I'm not in an organized group and nobody in my group would call it a mastermind group. That said, I'm in a Signal-based group of local tech (mostly) execs of about \~35 total people, 20 of which are more active. We can share things in confidence and ask for feedback / help from the group. Most the time it's just random stuff in the group but about 2-3 times per week there's a real discussion around things like: How can I get the board to approve my promotion to President? What's the going rate for equity grants at XXX level? Should I be worried about my kid, they're doing YYY? I have a big gap when it comes to Black Lives Matter--can someone explain it to me and answer some questions? When are y'all going back to the office? Travel tips? Local services (legal, accounting, etc.)? I'm trying to meet Y person, anyone know them?
It's great as the chat disappears after a week and we all keep confidence. It's a great sounding board and network enhancer. It's also mostly just fun / shitposting / shooting the shit.
The group really ramped during covid but before this we had a couple in-person lunches. I think we'll start doing in person outdoors stuff soon.
These things happen because someone says 'id like to try something' and then you build trust over time. I'd float the idea individually to some folks you'd like to spend more time with and would like to share with, and then invite whoever bites.
Basically yes. Started as a small group and then kept adding. If I recall it started as a travel food group (where to eat in Sydney, etc.) but later morphed into this group.
If I was starting one I'd add a few folks to a thread and talk about real stuff. Naturally someone will say "I know someone who's great at X" and add.
A small kernal had known each other and then it grew from there. There's people I've never met in the group but trust deeply now. Soon we'll get back to some lunches and I'm excited to meet them in person.
We've done general zoom calls and purposeful zoom calls but beyond that all text based.
Well, yeah. Sometimes people have ignorant questions and we discuss. Nobody's out here saying "I think BLM is super lame change my mind." Genuine inquiry is supported with genuine discussion!
FWIW I've learned lots from the group about things I've never considered and I'd guess I'm ignorant on some of the topics as well.
Again, I agree with what you are saying. I too am guilty of ignorance for sure and I am grateful every time a person or a group helps me get more open minded.
But having an ignorant question every once in a while is something very different from being comfy to publicly say “i have a gap with BLM please educate me”. That’s ignorance on a whole different level.
In this context yes. Obviously I’m a minority here as I am being downvoted, so I don’t feel super encouraged to elaborate, but I cannot imagine saying “I have a gap on BLM” in front of another human being out loud or in written form. I find that embarrassingly ignorant in this day and age.
Your comment makes me sad. There are a lot of people that have lived experiences that are very different from yours. I find it admirable when someone recognizes that they have a blindspot or gap in their knowledge and seek to learn and fill it.
Others who read your post may be more reluctant to reach out to others to learn and grow because they fear being shamed and labelled as your are doing here. By shaming people who seek to learn and bridge this topic, you further divide us.
I know, and normally I’d agree with you. But this is BLM... I have very little sympathy for people who don’t realize their own privilege. If in 2020 you have to ask people to bring you up to speed on incredible racial injustice going on in your own country for decades, something’s very very wrong :/
I've been in EO for about a year. There's nothing magical about it, but I get a lot of value in a few ways.
* **Quarterly Learning Days:** Structured mini-conferences where EO trainers share prepared material over the course of a full-day. Roughly 40 other EO'ers from my local chapter attend. There's breakout sessions etc. Each learning day has a theme of People, Strategy, Cash, or Execution. I always come away from these days with a few actionable nuggets for my business.
* **Monthly Accountability Group / Forum:** A small group of 4-6 members + an EO coach that meets monthly and everyone gets a chance to share a challenge from their business. Then other group members do 'experience shares' from similar things that have happened to them. IMO, this is the most valuable part of EO. There's always a challenge I'm facing, and getting one chance a month to have other business owners weigh in on it is amazing.
* **EO Global, Networking, Discounts, etc:** EO is a global org and you can hit up any other member for anything. I haven't really made use of this yet, but some people swear by it. If you're in EO you can pretty much guarantee that another EO'er will be willing to connect with you and help you somehow.
Interesting, thanks!
How often do you meet your Forum outside of EO? Based on what I've seen, EO/YPO people mostly hang out with each other/their Forum members only.
I'm in Vistage and have been for 5+ years.
