How to get moving with a mastermind group [PODCAST]

Marketing podcast, PreneurCast, is for entrepreneurs, by entrepreneurs. Each week, author and marketer Pete Williams and digital media producer Dom Goucher discuss entrepreneurship, business, internet marketing and productivity.

In this shorter episode (Dom is on vacation), Pete recaps some of his free resources and unveils the7LeversCalculator.com, created by Lee Turner. He also announces a mastermind group especially to get people moving with the 7 Levers of Business.

To apply for the mastermind group, email support [at] preneurgroup [dot] com with the subject “7 Levers Mastermind.”

Pete talks about free resources that you can apply on your business and on how to use the 7 Levers Calculator

 

Transcript:
[peekaboo name=”bar” onshow=”Hide it.” onhide=”Read it now.”]

[peekaboo_content name=”bar”]

Episode 024:
The One Without Dom

Pete Williams:    Hey gang, Pete here. Let me get straight into this week’s episode. I’ve only got a few minutes and this way, you can take what I’m about to share with you and implement it right away in your business. Firstly, Dom’s away this week. So I want to take this opportunity to talk about him behind his back a little, and also remind you about a few different things. Firstly, I want to remind you about Noise Reduction. Dom and I have spoken about this on a couple of episodes in various spots so far in PreneurCast.

What Noise Reduction is, is it’s a weekly email that I send out to my list just helping reduce all the noise that’s out there on the web. With Twitter and Facebook and all that sort of stuff, there’s so much noise and so much to consume. What I’ve done is I’ve put together a weekly email for my subscribers with the Top 5 or 6 things that I think are really important that popped up online this week. It could be a book that I’ve read that I think is worth reading; it could be a documentary that has some good lessons in it; or it could be a new online application, or tool, or even article, or video worth consuming that might help you grow your business.

Noise Reduction is something I’m very, very proud of; I try and do it every week. It’s available for subscription via RSS; you can check out the blog and subscribe to the RSS feed and consume it in your Google Reader account or something like that. You can also check out the back catalogue, so to speak, of various Noise Reduction items I’ve shared, and also you can subscribe to the email list over at noise.re/duction. So I really encourage you to do that. It’s a weekly email; takes all of about 30 seconds to consume.

You have a headline and a brief description of what the article or link’s about, and you can just pick out what you think is worthy of your time and attention. I really encourage you to check out Noise Reduction. The second thing I want to remind you all about is my book. When I signed the publishing deal with Wiley for my first book, How to Turn Your Million-Dollar Idea Into a Reality, I was able to get in the contract a clause that got me the rights back to the book, which I’ve been able to actually enact and have the rights back for the book now.

Not that long ago I recorded an audio version of the entire book, or had an audio version recorded, which I’ve made available completely for free over at preneurmarketing.com. So if you check out the blog preneurmarketing.com, you can go there, you can sign up and download an audio version of the book as well. It covers a whole range of things and was really well-received, not only by readers but other marketing greats like Yanik Silver, Brian Tracy, and a whole bunch of other people who wrote some amazing feedback. Richard Koch, who wrote The 80/20 Principle, wrote some amazing reviews and testimonials which I was really, really proud of.

That book’s available for you guys completely free as well. The book’s done so much for me now I just want to give it away for free, so you can check that out at preneurmarketing.com. Thirdly, I’ve got something really, really, really exciting to share with you: the 7 Levers Calculator. We put the call-out a few episodes back after the amazing response we got to The 7 Levers episode for someone, one of our listeners, to actually put together some applications or some websites or some tools people could use to actually play with the 7 Levers and actually work on it in your business.

Lee Turner, over @leeturner on Twitter, put together 7leverscalculator.com. And if you go there, you can put in all your details, you can plug in your opt-in rates, your traffic levels, your profitability, your margins, your conversion rates – all that sort of stuff, and play with those numbers there. It can spit out what your current profits should be in your business, and it also shows you that if you just increase each one of those levers by only 10% – not saying double your business, not saying triple each one of these, just saying increase by just 10%, what the bottom line difference would be to your business.

So big thanks to Lee for that; it’s an awesome, awesome tool and I’m really proud that one of our listeners, as part of our community, was able to give back to the community as well by creating this 7leverscalculator.com. Make sure you go and check that out as well, and also send Lee, @leeturner, a tweet to say thanks as well. That’s really, really cool. Speaking of the whole this whole 7 Levers thing, I’ve had a bit of an idea, and here’s what I’m thinking and what I want to share with you. As I mentioned, if you’ve been playing along at home and you’ve been enjoying the PreneurCast podcast for a while, you’d be aware of the two episodes that have stood out from the pack.

And those two episodes have been, obviously, the 7 Levers episode – the amount of feedback we’ve had for that is just phenomenal, and also the Master of the Mind episode. Out of all the PreneurCasts that Dom and I have recorded so far, these two have got the biggest response when it comes to tweets and emails with people telling us how much they’ve learned and what they’ve actually gotten by implementing these strategies that Dom and I shared, which makes us so, so proud and very, very happy.

So I thought I’d run an idea past you all, and I would really love your feedback on this as well. What if we put together these two powerful concepts: the power of a structured mastermind group, full of like-minded, goal-oriented entrepreneurs like we all are; and mix that with the power of the 7 Levers and what that can bring your business when implemented into your business over, let’s say, a seven-week period. What I’m thinking is we create a small mastermind group of maybe six or seven people from the PreneurCast community – listeners like yourself, myself and Dom; now, Dom doesn’t know this part yet.

