It’s lonely at the top. While that’s a cliché, as agency owners we all know it to be very true. On those days when you’d sell your agency for a nickel, who do you have to confide in? On the flip side – when you land the biggest account in your agency’s history, who can you call who will be as excited as you are? Surrounding yourself with people who care about your success as much as you do is critical. No one gets owning an agency more than another agency owner. And no one gets owning a business more than another business owner. How do you surround yourself with people who genuinely understand your world and are in your corner?
Mastermind groups of various forms have been around for a long time. In fact, Agency Management Institute was founded with agency owner peer groups which are, in essence, a mastermind group. There are plenty of organizations that offer formal mastermind groups but you can also form your own. Either way, it’s essential that you have peers who will be your sounding board, tell you the truth when you don’t want to hear it, and will bend over backwards to help you succeed.
In this episode of Build A Better Agency, I want to talk to you about the value of these groups, as well as outlining several ways to ensure its success, including things to look for in a mastermind, understanding the difference between formal and informal groups, meeting structures to implement, the importance of accountability, and creating a safe space for facing crisis.
A big thank you to our podcast’s presenting sponsor, White Label IQ. They’re an amazing resource for agencies who want to outsource their design, dev, or PPC work at wholesale prices. Check out their special offer (10 free hours!) for podcast listeners here.
What You Will Learn in This Episode:
- The value of a mastermind group
- Four things to look for in a mastermind
- Formal vs Informal mastermind groups
- Models for successful masterminds
- Ideal size of an informal mastermind group
- The importance of accountability
- Deal with crisis in a mastermind
- How often a mastermind should get together
“What a mastermind does for you as a business owner is it gives you other people who have some shared experiences, some different perspective on those experiences, and also have your best interest.” @DrewMcLellanCLICK TO TWEET“The first thing that matters when you’re thinking about a mastermind is to be in a mastermind with people who genuinely care about you as a human being and who care about you in terms of your business success. They are committed to you being…CLICK TO TWEET“I have often said, the best thing about being a business owner is, you’re accountable to no one. The worst part of being a business owner is, you’re accountable to no one.” @DrewMcLellanCLICK TO TWEET“There’s great comfort in knowing that you can command everyone’s attention and they are willing to give you that time and attention.” @DrewMcLellanCLICK TO TWEET“There are times when you don’t honor the exact agenda of the mastermind but, honestly, having an agenda is probably one of the most critical elements of whether or not this is going to work.” @DrewMcLellanCLICK TO TWEET“The questions they ask me help me see with a clarity that I couldn’t see if I was doing it all by myself.” @DrewMcLellanCLICK TO TWEET
Ways to contact Drew McLellan:
- Email: drew@agencymanagementinstitute.com
- LinkedIn: www.linkedin.com/in/drewmclellan
- Website: https://agencymanagementinstitute.com/
Tools & Resources: