MENTORS AND MASTERMINDS. Welcome to Skill Set 7 Mentors and Masterminds.
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1 MENTORS AND MASTERMINDS Welcome to Skill Set 7 Mentors and Masterminds. In this skill set you will: -Gain inspiration by listening to Amy Applebaum -Get education by hearing stories of mentorship and learn how to get your own mentor or start your own mastermind group -Take action by getting your own mentor or setting up your own mastermind group. Now there is a pretty big difference between a mentor, a mastermind, a coach and a consultant and I want to go over that at the very beginning. Now I know we have the mastermind section of the Academy and there s a video about what it is but I ll go over it really quickly here again. A mastermind group is about four to seven people of your peers, people in the trenches just like you working on their business, learning and growing. Giving current resources, tactics and things that work for them plus they give you support. Now mentor is someone you don t necessarily seek to be your best friend. You want someone that s very high level. You want expert knowledge in where you want to go and that means they probably don t have a lot of time to give but when they do, they re going to give you tremendous value. They ll give you insider knowledge of how to get where you want to go. So in this skill set, we ll get into more detail on who you want for a mentor and how to get them. A coach, on the other hand, is someone who normally you hire. They re there for day-today things. For who you lean on when you re stuck or tired or unmotivated and they push you further and work on your mindset and give you advice. They re more like your partner in making your business grow and a coach would be more a long-term commitment. And just to round this out I want to also explain a consultant. A consultant is an expert in their field and they usually explain to you what work you can do to increase that section of your business. They might want to do the work specifically or maybe they ll explain it to you so that way you can do the work. But they really help with projects and strategies. A consultant is also usually a short-term investment, whatever length of time that project is that you have for them. Now personally, my business has all four. They teach in their own way and they help you in different ways and I benefit from each one individually. See when I asked Amy Applebaum, she s an amazing business coach and you can find her at amyapplebaum.com, why she recommended having both a coach and a mentor, because they seem similar to most people, she said:
2 It s because they provide two entirely different things. Your coach is going to be there with you day to day depending on what level you hire them but they re in the trenches with you. They re helping you on a level to build your business. We all need someone who can help us in the business building on a day-to-day basis. Things like what s the vision and how am I going to build this out and who s my target market and what s the right target. How do I price? What about my fears? All these things, what marketing initiative I should do. I don t understand sales. What s the best way to network? I could go on and an. They re questions that are endless that come up when you re running your business. Your board of mentors though, they re not your coaches. They won t answer those questions. They ll tell you to go fly a kite if you bother them too much because, if you do what I recommend, which is have an incredibly powerful board of mentors, then they won t be that accessible to you. So you are using them for planning and you are using your coach for day-to-day execution as well as planning. They re very different. If you don t have those things in place, you ll feel lost and no book is going to make not feel lost. In fact, in many cases, a book will confuse you even more unless you only pick one book and follow it. Amy has some great advice and so in this skill set we will talk specifically about getting a mentor, a higher level mentor or starting a mastermind group after the Academy. So now I want to tell you a little story. It s actually about how I started gaining my support system. Years ago when I was first starting my business I was really timid and not exactly sure what to do. So I decided I should actually check out some of my competition to see what they re doing and pick up some good tips from them. Maybe they were doing something right that I could gain from. So I looked up the local business coach. He was older and he had sold a million dollar business. He was really prominent in the community and he spoke everywhere. He really knew what he was doing. So I was quite intimidated let me tell you. I sent out a quick to him just asking a few questions and saying I was new to all this and thank you for your help. Shortly after, he ed me back saying that we should actually chat in person and, of course, I had no idea why. I mean technically I was his competition and it was a stretch for me just to even him let alone sit down and talk to him. But I went to his office and chatted and he gave me some ideas on exactly how to position myself. He gave me marketing advice. He was really great and didn t really feel like my competition at all which was wonderful. I was really surprised at how well it went and I had a bunch of new strategies to actually start working on too. So when I went home, it was funny, I had gotten an from him again asking to meet and discuss the possibility of maybe working together. He wasn t exactly sure what it would look like but he complimented me a lot which also helped and he said maybe we could help out each other. This was a start of an amazing relationship. I offered to help him using my technical skills and he offered to teach me everything he knew. I eventually started working as my own coach under his brand a short time later and he gave me invaluable skills, pushed me harder than I ever wanted to be pushed. He was both a coach and a mentor for me. While I branched out and am no longer a part of his firm right now, he s still my coach and has
