You are on the path to creating a successful business... Good on you! But the constant nagging question is: "How do I grow my business and earn more income?" The truth is that there are just 3 ways to grow your business. There may be…
You’ve probably heard of the saying “Two heads are better than one.”
And this concept totally applies to generating online business ideas.
We have actually come to call this idea the Mastermind Growth Hack, and if you operate a business online, joining an online mastermind group is definitely going to take your business to the next level.
If you aren’t generating profits yet (or at least not generating your desired profits yet), then you are definitely missing out on what this whole ‘mastermind’ concept could do for you.
Keep in mind that the point of this post is to help you define your online business idea. (We will talk more about this in a moment. But for now, let’s continue with our discussion on the mastermind growth hack.)
But now, I’m going to let you in on this mastermind growth hack thing. How do you do it to get your business going? How do you generate 6-figures while continuing to replicate the process for years and years to come?
Let’s get started and show you the road to massive business success!
A mastermind group, as coined by Napoleon Hill, is a group of two or more people who are focused on a single idea or a single goal.
You can read a more in-depth explanation in Hill’s book Think and Grow Rich (which is an outstanding book that came out in the 1930s. It’s about the laws of success, and is an absolute must-read for anyone wanting to succeed in business and grow wealth).
In essence, a mastermind group takes the combined efforts of two or more people and focuses them, with laser-like precision, onto an idea.
The idea behind it is that when more minds are involved in the pursuit of one common goal, the results will be faster and more powerful… and it actually works!
If you are still confused a bit by the idea of a mastermind group, you might try thinking of it like this.
Let’s say that you’ve got two candles burning separately. Yes, they can produce light as individual candles… but what if you tilted them together and combined their flames to produce EVEN MORE light?
Well, you get a bigger flame, and a brighter light.
An online mastermind group does pretty much the exact same thing. When multiple people work in synchronicity together, toward a common goal, they can get a LOT more done than a group of individuals who are only working individually.
Two heads are better than one… but, you will also discover that two heads working together are better than two heads working separately!
The takeaway from this is simple. You need to find another candle to combine with. Of course, the tricky part is in finding the right candle for you and your business.
If you don’t find the right kind of energy to blend with your own, things can actually take a downward turn.
It’s important that your group partner (or partners) has similar goals, values, and ideas as you. You should all be compatible to maximize the return on your energies.
Let me tell you this little story about my first mastermind group experience...
Before I learned about this mastermind growth hack, I struggled in my online business.
One of the worst problems was my self-limiting belief. These beliefs slowed me down and prevented me from getting the results that I really wanted. From 1999 to 2008, I didn’t make very much progress.
I did not know the secrets of affiliate marketing, was direct linking on MySpace, tried to launch getrichsomeday.com, tried selling t-shirts, created online poker games, and more.
The self-limiting belief that did the most damage, however, was my belief that I wasn’t a content creator. I didn’t believe that I held even one piece of the puzzle of success.
You may be awesome at SEO. You may do a killer job at website development. These are both great… but they are still lacking one thing.
If you aren’t adept at content creation, you will find yourself at least a little bit paralyzed.
You need content for your sales page, landing pages, product deliveries, Facebook ads, social media marketing, etc.
Or maybe your problem is reversed. Maybe you’re crushing content creation, but lack skills in SEO or website development.
Maybe you are great at video, writing, podcasting, etc… but not so great at getting found online!
This was my story up until 2008, when I met my beautiful wife, Melanie. She was, as it turned out, the bright burning candle that I needed to complete my flame!
At first, we were working on a real estate business. This was, at the time, dying and falling flat. Plus, with the real estate industry falling around us, this business bombed.
But in this experience, we learned. We learned that we both had complimenting gifts. Hers was content, and my job was the marketingine was optimization.
Once we figured out how to use these gifts to work together, it was only a matter of time before we starting crushing future business endeavors. We were unstoppable.
I’m going to continue my first successful mastermind group story with a little more back-story.
Melanie and I met at real estate school. We got elbows-deep into the game before our real estate businesses plummeted.
But despite this setback (or, should I say, LESSON…), we eventually learned that we shared a passion for something that, at the time, seemed unrelated to our business goals.
We both shared an intense passion for meditation!
She actually took a course on it, read HUNDREDS of books on the subject, and practiced all the time… getting better and better at this skill she loved.
I was also into it, and realized very quickly how cool of an activity it was. But what started out as a simple passion for both of us eventually grew not only to be a regular activity that we enjoyed together, but also something much, much bigger…
And boom… the idea struck our brains like a lightning bolt! We realized that if she could start creating and publishing content, I could show her how to create content for SEO.
She started delving into content creation, and I started optimizing. I started leveraging the content she created to maximize our reach, build a list, and effectively grow a business.
Bang, bang, bang!!! Online Business idea!