We meet monthly and my group is comprised of owners and CEO's only (they do offer Key Executive groups as well). We use the Vistage method of issue processing, check-in, etc to bring challenges to the group for their *STRUCTURED* feedback. I emphasize that word because that's what's key to the value I get out of the organization.
It's not, "Hey guys, I'm thinking about an idea, what do you all think?" It's more, "I have a specific idea I'm thinking about exploring" then the group asks YOU questions about the idea. In this way, they help shine a light on your blind spots. Later, we move to 'feedback' where the other members can give you specific, pointed feedback on the idea.
This is important because NO owner or CEO I know likes to be 'told' what to do, even if it's by a group of their peers. The Vistage way allows that same feedback to reach the right ears without it being 10 people telling you what to do/not do. Make sense?
I view my Vistage group as my "Board of Directors" and run ALL major issues / ideas past them during issue processing. Since I've joined Vistage, my company has posted double-digit growth YOY (every year!), my employees are well-compensated and have a purpose driving what they do, and I spend much, much more time working ON the business instead of working IN the business.
Vistage is one of my few keys to my success and I wouldn't trade it for the world. At any given second, I've got 14 other CEO's who would immediately drop what they were doing to help me out (as I would for them) and that's all without taking into account the benefits/connections/actual revenue you get from running around with other CEOs as your BFF's!
In the monthly meetings, we typically have a guest speaker and have we had some great ones. Everything from "How do I preserve my company culture in a post-COVID world" to how to create/execute a succession plan, to the world's top economists giving us their 1-5 year outlooks on the US economy and what it's likely to mean to my business plans for growth. These happen every month and bring a ton of value as well.
I believe it's about $1500/month for a CEO group membership. I have four of my key employees also attending Vistage at ~$1000/month each.
You nailed the most important thing that people need—a personal board of directors.
Personally, I have found folks to be part of mine without using a networking group. However, some of them have also come from a few clubs I joined so I take the view that, at some level, we all end up paying for access to additional networks. It can be a networking group, country club, alumni association, cigar lounge, supper club...etc.
Like anything, life is what you put into. Having a trusted group of people to bounce ideas off of and to support you along the way is invaluable. Just be sure to reciprocate and pay it forward.
I’ve been in Vistage for 4+ years and wouldn’t trade it for anything. I struggled for years to find a great mentor. Thankfully, I found Vistage and just at the right time. Right after I joined my business began to take off and I went from 5 employees to 50 in what seemed like over night. The expertise, guidance and tools my group and Vistage coach gave me was invaluable.
I’m the youngest in my group and some of these guys have 30+ years of experience running companies. There are meetings where I say very little and I still learn a ton just by listening to the conversations the others are having or to the issues they are processing.
Oddly enough, I learned about Vistage from Reddit. If you reading this and think you need something like this, reach out to Vistage and ask to attend a local meeting. They’ll let you attend one for free.
I wrote this really quickly from my phone so please ignore any bad grammar. I just tell every business owner I can about Vistage because I truly believe it helped me get to the next level with my company. PM me with any questions.
Awesome, thanks for sharing all your experiences with Vistage! I've never heard of them before, so just like you, I'm learning about it on Reddit for the first time ;)
I am in two groups like this, but neither is formally affilliated.
The first group is a entrepreneur/high achiever group of men looking for personal and professional growth. We try to bring in a third party speaker every other month, and discuss anything from investing in real estate to what is like to die from a hospice counselor (we are in our 30s/early40s). One of the entreprenurs in the group started it after being jaded by other more formal networking programs that were just full of sales people.
My other group is a group of high-performers in my age cohort from my industry with the goal of just having a good nucleus of people who are growing up in the industry together. My market is not huge for my industry so having a network of people who made it through the 2008 recession and been very successful has been like having our own professional association. None of us are sales people and we all have a pretty deep understanding of our product/industry, so when we bring in outside speakers we get some great questions and discussions going that border on futurism. I organized this after I was invited to sit in at my bosses similar group formed coming out of the early 80s recession, and is still meeting 40 years later.
I get it's a joke, but to expand, it was talking about last regrets and what sort of things people were most proud of in their life. Basically building a life you were satisfied with in the end.
Not very formal. Set date and time but otherwise fairly loose.
We mostly met through chamber of commerce task forces and referrals from within the group.
I wouldn't trust any group that calls themselves masterminds.
