Momentum Podcast: 533

Mastermind Meltdown

by Alex Charfen
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Introduction

My life has been changed by being in the right coaching programs, getting advice from the right people and being able to sit down and mastermind or exchange ideas with people who have helped me move my business forward. And without those things, there's no way I would be where I am today. 

However, there's been a major shift in the market and there's been tons of masterminds introduced that don't have a clear outcome, don't have a clear avatar, and don't really have clarity as to who they are serving and those types of masterminds, well, they're dangerous.

Episode Description

I’ve seen a mastermind meltdown in the market today. There’s a lot of masterminds out there that don’t have a clear avatar, outcome, or foundation. I’ve watched so many people in the marketplace spend a ton of money and effort only to go backward. Don’t let this be you. Be careful about the mastermind you select. Unless the mastermind is qualified, you’re at risk and subject to a negative influence. Choose a mastermind where people are curated to be in the room, not just there because they cut a check.  

Here are some of the filters I use before I consider speaking, supporting, or attending any event. 1- Who is the avatar in the room? 2- What are the stated outcomes? 3- What is the belief process of the mastermind? Try these before you decide to join another mastermind or go to an event. 

If you’re looking at joining a mastermind, get clear on what you need and where you are as an entrepreneur. When you join the right mastermind at the right time, your entire business will change. Find a group that’s going to support you in improving your business and your life.

Full Audio Transcript

Alex Charfen: My life has been changed by being in the right coaching programs, getting advice from the right people and being able to sit down and mastermind or exchange ideas with people who have helped me move my business forward. And without those things, there's no way I would be where I am today. However, there's been a major shift in the market and there's been tons of masterminds introduced that don't have a clear outcome, don't have a clear avatar, and don't really have clarity as to who they are serving and those types of masterminds, well, they're dangerous.

I'm Alex Charfen and this is the Momentum Podcast made for empire builders, game changers, trailblazers, shot takers, record breakers, world makers and creators of all kinds, those among us who can't turn it off and don't know why anyone would want to. We challenge complacency, destroy apathy, and we are obsessed with creating momentum so we can roll over bureaucracy and make our greatest contribution.

Sure, we pay attention to their rules, but only so that we can bend them, break them, then rewrite them around our own will. We don't accept our destiny, we define it. We don't understand defeat because you only lose if you stop and we don't know how. While the rest of the world strives for average and clings desperately to the status quo, we are the minority, the few who are willing to hallucinate there could be a better future and instead of just daydreaming of what could be, we endure the vulnerability and exposure it takes to make it real. We are the evolutionary hunters, clearly the most important people in the world because entrepreneurs are the only source of consistent, positive human evolution and we always will be.

I am seeing a mastermind meltdown in the market today and here's what I mean by this. There are a lot of people in the market that are good at marketing that have created masterminds, that have loose definitions of what the outcomes are and have gotten people to buy in and get involved and as a result, there's a lot of masterminds out there where there isn't a clear avatar. There's not a clear avatar that's being drawn into the room. There isn't a clear outcome of what you get from going to the mastermind and there isn't really a clear curriculum or foundation. And as a result, we're watching our clients and entrepreneurs in the market spend money putting a ton of effort and go nowhere. In fact, in a lot of cases it's spend money, put in a ton of effort and actually go backwards.

I have this saying about masterminds. Just because somebody doesn't know an answer, doesn't mean they won't give you one. So you have to be really careful about the mastermind you attend because you want to make sure that you are getting good information coming back. So here's what I want you to understand about masterminds. You know, unless the mastermind is qualified, you are at risk. Unless the mastermind's qualified, you are at risk. And here's what I mean by that. When you look at a mastermind, you should really understand what that mastermind is going to give you, what results are you going to get out of it? When you look at a coaching program, what is the outcome you're going to get? I'll share one of mine with you.

So I'm in Taki Moore's black belt program and Taki coaches, about three or 400 coaches around the world. He helps people create leverage programs. He helps people understand how to attract the right clients, how to have the right dialogues. There's a tremendous amount of information that Taki shares in that group. And there's 300 or 400 coaches from around the world that are also sharing information. And because I coach and consult and they coach and consult, it's a qualified mastermind for me. So every time I attend I get a ton of information and a ton of momentum from it. And so I want you to have that same experience when going to a mastermind. So here's why this is important. So number one, I just said it, just because somebody doesn't know an answer doesn't mean they won't give you one. In fact, I've seen people in masterminds who have absolutely no idea what they're talking... You know what? I'll share with you one of the best examples that I've ever seen.

I was actually the moderator for a panel at a mastermind, and I knew the five people on the panel and a bunch of questions were asked, and the panel was giving the answers and I knew over and over again that people on the panel were answering questions that they really weren't qualified to answer, but they just felt like they had to give an answer to every question. Well, the epitome of that situation was when somebody in the audience asked a question about entrepreneurs and relationships, and one of the women on the panel answered the question, and I know her, and I knew her and at the time she was going through a really messy divorce and some massive relationship challenges, didn't share any of that. Just talked about how to have a successful relationship. I remember standing there and thinking like, "This is so incongruent. What are we doing here?".

And that's what happens at so many masterminds. So you want to have a qualified mastermind where people had been curated and brought into the room. Just because they cut a check doesn't mean, in most cases isn't good enough, especially if you're growing as an entrepreneur. Another thing to be really careful about at masterminds, especially if you actually have a business and you're moving something forward, is that people at the beginning of the Billionaire Code, the seekers who really haven't started doing anything or the starters who are under $100 000, they're just kind of dabbling, getting into it. They are the most likely to confidently give information or to confidently give advice and the reason they're so confident in their advice is they haven't really done anything yet. So they don't understand the liability of what they're saying. They don't understand the gravity of the fact that they're telling somebody something that they read on Facebook or something that they think is right, but they don't really understand how challenging it is when you give someone advice that isn't qualified, isn't from personal experience, that you haven't really been through. So when you go to the wrong mastermind, you get surrounded by a bunch of people who haven't been there and done that. It becomes doubly dangerous.

