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538 - My First Mastermind... (and the Funnel I Use to Sell Mine!)

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538 - My First Mastermind... (and the Funnel I Use to Sell Mine!)

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Episode Recap:

In today's episode you'll learn about the first mastermind I ever attended, and also the funnel I use to sell people into mine!

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Best Quote:

I was going back through all the old campaigns when mastermind.com first launched. I was actually at that time business partner with Tony and Dean and helping them do the initial launch...  As I was doing that, I created a whole bunch of pre-launch videos that were really cool. I went back through and watched them and the first two I thought were really fun... 'm going to share those two, the audio from those two videos, just to help you guys think about masterminding a little differently and how to sell a mastermind and hopefully it will be beneficial for you.

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Transcript:

What's up everybody. This is Russell Brunson. Welcome back to the Marketing Seekers Podcast. I'm excited. We are at a fun time of year where right now Dean and Tony are doing the next big product launch, which means whenever that happens, I get a chance to interview Dean and Tony and get a bunch of cool things from them and for you guys. We also put together an amazing bonus for when they launch their course. The next couple podcast episodes, I got some just cool marketing and personal development candy for you. Hopefully you don't mind. It's going to be a lot of fun.

The first one is actually, I was going back through all the old campaigns when mastermind.com first launched. I was actually at that time business partner with Tony and Dean and helping them do the initial launch, which was really fun and really cool.

As I was doing that, basically I created a whole bunch of pre-launch videos that were really cool. I went back through and watched them and the first two I thought were really fun. I'm going to put those two together in just one episode, and it'll be just be training on my very first mastermind ever. Then also what my mastermind funnel looks like to sell people. That'd be a really fun one for you guys to listen in on and hear. At the end of it, you'll hear me give a call to action for the new bonus, which obviously it's changed since three years ago, but the content, my first mastermind, and then also the funnel behind it hasn't changed.

That's what the steps was going to be about. I'm going to share those two, the audio from those two videos, just to help you guys think about masterminding a little differently and how to sell a mastermind and hopefully it will be beneficial for you. If it is, and you want more, Tony and Dean are launching the new course soon. I don't have all the details right now to show you, but I guarantee it'll be amazing, because come on now, it's going to be amazing.

We are also putting together an insane bonus offer for those who get it. If you want to see what my offer is, depending on when the launch is happening, may or may not be live, but it will be at takethechallenge.com. If you go to take takethechallenge.com, you have a chance to see what my bonus offer is for this new launch. Hope that helps. Thanks so much for listening in and hope you enjoy this episode.

Video #1

Hey, my name's Russell. I want to thank you so much for registering for this series. I got some really cool stuff to share with you. Number one, being what is this old book that I have right here that I found on eBay? I'm going to share with you what it is here in a second, and the big secret that I learned inside that you're going to know about.

But before I do, I want to tell you a story about how this concept actually really affected and changed my life. I want to take you back in time about almost, man, 13-14 years ago. When I was first starting my online business, the very first time, I didn't know what I was doing. I was trying to figure out all these new things. There was Google, there was friend stir, there was MySpace just coming out and I was trying to figure out how to make money online.

I started having a little bit of success. As I started having some success, I started looking for mentors and coaches to teach me. I started hiring online coaches teaching internet marketing, things like that. But what was interesting is every time I'd hire these guys, I kept hearing them talk about this guy. His name was Dan Kennedy. He was kind of an older guy who had been teaching direct response marketing.

I went to his website, which was horrible by the way, and there was nothing on there about internet marketing. I'm like, "Why would I learn from this guy?" I do remember they had one product. It was called the platinum $250,000 mastermind recordings. It was the lost recordings or something and looked like it was intriguing to me so I bought this thing.

I remember getting it in the mail a week or two later. I started listening to it. It was funny because I first listened to Kennedy, I didn't connect with him right away. I was like, "Oh," and I decided I was just, I'm not going to listen to this. This has nothing to the internet marketing. He's talking about direct mail and all these crazy things. I kind of just blew it off.

Then I remember about a month or two later, the house that I'd owned at the time, our yard flooded really, really bad flooding. I remember I called the city, they came down to look at the flood and they said, "Well the pipe's broken, but it's on the yard, not on the street side so it's kind of your deal." Like, "What does that mean? He's like, "You got to figure this out." I'm like, "I don't know how to figure this out. I'm a brand new homeowner."

I basically get our shovel and I dig down and try to find where this pipe was broken. At the time I didn't have any, this is before iTunes and podcasts and things like that, so I didn't have the ability to go and listen and stuff like that. I was like, "What should I listen to?" I went into my house and I had a CD player and I had this old course from these platinum meetings that Dan Kennedy was having.

