hey what's up Huntington here from the
insight project and in this video my
friend Nick and I talked about
mastermind groups so mastermind groups
have been instrumental in my growth
online and being an entrepreneur I
started almost within like two months of
learning about online business to
forming a mastermind group and I've been
in several over the years for me it's
really been instrumental so I give Nick
a few tips on forming mastermind groups
and sort of how to structure meetings so
people get stuff like meaningful things
this discussion now hey what's up Doug
Huntington here and I'm with my friend
Nick Nick what's up today how's it going
Doug doing pretty well today we're gonna
talk about mastermind groups and for me
mastermind groups have been instrumental
in helping me grow as a business person
and just learning about niche sites and
just in general so background is I
formed a mastermind group as soon as I
got started with online marketing so
this was back in the smart passive
income niche site project or niche site
challenge - and there was a forum so I
pulled together about six people and got
moving and I had literally no experience
but there were a few people that were
ahead of me and that's sort of like was
the start for me with masterminds after
that I've been in you know probably five
or six others and again they've been
instrumental and like just helping me
out now Nick you emailed me a couple
weeks ago about mastermind groups and
kind of tell me where you're at and kind
of what you're looking for I guess as
far as mastermind groups go yeah sure so
actually through your Facebook group
through the the private five figure
niche site course Facebook group that
you get access to when you when you get
the course there was someone in there
that was proposed if anyone is looking
to form a small group we could all get
together and and talk about our niche
sites and so I joined that and there's
four of us right now and it's really
great we all bounce ideas off of each
other
and you know we all share our success
and everyone's really positive and and I
think that the group meshes really well
together right now and so but what I
reached out to you about is that I just
wanted to see like if everyone's kind of
started from the same spot or if
everyone's in the same spot how do you
get more out of the group and in your
experience where all of your groups when
you form them was everyone in the same
spot or did you have some people who are
maybe above you or had more experience
and they were passing down their
knowledge or was everyone kind of
learning together and then that's how
the group grew and so I'd love to hear
hear your take on that good question so
in the first group that I was in there
was kind of a wide range so you could
imagine the smart passive income like
project that whole like forum brought in
a lot of different people and you know I
put out a call and it ended up a call
being like in the forum I posted got
people's information and I actually like
talk to each one of them individually so
we did end up with a range of people and
I remember there was a guy in the group
who I thought it was like so like beyond
me he was making 3 bucks a day and I
thought wow this guy's figured it out
and you know I shouldn't even be talking
to him like he's doing really well
and I remember telling my wife that
after the meeting so of course fast
forward like a few months I was doing
much better than that so the point is
there were some people with like zero
experience and actually like never
launched their site and then there were
a few other people that had two or three
sites and kind of knew what was going on
so as far as like getting more out of
the group well and one thing to add
everyone no matter what their experience
or success level is they can bring some
expertise to the table mine as you you
know I constantly talk about the project
management stuff and the organizational
systems and that sort of thing because
it's a set of skills that people want to
have but often they haven't been trained
on it and I have credentials and
experience that I
lean on so I'm lucky but everyone has
something like that you have a unique
set of skills everyone has that so you
just have to like make sure you're
tapping into that number one make sure
everyone if they're an expert in I'm
struggling to come up with something but
let's say they they worked in
restaurants their whole life they have
really good customer service and
hospitality understanding which when it
comes down to it is close to sales and
they probably have a unique take on
ideas that you may not have so everyone
has that the second part is the
structure of your meetings and how often
you meet one of the big advantages of
mastermind groups is the accountability
portion and you know just saying hey I'm
gonna accomplish these one or two things
over the next two weeks or whatever your
meeting interval is saying you're gonna
do that gives you a you know reason to
focus you know you're gonna have to go
and report back to the group and say I
accomplished it or I didn't so I have
another one as well but do you guys and
gals meet on a regular basis and use it
as an accountability group we'll see
that's a great point because actually we
don't right now it's just a very it's
not it's very informal chat group
essentially there is no meeting and so
that's that's a great point that you
bring up and did you ever have to go
from something similar to that let's say
maybe you guys were just all emailing
back and forth and then did someone come
along and say hey let's make this a
formal thing or how would you go about
making it more formal and and maybe
cementing that in is having like monthly
or bimonthly or bi-weekly meetings etc
cool so I think basically the groups
that I've been in I have been the hub
right so I'm the facilitator another
skill in the project management arena is
like just running meetings have a loose
agenda the agendas are super easy I mean
basically there's many different formats
but usually like one big win from the
last you know week or two and then one
person maybe has like a hot seat where
they are
talking for 20 minutes on a specific
problem everyone gives their input and
then at the end of the meeting you can
say like your one or two goals for the
next period so the thing is I've never
been in a group where you just have a
chat there's always a meeting component
i've always at least gotten at that part
started maybe you know we trade off or
someone else types up the agenda which
is usually just you know a template
right so you just make a new copy you
can use whatever tool you want you know
Evernote Google Docs whatever it doesn't
matter the point is the meeting is the
most important so what what you have
right now is a chat room right it's like
the mastermind group that people say
they have a Facebook mastermind group
and really it's just a big like Facebook
group with a bunch of noise so the
mastermind group you do have to meet and
I would say you know starting off it may
be great to meet like once a week for
about a month so you can get to know
each other there's a lot of trust
involved like you're bringing your
biggest problems like you end up talking
about personal stuff because everything
overlaps right if you're you know for me
like I'm talking business stuff but
there's a big component because you know
I have a wife and like we have other
things and priorities going on
so it's not all business all the time
there's again there's a lot of trust so
meeting often early is probably a good
idea and then bi-weekly depending on how
much like your group is doing and how
much time people can dedicate like
bi-weekly gives people enough time to do
some meaningful work a lot of times if
you meet every week you'll find that
okay like once you've laid the
groundwork and everyone knows each other
well every two weeks is pretty good now
I know every net like around the
holidays or even in the summer for
vacations there will be periods where
you know oh we need to cancel the
meeting it's it's not convenient for you
know half the group will cancel the
meeting will pick it up and it gives
people time to breathe take a little
break and all that stuff so I said a lot
their meetings are required what
follow-ups do you have on that yeah no
that's that
all makes sense because yeah without the
meeting you're you know you put a lot of
accountability on on yourself and others
and then also you get that that leverage
so if you show up to the meeting and you
haven't done anything that's a great
another you're holding yourself
accountable to others as well and yeah
exactly sometimes the chat can can be a
little noisy and we won't hear from
someone for a while and have to catch up
on you know 200 plus messages and at
that point it can be very discouraging
and you're not really getting everyone's
input or you're not getting the value
out of everyone and I think that's also
a great point about you know I know I
know them by name and and their little
Facebook picture but how much do I
really know them and how much do I know
about everyone's skills individual
skills in the group you know most of
them I have no idea what they do as for
their living if they have you know
family like you said so I think those
meetings could really help to to kind of
suss out the the details of everyone's
life and and and what they bring to the
table yeah cool cool and one you know
final thing that I'll mention is it's
interesting because most of the groups
that I've been in I have been like like
the worst person like I have the least
accomplishments most of the time because
this like if you can come in as the hub
like you send out some invitations you
can reach out to bloggers right like Rob
and I have an interview coming out in
the next few weeks here Rob reached out
to me and we're in a mastermind group we
have been for you know almost three plus
years and of course business partners
good friends and all that stuff he just
reached out to me and with networking he
didn't come with an ask but networking
and it just worked out magically right
so the point is if you are the hub
you're pulling people together people
hate scheduling meetings people hate
coming up with the agendas they eat like
the easyadmin stuff that I'm fine with
doing right I got used to it over years
at the corporate job but if you do that
part you can you know hit above your
weight class and work with people that
are one two steps ahead of you just
because you're pulling it together
so there are other stories that I could
think of examples like I think the key
one that I recall and maybe I'll do a
little bit more analysis on this but
Jaime tardy from eventual millionaire I
think she has a different last name
contacted Pat Flynn to form a mastermind
group and you know she didn't have the
credentials that she has now and all the
accomplishments but through persistence
and pulling other people together she
was able to get Pat Flynn in the group
obviously good person to have in your
network and to talk to on like a weekly
or bi-weekly basis so all right cool
I think we've given people some stuff to
chew on thanks Nick for hopping on if
people want to like ask more questions
about mastermind groups ask in the
comments like it's a topic that I love I
have some friends in town here in
Bozeman that are big on the mastermind
idea as well yeah I think mastermind
groups are great if you're not in a
mastermind group you should get in one
all right thanks Nick appreciate it all
right thanks Doug all right thanks Nick
for spending time with me today if you
have questions about mastermind groups
or if you're thinking you want to form a
mastermind group
leave comments below you could probably
connect with people in one fashion or
another if they are watching the video
and they spent the time to leave a
comment about forming a mastermind group
those are probably the kind of people
you want to form a group with so anyway
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thanks
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