Episode #145 - The Power of a Mastermind-REBOOT #101

Episode Notes: 

Ever notice how some businesses really grow, expand, and branch-out, while others just seem to stay stagnant… unchanged… just getting by?

When’s the last time you got out of your shop and attended an industry event, off-site training, tradeshow or just met with other shop owners to discuss best practices?

Could joining a mastermind group ignite your business or personal life to unprecedented heights?

Mastermind groups are more than just a networking opportunity; they're a catalyst for growth and success. Tune in to understand how this could be your golden ticket to scaling your business or personal life to the next level.

Connecting with like-minded individuals, sharing knowledge, and providing mutual support are the pillars of mastermind groups, a concept dating back to Ben Franklin's Junto Group and immortalized by Napoleon Hill's famous book "Think and Grow Rich".

Join us this week, as we reshare the concept from an earlier episode, that will allow you to multiply the success you experience, in both your business and personal lives, by simply spending time with other like-minded individuals, on a regular basis. Being part of a Mastermind group, allows you to harness the power of many minds working on solutions that benefit the group. Whether you’re looking to improve your fitness, financial, or shop’s performance, joining a Mastermind is the quickest way to your next level!

Sign up for FREE to my "Quote of the Day" below:

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Transcript

Speaker 1: 0:00

You know, after spending a couple days at a live event with a great group of people, it just kind of hit me that there's still yet another problem with our industry that we need to talk about. So this week I want to talk about a problem. The majority of repair shops and business owners in general Rarely wander out of their shops, their businesses, even their everyday lives, to see and learn what others may be doing better or different or more efficient in their shops and personal lives, how others move the needle, what you can do to move the needle in your business.

Speaker 2: 0:36

Welcome to the mind wrench podcast with your host, rick sellover, where minor adjustments produce major improvements and mindset Personal growth and success. This is the place to be every Monday, where we make small improvements and take positive actions in our business and personal lives that will make a major impact in our success. Next level growth and quality of life.

Speaker 1: 1:03

Hey, what's up everybody. Welcome to the mind wrench podcast. I'm your host, rick sellover. Thanks so much for stopping in. If you're a returning listener and haven't done so already, please take a minute and click the follow or subscribe button and then rate and review the show when you're right and review the show. The algorithms for Apple, spotify, google podcasts, iheart radio, amazon music and all the other Platforms will see that it's valuable and show it to more people that have never seen it before, and hopefully it can help them too. I would really, really, really appreciate your help sharing this word with your friends and family as well, and if you're a brand new listener, welcome. I hope you find something of value here that helps you in your personal or professional life as well. Please make sure to click the subscribe or follow button so you never miss another episode.

Speaker 1: 1:47

Well, as I'm preparing to travel this week to attend another exciting mastermind event, I was reminded how anxious I was last year getting ready to attend my first live in-person mastermind, and what a powerful and memorable experience it ended up being. You see, I'd read about and understood but these get-togethers were in Concept how they benefited those that attended and what their intended purpose was, but I had no idea of actually what transpired during something like this. I Was a little nervous about spending a couple days with an already established group and how I might be perceived, and my little inner villain was telling me I could be perceived as a party-crasher, but that's what limiting beliefs try to do. Anyways, I couldn't have been any further from the truth. This group welcomed me with open arms and we shared and learned and hung out together and I'm absolutely jacked to be heading back down there again to catch up with some new friends. I recorded an episode last year after attending this event to share my take on masterminds. After re-listening to it again, I decided this needed to be shared, as there's so much value in being part of this type of collaboration. I want to make sure everybody possible understands a message. So let's go back to last fall episode 101 the power of a mastermind enjoy. You know, after spending a couple days at a live event with a great group of people, it just kind of hit me that there's still yet another problem with our industry that we need to talk about. So this week I want to talk about a problem.

Speaker 1: 3:14

The majority of repair shops and business owners in general Rarely wander out of their shops, their businesses, even their everyday lives, to see and learn what others may be doing better or different or more efficient in their shops and personal lives, how others move the needle, what you can do to move the needle in your business. There has been, and will continue to be, countless changes going on in this industry. Keeping your head in the sand will not make it go away, nor will it prevent the wheel of progress from turning, and not getting engaged will only lead to the eventual demise of your business, which really would be a shame because you've hung on this long, already, weathered quite a few storms, may changes in how you repair cars, equipment, technology, tools and materials, but unless you're dead set on selling your shop and retiring or completely getting out of this business altogether, my opinion, based on what I've learned over the past couple years and and the involvement I've had with leaders in this collision industry, is that I truly, wholeheartedly believe that the next five years or more Will be some of the most profitable years ever, filled with great opportunities that we've not seen in the past before. But those profits will never be realized and those opportunities will not be capitalized on if you do nothing to educate yourself or improve the control of those in your business, like processes, procedures, technologies, marketing and soft skills. All the information is out there and available to any that seek it.

Speaker 1: 4:45

Sometimes it takes connecting with your peers not your competition, but other business owners in one of the many available forums others have used, such as attending some local or virtual training events, registering for free online or virtual webinars, seminars and learning opportunities, attending an upcoming trade show with key employees or joining a Facebook group or, if you really want to improve your game, become part of a mastermind group. Okay, so exactly what is a mastermind? The combined power of shop owners in the same room or space, and it can be virtual, like Zoom. Sharing difficulties, concerns problem areas of their business or life that they're not happy with or need improvement in, and learning from each other on how to overcome, improve, pivot, without fear of exposure, embarrassment, criticism or dismissal. The amount of support from those that have strengths in the key areas and share them for the benefit of those with offsetting weaknesses and vice versa, is incredibly powerful. The old concept of two heads are better than one is more than just an old saying, although the mastermind concept is found within the bible, but first known practices of this type of peer group were back in 1727, ben Franklin formed the Junto Group, which consisted of 12 members of all different professions to promote useful knowledge, and that group met weekly for 38 years. And then, in the early 1900s, us President Harding was part of the Vagabonds, a mastermind group that included Thomas Edison, henry Ford and Harvey Firestone, just to name a few. Now talk about masterminds. These guys were a few of the men that shaped the future of this whole country, but probably the most well-known historic version of this was 1937.

Speaker 1: 6:34

Napoleon Hill coined the concept and explained it in his book Think and Grow Rich. Napoleon described the mastermind this way the coordination of knowledge and effort between two or more people who work towards a definite purpose and a spirit of harmony. No two minds ever come together without thereby creating a third, invisible and tangible force, which may be likened to a third mind. If you've never read the book before, I highly recommend you do so, and if you don't want to read the book, you can get it in an audio version and listen to it on your phone or in your car. But I'm telling you, the lessons you will learn are priceless.

Speaker 1: 7:12

Masterminds have grown steadily since those earlier years and millions have benefited from the incredible learning power, personal growth and increased income achieved as a result. These days, there are almost unlimited choices in both the number of available groups and professions that utilize one form or another of the mastermind concept. Some of the most successful, wealthy and fulfilled leaders in sports, entertainment, business and personal growth have made an ongoing commitment to at least one mastermind group, many of them belonging to several groups. You're only limited by your appetite to learn and grow. There is no one way to mastermind with others, no set rules or regulations. It can be organized to any frequency or style of meeting, live or in-person settings, the size of the group or financial obligations. You can join someone else's or start your own, and costs can be anywhere from free to hundreds of thousands of dollars a year. Some high-earning professionals pay 250,000 to a million dollars a year to be part of a mastermind. But remember, the old adage of you get what you pay for applies to this as it would anything else. Don't be afraid to invest in yourself on this almost without fail, regardless of what it costs you. You will pick up an idea, a tip, a tactic or a solution through your mastermind that will bring in many times more in income, sales or cost savings than you originally invested.

Speaker 1: 8:40

Have you ever looked in the mirror and said to yourself how come I'm not further along than this, or why can't I ever seem to get ahead? You're frustrated with life, unsure of your future, wanting to make a change in your current situation, but too scared to make that next move. Maybe you want to reach that next level in life or in your business, but not sure what the right move is. Or maybe you feel the best thing to do is nothing at all. Many of you may not know but, along with hosting my own weekly podcast, I'm a personal development mindset, business and life coach where I focus on helping people with self development mindset and how to make positive changes in their lives. And trust me, with all the negativity we've had to deal with in these past two years, I think we all need some positivity, positive change and a fresh approach to our life or our business. Sometimes talking to the right person can make all the difference. If you really want to start making those changes in your life, take action right now. Reach out and email, text, call or direct message me as soon as possible. Do it right now. I'll set you up with a free consultation call and pre-qualify you for either the one-on-one or business coaching that you really need to get your life or your business on the right track to success. Appointments are available right now.