I put him in, put my headphones on. I started digging. I spent the entire day digging out my whole front yard to try to find this broken pipe. While I was doing that, I was listening in behind the scenes of a private mastermind meeting that was happening. I remember listening to person after person, all sharing their ideas and their thoughts and their wisdom. I remember just thinking, "Man, I would've paid any amount of money to be a fly in that wall, in those meetings when they were happening." Just having a chance to listen, I learned so much from this group. I remember after that thinking, "I have to be part of this group. I have to be part of this group."

Then a day or two later I went and I went back to Dan Kennedy's website. I got his information. I was like, "I got to be part of this group." I contacted his office and said, "Well, this is his mastermind group, but it's sold out. It was a two or three year waiting list, but you can get on a list if you want." I was like, "No, you understand. I have to be in here. I'm a big player. I'm a big internet marketer. I'll be amazing here." They're like, "No, we're sold out."

I kept bugging him. I kept having my friends contact, everybody I could possibly to get in and finally, I think they got annoyed with the little kid who was kept bugging him. They're like, "Fine, here. You can join the program. Here you go." They sent me an application form and we were getting an application looking at it. I think the fee to sign up was $25,000, which was probably as much money as I'd made to that point, my internet business. I was like, "Oh my gosh, I can't believe it's that much money."

But at the same time, I was like, "I've just been talking to this big game with these guys about how good of an entrepreneur I am. I have to be there." I took out my credit card that I didn't have the money for and I ended up buying access to this mastermind meeting. I remember thinking and telling my wife, my friends, "I'm going to go to this Dan Kennedy mastermind meeting. It's going to be amazing."

Jumped in a plane. I flew all the way to Baltimore, Maryland. I got there and I walked in this room, not knowing what to expect. There's 18 people in the room counting myself and then one other person. It wasn't Dan Kennedy. I remember looking at him. I'm like, "Who's that guy?" We sat down, he started facilitating this meeting. I remember being really confused at first and he introduced himself as Bill Glazer.

Now it's funny is looking back in time, now, Bill was my main mentor for the first six years of my business through this mastermind group. He was Dan Kennedy's business partner. He ran this group and he ran it very specific, in a very certain way. I'll talk about this here in a minute. But that mastermind changed my life. I went from making probably $25,000 to have my first million dollar year, my first $10 million year and really getting the foundation of my business, but more so just my business, my life, helping me figure out things in that mastermind group to this day, some of those people are still my closest friends.

That was kind of my first experience for the mastermind group. I'll talk about in some of these videos coming up, how I facilitate my masterminds and things like that.

I want to come back to this book. This book, I'm sure you probably heard of it. Some of you probably haven't read it yet, but if you haven't, you should, but the book is called Think and Grow Rich. This is actually a first edition copy I bought off of eBay. I have an obsession with really, really old books. I buy a lot of them and this is when I bought recently because Napoleon Hill, did I say Napoleon Dynamite, Napoleon Hill. He wrote this book clear back in 1937.

What's interesting is Andrew Carnegie actually was the one. I think Andrew Carney was a billionaire at the time. He's the one that commissioned Napoleon Hill to go and write this to go interview all the most rich famous people and figure out what do they know that we don't know and they come in and let's make it into a book. He went out there and did that.

There's so many amazing principles inside this book that if you read it, I think most people today who have made tens, if not hundreds of millions dollars attribute this is one of the first books that shifted their thinking. But one of the concepts he talked about here is the concept of a mastermind. To my knowledge, this was the very first time that the concept of mastermind was ever taught was inside of this book.

It's interesting because I took some notes before we started recording this for you guys. A lot of people think masterminds are different things. I think the internet marketing world's kind of defined a mastermind. This is what it is. It's a group of people that meet together and this is kind of how it works.

But the reality is initially in Think and Grow Rich, what a mastermind was a little bit different. Inside the book it says, "No two minds ever came together without thereby creating a third invisible intangible force, which can be likened to a third mind, also known as mastermind." Basically saying is when two people get together, I have my mind, you have your mind. We come together in a room and we start sharing ideas. What happens is that the power of synergy, Tony Robbins always talks about proximity is power, when you're in that room sharing those ideas, a third mind is smarter than either of us appears and the eyes get bigger and that third mind is called the mastermind.

Anytime at least two people meet together, it creates a third and powerful mind called the mastermind. That's really what it is, is people getting together and working together. In fact, it's interesting, Andrew Carnegie attributed all of his success to his mastermind group.

