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What Goes on in a First-Rate Mastermind Meeting? Six Takeaways & Insights

mastermind-brainLast week, Lyndsey and I spent two days in a Mastermind group that met in Los Angeles. Was it easy to carve out the time to get there? Was it easy to give up two precious days that could have been spent doing “billable” work . . . two valuable days that could have had me home with my family . . . two days that would have been more contentedly spent in the comfort of my home office? No, no, and no!

But, was it worth every ounce of the time, treasure, and mental tenacity it took to be there? YES!

Here’s the setting for the Mastermind: picture a room of approximately 60 people, entrepreneurs from a wide range of industries, from as far away as the U.K. Most of us have built mid- to high six-figure businesses, with several in the room managing seven- and eight-figure businesses. Regardless of gross or net income, we are all there for one reason: we know the value of setting aside time to stretch our minds, share and learn from one another, and be inspired to not only dream bigger but act more diligently to make those dreams come true.

So, in the spirit of sharing and learning, here are just a few of the takeaways from our Mastermind:

  • I learned that the reason most of us are in business is not to make money or serve others (although those two things do happen, which is a good thing!), the real reason we are in business is to have freedom. And, every decision we make as an entrepreneur will either contribute to, or contaminate, that freedom!
  • In one exercise during the Mastermind, everyone in the room was asked to come up with 3 ways to add an additional $20,000 to their monthly income. After one colleague at our table said, “Are you kidding? I want to think of a way to add that to my WEEKLY income,” I learned that what we get used to becomes our norm. (With that, I encourage you to think of three realistic ways to add a lot more to your monthly income!)
  • I learned that if you’re struggling to get clients, often the most effective thing to do is simply ask past clients what they want for products/services and what they would be willing to pay for it!
  • I was reminded that even when you land a big contract or have a significant financial win, you never, ever, ever stop prospecting and filling your pipeline.
  • I heard about a cool new app called Telepromt+ that you can use to prompt you when you’re giving speeches or recording videos … way kewl!
  • Susan Whitcomb & Julie Carrier

    Susan Whitcomb & Julie Carrier

    I was reminded of the idea that you will become the average of the five people you spend most of your time with. And that made me remember why I was attending this Mastermind. I want to spend my time with people who are setting, and achieving, big goals, and making big differences in the world! (Here’s a picture of me with one of my colleagues, Julie Marie Carrier, a former Miss Virginia, Emmy-Nominee Success Coach for Teens, and Award-Winning Speaker)
  • I’ll stop here, but please know that there were dozens more ideas that we came away with and will take action on immediately!

In closing, I was at a social event this weekend where someone asked me if a tough economy was helpful or hurtful for my business. I used to think that the economy dictated my success, but I’m singing a different tune these days.

To some degree, a difficult economy can make almost anyone’s business more challenging, but the reality is this: if I . . .

1) decide to be successful,

2) quantify what that success looks like, and then

3) take strategic action toward that success daily and diligently, the economy is secondary to my success.

This reminds me of Henry Ford’s advice (paraphrased) that “if you think you can do a thing, or you think you can’t, you’re right.” So join me in my own personal challenge to think, “I CAN!”


Looking to overcome limiting beliefs in your business? Call me today (877-659-3769) for practical, action-oriented entrepreneurial coaching!


One Response to “What Goes on in a First-Rate Mastermind Meeting? Six Takeaways & Insights”

  1. Beverly Harvey says:

    Thanks for sharing. It’s interesting that you say we’re in business to have freedom…especially since many business owners spend far more time working in and on their business than they did working at a company.


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