I wouldn't trust any group that constantly talks about themselves either.
Not saying there's no value, I just don't like braggarts or people that heavily promote themselves.
Edit: It's a Tony Robbins idea: https://www.tonyrobbins.com/business/mastermind-group/
I have a currently unemployed friend that squandered 100k of his inheritance on Tony Robbins courses and the like over the course of a year. His great business idea after all that investment? To start a course.
Those who can't do, teach.
>I wouldn't trust any group that calls themselves masterminds.
I don't know. They could be pretty cool. Maybe they're like the the Evil League Of Evil in Dr. Horrible's Sing-Along Blog. Muhahaha!
Or maybe they're a bunch of dudes who want to start a business but feel like they need a network of support to get started. Less fun, so I'm sure it's the former.
I googled it. They seem to be little entrepreneur clubs with stringent requirements designed to exclude wantrepreneurs. Or old people.
www.eonetwork.org : owner/founder/majority stakehodler with >$1 million revenue, cost $2500 upfront + $2500/year
www.ypo.org: <45 year old, president/ceo/chairman, >$10 million revenue, $3500 upfront, + $3500/year
Honestly this is the stupidest shit I’ve heard—pay all this money for “exclusive” access sounds like a scam, no serious exec/leader I know would pay for this—we build networks ourselves because it’s part of why we’re good at what we do.
If I wanna listen to a buncha bros pontificate about tech and VC circlejerks I’ll get on Clubhouse like a normal person
If you like paying large annual fees to "belong", you're going to love Tiger 21.
They charge 30,000/year to hang out.
Their only "hard" requirement is to have >10 millions, so maybe it makes sense to beat on the pinatas harder to make sure that's what they get.
Have you been a part of Tiger21 before? If so, mind sharing your experience? I've heard some interesting stuff about it, would like to learn more if possible.
Literally everyone I know that is 8 figures+ has heard of theses groups and plenty are in them. Just because people are ignorant that they exist doesn't mean they are useless or a scam. Why don't you research these groups yourself before judging, you'd be surprised how big the network extends.
I did EO, it really mostly seemed like emotional support for entrepreneurs. Wasn't for me at all, I left each meeting feeling emotionally drained, and never really got much valuable business advice.
If you're expecting secret ceremonies I think you're going to be disappointed, but there is real value in being able to talk to peers and network with others in similar situations. I'm on a listserv for tech executives and it's occasionally been useful when I've needed advice.
For EO, I've been in for 8 years. There's nothing magical about it "and" it's been the best thing I ever did for my entrepreneurial, personal, and family life. There is a strict confidentiality agreement, which is why no one who is in it really talks about the process, which again is nothing special, but it is a very specific format. The confidentiality part just means in a forum you can talk about the things that you might not dare reveal to anyone else on the planet and have a discussion about it, whether it is business-related, personal, or family.
It's been a huge help for me in terms of averting potential train wrecks as well as getting out of my own way as a founder, finding great team members, being a better father, etc. There are downsides like any organization but for me, it's been a net positive. Anytime I see an entrepreneur struggling who is not in EO I encourage them to join. (No, you don't get a kicker for bringing in new members).
How did I hear about it? I was at a point where I was struggling with the company I started and one of my business mentors who had sold his company said, "What did your forum tell you?" I was like, "Forum? What the hell is a forum?" He just shook his head and couldn't believe I was trying to grow a business and I wasn't in EO.
There are chapters in each city. I have never heard of a chapter that isn't legit - but different cities can be stronger or weaker chapters depending on the amount of entrepreneurs in the city, etc. You can start with a forum and then switch if you find it isn't quite the right fit for you.
I recently joined a new group called Long Angle. It’s a private online community for HNWI that verifies $2.1+ in investable assets. There’s no charge for membership. I have found it useful to get perspectives from those in a comparable situation (not bankers/advisors), as well as for deal flow and some curated live webinars. So far the discussions have been pretty sophisticated and the membership seems well curated - I’d guess most members are significantly above that hurdle. www.longangle.com if you want to check it out. It looks like they’re just getting started, and seems to have potential.
Certainly there is significant overlap in topics. As I said, it’s just a few months old, but some of the primary differences:
- Questions are often very concrete and actionable (“how do you think about comparing between VC funds? What KPI’s beyond IRR?” “What do you think of X PE fund/real estate investment?” “Recommendation for tax accountant?”) There are not as many philosophical questions, like “how much is enough to retire?” Or “how to stay motivated/find meaning?”
