#023 : Embrace the Power of the Many with a Local Mastermind

#023 : Embrace the Power of the Many with a Local Mastermind

We’ve come to believe that every gym owner could use the added benefit of having a trusted group to shares ideas and discuss business issues which is why we built The Network.

However, participating in a local business mastermind has an entirely different set of benefits. Getting together with a local group of like-minded individuals who can meet on a regular basis to support and encourage one another, to hold each other accountable, and who will always believe in the group’s highest good is a recipe for an exponentially happier experience in the entrepreneurial journey.

On this episode of Gymwright LIVE, Mycal Anders, the owner of CrossFit PHX and co-host of the Feed Me Fuel Me Podcast, is going to break down the benefits of participating in a great mastermind group and some actionable next steps to take if you’d like to create your own.

Join us every Friday at 10 a.m. PT on the Gymwright Facebook page where we’ll be airing live. Be sure to stick around for the live Q&A session at the end of the show so we can answer any questions you have.

How to Create a Local Mastermind:

  1. Lead without expectation.
  2. Arrange a “Meet & Greet” with business leaders in your gym.
  3. Be choosy about your members.
  4. Connect the dots for them. Show them how the others can help them solve pain points either directly or indirectly.
  5. Organic is best. Sometimes no business gets discussed at all and the group simply facilitates a break from “entrepreneur island”. That’s ok.
  6. Set the stage and edify each individual.
  7. Place a regularly scheduled time/place on the calendar for your mastermind and confirm attendance at least 12-hours prior.

Watch the show below and check out the detailed show notes on this page for more info on the points above. This show was recorded live on Gymwright’s Facebook page on Friday, March 16, 2018. 

Table of Contents

 

2:45 Why Should a Gym Owner Care About Creating a Mastermind?

You just can’t know everything there is about running a business. Being open and receptive to feedback and opinions from some of your superstar members can be one of the best things you do for yourself.

Now, we also all know what can happen when we open the flood gates of opinion and suggestions to just anyone. That’s why creating a mastermind within your gym made up of a select group of members just makes sense. More brains are better than one. As the leader of your gym, you can leverage the experience and opinions of your member-base especially those who are in business themselves. 

You’ve heard this saying before, “your network is your net-worth.’ And while it’s super cliche, like most overly used phrases, there is a lot of validity to it. Ideas come and go. Team members come and go. But your network doesn’t come and go.

As a gym owner, you have a built-in power network. Consider the fact that facilities like ours tend to charge quite a bit more than your average gym so we attract higher-performing individuals. It’s a huge opportunity to put yourself in situations where you’re the  lowest man on the totem pole to get a more advanced and fresh perspective on business. If you’re humble and receptive, this network of high-achievers can take you places quick.

local mastermind

Image Credit: CrossFit PHX

5:58 How to Create Your Gym Mastermind

In the beginning of his mastermind experiment, all Mycal wanted to do was make sure certain members were aware of each other. There were so many synergistic opportunities on the table that weren’t being taken advantage of because these members trained at different times and didn’t have a chance to talk shop when they were in the same class.

“I didn’t start a mastermind to start a mastermind. I just wanted awesome people to know each other,” says Mycal. He decided to help his members proactively connect the dots. If you’re looking to buy a house, you should meet Jeff. If you’re looking to sell your business, you should talk to Carole. He soon realized that even though he would make that connection, his members still didn’t take that next step to seek out the referred member – so he decided to take his plan to the next level.

Choose <10 of the Right People 

He carefully selected a handful of some of his most valuable members – people who owned businesses, who had lots of successful life experiences, people who were doing interesting things, etc. Keeping the group small ensures that the conversation is manageable and doesn’t break off into subgroups which can be distracting and damaging to the energy of the mastermind.

