The Benefits of Interacting with Mastermind Groups

Have you ever heard the concept of a mastermind group? In episode 168 of Journey to $100 Million, listen in as Erik shares with you what a mastermind group is, as well as how it has benefited him throughout his career. When in a mastermind group, you are surrounded by minded individuals, and get together on a regular basis to talk about your business, how you can grow your business, and discuss different techniques you can try in order to get ahead.

Erik goes to a couple different mastermind group meetings, but one in particular is interesting. This is because, this mastermind meeting in particular, is a mini-mastermind; meaning he meets with just one other person: Kevin Griffin. Kevin Griffin is an old buddy of Erik’s from his software development days. Kevin and Erik still keep in touch because they have a lot in common and are both trying to grow their agencies. They have been getting together for coffee about once every two months for many years.

This meeting is always last minute. Erik and Kevin schedule their meetings just about a week before, and catch up and talk about what is going on in each others’ professional lives, as well as bounce ideas off of each other. Since they have a history, and have done a couple of projects together, they have seen each others’ businesses grow and morph over the years - adding context as far as the updates they are providing each other. These meetings are a really good time for Erik and Kevin to sync up with one another, catch up, and learn from each other.

When you are in a mastermind group, your goal is not only to share, but also to learn. If you are just sharing, and not getting anything in return, that does not make for a good mastermind group meeting. You really need your mastermind group to be a collection of peers. Something has to be in common, and you must be aligned. You can not be in a mastermind group full of 75 million dollar companies, when you are just a 1 million dollar company. There are very different concerns and struggles between those two groups.

If you do not have a mastermind group, a mini-mastermind, or someone that you meet with on a regular basis to bounce ideas off of, Erik highly recommends doing so. It is important to see what others are doing, or to get new concepts you haven’t been exposed to. It doesn’t take that long. As a matter of fact, when Erik and Kevin Griffin meet, it is usually just an hour at 8am. Not that big of a deal, it doesn’t require juggling a lot of different events or calendar items, they just put it on their calendar - and do it!

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Erik J. Olson is an award-winning digital marketer & entrepreneur. The Founder & CEO of Array Digital, he is also the host of the Journey to $100 Million Flash Briefing and daily podcast, and the organizer of the Marketers Anonymous monthly meetups.

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Kevin Daisey is an award-winning digital marketer & entrepreneur. He started his first company when he was just 23, and is the Founder & CMO of Array Digital. Kevin is the also the co-host of the Journey to $100 Million Flash Briefing and daily podcast, and the co-organizer of the Marketers Anonymous monthly meetups.