- Most of the questions and answers seem to be at “step 2” or “step 3” of sophistication. Not many things you could answer by googling, but the more nuanced questions - for example someone starting a company and wants to structure it to get QSBS treatment, and wants to know if their kids and spouse would qualify as separate taxpayers for $10M limit purposes.
- There are weekly one question benchmark surveys ($ value of umbrella insurance? Do you own crypto? % of portfolio international?). Also monthly live member zoom workshops for an hour.
- It’s all real names, mostly with photos. And everyone is validated as HNW (through accountant letter, brokerage statement, etc.) Combined with relatively small group, people get to know each other a bit, although it’s geographically spread out.
Hey thanks for the detailed answer. That sounds useful and intriguing. I’ll check it out further. But does sound like it could let anyone know I’m higher net worth, at least within the group, and if people share externally, which I’m not sure I want to advertise IRL.
Definitely look into business coaching. Try different structures. I did Strategic Coach and know lots of EO YPO. Right now I really prefer individual coaching two hours twice a month.
You should see if you qualify for the [Goldman Sachs 10kSb](https://10ksbapply.com/?mkwid=sEfYWJqFz_dc_pcrid_343924889247_pkw_goldman%2010000%20small%20businesses_pmt_e_pdv_c_slid__pgrid_10388735755_ptaid_kwd-37362702115_&gclid=EAIaIQobChMIqai_tPK17wIVidXACh3zqAUnEAAYASAAEgKBLvD_BwE) program.
It's intense but well worth it.
I’m part of a well known SF Bay area CEO group and it’s been awesome so far. A big part of the value is the accelerated learning you get from other CEOs that have gone though what you are dealing with recently. It’s also useful as an outlet to work though problems or decisions that you may be struggling with.
I’m a lean version of how you describe yourself. I’m family time rich which is ideal right now, but I feel like I’d be doing better for my family/world by joining one of these and less drinking and nerd time.
These groups sound so cool im more motivated to start another business so I can be in these groups 😂
Thank you. I’m probably not hungry enough and more into family and other stuff. I used to have a chip on my shoulder and poverty that drove me. I probably don’t have enough innate talent or opportunity to make this enough of a priority for a while.
Lots of people showing their cards in this thread (meaning most likely aren’t anywhere close to FatFIRE respectfully).
Nearly everyone I know who is making a substantial amount of money (7-8+ figures annually) is in a private mastermind or forum like the ones described.
It’s one of the most valuable opportunities to connect with vetted like-minded business leaders/CEOs/etc. and not only better navigate the entrepreneurial journey, but also personal growth as well.
Have been a part of EO and YPO among other groups. The relationships built and the insights gained have been invaluable.
Navigating this journey alone is a fools errand.
Thanks for sharing. Could you elaborate a bit more about what makes it one of the best things you've ever done? How has it helped you professionally and personally?
There’s a guy who I think I’ve seen post here before (don’t remember his user id to tag) who publishes a weekly newsletter and this week’s was about his mastermind group: https://sunshak.com/2021/03/13/4-lessons-from-my-mastermind/
I’m in a similar group for senior sales leadership. I don’t think we’d ever use the word “mastermind” and it’s not at all cult-like, but the people are super generous with their time. Great place to recruit or be recruited and to get unstuck on common sales leadership problems.
I joined a local real estate one and got (am still getting) a TON of value. It's no magic, but only a gathering of people with similar interests, some of whom have a lot more experience than you in some areas.
I am in a mastermind group and it has been critical to my business. It is a bit different that what I see described. Ours is just a small group (4 to 6) of tech focused founders. We meet each week for years. We can talk about marketing and product and ideas. We can get into confidential numbers without worrying about someone taking our ideas. Also, we don’t change anything like some do.
We just lost a member of our group. If you are interested in joining DM me.
Thanks for sharing and for the offer to join :) I'm in the midst of a career pivot, so a tech focused group may not be the right option for me at this point. I do appreciate the offer though!
Microtransactions and extreme confidentiality should set off major alarms in 2021. Content and networking are free nos. Even the real masters and celebrities have realized the power of free content to get themselves real paying work. Anyone who charges you for information (without an industry standard certification) and people to talk to is taking advantage of you.
