How to Boost Your Business Growth with Mastermind Groups

Feeling stuck in your business journey? Imagine having a circle of like-minded entrepreneurs who not only get your struggles but provide fresh perspectives and accountability to propel your growth. Discover the transformative power of mastermind groups as we explore how this collaborative environment can help you set and achieve goals faster. Drawing from my personal experience, I'll share what a mastermind is, how it works, and why it can be a game-changer for your business.


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Chapters

• 0:00 Leveraging Masterminds for Business Growth
• 4:16 Maximizing Masterminds for Business Growth
• 13:59 Supportive Space for Business Growth

Transcript

Speaker 1: 0:44

Running an online business whether it's an e-commerce store, a service-based business or a coaching program can sometimes feel really isolating and lonely. You're making decisions on your own, pushing through challenges and really trying to figure out the best path forward, and sometimes you only have your own perspective. But what if I told you there's a way to get to support and accountability with fresh ideas that you really need to make your business go to the next level? And that's where masterminds come in. I've actually been a part of one this past year and it has really accelerated some of my business goals and my business growth, and so today we're going to be talking about what a mastermind is, how it works and why it can be a game changer for your business. So let's dive in. Welcome to the e-commerce made easy podcast. I'm your host, keri Saunders. When we started this business, all I had was a couch, a laptop and a nine month old my main goal To help others. Now, with over 20 years in the e-commerce building industry and even more than that in web development, I have seen a lot. I love breaking down the hard tech into easily understandable bits to help others be successful in their online business, whether you're a seasoned e-commerce veteran or just starting out, you've come to the right place, so sit back, relax and let's dive into the world of e-commerce together.

Speaker 1: 2:04

Welcome back to the E-Commerce Made Easy podcast. Today, we are focusing on the concept of masterminds, how they work, why they're so effective and how they can help grow your business faster than doing it all by yourself. If you've ever wondered how entrepreneurs seem to scale their business quickly, one of the secrets might just be that they're part of a mastermind group. So we're gonna break down and explore how masterminds can make a massive impact on your business, because I know it has made a huge impact on my business the past year, and so this can even apply. You know, I have a team of seven too, so, even though I have people on my team and I'm not a solopreneur, having a mastermind really kind of can bring in some other great perspectives, so we're going to be discussing that as well. So, first off, what is a mastermind really kind of can bring in some other great perspectives, so we're going to be discussing that as well.

Speaker 1: 2:52

So, first off, what is a mastermind? In case you're not familiar, in case we're not quite on the same page for definition, it's a group of like-minded individuals who come together regularly to share ideas and offer support and provide accountability for each other and help solve problems collectively. So they're all in there to help each other is the whole goal, and you need to find a group that you're cohesive with and that you resonate with, that you like the people in it, et cetera. So it doesn't matter how smart they are, if you're not resonating with them, it's not going to be quite as effective. So it's a space where everyone can draw from each other's experiences, offer advice and brainstorm new solutions. And the nice thing about masterminds is sometimes you'll find some of your ideal customers in the masterminds and they can give you some insight that you may not get otherwise. If you're in, maybe, a group that's specific to you, maybe if you're a coach, maybe if you're in a coaching mastermind, you might need to be in a more general mastermind to get some people who might be your target audience too, in it, which is what I found is very helpful in the one that I'm in, and masterminds are a powerful way to tap into collective knowledge and resources of a small, dedicated group that's there to help each other. I feel like finding the right mastermind is a huge key to really getting a lot out of it and getting great success from it.

Speaker 1: 4:16

For e-commerce businesses, masterminds can help you brainstorm marketing ideas, improve product offerings and streamline operations, and for those of you out there who are service providers or coaches, they can help provide a fresh perspective on client acquisition, pricing and service delivery, and I kind of challenge you if you can find the right mastermind group that might have a mix of both. Maybe you are a traditional e-commerce provider. It might be a good idea if you have one that also has the coaches or service providers in it too. It just kind of gives you a fresh perspective on the world. It's kind of hard to say those words together, and so the key about masterminds is they're not just about networking. They're really about real collaboration and collaborative growth. If you're interested in the one that I've been in the past year or so, make sure to send me a text message. You can do that right here on the podcast and I'll be sure to get back with you. Or you can find me on social media and any of our links that we provide on the e-commerce mean easy podcastcom website and just drop me a message and I will let you know some more details about the one I'm in, because it's a really great one and I can help you maybe figure out if one of the ones you're looking at isn't right for you.

Speaker 1: 5:31

Okay, so let's talk about the benefits and why we want to be in a mastermind. So for number one, accountability it really helps you keep moving forward. Without this mastermind that I've been for almost a year now, I don't think I would have been able to release our course, the Converting Website, so quickly and effectively. It really helped keep me on my toes. I would tell the ladies in the mastermind currently it's just ladies in there I would tell them my goals and when I wanted to have things done and they were always there to help check in on me and make sure that I was hitting those goals. And if I didn't hit a goal, it was always very supportive and we figured out when to have the next goal for it. So it's just been really great to have that support system that you may not get if you're a solopreneur, or you may not get even if you have employees, because they're busy doing their things and they aren't you know at where you are as far as the mindset of what you're trying to accomplish because they're busy doing the things for you right. So being in a mastermind is so great for accountability and you can help others with it too. I feel like when we give in this world, we receive even more. So I love helping the other people in the mastermind I'm in when they get stuck with technical problems, because I just it fills my cup and it fills me up. I mean, probably I'm going to get you know return back on investment tenfold, but that's not really why I'm doing it. I'm doing it to help others and it just helps put good mojo out into the world, to put it simply. So another reason is it gives access to different perspectives and ideas. So this is the one of the things I absolutely love about the mastermind I'm in.

