Amazon Masterminds – Are They Worth It?

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Paul Harvey joins to discuss Amazon Masterminds, the big ones, the key to setting one up and keeping it going.

What is a Mastermind?

Horrible pretentious term but no replacement for it
Bias: Danny is in a Mastermind that he setup in the UK which is not paid for
There are upgrade ticket sales to attend some public speaking mastermind sessions that Danny is in
You can stretch a mastermind to 2-3 days etc,
Or you can do speed-date tables where the Big Sellers can move around tables to share with lots of people all at once on a more intimate basis

Paul is in the group with Danny
Paul has paid for Masterminds in the past
100% of the reason for Paul’s success is down to Masterminds
The best ones are the ones you setup
It’s the networking in the Mastermind that you go to and groups and connections after that is so important
First one for Paul was on ASM1 and when ASM2 came up he thought he needed to up his game and so setup his own Mastermind group
The people in the group are all 6 and 7 figure sellers
Paul made sure that every two weeks they got on a call on Skype

Danny setup his group as a physical meeting as the on-line stuff fizzles out
They meet in London at a venue with food
Sometimes they do hangouts
Two guys in the group pay $25k to go to the States to attend paid-for Mastermind
Danny doesn’t charge as he wants to keep the purity of the group and wants it to be people helping people

People want to be in Amazon Masterminds but are not yet to the point they need to be
Costs too much for people to pay to get into the group
Danny has rules for who can come into the Mastermind group
Needs to ensure whoever joins, people can learn from them
No good having people in the group who sell a lot but can’t work with the other members as it will damage the dynamic

The person who setup and manages the reigns of the group are so key
Most groups die-off after a year or so
It needs to keep its energy and benefit to the members
If people come in that want to learn but can’t give, then the more experienced members might get fed-up and leave
Difficult to keep the balance

Did Paul make money off his groups?
If you setup your own group – you have to be an equal and help out
Pick the attendees with different skills to ensure there is cross-polination and everyone excels
Paid Masterminds are usually around an event and so peter-off after a while after the event
Most of Paul’s day in running the mastermind group is spent helping others out
The ones you setup on your own and put the work into they are a lot more beneficial
Paul will be flying from South Africa to the UK every 2-3 months to spend with 10 of his colleagues to share and learn in a mastermind

If you have no budget you can do things
Just arrange to meetup with others at a suitable venue
If you have lots of budget then by all means consider a paid-for event
But do think about what you want and what you’re paying for
Are you going to ‘look good’ or are you really going to attend it and build connections and learn

Paul has attended £25k Masterminds
If you join one of these, what are you ofering
Spending the money does not make you successful
The relationships are the key, and if you can share tactics of your own that are worth the £25k then others there will reciprocate and your success will grow
You have to like the people that you’re joining
You have to get over the idea of ‘what’s in it for me’
Paul’s new bot software is coming out of the discussions and relationships built in Danny’s Mastermind

Some of the group have started businesses together and are collaborating
Danny had a significant problem in his Amazon business and he went out to the group and asked for support and the advice he had back was phenomenal
Having a Mastermind being able to talk through the mistakes made openly with the group saves the other members from making those mistakes – very valuable

Danger of paying, turning up and getting a sales-fest of trying to upsell you
Monthly thing or a trip to abroad
Is there an affiliate link in their ad?
How many pitches are there going to be – warning sign
Big sellers go off and do their own little Mastermind on the side – you’re paying for their trip and not benefiting from their knwoeldge
Are there Amazon Masterminds near you – helps with the networking afterwards if it’s close
These trips to Bali for only sellers doing $10m per year with only 10 seats – it’s a higher level Mastermind and very limited and that’s fine
Paul has talked about a Mastermind where people live in the House for 2 weeks and in the day you work through things and in the evening you relax

Pick your Amazon Masterminds wisely
Go for the right reason
Do the background research to avoid pitchfests and snakeoil – avoid screaming value ad long sales pages with affiliate links
Will people in the group tell you what their product is – warning signs if people are being secretive is a warning sign
If you can’t get into a group, look for another one or setup your own
Spend some of your time everyday just helping people with no strings attached – people get to know you are a good guy and doors open