3 helped me out tremendously on what I m working with now. If I had never sent that , who knows where I would be today. Now a lot of you probably already know, it seems like we know that a mentor could be a key to our success but a lot of the times we don t take the action to do it even though we know it s important. Armando Montelongo from Flip This House said, What I found was so many of my students and people I teach now is that they have this deep belief, like I know I can do it if I just had the right mentor, opportunity, system to be able to do this, but most people don t ever act on that instinct. So why not? Maybe fear like we talked about in the last module but now is the time for that to change. You need people on your team that are way bigger than you so that way you can grow. When Armando talks a little bit further he said, I did exactly what my mentors said, I listened to them. I had four multimillionaire mentors. I was able to go out there and make money because of it. Now the great thing about these mentors is that they re very, very humble men. They stay behind the scenes of their own success and it s funny they look at my success and they think well it s funny and humorous you have a TV show and the things that I have done. In a sense that was the craziness that s on the show but I also feel motivated and inspired by how many people that our company has gone out there and helped. The biggest thing I remember my mentor told me, he said, Armando, everyone things that knowledge is power. Knowledge is not power. Properly applied knowledge is power which means you have to be accurate and have a great education about what you re going to do whether you re going to go out there and be some sort of computer engineer, whether you re going to go out there and be an athlete or go out there and be a real estate investor. The thing you have to do is to take action according to the steps in today s marketplace. So Armando and his mentors both say action. Robert Smith even said, from Worldwide Media, said, Take action because I can teach you everything but if you re scared or you don t do what I tell you, then you re not going to benefit from it. That s the point of this skill set in the Academy. We will go over what you need to do this week and have you take action in the worksheet. You might also be thinking why would a mentor even want to work with me? I haven t done anything yet. I m not big. This comes up. Wait, they re so awesome. I m not really there yet. I mean I know I could do it but why would they work with me. I don t have money to pay them. They might not have the time to even deal with me. All of these thoughts swim in your head. Armando talks about, he says, The reality is most mentors don t want to spend the time with individuals because they re not committed enough. So it s not that they don t want to spend it, it s because they re just the people that are ing them or talking to them aren t committed enough. So what you need to do is bring to the table an amazing amount of energy and commitment into the relationship. You need to carry it along. It s not about them carrying you. You must show your commitment or strength or it will never happen. That means being committed to listening to them when they tell you something. Take action on what they say. No one wants their great advice to fall on deaf ears. They need you to take it and run.
4 Derek Sivers had a great example when he said, Somebody who is a real mentor to me gave me this book by Tony Robbins called Awaken the Giant Within. He said you should read this and so with that kind of heavy recommendation from someone I really admired, I gave it my full attention and dove into it and read it not just once but like five times over the next five years and really ingested it. That s the commitment I m talking about. You want these potential mentors to be inspired by you. Amy Applebaum says, It s all about enrolling people in your vision. If they re not enrolled in your vision, they won t participate. But most people love to help. There s help right in front of us. It could be a friend, a family member. It can be a friend of a friend, a business you know or a business associate. You want to aim high, not aim celebrity high, that s ridiculous. People are like I want to have Oprah as my mentor. Okay, good luck. But you don t need that. You don t need that. That s not it. You need a really successful person that s more behind the scenes so they can give you access and they will give you time. Amy had a really great point. You need to get these people on your side and really inspired by the things that you want to accomplish in life. Now it doesn t have to be an official mentorship. They don t have to call themselves your mentor. You don t have to call them mentor. You don t need to use that word at all. When I asked Derek Sivers on how he sort of qualified his person as a mentor, like did he say, Well I m going to mentor you. How exactly did that work? He said, Oh no, it was my boss at the circus and when you re traveling in a circus it s, you know, you re in a truck traveling the country for five days and you spend thousands of hours together. So it was more that they were just someone I really admired and looked up to. It wasn t any kind of official mentorship. You don t need an official mentorship. You want people that you can ask their advice and they know what they re talking about and they ll tell you what they know. Sometimes even a mentorship turns more, even to a friendship. Derek Sivers actually has quite a few amazing stories and you can listen to the whole thing in his interview but one I want to mention specifically is when he talks about people you admire. He said: There are people you just, you know, you have this real mutual admiration thing. When someone who you really look up to, sort of a role model to you gives you an open channel. They say, Hey anytime you have a question feel free to ask kind of a thing. So I ve had a few people like Seth Godin for example. There was this one great moment where I was a huge fan of his books and at CD Baby we used to get two or three hundred orders a day that we processed. It was kind of like a factory style and it would just get turned out. We had about 50 people working in the warehouse and every now and then I would peek in on the day s orders just to see, you know, the list of everything that was going on or everyone that ordered today, find out how big the orders were or if there were any exceptional orders. There was one back in 2003 or 2004, something like that, I happened to be scanning through the customer list and it said Seth Godin and I was like no way. There must be another Seth Godin. But it said SethGodin@yahoo.com and it was going to some address in New York so I sent him an . I was like Dear Mr. Godin, I m a huge fan of yours and he wrote back saying, Dear Mr. Sivers, I m a huge fan of yours. I love CD Baby and I think it s brilliant. I think it s absolutely amazing what you ve done. And then
