Masterminds: Everything You Need to Know – In Just 7 Minutes with Brad Hart

Check out episode
  • Discover exactly what a Mastermind is, how they differ from a group coaching program, and what they mean for your future
  • Learn how to start your own successful mastermind, without having to struggle using up all your personal time
  • Find out how to have a profitable mastermind that facilitate a healthy, thriving mastermind community where everyone wins

Resources/Links:

Summary
Are you spending most of your time solving other people’s problems but not getting enough income?

Are you stuck in the income roller coaster? Do you want to be a mastermind in your own expertise?

Do you want to know how to leverage your knowledge and build your own mastermind?

Brad Hart helps people build mastermind groups to increase their income and impact exponentially.

In this episode, Brad shares his ideas and concepts on how to be your own mastermind and how to get out of the income roller coaster. He also shares techniques on how you can scale up your business without using up all your personal time.

Check out these episode highlights:

  • 01:04 – Brad’s ideal client: “So my ideal clients are coaches, consultants, entrepreneurs, experts, authors, speakers and trainers, people who have the expertise or want to serve others with expertise, even if they’re not the expert.”
  • 01:25 – Problem Brad helps solve: “So we solve the problem of the income roller coaster, right, a lot of coaches and consultants they sell a lot of their time. They market and sell and then they have to deliver and then they’re left at square one.”
  • 02:25 – Typical symptoms that clients do before reaching out to Brad: “So I would say anybody that is already in the services industry, they’re either doing some sort of writing books or courses or you know, those are all great things. Coaching, consulting, they’re all wonderful ways to serve people, but they don’t necessarily scale as well as a mastermind.”
  • 03:43 – Common mistakes that people make before they find Brad’s solution: “What I’m recognizing as I get older, I’ve been in this particular business six years and since the third business I’ve built in different industries, I’m realizing like, you know, the same mistakes play themselves out over and over again, you know. You want to limit the risk.”
  • 04:49 – Brad’s Valuable Free Action (VFA): “So as far as the process, we do every mastermind similarly, we build every foundation with the same thing. You can do this right away. You don’t need to buy anything or do anything additional. It’s ‘Who are you? What do you do in 30 seconds?’”
  • 06:12 – Brad’s Valuable Free Resource (VFR): Check out Brad’s Website: 8minutemastermind.com
  • 07:11 – Q: What is my favorite black and white animal? A: It’s a penguin. But I also have a whale over here. I got Snoopy up in the corner. I’ve got penguins. I’ve got polar bears. I got all kinds of things going on. Yes, polar bears are black and white. They have black skin, white fur.

Tweetable Takeaways from this Episode:

“ Sell it before you build it so that you're not stuck six months later with something nobody wanted to buy in the first place. ” -Brad Hart Click To Tweet

Transcript
(Note, this was transcribed using a transcription software and may not reflect the exact words used in the podcast)

Tom Poland 00:09
Hello everyone and another very warm welcome to yet another edition of Marketing The Invisible. My name is Tom Poland joined today by Brad Hart. Brad, a very warm welcome, sir. Good day from down under in here Australia. Where are you hanging out?

Brad Hart 00:22
I’m down in Southern California in San Diego. Thanks so much for having me, Tom. Thanks, everybody, for listening.

Tom Poland 00:26
San Diego. I like San Diego! I’ve been there a number of times. I’m particularly in love with Encinitas on the way down the coast there. But let’s get off geography and my favorite spots to lie on the beach in California. For those who don’t know Brad, he’s a really interesting guy. He’s got a fascinating concept and in broad terms, he helps entrepreneurs and business owners to build and scale wildly successful masterminds, which is in itself is a fascinating concept. So, the subject today in line with masterminds is “Masterminds: Everything You Need to Know – in Just Seven Minutes”, of course. So, Brad, our time starts now. Question number one, sir, who is your ideal client?

Brad Hart 01:04
So, my ideal clients are coaches, consultants, entrepreneurs, experts, authors, speakers and trainers, people who have the expertise or want to serve others with expertise, even if they’re not the expert. As long as they’re committed to solving the problems of others and want to bring in experts to do that, then that works as well.

Tom Poland 01:19
Perfect. Thank you, sir. Six and a half minutes left, you’re overachieving already. What’s the problem you solve?

Brad Hart 01:25
So, we solve the problem of the income roller coaster, right, a lot of coaches and consultants they sell a lot of their time. They market and sell and then they have to deliver and then they’re left at square one. Instead, we want to help them build a profitable mastermind that only takes five to 10 hours a month of ongoing delivery, and they can scale and get more of a hybrid feel to their business. So, we help them do all that as well. Yeah.

Tom Poland 01:46
Interesting. So, in big picture terms, that putting together a group of people who are all progressively minded. They want to grow. They’re wanting to scale and putting together on a regular basis whether that’s virtual because of COVID or unreal, but the putting together. And so, they’ve got scalable value delivery, and helping more people and making a lot more money in a lot less time. Sounds like Plan A to me. So, let’s talk about this person who thinks this is a pretty good idea. How would they know it’s a pretty good idea? This is a question number three, five and a half minutes left, what’s going on in their life? What are the typical symptoms they’re experiencing that would have them realize that they need to talk to you or find out more about your stuff?

