The Right Way to do Masterminds: A Conversation with Dan Miller

You know him from his bestselling book, “48 Days To The Work You Love.” 

I’m so excited to welcome onto the show, one of my best, most respected, most revered friends in the world–Dan Miller.

For all of you who want to start your own mastermind, or join a mastermind, there’s nobody I trust more to give you advice on this subject than. 

Don’t forget to go to RayEdwards.com/398 to download this week’s free worksheet to help you apply what you learn from my discussion with Dan.

Click here to download or listen to this episode now.

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This episode is brought to you by The Copywriting Academy Live event coming up July 26th to 28th in Franklin, Tennessee.

Feature Presentation:

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Tune in to the show this week to discover…

  • (2:25) Why Dan Miller no longer calls masterminds, “masterminds.” According to him, the term has been “bastardized.”
  • (3:15) The common characteristic of everyone who seems to have the “Midas” touch. Hint: Napoleon Hill discovered this secret way back in 1935.
  • (4:40) The King Arthur secret to a powerful mastermind group. It levels the playing field and helps raise all who sit at the table to greater heights.
  • (6:35) How Benjamin Franklin turned the concept of a mastermind into the purest form of Multi-level Marketing. The ripple effects created by his 40-year mastermind group are still in motion today.
  • (7:30) The danger built into becoming a solopreneur. As freeing as it can be, a word of warning is necessary to avoid painful blind spots. 
  • (10:50) How a mastermind can be more empowering and impactful than a church. Not to speak negatively about churches, but so few help their members reach this kind of enlightened experience. 
  • (13:50) Why true masterminds are not meant to be about accumulating knowledge. Instead, they are first and foremost about this kind of crucial growth.
  • (18:50) The stone-cold killer of mastermind success. This common attribute can fester like and spread a toxic emotional disease into your mastermind if you let it.
  • (20:30) How C.S. Lewis and J.R.R. Tolkien transformed their literary works from private projects into blockbuster successes. Without their private group, Inklings, the world might never have read or seen their stories on the silver screen.
  • (23:20) How to start a mastermind. What kinds of members you want. The type you don’t want. And the specific characteristics you want them to have.
  • (31:25) How to run your mastermind. What do you do each time? How often do you meet? What’s on the agenda? 
  • (36:05) Why some big-shot authors won’t take Dan up on an invitation to speak to his private mastermind group. They don’t understand this one concept, to their cost.
  • (42:05) What to charge for your mastermind? What does a high price indicate to members? 
  • (48:35) Why keeping your secrets to yourself is a delusional formula for failure. Even if you get ripped off by a bootlegger, your choice to “pursue” or “allow” will have a massive impact on your success.
  • (54:05) How to handle people who don’t really belong but who somehow find a way inside. Dan tells a beautiful story of how he gracefully counseled a mastermind member to cancel his participation. The result of their conversation was surprising and changed both their lives for the better.

Resources:

Links mentioned on today’s show:

I’d love to hear from you. Tell me your biggest takeaway from today’s show on Twitter @rayedwards, on Instagram @rayedwards, and on Facebook too.

Today’s show was produced by Kris Edwards with show notes and worksheets by Doug Pew and Juan Lopez.

Until we meet again may you prosper in all things: health, wealth, and wisdom. Now go live your most prosperous life.

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Ray Edwards is a world-renowned copywriter and communications strategist, writing for some of the most powerful voices in leadership and business including New York Times bestselling authors Jack Canfield and Mark Victor Hansen (Chicken Soup for the Soul) and Tony Robbins. Ray is a sought-after speaker and author, hosts a popular weekly podcast, and blogs at RayEdwards.com.