Speaker 1: 7:19

The ladies in it are from various different backgrounds. Some are coaches, some are artists, some are LinkedIn experts, some are artificial intelligence experts. We have such a variety of people in this mastermind, but we have one thing in common and that is to help each other and to grow our businesses. And having these different perspectives really has helped me refine, for example, my sales page on the converting website course. They really helped me dig in and make sure it was speaking to my ideal customers, because some of them could be my ideal customers. So I really got some really good perspective in making sure that my language wasn't too technical, it wasn't too down on the weeds, you know. So if you are a coach, you can get some feedback from other non-coach people, for example, to see if the language you're using speaks to your target people. Maybe, maybe I would be a good person for you if you're a coach, to be coached. You know, does it speak to me? So it's really great to have this different perspective, yeah, and all these different ideas within the group that we can bounce ideas off of.

Speaker 1: 8:32

For number three. Two it helps problem solving and it's a great collective brain power. It kind of goes along with number two is that we all, all of our minds, work differently. We might have some similarities but we all like look at different things in different ways. So the same situation could happen to, let's say, there's 10 of us in the group. All 10 of us get the same situation happen to us. We're all going to interpret that situation differently experiences. Then you can really start solving harder problems a lot better and more efficiently whenever you have a nice small niche group that's going to really work together to help problem solve.

Speaker 1: 9:20

And using that collective brain power to really bounce ideas off has been great, and many times other people in there will have a problem. And it will either and it may not be related directly to what I'm doing, but it'll either spark an idea on what I am doing or I might be able to help them out. And especially with how the digital space has created such barriers, even though it's supposed to really be connecting us. It's created such barriers to normal human connection too. So this is a great way to bring in that human connection, especially if you're craving that as a solar maneuver in problem solving, and using this collective brain power can really help you feel super connected.

Speaker 1: 10:12

And then, number four, it can expand your network and resource. So I have found ladies in here that have referred people to our business and helped us out in that way. I have also done the same for them. I have referred people to them when I know that somebody needs their expertise or services. So it's a really great way to expand your network and grow your reach. It's just a fun, honestly fun, a simple way. I'm sure you might remember if you're old enough back in the days when you go to networking events and you go meet people you know, like, say, before hours, before work hours, where you go to conferences every so often and you meet people and you network people with people. The nice thing about a mastermind, though, is you're always meeting and networking with people within that group, so you build a much longer lasting relationship than some of these networking events where you may not go back and see the same people again. So this is really a great way to really just bring up your reach out there in the world and provide again I keep coming back to that human connectivity, but it's just so important to us, especially in this high technology nowadays.

Speaker 1: 11:22

Right, and then, number five, it's a safe space for growth and feedback. This is a place I have absolutely no problem asking any question that I want and know that I'm going to get constructive, helpful feedback, and if somebody doesn't understand my question, they will ask for more information so they can fully understand the question, so that they can then help me. I just absolutely love that. I feel safe. You know, telling her my business problems. You know we all have business problems. There's no business out there that's ever perfect.

Speaker 1: 11:59

Something's always coming up that's getting in our way of our growth or our goals, and so it's wonderful to have a place where you can vent constructively, let's say and also receive that constructive support and helpful feedback to really put yourself in perspective. You know, say something doesn't go your way, you're trying to launch a new product or a new service and it doesn't quite sell like you want it. Then you're going to have these people that are going to be there to support you and lift you up and say you know what? Look at what you did correctly, and then they tell you all the things that you did correctly. You know, let's try this again and see where it goes, or let's tweak this one little thing and see where we go with it. So it's a really great way to get that genuine support that us business owners really, really need. Okay, so let's recap this episode. Really need. Okay, so let's recap this episode.

Speaker 1: 12:56

So masterminds are a wonderful thing to have in your business, especially when you want to speed up growth. And, like I offered, feel free to message me, find me on Facebook or LinkedIn and drop me a message, or you can text us right here on the podcast and I'm happy to point you into some great masterminds that I am in and help you, point you in the right direction. So the keys, though, for masterminds and how they can benefit. Let's go over those real quick. Let's recap Number one is accountability.

Speaker 1: 13:20

It helps keep you moving forward in your business goals, whatever they may be. It also gives you number two, access to different perspectives and ideas. Number three problem solving with a collective brain power is so valuable so that you're not in your head and turning on the same thing. People can pull you out when you're stuck and help you keep moving forward and help solve your problems much faster. Number four expanding your network and resources. This is so important, especially nowadays where we're all behind computer screens or our phones Really great way to really make that human connection and personal touch and really get to know other business owners.

Speaker 1: 13:59

And number five, a safe place for space and growth and feedback. So when you're stuck you can go and tell them your problems where you're stuck and they are just so supportive and happy and helpful and great to help get you back on track and get you back on track more quickly than if you're like turning in your head, like a lot of us do, especially as entrepreneurs and business owners. I'm sure you feel the same way. So that's all I have for this week's episode of the e-commerce made easy. I hope you absolutely loved it. We would love to hear from you. You may drop us an email at podcast, at bcsengineeringcom, with any questions or anything you want us to cover on the podcast. And, like I said earlier in the episode, you can always click that text carry button on your podcast app and I will receive that. And if you have anything else, just find us on Facebook or LinkedIn and we are happy to connect and we will see you next week.