In the end, when we brought our own unique skills to the table and combined them the right way, we turned our passion for meditation into a thriving content creating/marketing business.
She was a content creation and social media marketing wiz, and I was very, very good at optimizing content.
She came up with awesome blog posts and killer ad words for sales pages. She also designed awesome meditation courses and wrote several books on the topic.
Meanwhile, my digital marketing job was working behind-the-scenes. I dove head-first into SEO and made sure that her blog posts were showing up in search engine results.
I made sure that our website was functioning correctly, and learned how to advertise on Facebook with success.
She and I had found our niche. We were like two candles making one huge, profitable flame!
The great thing about mastermind groups is that the sky is truly the limit.
First, you enter the discovery phase… where you realize what you are good at. But then, you cross-paths with someone whose skills complement your own.
You may even find that this person’s knowledge-base, passion, and drive makes them an awesome piece of your puzzle!
So there is great power in combining strengths with other people… especially if you are a good match for one-another.
This is why an online mastermind group can really open the throttle and take off… because they will not only have so many more bases covered, but will also have different perspectives to pull from.
This is actually how our second online business success story was born!
Back in Albuquerque, New Mexico, we knew a woman who had written a TON of home study courses on channeling. She was brilliant, and her courses were awesome!
The only problem? She wasn’t making any money! She had no audience, no list, no platform, no blog… and no avenue to sell her product.
Her business was struggling. Obviously, she was great at creating content. But she also had NO IDEA how to get the word out about what she had to offer.
She was an expert channeling teacher, and had already taught thousands of people how to channel. But because of her lack of marketing skills, she had reached a brick wall.
So my wife and I stepped in. We decided to help her. In return, we received a percentage through a joint-venture agreement.
We partnered with her and began selling her home-study courses. 10% went to the people doing the videos for us, and Melanie and I split our part of the pie... 45%.
My wife and I paid all of the marketing costs and fees, of course. This gave us the second-biggest slice of pie in the deal! (The content creator, of course, gets the biggest slice. That’s just the way these things usually go!)
One great thing about this deal was that it selling information products!
Once we sold a product, it was just downloaded. Bam. That was it.
No shipping, no boxing, etc. Our support staff sometimes had to help customers with issues, but that was it. It doesn’t get much simpler than that!
Over the years that we continued in this deal, we generated a whopping $100,000 or more! The synergy in this agreement fueled a huge return on our investment. It just worked!
Are you ready to apply this mastermind concept to your business? If so, AWESOME! You are about to seriously level up!
Here are the steps that you have to follow to make sure you get it right.
Step 1 of the Mastermind Hack requires you to know and understand your passions and/or strengths.
Your passion is the fuel that you will need to keep doing what you set out to accomplish.
Your passion could be anything, as long as you love it. Do you love making vegan recipes? Do you love to dance?
You’ll know passion when you feel it because it will TOTALLY FIRE YOU UP! It may start out as a hobby or something you do because you love it.
But passions make excellent starting points for online businesses, because the passion that drives you to pursue what you love is the exact kind of passion you need to fuel your business endeavors.
What is your passion?
In truth, defining this is not always easy.
Here are some questions, though, that may help to get you into the right frame of mind.
What do you see yourself doing for the next 20 years? What excites you? What would you choose to do every day if money were suddenly removed from the equation entirely?
You can go through online business idea lists, but the truth is that you are much more likely to succeed if your business idea lines-up with your passions, dreams, and desires.
But it all starts by identifying your passion.
You need to find that skill or thing that motivates you to wake up excited every morning! You need to find that topic that makes you excited to make videos, write blog posts, and record podcasts.
Your passion is a topic that will motivate you and make you feel alive!
Does racing make you feel alive and energized? Do you LOVE to talk about politics? Do you CRAVE the opportunity, every day, to write fantasy or cook pizza?
Define your passion. This is where it all starts.
You might say… “But Miles, I don’t know what I’m passionate about…”
If this sounds like you, no worries. There is nothing wrong with you!
Some people get their passion figured out right away. But other people need more time to discover it.
If you are more like this second group, then you might want to start out by highlighting your strengths.
Okay, so maybe you’re not 100% sure what your passion is.
If so, then you can, instead, focus on your strengths.
Are you a talented writer? Are you really good at photography? Do you have a natural talent for dog training? Do you seem unnaturally good at ballet dancing or cake-baking?
Even if you don’t know what your passion is, you can usually find your direction by looking at your skills and strengths.
Start playing to your strengths and getting better at them. Work on them every day, and work toward becoming a pro at the things you do best. Odds are very good that this will lead to you discovering your passion.
At the very least, your strengths will guide you toward a strategy for how to mastermind-group your way to a successful online business plan!
Step 2 requires you to figure out whether you are a marketer or a passionate creator!
I’ll show you how to find each one below.
It is important that you understand yourself enough to know which category you fit into better.