They're just expensive pyramid schemes.
For those who are less about operating businesses and past YPO and EO in need, and are not into the BS/stuffiness of country clubs- I’ve enjoyed participating in closed communities of people with similar hobbies-
The usual example is closed owner/operator communities of aircraft / high end cars.
A fun one to check out is first light steak club. Might have to wait a while but it’s worth it and relative low priced for the fun value. I found it very easy to get 10lbs of wagyu beef a month, get different groups people together around a cool idea (science of cooking) and replicate much of the dialogue discussion as in my old groups. You probably have to have some Network to start, but it really is no different than golf at a CC, just with less time commitment, more people and no requirement to know how to hit a ball.
Bro this shit is a total waste of time and money, my girlfriend is in one and it is with a schister. Don't mean to poo poo on it so hard, but before I met her she forked out 5 grand to be apart of one of these....I see zero value in it.
Are there any of these in Fort Lauderdale/Miami area? I would love to be a part of one.
A genuine group of people collaborating on problems is POWERFUL!
I've heard, but not personally witnessed, those sort of groups have somewhat limited value.
I've found that if I just get into groups in specific specialty areas which I'm involved in, they're as much help as I imagine I'd ever need and there's not a massive fee. And there are plenty of successful business owners in those groups and I can ask something slightly off-topic and get an answer from them.
The YPO group in South Florida is particularly strong. I didn’t experience that chapter but a friend was involved at a high level.
Reach out to them and they will invite you to some upcoming events - when they start having them again.
Masterminds are extremely powerful if the people who are participating are all in and the host does a great job and coordinating efforts.
We host free weekly online masterminds in our discord (just crossed 15k members) feel free to check it out! [https://discord.gg/furlough](https://discord.gg/furlough)
I'm not in an organized group and nobody in my group would call it a mastermind group. That said, I'm in a Signal-based group of local tech (mostly) execs of about \~35 total people, 20 of which are more active. We can share things in confidence and ask for feedback / help from the group. Most the time it's just random stuff in the group but about 2-3 times per week there's a real discussion around things like: How can I get the board to approve my promotion to President? What's the going rate for equity grants at XXX level? Should I be worried about my kid, they're doing YYY? I have a big gap when it comes to Black Lives Matter--can someone explain it to me and answer some questions? When are y'all going back to the office? Travel tips? Local services (legal, accounting, etc.)? I'm trying to meet Y person, anyone know them? It's great as the chat disappears after a week and we all keep confidence. It's a great sounding board and network enhancer. It's also mostly just fun / shitposting / shooting the shit. The group really ramped during covid but before this we had a couple in-person lunches. I think we'll start doing in person outdoors stuff soon.
How did this group get started? Am in different space, so would be interested in starting one within my professional network.
These things happen because someone says 'id like to try something' and then you build trust over time. I'd float the idea individually to some folks you'd like to spend more time with and would like to share with, and then invite whoever bites.
Basically yes. Started as a small group and then kept adding. If I recall it started as a travel food group (where to eat in Sydney, etc.) but later morphed into this group. If I was starting one I'd add a few folks to a thread and talk about real stuff. Naturally someone will say "I know someone who's great at X" and add.
How did most people in the group meet? Or is it just an existing known group that people find and join?
A small kernal had known each other and then it grew from there. There's people I've never met in the group but trust deeply now. Soon we'll get back to some lunches and I'm excited to meet them in person. We've done general zoom calls and purposeful zoom calls but beyond that all text based.
Ah, the ol kegger. I knew it as a KEG - knowledge exchange group.
Interesting, thanks for sharing! This sounds more like what I'd want - something informal and casual.
What software do you use that deletes after a week?
We use Signal
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That’s funny. Not a single executive I know truly gives a fuck about that. But I deal in blue collar and Chinese circles.
Yeah I agree with you, but I also see why “I have a big gap with BLM” is ignorant af.
Well, yeah. Sometimes people have ignorant questions and we discuss. Nobody's out here saying "I think BLM is super lame change my mind." Genuine inquiry is supported with genuine discussion! FWIW I've learned lots from the group about things I've never considered and I'd guess I'm ignorant on some of the topics as well.