5 like his next two or three books he would often use me as an example in his books. So we had a kind of mutual admiration and to this day, even just a few weeks ago, I told him something about what an honor it is to be able to talk to him any time and he said, You know, you ve got it all wrong. It s backwards. It s an honor for me to be able to talk to you anytime. Isn t that amazing? Every now and again you have amazing things like that just happen by chance that aren t any official mentorship but they re just friends. To this day, even Derek Sivers have mentors. Of course, who s better than Seth Godin, right? Brig Hart actually sums this up too by saying, you know, even he needs a mentor. He said, The guys I listen to today make hundreds of millions of dollars a year. Not just in networking and other businesses because that s my next goal. I mean after you make a million or two or twenty million a year, you have to be if you want to be the best golfer you have to play with the best golfers. You want to be a better businessman, you re going to have to be around people that are in the position you want to be in. As I grow spiritually, I m around spiritual mentors that can sow my life so I can continue to progress. It s important for everyone that wants to get better in their life to have a mentor. So how to actually get a mentor. Robert Smith spoke a little bit about the importance of a mentor and how to get one. But first, really listen to how he starts this quote. He said: This is like a cool interview. I mean there s nothing really special about me. I ve just learned how to connect the dots. Now I have mentors who are super, super, super successful but when I didn t have mentors, I had to kind of connect the dots myself. But now I see how the big picture works and see what it is you have to do. So you have to surround yourself with people who know more than you. If you don t know anybody personally who is a millionaire, which a lot of us don t, as my mentor explained to me, most people they don t have a very rich person that they can touch. What I mean by that is that someone they actually know that they can talk to. We always see the results. We see the house, the cars, the boats, we hear about the trips. Maybe some people belong to a club or maybe someone at your church or a distant family member. You hear the stories of people that are rich but you don t know them. You don t know how they got that way. You hear Johnny got rich in the stock market or Susie started a business and got rich but you don t know what she does every day. So now it s easy to find a mentor. So much easier now than it was back in the 1990s because I ll give you two scenarios. One, they might have written a book because usually in the back they ll have their office, their address, their phone number, their , some way to get in contact with them and if you write them an and say, I read your book, it helped me out a lot. I mean that s how I got my very first mentor. That s what I did. I got his address from the back of a book, ed him. Told him how much I learned from that book. He ed me back and he sent me some free tapes. That, of course, lets you know I m dating myself. He sent me cassette tapes. So that was the first one and then I figured out, okay, all I have to do if they ve written books or have websites or
6 they do seminars or newsletter on their website, get on their list. Kind of be in their world so to speak. And that s what I call being mentored from afar because a lot of these mentors, these authors, they all haven t responded to me. There s some good chances Trump will never call you back or you. So what you can do is find people that are successful in your own backyard and do the same thing. Read your local newspaper or magazine or business journal. They re always highlighting someone who is successful in business. You do the same thing. You write to them. You call them after hours if you re kind of scared and you don t actually want to talk to them. You know, call when the business is closed to get the voic . Tell them your name, that you read their story and you admire who they are and that s how you can start. If you do that with 10, 15 people a month, you may only have one or two who actually reach back out to you but it s very, very likely you ve met a successful person that you didn t know. Now you re in their world so to speak and you can connect with them and learn from them and all it took was some time, a little time out of your day. So there s really no excuses. You can make excuses or you can make money but you can t do both. I want to highlight that too. You can make excuses or you can make money, but you can t make both. That s some great advice to really get started on finding a mentor. Mentors are everywhere. When I asked Derek Sivers if he had any advice for people that haven t created a multi-million dollar business to get the attention of Seth Godin, or someone maybe who has a smaller business and they re really looking for mentors, how do you find an open channel to talk to someone? He said: Definitely just ask. You d be surprise how effective a three or four sentence can be. It s so effective and respectful that it s almost like if you send a real quick pointed three sentence , who couldn t answer it? Unless some really has their gates up, like they don t read their own , but I think anyone who reads their own and I ve sent s to my favorite authors and they have no idea who I am and