And then the last thing that's challenging is if you're in the wrong mastermind, you have to know you are subject to the same emotional contagion the rest of us are. And if you're in a room of the uninitiated, if you're in a room of people with less experience than you, if you're in a room of people who aren't where you are, you will actually adopt the emotional contagion of the uninitiated. You will be in a room where people who don't really understand what's going on are going to get excited about stuff and hyped up about stuff. And you will feel those feelings they're feeling. You will be in the same experience they're feeling and they can influence you.

So you have to be careful about what you attend. You have to be careful about what you go out to and what you allow yourself to buy into. So here's some of the filters I use before I consider even attending an event. In fact, these are the filters I use before I consider speaking at an event before I consider attending an event for free before I consider supporting an event and like the highest level is before I consider paying for and being a member of an event. And I do that in some cases and a lot of other cases I'm invited free, but if the event doesn't pass these filters, I won't go.

So the first one is who is the avatar? If you have an event, a mastermind, tell me who you're inviting. Who is the person that's coming and when somebody says entrepreneurs growing businesses, I know that's not an event I want to be anywhere near. That's way too vague, that entrepreneurs growing businesses, that's 29 million people in the United States and so I want to know what the avatar is. I want to know exactly who this organization is helping. I want it like as an example, Russell Brunson's Inner Circle. I know exactly what I get from it. It is four high level marketers who are doing business online, we're going to share strategies and insights and tactics that we use on high level marketing online and I know exactly what's going to come out of it and I know that the other people in the room are doing high level marketing online so I know who the avatar is. I understand what I'm getting.

The second thing you need to know before you join a mastermind or a coaching program is what is the outcome? In Russell Brunson's Inner Circle it's to get to $1 million for the two comma club and then to get to $10 million so you get to two comma club X and those are stated goals. Those are stated outcomes. Same with Taki Moore's mastermind. What is the outcome of Taki's? It is to get you from being a coach that's making money to being a million dollar coach, to being a $3 million coach and then building a team and being an even more significant coach and having a bigger revenue if that's what you want. When you look at Archangel, Giovanni's Masters group, I'm in Giovanni's council where I'm an advisor to the organization, but in his Master's group, it's for million dollar businesses to come in and find the resources they need and the contacts they need and the relationships they need to get to 10 million. And so there's stated outcomes in the masterminds I'm involved in.

And then the last one is what is the curriculum? What's the foundation? What is the belief process of the mastermind? I've been in masterminds where there's an exercise on personal development, that there's an exercise on your relationship, there's an exercise on finance. Then there's another exercise on personal development and it's the bell to bell all over the place, guardrail to guardrail. It doesn't make sense. I don't really understand what the outcomes are and what we're driving to, and so I want to know what is the outcome of the mastermind?

A good example, out of my masterminds is the Inner Circle with Russell Brunson. Everyone in that group has read Dotcom Secrets and Expert Secrets. We all understand Russell's terminology. We know what he means when he says a squeeze page or a perfect webinar or a limited time challenge or any of the things that we do online, and so there's a curriculum, there's a language, there's a proprietary language, there's a foundation for the mastermind. It's not just a bunch of people getting together and sharing random knowledge.

Because here's what I want you to know about joining a group like this. For me, it's been life changing, like 100% absolutely. Some of the most significant outcomes I've had in my business have been from joining the right coaching group, from joining the right mastermind, from having the right coach. When I joined Russell and Taki in July of 2017, I can't give either one of them exclusive credit, but they both get some because Katie and I had a business, it really wasn't doing what we wanted it to do. We were selling very little in the business we wanted to be in. And in the last 27 or 28 months, we've gone from being a tiny business that barely existed in what we wanted to do, to now we're approaching a 3 million and some months we're over a $3 million run rate and we expect to go far beyond that. We have well over $2 million in recurring revenue now, that is game changing. That was absolutely life changing.

But I did the research, I knew the masterminds I was looking at, I understood what the avatar was, where the outcomes were, and where the curriculum came from and that's why it was successful for me. So if you're looking at masterminds, if you're looking at what you're going to do, get clear on what you need, get clear on where you are as an entrepreneur. Go to billionairecode.com look at the Billionaire Code Decoded book. Identify where you are as an entrepreneur. Look at the things that you need and find the mastermind, the coaching group, the solution that gives you exactly those things.

And if you're over $300 000 and you're feeling the pain of needing to build a team, build an infrastructure, get help so you don't feel like you're doing it all yourself and you can stop that little voice in your head that says, "Hey, maybe I should go back to doing it all myself." Come to us, go to billionaire code.Com, answer a few questions from my team and set up a call with us. Because when you join the right mastermind at the right time for exactly what you need, your entire business will change. When you join a mastermind that shares things that you don't need, it can be confusing, frustrating. It can cause you to lose momentum and stand in place.

So don't melt down in a mastermind. Find a group that's going to help you create momentum, change your business and change your life. And if you want some more information on what we do in our coaching group and how our clients mastermind together, go to billionairecode.com download the Billionaire Code Decoded. It'll show you exactly what you need if you're looking at going out and getting an education and you can set up a call with a member of my team and see how we can help you out as well. Billionairecode.com.

Thank You For Listening!

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With gratitude,

Alex

  • Be careful about the mastermind you select. Unless the mastermind is qualified, you’re at risk and subject to a negative influence.
  • Just because somebody doesn't know an answer, doesn't mean they won't give you one. So you have to be really careful about the mastermind you attend because you want to make sure that you are getting good information coming back.
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