What’s a mastermind?
A mastermind is a group of peer-mentoring individuals that meet regularly (in-person or virtual) to encourage each other to reach their full potential and hold each others accountable. Masterminds are used by many successful entrepreneurs, including Bill Gates and Pat Flynn. They help them grow their businesses and improve their personal development.
Jim Rohn, motivational speaker and author, says that we are the average five people with whom we spend most time. Which people are most likely to help you in your personal and professional development? Participating in and being part of mastermind groups can help with this.
Why join an mastermind?
Accountability
First, mastermind groups are a great way to keep yourself accountable as an entrepreneur.
Each week, I ask my mastermind members how their business is doing and if they did what they promised to last week.
I don’t want to let my group down so I tell my members that I will do something and they end up telling me about it.
Feedback
You can get feedback from other people in the mastermind group who are also trying to build businesses like yours. You won’t find a group with such a unique insight or mindset. Similar-minded entrepreneurs can tell you with no bias what is wrong or right with your ideas. They are not your customers, and they are not your competition.
When you are unsure of where to turn, your group members can be your best resource for advice. My group members have a unique but relevant perspective. It’s a great way to get amazing feedback and help you decide where to go.
Collaboration
Your mastermind group allows you to collaborate on ideas and you can also get help from others in the group with tasks or projects. Although this is not the main purpose of a peer mentorship group, it can lead to opportunities to collaborate with other members of your group.
You can also cross-promote your group members. Your group members will all likely use social media and possibly have a blog. In exchange for being interviewed and featured on their blog, I have promoted their content via my Twitter account.
Network
It’s a great way for people to get together and network. This is a great way to make connections with other people who might be able or willing to help you. You will be able to open more doors if you grow your network.
When you least expect it, having connections and people who may know people in different industries can be very useful.
Resourceful
Your group members will likely have a wide range of skills and knowledge. You might have a lot knowledge in marketing, but need some help with design. You can help another member of your group with design skills while you help with marketing.
You can learn from your strengths, and also correct your mistakes, by blending different skills and backgrounds. My mastermind group has taught me a lot about topics that I didn’t know about. You will always have something to offer your mastermind group, and others will also bring something that will be valuable to you and the group.
Support
Your mastermind is not only a group that will support you when you are going through difficult times in your business but also a place where you can ask questions and get solutions.
Each week, someone in my mastermind is amazed at the quality of the help they receive and how creative it is. It amazes me every week how creative we as a group can be to solve someone’s problems in that mastermind.
Start your first mastermind
It is important to let your group know the structure for the first meeting. There might be members who are nervous because you’re all new and strangers. Let them know what the structure will look like so they can ease their anxiety.
It is important to make it clear that the first meeting will not be formal and informal. Everyone should have the opportunity to introduce themselves and talk about their businesses.
Tips
- At the very beginning, it’s important to follow a format for the meetings. This will help you build a sense of community and chemistry.
- Use software such as Google Hangouts. Zoom and Skype are also good options. When you send out your scheduling spreadsheet, it is a good idea to ask your group which software they prefer.
- It is a good idea for your sessions to be run smoothly by someone who has experience in masterminds or has participated in them before. They can also take over the leadership of those awkward first meetings.
- There is no perfect number of people for your group. However, it’s best to keep it small. My experience is that a group of 6-8 people works well. Too many people can make meetings too long, and it might be impossible for everyone to have equal access to information and gain value.
Shopify Mastermind Toys
Mastermind Toys, a Canadian authority on play, has been a top specialty toy retailer for over 37 years. They now have 68 stores across Canada. Mastermind Toys has a reputation for providing exceptional customer service and expertly curated toys. It also boasts passionate associates (or Play Experts) who provide knowledgeable guidance to parents, grandparents, caregivers, and children-at-heart. The brand was faced with increasing competition from big-box retailers and online marketplaces, so it set out to digitally bring its in-store delight to life and increase customer acquisition.
Mastermind Toys created an online store using Shopify Plus Agency Partner Stream Commerce. This made it easy and enjoyable to shop its 10,000 SKUs. Shopify Plus Agency Partner Stream Commerce allows customers to shop online and have their items delivered or pick up at the curb in under an hour, a market-leading promise. The experience includes a Gift Finder tool, as well as the option to add Mastermind Toys gift wrapping. The brand was able to leverage Shopify Plus Certified apps to create a personal experience that combines robust product search, live chat with store associates, and integration with its Perks loyalty programme. Digital meets physical experiences can be created by investing in digital, such as the Woo-hoo! Mastermind Toys is a pioneer in omnichannel retailing and has created HQs, which are stores that customers can pick up their online orders.
Mastermind Toys saw quick results with Shopify Plus.
286%
Conversion rate increase
3X
Steady growth in digital sales
288%
Chat has been a great way to increase the number of customers
Mastermind Toys has a long-standing reputation for providing a personal, high-touch customer experience in-store. Shopify Plus is our foundation: A new digital ecosystem that bridges the gap between the digital and physical worlds. Shopify is more than a technology partner. They are also a thought partner.
Etsy Shopify Mastermind
As an Etsy seller, you are familiar with the limitations associated with Etsy stores.
* How can I get in touch with my customers directly?
* Why is my organic traffic declining?
* What happens if Etsy decides that I should be shut down?
* When can I start my own paid ads
* How do I create a brand that is unique?
* What’s the best way to ensure long-term success?
Perhaps you have considered moving to Shopify or another standalone website. However, this raises many questions.
SHOULD I HIRE A DESIGNER
Reputable design agencies charge between $1,000 and $5,000 for a Shopify basic setup. This does not include brand assets, marketing strategies, future website updates, or brand assets.
HOW DO I TRANSFER MY PRODUCTS TO YOU?
It is important that your product data is transferred seamlessly. Then there are the shipping profiles, payment settings, and connected apps. There is much more to learn. Many people have been stuck and confused trying to figure this out on their own.
WOULD I REGRET THIS MOVEMENT?
The biggest worry is that you will regret spending all your time, money and effort on a website. Many sellers share horror stories about their websites failing to bring in customers.
Hello there! I’m Brenda Lackman.
As an Marketing Strategist and Ecommerce Strategist I assist product-based businesses in building their brands and marketing them.
After listening to hundreds of Etsy sellers struggling to move to Shopify, it was clear to me that I had to do something.
This is a problem that Shopify users are not used to. There aren’t many store owners who invest as much passion, thought, and energy in their products as you.
The Etsy Mastermind is revolutionary. My goal is to help Etsy Sellers with 1000s of products create beautiful websites that will lead them to long-term success.