Speaker 1: 9:52

I was first introduced to this concept just a few years ago, just before the pandemic started. I chose to spend money on an online event and, believe me, I almost didn't, because of the cost. It scared me to cough up that kind of a fee at that particular time, but I really pushed myself past my limiting beliefs that it was selfish or I wasn't worth spending that investment on myself and I wouldn't did it anyways, and I'm so glad I did. I learned so much. It literally changed the trajectory of my life. Since that time, I've surrounded myself on a regular basis with like-minded people that contribute in mastermind style discussions on a variety of subjects and have benefited from the multiplying effect of the thoughts of many. I applied this principle again when I was invited to join a mastermind by one of my new connections in this industry, along with five other great professionals from different sectors of automotive and collision repair, like financial, operational, marketing, consulting and even a collision shop owner. It quickly evolved into what is now a monthly show we produce that benefits the collision industry. The collision cocktail hour is a monthly Zoom call that any collision owner or leader, equipment provider or vendor can register for and join in on the discussions of today's challenges and concerns in an open and honest atmosphere. It's been very well received. We've had tons of positive comments and people asking when's the next show. But the real point is this if not for the mastermind, this show would have never been a concept or realized. But now, in a very short amount of time, here we are providing great value to the industry and making them part of the solution.

Speaker 1: 11:30

Here's a few lessons I learned from a couple days in a mastermind event. Just this past week I was invited by a very good friend in the collision industry to attend his first live mastermind event in a great destination area. It took me less than a minute to commit to attending. A couple years ago I would have said hey, thanks, but I don't think I can make it. I would have blamed it on a lame excuse or not having any clue what I'd be missing out on, no idea of the incredible value I'd be missing out on the information. I would not be absorbing the connections, I would not be making the better future I would not be setting in motion for myself nope, I just would have missed it and been none the wiser. But fortunately, knowing what I know now about the awesome value of being in a mastermind, I did not think twice. I booked the airfare, hotel accommodations and reworked my schedule to allow for this incredible opportunity, and I'm even more glad I did after attending. I got more out of it than I ever expected. What a great surprise.

Speaker 1: 12:28

The venue was top notch, the destination area one of the places I've wanted to visit for years but just never arranged the speakers and the content were all extremely informative and timely and the connectiveness of being part of this event was very powerful. This group accepted and embraced me, my input, and made me feel like I was already part of the family. The downtime or after hours activities and the meals together or the couple drinks together and networking is a very important part of that whole mastermind concept. Getting to know those in the group that you're with really helps elevate the experience. There was so much great information shared, not only from the guest speakers but much from the actual members themselves. Some of them got way out of their comfort zones and had put together presentations that they did in front of the whole group. It was really something to see some of these folks obviously extremely nervous to be speaking in front of the whole room get through their presentations to applause and support from the group. You could see the pride and the sense of accomplishment that they were feeling. It was a very cool experience.

Speaker 1: 13:32

Some of the topics that were covered were EV repairs. One of the members presented why his shop is specializing in strictly repairing electric vehicles, what the process looks like or how they drive that business to their shop, certifications, equipment needed and much, much more. They also had multiple speakers getting into the nitty gritty of ADAS repairs and calibrations, as well as the proper ways to perform those and document those for safety of customer and the liability concerns for the repairer, correct equipment, tools and software needed, as well as how to properly set up your own calibration center, what investment looks like and what an ROI in that investment would be. When it comes to blueprinting or advanced repair planning, there was a very detailed process methodology, presented and explained well enough that all members could understand and start implementing right away, along with a unique tool every shop should be utilizing Body Shop Booster. It's a simple technology designed with the sole purpose of helping body shops grow their businesses and simplify the customer repair experience. There was so much more discussed with marketing, running a family owned business and even learning when and how to say no to some repairs. So for me someone that doesn't own or run a collision center, but rather works within this industry to help others it was tremendous value to be there to be part of that mastermind. I'm sure the real value was had by every shop owner that took part in that multi-day event. I'm sure they're back now in their shops working with their teams and trying to determine what takeaway to work on first.

Speaker 1: 15:06

So if you're listening to this and thinking, oh man, that's what I need, or that's something I want to be part of, or I never knew something like that existed, how do I find out more? Just reach out to me. I'll be glad to help you out, guide you in the right direction. And if you're looking for more information on the tools and technologies presented and whom to connect with on those, please reach out to me as well. I can help.

Speaker 1: 15:29

So please remember what I said earlier change and advancement in collision repair will never stop or slow down. You can't keep your head in the sand and expect to win or even survive. You need to start facing the reality of how to not only survive but to thrive. Being part of a mastermind group could just be the catalyst you need to start your journey. Whether it's improving your shop, your health, your relationships or your financial state, finding a group of like-minded people with solid leadership can help you reach that next level you desire. Thanks again for tuning in. I really appreciate your support and I hope you have a great week. I can always be reached at wwwricksellovercom, where you can find all my social media links podcast episodes, blog posts and much more.