Consider the amount of information you can glean from people who are 10-20 years ahead of you. If they collectively take you under their wings and give you an education via their experience – you’re already miles ahead from the next gym owner. The relationship between all members is symbiotic and never one sided which makes for an amazing helpful experience for all. You’ll find yourself leveraging their expectations of you as a business owner not just as a gym owner.

Meet and Greet

Mycal invited his power members out as a collective for beers. He introduced each one of them one by one and made them each the content expert in their own space regardless of any preexisting relationships. Edifying each person showed the type of value they could bring the group. The rest of the conversation started organically and the rest is magical history.

Consistent Meeting Time & Place

One of the most important aspects of a successful mastermind group is a consistent meeting time in a local place. The place can change from time to time, but jumping around too much can add complexity to the meet up. Ensure that the mastermind meeting is on everyone’s calendar as a recurring event so there’s minimal follow up. 

local mastermind

Image Credit: CrossFit PHX

10:06 Quick Networking Techniques

When we’re talking about networking, there are 2 strategies you can do try: 1) You can make yourself extremely valuable simply by playing the role of match-maker and connecting people who should know each other. 2) Secondly, when you introduce people and you do it with clout and put a little bit of thought into the introduction – it can go a long way.

 

local mastermind

Image Credit: CrossFit PHX

23:15 Masterminds are Critical to Your Wellbeing

Entrepreneur life can be tough. We have a tendency to feel like we’re all alone in our challenges. So, to sit down at the table with other people who are going through the same challenges, or better yet, have gone through similar challenges and come out better on the other side is critical to your success and wellbeing.

 

local mastermind

Image Credit: CrossFit PHX

25:00 Structured or Organic?

We suggest keeping the structure pretty loose rather than working with an agenda. Sometimes, no business is discussed at all and that’s great too. As we mentioned before, many sessions will turn into meetings about lamenting about the entrepreneurial rollercoaster which can be even more helpful than discussing the latest trends.

While the structure can be loose, be sure to tell attendees to introduce themselves and contribute. That’s one rule that shouldn’t be skipped over. 

 

local mastermind

Image Credit: CrossFit PHX

29:00 one piece of advice you’d give gym owners?

Leverage the knowledge and experience of your members. By empowering them, you give them ownership of the community, which will only enhance your business.

 

Mycal AndersImage Credit: Fabulous Arizona

About Mycal Anders

A competitive athlete his entire life, “Derz” played football at both the Air Force Academy and Texas A&M – Commerce. He fell in love with fitness in college while working in the offseason at the Academy. He was fortunate enough to initially develop his knowledge from Allen Hedrick, M.A., CSCS*D, the head strength and conditioning coach at both the Olympic Training Center and the Air Force Academy.

He continued his education at Texas A&M – Commerce under Dr. Ken Alford, Ph.D. In 2006, Mycal graduated with a Bachelor’s of Science in Health and Human Performance, Kinesiology. Upon the completion of his collegiate career, his focus was shifted to bodybuilding where he placed in the top five of each competition, winning two classes along the way. As an Officer of Marines, he spent time developing remedial fitness programs for the Marines in various units boosting performance in annual Physical Fitness Tests by more than 25%. In 2009 and 2011 he developed offseason strength and conditioning programs for the Gila Ridge High School Football team, helping them reach the 2011 Arizona State Playoffs for the first time in school history. This programming helped a number of players move on to play at the college level. Mycal now regularly competes locally and regionally in CrossFit competitions.

With a Master’s of Science in Exercise and Wellness (Arizona State), backed by Bachelor’s of Science in Health and Human Performance (TAMU-Commerce), Mycal has dedicated his life to applying his education to fitness and performance training. According to his peers and clients, Mycal is one of the best performance coaches in Arizona.

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Jessica Depatie About the author

Jessica is the marketing maven here at Gymwright. She's a business consultant and holistic marketer for fitness businesses. She specializes in the decision-making psychology of what makes everyday people want to optimize themselves. She dives deep into how people seek out growth in the pursuit of living happier and healthier.

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