In the book Think and Grow Rich, they talked about a lot of people said that Andrew Carnegie wasn't that smart of a person. I'll probably slaughter this story, but basically someone came to him and asked him all these questions and he didn't know the answer to them. They're like, "How are you the richest man in the world? You're not even that smart." He said, "Look, I may not know the answers to everything," he said, "Within my mastermind group of people, I'm one button away from getting the answer to any one of the questions you want. I don't have to know it. I send it to a group of people collectively where the mastermind intelligence among us has everything."

I remember thinking about that as I joined that first mastermind with Bill Glazer and sitting there in the room. At first I was kind of annoyed because Dan Kennedy wasn't there. I started watching this and the first person got up and the person talked about their business. They shared all the big wins that they had in their business that year. I'm listening and I'm like, "Oh my gosh," all these ideas started flooding into my head.

Then after they started asking questions and people started coaching that person. I started watching is these other millionaires were coaching this person on how to fix their business, what to change. I'm sitting there looking at this through my lens of my own business. I was getting ideas and thoughts. It just shifted the way that I thought about things.

It's amazing because the growth I had during that short period of time was second to none. That's kind what a mastermind is. We're talking a lot about this over the next few weeks, partially because as you may or may not have heard, Tony Robbins, Dean Graziosi and me have been putting together a project all about mastermind and how it works, how you can create your own masterminds, how you facilitate them and how does it work?

In fact, in my business right now, we do over eight figures a year in mastermind sales between my inner circle masterminds, some of you guys know about, which I actually run here in this room. This is my mastermind I created it specifically for my inner circle mastermind.

We also have another type of mastermind program. It's a group coaching program, between the two of you over eight figures a year. There's not many companies out there that do more than us. On top of that, you got Tony Robbins, who's been doing this stuff for longer than I've been on this earth and Dean the same thing. In fact, I joined Dean's mastermind group that's a $100,000 a year. Him and Tony are launching a new one that's $250,000 a year.

But we want to teach you guys behind the scenes of how these things work. A lot of times I think when we get in into this type of business, we want to create information products, things like that. The first default is I'm going to write a book or I'm going to create a course. Those things are good. They can be really hard. In fact, one of the most powerful things you can do instead of that is actually creating a mastermind group. It's easier to do. It's more simple and a lot of times it's more transformational for the people who have a chance to go through it.

I'm a big believer in it. I'm actually going to be showing you guys more and more how we run our masterminds, what they look like, how do we fill our masterminds, a bunch of other stuff. But at the end of this series, Tony, Dean and I are launching a new product that is coming out. I've got some insane bonuses for you that are just specific for folks who are watching these videos right here, that nobody else gets. I want to make sure you check back on this page to find out about all the bonuses.

But what I want to do right now, this is your first task should you choose to accept it, is me, Dean and Tony are going to be doing a live webcast here in the next couple days. The date and the time will be down below. There'll be a button. Just click on that button and it'll take you to a page where you can go and you can register for that. I'm actually flying down to Arizona to be in Dean's office. Tony's going to be there as well. All three of us are going to be in the room. It's going to be insane. I just want to make sure you are there. Make sure you register down below, come show up and we're going to be talking about the product, the course, the software, all the stuff is coming out in this launch, which is really, really exciting.

But make sure you don't buy yet. That's the biggest thing. I'm putting together a bonus that is insanely cool. You'll see on this page somewhere, a little hint of what it's going to be, but I have a really special offer for you guys. It's going to blow your mind. It'll take the investment you make, if you decide to make it in this training program, and it'll make it 10 times even better and cooler. That's the game plan.

That said, right now, your call to action is to click the link down below and go and register for the web class with me, Dean and Tony. It's coming up soon. It's going to be so much fun. I want to make sure you are there, so do not miss it. That's all I got, you guys. Click down below.

On the next video in the sequence and the series that's going to coming out, I'm going to show you guys how we run our mastermind funnels. What does the funnels look like that we use to actually get people into our mastermind? I'm going to show you guys behind the scenes of two different ones, how they work and how you can use them to grow your own mastermind groups as well. That said, register down below and I'll see you on the next video.

Video #2

Hey everyone. It's Russell. Welcome back to the next video in this series. Today, we'll be talking about mastermind funnels. How do you actually fill up one of your mastermind groups? That's something that's interesting when I told you guys before my story about being in Bill Glazer's mastermind group for six years. When it was done, Bill sold the company and I was decided I want to plug into a different group and see if there's more people out there I can connect with.

I started joining other mastermind groups. I joined one after the other, after the other, but I never found one that really resonated with me. I thought, "You know what? What if I just started my own?" I didn't know what that looked like, what it meant, but I started trying to do it. At first, it was really, really hard. It was like pulling teeth trying to get people to join. I tried everything I could dream up from like, doing webinars, doing tele seminars, calling people on the phone randomly messaging people through Facebook and PM me. You name it, I tried it, nothing worked.