He’s not here, so this is where I’m talking behind his back, and I’m sure he’ll be on board. But if we meet each week for around 90 minutes to work on each other’s business – every week over a seven-week period, we’ll delve deep into each one of these 7 Levers and we’ll mastermind using the structured processes that we spoke about in the Master of the Mind episode of how we can implement each of these in everyone’s business. So we’ll cover things like increasing the traffic to your business, increasing the opt-in rate you’re currently getting in your business.

We’ll talk about different strategies for skyrocketing your sales team’s conversion rates. We’ll also spend an entire week on ways to increase your average sales value, talk about ways to make your customers buy more items per sale, and we’ll even cover some really cool and easily implementable ideas and ways to increase the number of times your customers buy from you each year. And I’m sure there’ll be a ton more stuff which will result in your profits increasing. As we’ve spoken about many times, the beauty of the 7 Levers, and as you know, is that we only need to increase each one of these elements by just 10%, and it will result in the profits of your business almost doubling.

Just a 10% increase of each of the elements almost doubles the business profits. Let me say that again for you. If you haven’t already got it from listening to the 7 Levers episode, here is what it will do for you: if you just increase each of the 7 Levers by just 10%, the profits you’ll be able to take from your business will almost double. What this means is in just seven weeks, by just increasing each of these 7 Levers by just 10%, you’ll be taking home a bunch more cash each and every week. This is what’s happened so far from the people who’ve taken the podcast, listened to that, and implemented it.

The tweets and emails we received have proven that, and it’s really blown my mind and made me so proud, and really reinforces why Dom and I spend the time to actually invest and do this podcast for you guys. What I’m thinking is this is going to be more than just a typical business development course. Normally when you buy a course, you have to invest in it, read it, and you have to actually go off and implement it on your own. But what I’m thinking is we’re going to do this together; so every week, what we could do is we can work on your business together to make sure you take the right action, implement it the right way, to ensure what we cover is quickly and effectively happening in your business.

Now, there are three major factors that I think make this important for you and your business right now, and here’s what I’m thinking. Firstly, with the economy in its current state – we all know the doom and gloom you hear about the economy, it’s really vital for your business whether you’re an online business, a service-based business, or a bricks-and-mortar retail store, it’s vital to make sure you’re getting the most out of what you’ve already got, and that’s what the seven levers are all about. It’s about maximizing what you’re currently doing in your business and getting just that extra 10% from each of these 7 Levers, which will result in the profits of your business almost doubling.

So mix that with the fact that the world is getting smaller; we all know about this, which is making it so much easier for your competition to reach your clients and steal them right out from underneath your nose. What you need to have is a proven system you can go to, rely on, and implement in your business. Take that, with the power of all the amazing online technology these days like GoToMeeting, where we can conduct this effortlessly, this mastermind group every week, to make sure you not only get the lessons delivered directly to you no matter where you are in the world, but we can easily communicate with the entire group during our mastermind calls.

So we’re going to do this online together; and no matter where you are in the world, it can apply to you now because of what’s actually taking place with things like GoToMeeting and Dropbox. If you’re interested in this sort of idea and want to be involved, here’s what you need to do: just fire off an email right now to support [at] preneurgroup [dot] com with the subject line ‘7 Levers Mastermind.’ That’s an email to support [at] preneurgroup [dot] com. Now, as I said, we’re only going to have a handful of people in this mastermind group, and we’re going to fill it on a first-come, first-served basis. I think that’s probably going to be the fairest way to do it.

Now, there’s going to be an investment for this; but I can guarantee you, it will not be anywhere near the $5,000 I usually charge as a minimum for personal coaching. I’ve got clients who pay me more than that; that’s my normal minimum charge. It will be the first mastermind-style group I’ve ever done as a coaching-group style thing. I’ve participated, as I’ve said, in many, many mastermind groups; and it’s a mastermind group that got me my first book deal, it got me introduced to the team at Ernst & Young, which resulted in me being the Southern Region Finalist in the Global Entrepreneur of the Year awards, it’s got me a whole bunch of other stuff that I know will work just as well in your business.

So I won’t be charging anywhere near what we charge for the one-on-one type stuff; but I also know that once this works, I won’t charge anywhere near as low as I will for the very first mastermind group I put together. So if you want to work not only with me but with Dom and a handful of other proactive entrepreneurs, just shoot an email right now to support [at] preneurgroup [dot] com with the subject line ‘7 Levers Mastermind,’ and we’ll be in touch. Make sure you put your contact details and stuff in the body of the email, and any questions you might have or information about yourself.

If you can, do it now. There’s no obligation on any level. The email does not condone you being charged or saying you have to be in; it just helps me communicate with the people who are interested in this about this, rather than bombarding the podcast feed with all the information. It basically says, you put your hand up and you’re interested. But we will fill the spots on a first-come, first-served basis.

So whoever wants to actually take up and join this, we’re going to make sure that the people who emailed us first get the first choice. Emailing will get you to the head of the pack. I look forward to working with those of you who want to implement the 7 Levers in your business. And if it’s not right for you right now, no harm, no foul; Dom and I will catch you next week for another PreneurCast episode. I will speak to you then with Dom about some more ways to grow your business. I’ll catch you next week on another PreneurCast episode.

[/peekaboo_content]

Links:
http://noise.re/duction – Pete’s weekly email, cutting through the noise and giving you the top posts, videos and tools of the week.
http://www.preneurmarketing.com – Visit Pete’s site and sign up to receive a free copy
http://www.7LeversCalculator.com – Online tool to help you see the effect of improving your figures for each of the 7 Levers of Business. Created by Preneurcast listener Lee Turner (@leeturner).

Win Stuff!
We are now regularly receiving copies of books from the authors we feature (and other goodies) to give away to PreneurCast listeners.
To enter our current competition, just visit: http://www.preneurmarketing.com/win.
Keep checking back for the latest competition and prizes!

If you like what we’re doing, please leave us a review on or a comment below.