I don t include my website and they ve never heard of CD Baby or anything like that and I ve been amazed at how well a three sentence can get a reply. So just once sentence is a qualification. Question number two or sentence number two is a direct question like I have one question. Do you feel the business should split into multiple parts since it gets over 50 employees or do you feel that was just in your case? Any reply appreciated. Thank you. Something like that. If you send somebody a quick direct question, not trying to dump the weight on your life on them or anything, asking them a quick question you can get a reply and sometimes you can go back and forth a few times and maybe they got your URL in your signature and they re trying to answer the questions so they find out who s asking. They go to your URL and maybe there s something interesting there or you ve shared your philosophies or your company and what you re doing. That may lead to more or it may just be someone who answers your questions when you ask. I ve had it both ways. I mean, well, I get a couple hundred s a day and I reply to them all. Often I have no idea who
7 I m ing. It s like I m not replying to them because they re somebody, I m just replying to them because they ed me. So I do my best to give a helpful answer. Not based on any qualification of who they are but just because they asked. I ve been really surprised at how reachable people are when you just send a nice simple . On the other hand though, if you send one of those five-page long s then don t be surprised if you never get a reply. It s just too hard to reply. Send a three or four sentence and you d be surprised. We ll actually take action on Derek s advice in the worksheet specifically. Amos Winbush, III from CyberSynch, he suggests going online to find a mentor because first we also have to find this mentor that we want to see. He said, It s so easy these days with LinkedIn, Facebook and Twitter to reach out to people. I have one of the most great friendships with Jeffrey Hayzlett from Twitter who is Chief Marketing Officer of Kodak and that s how we started talking. It s through Jeff Hayzlett that my company started talking to Kodak and it was on Twitter so it s definitely possible. Do you hear Amos? It s so easy. Did you hear Derek? It s so easy. Did you hear Robert Smith? It s so easy. It s not hard. All you need to do is take action and do it. And in the worksheet you ll be taking action on getting your own mentor. So now let s talk a little about a mastermind group. I know in this course you ll be having a mastermind group and you might be able to stay with them for longer term but if you wanted to start your own mastermind group, I wanted to give you some ideas on who you can find, how you can get them into your group. So I actually have a similar story on how I found my mastermind group. I had heard numerous times that your income can be calculated by the average of your five closest friends. So how much do your five closest friends make? Average them out and see how close it is. While I had heard that so many times before I finally decided to do the math and that really hurt. I had a lot of great friends, don t get me wrong, but wealth was really not their strong point and since I wanted to be a millionaire, I realized that I needed to start creating relationships and friendships that would really push me. That s when I started to decide to create a mastermind group. Now I had no idea how to find high quality people. Again, I m from a small town in Maine and no offense but there isn t a lot of people my age let alone people my age making a great income. So I went online and I posted on Steve Pavlina s forum. I posted on Entrepreneur Magazine forum. I wrote sort of all the cool things I ve done in my life, right, makes great money while I was in the corporate world, worked with a viral video group that created the Diet Coke and Mentos videos a few years ago, trying to pick out any of the huge accomplishments that I had done even though they were kind of slim back then. Then I held myself to a higher standard. I wanted to increase the level of the friendships I had. One person by the name of David Huber ed me directly and he said he might be interested and it was funny because he wrote a book called The Rich Switch which detailed how to start a mastermind group. Well he sent me the book and it had amazing information on what to do. A few of the tips that the book gave me is he said, Find people that are massively better and farther ahead than you. Set it up with rules and guidelines to have a high level of commitment from everyone and that you may need to have a trial and error to get the right people in the group because it really needs to be a good fit. So armed with that knowledge and
8 I ed amazing people I didn t even know. David Huber was the start of the first person in the mastermind group. So I crafted an going out to each person individually on who I might not know but I really, really wanted to get them in. It included different things like what a mastermind group was, some of the guidelines that we had and I listed the bios of the amazing people in the group. So, at first, it was just me and David. Then I d add another person and include their amazing bio. That s how we first started. It started without all the people. I think we had three or four on our very first call but it was really interesting to get all these people on one call at one time and know that I had created it from scratch. Now it has changed a bit over the years. We ve got new people, amazing people. We ve had different recommendations in the format and how things work. But it was a changing, a turning point in my business. That s why I highly recommend it to everyone. I m going to reemphasize this quote from Todd Tresidder because I just love it so much. It s actually in the mastermind video too. He said, A mastermind is an example of going pro where what you do is you build a structure that literally pulls your business forward. It keeps you from getting sidelined. It keeps you from getting distracted. It keeps you from making mistakes because you re building a support system, the environment and you re