I was like, "You know what, Russell? You're this guy who's obsessed with funnels. Why don't you figure out a funnel that'll work for this." I was like, "Okay, well is anyone else doing anything like that? I don't know how to do it." I had one prior business, I had a call center where we had man, we had about 40 or 50 sales guys on the phone calling all of our leads and selling stuff like that. I had had a little success doing that before, but I was like, I don't want to have 40 or 50 sales people again. There's got to be a better way. There's got to be an easier way to do this. What does it look like?

I went to the drawing board, started trying a whole bunch of different things. What came out of it was basically two funnels and two funnels that were so powerful. These funnels replaced literally 30 to 40 full time salespeople. The funnels did all of the scrubbing, the washing, the getting rid of the people that weren't a right fit, finding the best people and pulling them out and just getting the point where literally we built an eight figure a year coaching consulting mastermind company, which is two sales people.

We did it with these two different funnels and I'm going to show you how to work because they're really simple, really easy. Then what's cool is if you do invest in the training that Dean, Tony and I are putting together, I've got a long form video actually go deeper. I show you every single page. I give you the share funnel links, these funnels and other stuff right now that are really cool. But for right now, I just want to kind of map out what they look like.

Both these funnels are relatively simply. There's only relatively simple. There's only three pages in both of them. They're almost the same other than one key component. The first ones I call the free case study funnel. The whole concept behind this is you got to figure out what is the result you're trying to get your customer? If you've done that for other people in the past, and if you haven't yet, have you done it for yourself, if you're like, "Hey, I'm going to teach you how to lose 800 pounds in a weekend," which is a horrible claim. Don't do that. You'll go to jail. But let's just say you had yourself and you're like, "I'm going to teach you how to lose 800 pounds in a weekend," if you've done it for other people, it would be case study about their story. That's always better than your own case study. But if you don't have one that it's your own case study about how you lost 800 pounds in the weekend, but whatever that is, that's the first thing.

Then we have right here and basically this is the video of you sharing the case study. My headlines say like free case study, dot, dot and then boom, whatever the case study's about. Very simple, very easy. Then over here, you're going to have your Facebook ads and stuff like that. It's talking about, hey, here's a free case study about how I did blah. Very simple. There's no trickery or tricky copy or sneaky. It's very simple. It's like free case study about how I did blah. Ads are like, "Hey, do you want to see a free case study how I did blah. Go here." They go to the funnel, they watch this video. This page what we call a reverse squeeze page.

A typical squeeze page, someone comes to it. You give them some curiosity and give you their email address. Reverse squeeze page, they come, you give all the value up front. It's the whole video here of could be 10-15 minutes sharing a case study about how you did whatever you did. Then the end of it, the call to action is like, "If you'd like my help implementing this inside your business or your life or your whatever it is you're selling, then click down below to apply to work with me." There's a button down here that says apply. It's that simple. That's page number one, the free case study page.

So when someone clicks on ‘apply’, it pops up, from here, we ask for the name, the email address typically. This gives the ability to follow up them back here and then that redirects not a page number two. Page number two is where you have their official invitation. Here we kind of talk about more about what it looks like. If you're here to apply to work with me, here's how it works. This is your official invitation. We explain the program and some detail, not super good detailed, but nothing kind of get excited. Then with an application form right here where they have to fill out different questions.

Here is where we call this a takeaway sale. The old school I told you before I had a call center, we were calling all of our customers, trying to sell coaching. The takeaway sells different. The takeaway sale is like, "Look, I don't want to take everyone like pitch me on why I should work with you." Instead of you pitching them like, "You should work with me because I'm amazing in blah, blah, blah, blah, blah, blah," all these kind of things. Instead, you say like, "Tell me, I'm busy. I did this for myself. I've done it for other clients. I can do it for you as well, but why should I work with you? I could work with anybody. Why should I work with you?" They have to actually then pitch you on why you should work with them. It's changing the whole sales psychology, flipping it on its head. They tell you why they should work with you. You send emails here and you can send them a bunch of emails they're trying to get them to fill this out.

Then after they fill out this page right here, then you take them to what we call the homework page. The homework page has a couple really important things. Number one is there's this gap between when someone registers, someone fills the application, when you actually call them on the phone to sign them up for your coaching. There's this gap that happens in between. The homework is where I'm trying to intensify the relationship with them.

