH J and JLD today, so keep up the heat. If you have any direct questions, find this episode on the podcast listening app, Podopolo, post a comment, get the conversation going, EOFire.com and the search bar just type Brad and the show notes page will pop right up. And Brad, one last time, what is that URL for the call to action?

1 (24m 36s):
Yeah, come on down. If you wanna grab tickets and you're ready to go, just go to mastermindtomillions.live. If you wanna learn more about the event, hear more of our story, get some cool free training, go on over to marbles.link/live and you can get into the into the group there and you'll get instant access to a bunch of really great content. We filmed in a live studio up in Calgary, which was 26 degrees below zero. People keep asking me, is that Sharon or Celsius? And I keep saying, does it fricking matter?

0 (25m 3s):
Brad Jay, thank you for sharing your truth, your knowledge, your value with Fire Nation today. For that we salute you and we'll catch you on the flip side.

1 (25m 13s):
Thank you everybody. Thank you JLD, and I'll see you guys in Phoenix in March.

0 (25m 16s):
Hey, Fire Nation, a huge thank you to our sponsors and Brad for sponsoring today's episode and Fire Nation. Over the last decade, I've interviewed more than 3000 of the world's most successful entrepreneurs, and I've created a revolutionary 17 step roadmap to your financial freedom and fulfillment. I put it all into my first traditionally published book, the Common Path to Uncommon Success, personally endorsed by Seth Godin and Gary Vaynerchuk. The Common Path to Uncommon Success is the step-by-step guidance that you need to achieve the lifestyle of your dreams. Visit uncommonsuccessbook.com or your copy and I'll catch you there, or I'll catch you on the flip side. The best podcast listening and discovery app in the world is here and it's called Podopolo.

0 (25m 58s):
Visit Podopolo.com. Download the app, mention John Lee Dumas, my Podopolo username when you sign up for a free account and start listening now. That's P O D O P O L O.com. Marketing Made Simple hosted by Dr. JJ Peterson is brought to you by the HubSpot Podcast Network. The audio destination for business professionals Marketing Made Simple brings you practical tips to make your marketing work. In a recent episode, Amy Porterfield shared her five email marketing secrets for long-term business growth. Listen to Marketing Made Simple wherever you get your podcasts.