overcoming resistance that you ll experience as you head up against your comfort level. You know, as we grow, we run into comfort zone thresholds. We ve all had that experience. It s a natural human thing. You have a comfort zone of success that you re accustomed to and as you break through those thresholds, you need mechanisms to pull you through and you need structures that pull you through it. So that s the help of a mastermind group. By now you should have already started with your mastermind group in the Academy but if you haven t, go click on the mastermind section in the Academy, watch the video and go ahead and submit your application to start your group. If you don t want a group through the Academy, I will give you step by steps in the worksheet that we re going to go over next but I highly recommend getting a group through the Academy. It will be a lot easier for you. So let s pull up the Mentor and Mastermind worksheet now. At the top, you ll see that quote again from Robert Smith. You can make excuses or you can make money but you can't do both. So decide on whether or not you want a mentor or a mastermind group first and then do that section. For now, you probably won't deal with a mastermind group but I wanted to put that in there just in case for the future. MENTOR So the first thing you need to do is list ten people in your extended network that you already know would make a good mentor. So think if acquaintances, old friends, friends of friends, maybe people on LinkedIn or Facebook that you re sort of extended connected to and write a list of ten. If you can't get ten, that s fine but try to get as many as you can. Next, list ten people you admire that have done exactly what you want to do and might seem a little bit out of reach. Book authors that are more small than Seth Godin, right? Business owners, search LinkedIn and Facebook and your industry s magazines or local newspapers to find people that are really successful that you might want to work with. Write at least ten of those down. That should be pretty easy to find.
9 The next step is to choose one person on that list and craft a simple short to that person. It shouldn t take that long and I have given you a great outline of exactly how to do it. Just like Derek Sivers said, actually. So, hello so and so and put a qualifying sentence like I m a huge fan of your books or you know my friend Joe and he said you might have experience with this, etc. Next is a simple direct question and a sentence or two that you couldn t find out online easily. It has got to be relevant to them. If you could just Google it, that s not good. You don t want to be wasting these people s time, you want to be asking them direct and relevant questions that only they can answer. Then at the end, write an end greeting restating how thankful you are. So, any reply appreciated. Thank you in advance. Just be really grateful for the time that they spent reading your . Then put your name and just in case put in your website address or any social media links because sometimes I know when I get s from people that have questions, I like to take a look and check them out and see so that way I can give them a better answer. So this week, send out crafted s to at least five people on your list. Put this, this is your action item. Do not move on to the next section of the Academy until you do that. A mentor is so important I do not want you to skip this. MASTERMIND Next let s move on to the mastermind group. So, if you were to start a mastermind group from scratch, you would want to do the exact same thing by listing ten people in your extended network or peers that you don t know yet but would be great for your mastermind group. Then choose one of those people on the list and craft a simple short to them. This one is going to be a little bit longer of an than a three or four sentence one but it should be a peer of yours so it s not someone way above you. So do the same thing by creating a qualifying sentence. Example, I love your site. I found you via my friend Joe on LinkedIn and then tell them about the group you are putting together. And say that you think that they would be a great addition to the group. I m putting together a new mastermind group of really likeminded business owners to help each other grow our businesses and I think you would be a great fit for the group. Tell them that you handpicked them to be in this group. You can also include a bit about a mastermind group. Maybe mention that you have a document with a guideline. Say that it doesn t cost any money. You are not trying to sell them anything or maybe even include the document on guidelines. Then you want to list the bios of you and anybody that have already said that they are going to be in mastermind group by listing achievements or successes. That way they can see what you ve done and what value you might be able to provide them. Then write an end greeting explaining how great it would be to keep in touch anyway. I understand if you can't fit this into your packed schedule but I wanted to offer it to you since you have a great business. Let me know if you need anything. And this week I want you to send out crafted s to at least five people on your list, if you re going to being setting up a mastermind group.
10 A couple final notes - make sure to promptly follow up with each response so if these are big people make sure you are ing them back very quickly. It might take them awhile to get back to you but make sure you are not waiting a week or two weeks to follow up. Also make a note in your calendar to at least three or four mentors or possible mastermind participants each week until you have that support group that you need. It s only an . It s really simple and you never know what can come from it. So best of luck. In this skill set, you gained inspiration by listening to Amy Applebaum s interview. Gained education by hearing stories of mentorship from others and learning how to get your own mentor and you took some action by actually taking the steps to get your own mentor or mastermind group. Thank you so much for listening today and I hope you have an amazing week.
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