If you aren’t sure about pursuing your passions with an online business, that’s ok. If you have a passion for marketing, you can actually blend this with someone else’s passion to mastermind hack your own success.
Let me explain how!
There are literally hundreds (if not millions) of people who are super passionate about something. But a lot of these people do not know how to market themselves to potential clients.
So if you have a passion for internet marketing, and have chosen to develop those skills and practice that craft, you will discover that you have the ability to super-mastermind-hack your own success by joining up with people who need those kinds of talents.
What you need to do is find hyper-passionate people, and partner with them to do all of their marketing stuff.
That’s it. That is, hands down, the easiest and most profitable way to mastermind hack your own success in today’s online world.
You can help these passionate people by…
For each purchase made, you can split the profits!
It could be a 50/50 split, or whatever your agreement is.
This online business model allows you to live out your passion for marketing, while at the same time, teaming up with someone else in a way that will allow you both to pursue goals that will help you to achieve your visions.
You bring the marketing, they bring the content. This blend is a tried and proven mastermind hack that can help you to build awesome online businesses!
Now, let’s take a moment to look at this from the other perspective. Let’s say that you have a passion and love to create content for it. Maybe you LOVE board games, or dog training, or weight loss, or movies, or comics… or whatever it is that you love.
You may love creating content… but what if you have absolutely zero ideas about how to get your content out there?
If you could just get it published, build an audience, and build an empire for your business, you could be golden.
You just don’t know how to market online!
If this sounds like you, then it may be about time to look for a good internet marketer to partner with.
Mastermind with a marketer who’s got the know-how on SEO, list-building, email marketing, social media marketing, and so on.
Consider reaching out to that person to make a deal. You can keep doing what you’re passionate about, but you can also gain success while sharing your passion with someone who has complimentary skills.
It is all about the mastermind group hack mentality. This is how you win!
There are many ways to make more money, but all of them fail without these two vital components.
The success of the online mastermind group that you create will depend on these two different, yet essential building blocks.
Find an awesome content creator who is not ranking in a niche that you are interested in for yourself.
My businesses really clicked because I knew the marketing stuff, had an interest in getting better at meditation, and my wife (and business partner) loved learning and writing about meditation.
Maybe you’re into eating vegan, roasting coffee from home, or training your labrador.
To get started, I would start looking for people who look like they are trying to figure out the optimization/funnel game, but who are honestly just failing out of a lack of knowledge.
Google labrador dog training course, and go to the pages listed further down Google… the pages no one ever visits.
Pages, 4, 5, 6 etc. Find a labrador training course that is great, but that is just not ranking well due to poor SEO.
Find a site that is churning out awesome content on a consistent basis. If you do this first, then you’ll start off already knowing that they will bring serious value to the relationship.
You can start by just building a relationship. Start by giving them some value. Get on the phone with them. Do a one-on-one consultation with them. Help them out, and show them that you know the game.
Once they’ve gotten more comfortable, propose a joint venture. After that, it’s all working and winning!
Finding internet marketers to help you (the content creator) is a process that may sometimes be a bit more difficult. The best way to get started, though, is to just start expanding your professional social circles.
Not sure how to start looking for people who have marketing skills?
Here are some links that might help!
There’s also an older website called jvnotifypro.com. It has a forum where people log on to look for other people (especially marketers) to help them with their online businesses.
You can start here… but honestly, you can also expand your search to look in your local community as well!
Networking groups, Meetups, and even online social media groups can be great places to make your need for a marketing partner known.
The most important thing to remember, though, is that you need a marketer who is as passionate about their marketing craft as you are about your content creation craft!
Remember… hustle, work-ethic, and consistency are going to be the determining factors for success. And to ignite the fire of success, you need the fuel of passion.
You want serious, high-vibrational energy in your corner. Nothing less!
Remember how, in the beginning of this post, we talked about defining your online business idea?
Well, here’s the answer.
In building an online business and taking it to the next level, there are two things at play:
First, you need a passionate creator.
And secondly, you need an equally passionate internet marketer.
Listen very closely to what I am about to say. You may not necessarily like it, but you must take it to heart if you truly want to win.
Few can be both. There are two types of online entrepreneurs and this is the power of the two different candles joining together.
This is why it is vitally important to start a mastermind group consisting of both sides of this equation. You need to elevate your business with both skillsets to see true success.
And that is how you define your online business. Just follow these questions with simple answers.
This will literally help you to create a road map that will bring everything into focus!
I hope that this has been a helpful post to everyone hoping to achieve success! If you’re ever stuck or need help, please let me know what I can do!
Feel free to hit me up in the comments for advice, tips, help, etc.
Have an awesome day!
Miles is a full time internet marketer who sells information products and a niche membership program with his wife, Melanie. Together they have created a lifestyle business that allows them true location independence and this blog where you get to see behind the scenes and see how they have built their online business from scratch.