On my pages here, if you guys ever seen my video, I tell a story about my wife and I trying to get pregnant. I try to build a relationship about why I care about business and what happened, how we go fertility. I tell the whole story behind that. It makes people connect with me at a different level. I can give them homework of assignments to do, videos to watch, things like that they need to do before this phone call happens.

Then after that, then they go and there's a phone call. The way we do our phone call, I'm not going to go into details, but it's a two step. There's the first person that's called the setter. The goal of the setter is to go over application, see if they're a good fit. If they are, then it moves on to the closer who then qualifies them and gets them into the program. Usually we have two sales people to do this process. That's kind of the whole thing.

Now, one more really cool thing that we learned when we were doing this is back in the day when we had the big call center, it was structure where if we outbound called them, how much we made per application, so a dollar per application, if we were outbound calling them, it would go down. But if they were calling us, then it would go up. What we also do have a section here where try to get them to call us like, "Hey, if you want to jump the front line, here's the phone number, 566-66, whatever the number is. Give us a call. Call this person and they'll jump your application to the front. I want to find the people that are the most hyper and most excited to have them call us so we can look at their application faster. What happens is that it increases how much money you make.

Now I'm going to show you guys some basic stats. I'm nervous about sharing this because these change from industry to industry and business to business, but some basic applications, when you're looking at like Facebook ads, YouTube ad and Instagram ads, my goal is to spend less than $100 to get somebody to fill out this application here. If it's costing you $300 or $400 to get someone to fill out the application means your case state wasn't good enough, the hook wasn't good enough, whatever it was. If it's below a hundred bucks, it's like sweet, party. Give as many applications as we can.

Then on the back side here, again, you're not going to accept all the applications. You just accept the people you want to work with. But on average, we'll make about $1,500 every application we get. We spend $100 to make $1,500 so 15 extra money, which is amazing. But that's kind of how that thing all happens.

That right there is the free case study funnel. It's very powerful, very simple, very easy. If you do multiple things in your coaching program, your business or your mastermind group, you can do different case studies on different things that you can solve, different problems you can solve for people. It's always combated, like what's the big result I can get for someone. Then make a case study, show me how I got that result and that becomes a hook to get people into this whole flow. There's the case study funnel.

Now the second type of funnel is almost identical. From here on, it's identical, doesn't change. But this part right here changes a little bit and this right here. I'm going to do this and I'll arrow up here because this whole rest of the process is the same.

Instead of having a free case study, what we do is we just have a straight story or testimonial. The person right here. If you've seen my inner circle page, there's a video of Liz Benny telling her story. Her story worked with me. It's a three minute video of her telling her story. “This is what happened when I worked with Russell, it was amazing, this experience I got. If you have a chance to work them, you should work with him.” And then right there, there's an apply button. Apply and boom, pushes them to the same funnel. It's two funnels, very similar. One is here's a free case study about how I got this result for somebody, and number two is just, here's a success story. Here's something that somebody did that's awesome. It's very simple and very easy.

That's kind of it you guys. After literally probably five years of testing and tweaking and trying multiple pages, tons of pages, no pages, this kind of hook, this kind of, all sorts of stuff and all of a sudden done these two funnels and that process were the ones that work the best for us out of everything.

I hope that this video helps you see behind for all my funnel builders who geeking out in this, how do I now get people into my mastermind groups, this is the process. This is the path. This is exactly how we do it and how you can do it as well.

All right. With that said, I want to remind you guys that the big launch from masterminds coming up, and I want to also remind you that we have a very special bonus coming out. Inside this bonus, there's some really cool things. Number one, being the question that most of you guys will be asking me or thinking in your head is like, well, what does the setter say? What's the closer say? What's the difference? How does this work? Part of my special offer is going to be giving you the actual sales scripts for both of these people, as well as training to train them.

If you just have two people, you basically watch this video, read the script and that'll be part of it. This bonus and all the other stuff I'm going to tell you guys on the next video is only available right here inside of this, if you buy through my affiliate link, if you buy anywhere else, you don't get that part of the bonus. Just want to remind you of that so make sure before you buy this package to come back here, check out exactly my offers. When it goes live, it's going to be going live next day or so. All right.

The last thing I want to make sure do right now, the call to action for this video is make sure if you haven't yet registered for the web class with me, Tony and Dean's coming up very, very soon. There'll be a button down below, click on that button. It'll take you the page to register for the web class. It's going to be so much fun to hang out, so make sure you register for that.

With that said, after you register, then just wait for the next video to come out because the next video is going to show you what you get when you buy through my affiliate link. It's going to be a lot of fun and you're going to love the offer.

It's very special. It's going to give you this piece of the puzzle, which I know you're going to love and a whole bunch of other cool stuff as well. That said, thanks you guys and I will see you on the next video.

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