Brad Hart 02:25
That’s a great question. So, I would say anybody that is already in the services industry, they’re either doing some sort of writing books or courses or you know, those are all great things. Coaching, consulting, they’re all wonderful ways to serve people, but they don’t necessarily scale as well as a mastermind. They don’t necessarily- they’re difficult to start, you know, marketing team or you need some sort of chops to really get one off the ground. Whereas a mastermind group, it’s kind of like a Tesla Model in reverse, right. So Tesla didn’t start out by trying to build a model three, they started with a really big toy for rich people, and then they had a little bit of money and then they built the P85D, and they built out the model three is like their third big push and now they’re getting into a bunch of other things. But if they had just gone straight for the mass market, they might not have succeeded. So similar to that I don’t recommend people worry about eBooks and memberships and, courses right away. I think they should start with a mastermind, because it’s low or no inventory, low or no expertise, and doesn’t really take a lot of your time to scale and to build, and you can get started right away.

Tom Poland 03:19
Right, and you just have to invest all that time writing books, or programs and courses, etc, which may be difficult to sell anyway. So, we’ve probably mentioned one of the common mistakes, but this is question four, and we’ve got four and a half minutes left. Perhaps one of the common mistakes is they go to that other stuff before they start a mastermind, but what would you say are the other common mistakes that these smart people are making before they get into your stuff?

Brad Hart 03:43
Yeah, and I’ve been on both sides of this equation. I’ve written multiple books. I’ve done courses so like I can really speak from experiences here. I’ve had big launches. I’ve had evergreen if all these different things happen in my business. And what I’m recognizing as I get older, I’ve been in this particular business six years and since the third business I’ve built in different industries, I’m realizing like, you know, the same mistakes play themselves out over and over again, you know. You want to limit the risk. You want to stay safe somehow. You want to build this air of invincibility, your expertise that doesn’t really need to be there because people don’t care about whether you’re the expert or not. They care about whether you can solve their problem or not. And that’s the most important thing. If you focused on problems and serving people, the vehicle becomes that much less important. Although I believe masterminds are the best vehicle, I’m not like, sold the job to build mastermind. I think it’s really important to get clear on the offer and the foundational pieces and really test that and sell it before you build it so that you’re not, you know, stuck six months later with something nobody wanted to buy in the first place.

Tom Poland 04:37
Okay, so that might lead us quite nicely to question five, which is one valuable free action. So, what’s a step forward that someone could take that’s going to help them get the sort of clarity they need, three minutes left?

Brad Hart 04:49
Absolutely. So as far as the process, we do every mastermind similarly, we build every foundation with the same thing. You can do this right away. You don’t need to buy anything or do anything additional. It’s “Who are you? What do you do in 30 seconds?” Who are- you know, what are you grateful for celebrating? Start off in a celebratory mood for 30 seconds, then describe your challenge to the group. And that can be about 60 seconds. And then you ask clarifying questions from the group so that we can make sure that we get to the heart of what the actual problem is before we try to go solve it. And then when the clarity is achieved, whatever time left, we have, you know, the mastermind is our formula. So, whatever is left of the eight minutes you can use for solutions. But it’s really important that the whole group is clear on what your actual problem is, that they can connect the resources, opportunities, people, and systems to that problem and provided a solution, whether it’s there or later afterward, and they follow up. And that’s what’s so powerful about this model is you can build out from there and add all the bells and whistles, the expert interviews, everything else you want to add. But that’s the powerful framework that really gets the job done as quickly as possible. When you see in the group setting. It works so well. You’ll never want to go back to one I want to get.

Tom Poland 05:50
So, what we’re talking about here, as I understand it, is how do you articulate your value proposition for a mastermind group in eight minutes or less? And I think you’ve got another resource, which is question number six, again leads very nicely to the next question. Just under two minutes left, one valuable free resource that’s going to help people to develop this framework even better.

Brad Hart 06:12
Absolutely. So, we have a multitude of free resources, training, workshops, etc. What we do is we tell people to go to 8minutemastermind.com. That’s 8minutemastermind.com and they can get our 101 questions for mastermind facilitators. They can get 50 recordings with me facilitating masterminds virtually and in person, and then you can also get the cheat sheet. So, go ahead and grab that as well. That’s all free and then if you want, we’ll also give you a deal on our book, you just pay shipping and we’ll send it right to your door. And then for your Australian listeners, if you don’t want to wait for shipping, you can also go to 8minutemastermind.com/PDF and get the PDF version for just seven bucks.

Tom Poland 06:46
So, number 8minutemastermind.com. Have a look at that. Have a look at the /free, /PDF. I haven’t explored there. That is an extraordinarily rich resource of completely free stuff. Just under a minute left. Thank you very much for that bread. That’s an extraordinary offer. Question number seven, what’s the one question I should have asked you but didn’t?

Brad Hart 07:11
What is my favorite black and white animal?

Tom Poland 07:13
What is your favorite one?

Brad Hart 07:15
It’s a penguin. But I also have a whale over here. I got Snoopy up in the corner. I’ve got penguins. I’ve got polar bears. I got all kinds of things going on. Yes, polar bears are black and white. They have black skin, white fur.

Tom Poland 07:29
My dog’s loving this. He’s a Border Collie, black and white Border Collie.

Brad Hart 07:32
Nice. Love it!

Tom Poland 07:32
Brad Hart, thanks so much for your time and for providing so much value. So, folks, it’s 8minutemastermind.com. Go there. Grab the bag of goodies. Thanks, Brad.

Brad Hart 07:42
Thank you, Tom.

Tom Poland: 8:05
Thanks for checking out our Marketing The Invisible podcast. If you like what we’re doing here please head over to iTunes to subscribe, rate us, and leave us a review. It’s very much appreciated. And if you want to generate five fresh leads in just five hours then check out www.fivehourchallenge.com.

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