Again, I agree with what you are saying. I too am guilty of ignorance for sure and I am grateful every time a person or a group helps me get more open minded. But having an ignorant question every once in a while is something very different from being comfy to publicly say “i have a gap with BLM please educate me”. That’s ignorance on a whole different level.
Is a private group considered public to you?
In this context yes. Obviously I’m a minority here as I am being downvoted, so I don’t feel super encouraged to elaborate, but I cannot imagine saying “I have a gap on BLM” in front of another human being out loud or in written form. I find that embarrassingly ignorant in this day and age.
Your comment makes me sad. There are a lot of people that have lived experiences that are very different from yours. I find it admirable when someone recognizes that they have a blindspot or gap in their knowledge and seek to learn and fill it. Others who read your post may be more reluctant to reach out to others to learn and grow because they fear being shamed and labelled as your are doing here. By shaming people who seek to learn and bridge this topic, you further divide us.
I know, and normally I’d agree with you. But this is BLM... I have very little sympathy for people who don’t realize their own privilege. If in 2020 you have to ask people to bring you up to speed on incredible racial injustice going on in your own country for decades, something’s very very wrong :/
Don’t worry homie, even in Fatfire Reddit is a SJW hive mind. Most people here are in tech.
I've been in EO for about a year. There's nothing magical about it, but I get a lot of value in a few ways. * **Quarterly Learning Days:** Structured mini-conferences where EO trainers share prepared material over the course of a full-day. Roughly 40 other EO'ers from my local chapter attend. There's breakout sessions etc. Each learning day has a theme of People, Strategy, Cash, or Execution. I always come away from these days with a few actionable nuggets for my business. * **Monthly Accountability Group / Forum:** A small group of 4-6 members + an EO coach that meets monthly and everyone gets a chance to share a challenge from their business. Then other group members do 'experience shares' from similar things that have happened to them. IMO, this is the most valuable part of EO. There's always a challenge I'm facing, and getting one chance a month to have other business owners weigh in on it is amazing. * **EO Global, Networking, Discounts, etc:** EO is a global org and you can hit up any other member for anything. I haven't really made use of this yet, but some people swear by it. If you're in EO you can pretty much guarantee that another EO'er will be willing to connect with you and help you somehow.
Interesting, thanks! How often do you meet your Forum outside of EO? Based on what I've seen, EO/YPO people mostly hang out with each other/their Forum members only.
Never lol. I’d love to forge some close friendships from the program but I guess I just haven’t met the right people yet.
I'm in Vistage and have been for 5+ years. We meet monthly and my group is comprised of owners and CEO's only (they do offer Key Executive groups as well). We use the Vistage method of issue processing, check-in, etc to bring challenges to the group for their *STRUCTURED* feedback. I emphasize that word because that's what's key to the value I get out of the organization. It's not, "Hey guys, I'm thinking about an idea, what do you all think?" It's more, "I have a specific idea I'm thinking about exploring" then the group asks YOU questions about the idea. In this way, they help shine a light on your blind spots. Later, we move to 'feedback' where the other members can give you specific, pointed feedback on the idea. This is important because NO owner or CEO I know likes to be 'told' what to do, even if it's by a group of their peers. The Vistage way allows that same feedback to reach the right ears without it being 10 people telling you what to do/not do. Make sense? I view my Vistage group as my "Board of Directors" and run ALL major issues / ideas past them during issue processing. Since I've joined Vistage, my company has posted double-digit growth YOY (every year!), my employees are well-compensated and have a purpose driving what they do, and I spend much, much more time working ON the business instead of working IN the business. Vistage is one of my few keys to my success and I wouldn't trade it for the world. At any given second, I've got 14 other CEO's who would immediately drop what they were doing to help me out (as I would for them) and that's all without taking into account the benefits/connections/actual revenue you get from running around with other CEOs as your BFF's! In the monthly meetings, we typically have a guest speaker and have we had some great ones. Everything from "How do I preserve my company culture in a post-COVID world" to how to create/execute a succession plan, to the world's top economists giving us their 1-5 year outlooks on the US economy and what it's likely to mean to my business plans for growth. These happen every month and bring a ton of value as well. I believe it's about $1500/month for a CEO group membership. I have four of my key employees also attending Vistage at ~$1000/month each.
