WOULD YOU BELIEVE ME IF I TOLD YOU THAT I HAVE INVESTED HUNDREDS OF THOUSANDS OF DOLLARS INTO MASTERMINDS FOR MYSELF, OVER THE LAST SEVERAL YEARS, AND IT’S BEEN SO WORTH IT?
Every single time I participate in one, there’s a return on investment and that’s money I’ve seen come back tenfold over the years. I sat for years at the same financial plateau, feeling like I was stuck in the same patterns. I finally traded in good for great the year I experienced my very first mastermind: I over doubled my profit that year, I gained countless relationships that have opened many new doors for years to come and I challenged myself to grow in ways that I never really thought possible.
After having been in many masterminds over several years and gaining knowledge from many of them, I also witnessed a lot of the shortcomings of how they were being run, how the spaces were created and nurtured and what improvements would literally make all the difference.
So, in today’s episode we’re getting into how masterminds are being done wrong, what ways they could massively improve with some tweaks, what to look out for if you’re on the hunt for one, and why it could be that tipping point for you going forward in your business.
And I’m sharing a lot about how we’re doing it differently!
IN THIS EPISODE, WE COVER:
[2:24] Keeping Up with The Joneses
Most people join a mastermind with excitement to invest back into both their business and themselves. They’re excited for the potential of networking and meeting new people, being lifted up and having someone to help them through to their next level. But what often happens is, they get into this program and they run into the reality of what’s in front of them. And I’ve noticed five ways that masterminds are being done wrong, and they’ve infiltrated a lot of them.
The first problem that I noticed is, although people come in wanting to grow, ultimately they get into the group and they see all these other people who are sharing their wins and it creates this culture of keeping up with the Joneses, which I literally cannot stand. People don’t want to get vulnerable because they feel like they have something to prove. As much as we want growth, we also want to come into this space and be seen as the expert. But, this “keeping up with the Joneses” feel is a toxicity within the community that limits the potential for each member.
[9:31] Not Giving Freely
Another problem that I noticed is people try to one-up each other. And when you are in a group where there is that initial piece of “keeping up with the Joneses” and then the secondary piece of everyone trying to one-up each other, you’ll find that instead of actually trying to offer value, people are trying to prove themselves. They’re not coming from a place of servant leadership or really having that teaching spirit where they want to give freely. They feel if they give away information, then they are giving another person a leg up over them. They feel they are giving their prized information that’s going to allow others to grow beyond them.
So, you really want to explore communities where people truly are open, where they’re not competing, and where they’re not fighting for the same spot.
[12:42] Competition Instead of Collaboration
Something else that can stem from the lack of willingness to share openly and to be vulnerable, is this sense of competition within the group. When you join a mastermind, the goal is to come out with strategy, opportunity, possibility and clarity. But what often happens is, because everybody is comparing and the group has a competitive vibe, you come out more scattered, more stressed, more spread thin and with less profitability because you’re now investing time, money and energy into all the different things that you feel like you have to do to keep up with everybody else in the group.
So, when you come into a mastermind, you have to ensure that you have a leader in someone who’s going to cultivate in you your own personal vision, your own personalized experience, based on what is right for you. A leader who can see in you your next level of leadership and pull that out of you without the rest of the group becoming a distraction to your vision.
[15:45] No Alignment
It is so critical that you make sure that any groups, mentors, leaders, communities that you engage with are in alignment with your values, with who you’re called to be and with what you believe is right.
I’m not talking about finding a space where everybody agrees with you, I’m talking about a space that’s going to elevate you and encourage you to lean in deeper to who you’re called to be and the values that you hold dear, and not try and pull you out of that. So many of these groups don’t have a full understanding of what leadership really is, from both the leaders themselves and the members, there’s a lot of short-sighted thinking: strategy only, let’s talk about your next launch, let’s make more money instead of talking about building wealth, there’s no long-term vision.
So, if you’re not leaning into and finding leaders and groups that actually embody true leadership, you’re going to get a lot of this feast or famine growth process.
[26:33] Luminary Leadership Incubator
A big part of my drive behind creating the Luminary Leadership Company were these things that I’ve experienced, these things I’ve witnessed, these things I’ve willingly taken part in or invested in and put aside the things that mattered to me to try and get ahead. That’s why I’ve become so passionate now in serving the people I work with and reminding everyone that there is a better way, but it’s going to come with this willingness to do it differently and that’s what we’re doing.
And so part of how we plan to do it differently is through our latest program of The Luminary Leadership Incubator. It’s an invite-only program, serving my peers and I thought maybe there would be a few people listening to this show that are just really craving this. So, this is what we’re kicking things off with and it is time-sensitive which is why I decided to bring it up here.
Taking all of the above into consideration, we felt like there had to be a safe place for successful entrepreneurs to come in and be positioned as a leader in their space. So instead of everyone being in the same industry, in the same category of business, we wanted to hand select people who are coming from different industries, with different strengths, different reasons for being a part of this community and really position them in leadership. But at the same time they are challenged in leadership. We push back, because we want to elevate each and every member into their next level, no excuses. We want to help them see what they feel called to and the vision that they claim they put forward, and we want to hold them accountable to how they get there.
I’m very intuitive in this process. I took the sales team off of this project because I want to be on every single Zoom call with every potential person that’s either applying to this or that we’re hand selecting and inviting to this because I need everybody coming into this space to know that this is being cultivated for growth and transformation, not for money. We saved five spaces for our listeners who are potentially at that correct level, so if you are interested you can go to https://luminaryleadershipco.com/incubator/ and apply as soon as possible because these five spots will go really fast.
So if this speaks to you or makes you wonder if this is something for you, go ahead and book a call!
RESOURCES FROM THIS EPISODE: