It’s not every day you get to learn directly from your mentors in person, face to face.
But in 2020, I made it happen: I got to spend two days with a group of incredible entrepreneurs at Dean Graziosi’s mastermind in Arizona, and I’m excited to share my top lessons with you!
Lessons From my Mastermind with Dean Graziosi
While you might be expecting me to share lessons learned exclusively from Dean himself, one of my biggest takeaways was actually from another member of the mastermind.
That’s why masterminds are so powerful: they bring multiple minds together all working towards a bigger goal. So everyone can learn from the experiences and expertise of others.
With that, here are my lessons from my weekend in Arizona.
1. Dean Graziosi on how to turn what you know into revenue
This first lesson is what I like to refer to as Dean’s “Knowledge Broker Value Bomb”.
All successful entrepreneurs are standing on the shoulders of giants.
Everyone you look up to and admire in the entrepreneurial world had a mentor, whether it be in a one-to-one setting, a group setting, or from afar (think podcasts, books, online courses).
The difference between the masses and those successful entrepreneurs is that the successful entrepreneurs:
- Take the knowledge they gain,
- Mold it to fit their personality, industry, and goals, and
- Package it up to deliver the solution to their ideal clients’ biggest struggles.
Knowledge Brokers are here to stay
What is a Knowledge Broker?
One who shares the knowledge they’ve acquired from another source with others (others being their audience).
You’ve acquired knowledge.
Why not package your knowledge into a solution that fits YOUR personality, YOUR passions, YOUR goals, and deliver it to an audience that is searching for that very solution?
Have you ever had a struggle you’ve created the solution for?
Now why are you hiding that solution from the world?
Go to the nearest mountaintop and shout it at the top of your lungs! If you’re passionate about that topic and know it can help other people, then share it with the world!
Consider it an OBLIGATION.
2. Billy Gene on how to ‘Demo’
You heard it first from Napoleon Hill in 1925, and it rings true all the way to 2020:
“An understandable definition of the mastermind is this: It consists of two or more people who work in perfect harmony for the attainment of a definite purpose.”
As I said in the beginning, not all of my lessons were learned from Dean, but from others in the room. And Billy Gene was another member of the mastermind group.
What stood out to me from what Billy talked about is the power of doing a demo.
The different teaching models
One-to-many is not working NEARLY as well as it used to (think Live Webinars, Evergreen Masterclasses, Facebook Lives).
One-to-one can be very time consuming and bandwidth-heavy for anything but REALLY high level offers (think 10k or more).
What IS working really well right now is one-to-few. (Think 7 – 11 people in a controlled virtual environment, like Zoom.us).
Billy shared that he is having a lot of success getting people to register for a 7 – 11 person paid ‘DEMO’.
During his 60 minute demo, he has each of the attendees introduce themselves to build connection and significance right from that start.
Then, he shows everyone the product in action (a “demo” of whatever he’s selling).
Finally, everyone is given the opportunity to ask live questions and make a buying decision on the spot.
What could YOU do in this ‘DEMO’ environment?
What would YOUR business look like if you could host 1 DEMO a day and close 20 – 60% of the attendees?
3. How do do it right: decrease churn & increase raving fans
My third lesson is around what I see Dean Graziosi’s “on-boarding wizardry”.
I’m BIG on on-boarding because I know how critical that first impression is when you invest in something.
When a sale is made – whether it be a course, service, mastermind, or otherwise – most entrepreneur’s next step is to celebrate and move on to the next prospect.
Focus on your clients, not on new sales
Your newly minted client needs to feel loved, guided, and reassured at the moment of the sale, and over the next 3 – 5 days, that they’ve made the right decision.
Online you can do this with a welcome video on your ‘Thank You’ page, an immediate email that gives them their exact next steps, and by making sure they’re welcomed into a community and introduced to others who are in their shoes asap (like a private Facebook group).
But how do you accomplish this in a live environment?
Dean shared a lot of examples of how you might do this in a live environment. Think an in-person event where you’re up-selling a coaching program or high-level mastermind.
Accomplishing this in a live environment
- Immediately give them a t-shirt. This will make them feel like they are part of a family, a part of your tribe. Plus it’s great branding for you.
- Have them immediately join the private Facebook group and post a hello video with a short bio and their reason for joining, along with what they hope to accomplish (will definitely work in an online environment, too)
- Take a group photo with EVERYONE who joined and post to the private Facebook group.
- Have them immediately schedule their on-boarding call, which will take place within the next 3 – 5 days.
- Hand them a welcome letter (brochure) that clearly maps out what the next (insert your timeframe here, 1 month, 6 months, 1 year) looks like, with specifics of what they will accomplish at each 25% mark of that timeline – plus HOW THEY WILL FEEL by accomplishing the goals laid out (again, this will work in an online environment, too)
- Order a Harry and David’s gift basket so that when they arrive back home, they have a wonderful gift awaiting them, confirming they made the RIGHT decision.
When Dean followed the on-boarding steps above, he shared that he dropped his 3 – 5 day attrition from 20-30% down to under 6%! That’s HUGE!
The Power of a Mastermind
I’ve just shared three pretty massive takeaways, that when consumed and implemented properly could make a massive shift in your business. I know this will be true for me.
And that’s the power of a mastermind.
So if you’re not currently a part of a mastermind, or if you’ve been considering starting your own mastermind, then be sure to check out our guide: how to run a mastermind.