Masterminds helped me build a business where I earn more than $10,000 per month, but it didn’t happen overnight. When I started my first blog in July 2006, I had no idea it would turn into a six-figure career. Even as I progressed from a small hobby to a side hustle, I had a hard time seeing past a dream of quitting my job to work for myself online. It turned out I had everything I needed to succeed right in front of me, it just took a little help seeing the opportunity to make it big online.
My mastermind groups played a key role in this success. Follow along to learn how mastermind groups helped me build a six-figure online business and how they can help you reach your best success.
My introduction to masterminds
I first learned about mastermind groups from the financial blogging community. When I started my site Personal Profitability way back in 2008, there were far fewer blog focused resources than there are today. Like most bloggers at the time, I was figuring out a lot as I went along. That meant everything from website development to monetization were solo endeavors.
One of the better decisions I’ve made in my career is to not work in isolation. I put that theory into action by joining and participating in communities like the Yakezie (a financial blogging network) and attending FinCon, a major conference for financial bloggers and the media.
At the very first FinCon in 2011, I was sitting in the back of the room chatting with a couple of guys named Jeff and Shane. Jeff said that he was excited at the idea of mastermind groups, a topic discussed at the conference, and wanted to start one. We all said yes and a multi-year mastermind was born. Since then, masterminds helped me build a growing and thriving business.
The right group members are vital
Jeff and Shane were not just two random guys off the street. They were fellow personal finance bloggers with similar goals to my own. Further, we were all around the same level and experience, so we were able to give each other objective advice and thoughts based on our own successes.
Over the years, we had a couple of members rotate through the mastermind. Those included friends PT, Martin, and Jeffrey, all successful members of the personal finance blogging community with unique and useful insights into running an online business.
These friends and colleagues helped me look into my business eyes wide open. They pointed out obvious successes and failures that I was blinded to because I was so close and deep in my own business. Sometimes it takes some 3rd parties to show us our own biases about what we are working on. The right mastermind helps with that and much more.
With support and guidance from this group, my online income went from paying my bar tabs to paying my mortgage. It was amazing growth but I wasn’t done yet.
You get out what you put in
Mastermind groups sometimes have a natural lifecycle and wind down as participant needs change. Eventually, that means a mastermind group will decide it’s time to shut down and go separate ways. That doesn’t mean the group failed, it could mean the group succeeded and it is simply time to move on.
That last happened to me about three years ago, right around the time I shifted from full-time employment to online self-employment. My new mastermind (not new anymore, but it was at the time) is made up entirely of Dad entrepreneurs. This group helps me not only in my business but in my personal and parenting lives as well.
This group is more of a time commitment than my old one. Where I used to have weekly emails and monthly video calls, this mastermind has weekly video calls and daily chats in Slack. This gives me the best experience for my current, online-focused business.
I also find that the more I engage with the group, the more value I get. The more open and honest I am, the better the feedback. And when new members come and go, it is usually because they didn’t commit to putting in a 100% effort.
With masterminds, you can’t pick and choose how to participate. You are in or you are not. And if you are in and do it right, you’ll start seeing dividends come back to your life quickly. The more you participate and engage, the more you get in return.
Masterminds helped me reach long-term success
I’ve been involved in a mastermind group nearly all of the 10+ years of my online income journey, and I’m getting ready to add a second to round out my experience. It is pretty amazing that such a small change in habits can help lead to such great change in your business. Masterminds helped me so much. They will certainly do the same for you!
Are you looking to take your business, career, side hustle, relationships, athletics, or other goals to the next level? You need a mastermind. No ifs, ands, or buts about it. Get started with your mastermind to reach your best success today.