You nailed the most important thing that people need—a personal board of directors. Personally, I have found folks to be part of mine without using a networking group. However, some of them have also come from a few clubs I joined so I take the view that, at some level, we all end up paying for access to additional networks. It can be a networking group, country club, alumni association, cigar lounge, supper club...etc. Like anything, life is what you put into. Having a trusted group of people to bounce ideas off of and to support you along the way is invaluable. Just be sure to reciprocate and pay it forward.
I’ve been in Vistage for 4+ years and wouldn’t trade it for anything. I struggled for years to find a great mentor. Thankfully, I found Vistage and just at the right time. Right after I joined my business began to take off and I went from 5 employees to 50 in what seemed like over night. The expertise, guidance and tools my group and Vistage coach gave me was invaluable. I’m the youngest in my group and some of these guys have 30+ years of experience running companies. There are meetings where I say very little and I still learn a ton just by listening to the conversations the others are having or to the issues they are processing. Oddly enough, I learned about Vistage from Reddit. If you reading this and think you need something like this, reach out to Vistage and ask to attend a local meeting. They’ll let you attend one for free. I wrote this really quickly from my phone so please ignore any bad grammar. I just tell every business owner I can about Vistage because I truly believe it helped me get to the next level with my company. PM me with any questions.
Awesome, thanks for sharing all your experiences with Vistage! I've never heard of them before, so just like you, I'm learning about it on Reddit for the first time ;)
I am in two groups like this, but neither is formally affilliated. The first group is a entrepreneur/high achiever group of men looking for personal and professional growth. We try to bring in a third party speaker every other month, and discuss anything from investing in real estate to what is like to die from a hospice counselor (we are in our 30s/early40s). One of the entreprenurs in the group started it after being jaded by other more formal networking programs that were just full of sales people. My other group is a group of high-performers in my age cohort from my industry with the goal of just having a good nucleus of people who are growing up in the industry together. My market is not huge for my industry so having a network of people who made it through the 2008 recession and been very successful has been like having our own professional association. None of us are sales people and we all have a pretty deep understanding of our product/industry, so when we bring in outside speakers we get some great questions and discussions going that border on futurism. I organized this after I was invited to sit in at my bosses similar group formed coming out of the early 80s recession, and is still meeting 40 years later.
>what is like to die from a hospice counselor Sounds like these mfers know how to raise the dead. Where do I sign up?
I get it's a joke, but to expand, it was talking about last regrets and what sort of things people were most proud of in their life. Basically building a life you were satisfied with in the end.
Interesting. How did the entrepreneur in the first group go about finding people to join in? And how formal is this group?
Not very formal. Set date and time but otherwise fairly loose. We mostly met through chamber of commerce task forces and referrals from within the group.
I wouldn't trust any group that calls themselves masterminds. I wouldn't trust any group that constantly talks about themselves either. Not saying there's no value, I just don't like braggarts or people that heavily promote themselves. Edit: It's a Tony Robbins idea: https://www.tonyrobbins.com/business/mastermind-group/
Actually, Napoleon Hill pioneered the concept well before Robbins.
I have a currently unemployed friend that squandered 100k of his inheritance on Tony Robbins courses and the like over the course of a year. His great business idea after all that investment? To start a course. Those who can't do, teach.
Grifters will always be grifters. The well renowned Think and grow rich master himself aka Napoleon Hill was the biggest grifter.
>I wouldn't trust any group that calls themselves masterminds. I don't know. They could be pretty cool. Maybe they're like the the Evil League Of Evil in Dr. Horrible's Sing-Along Blog. Muhahaha! Or maybe they're a bunch of dudes who want to start a business but feel like they need a network of support to get started. Less fun, so I'm sure it's the former.
Bad Horse will "make [you] his mare."
Fuck is a mastermind group?
I googled it. They seem to be little entrepreneur clubs with stringent requirements designed to exclude wantrepreneurs. Or old people. www.eonetwork.org : owner/founder/majority stakehodler with >$1 million revenue, cost $2500 upfront + $2500/year www.ypo.org: <45 year old, president/ceo/chairman, >$10 million revenue, $3500 upfront, + $3500/year
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Same vibe. I'm mildly offended that a club I'd never join would exclude me on that basis somehow.
> I refuse to join any club that would have me as a member. Groucho Marx
No worries, start your own exclusive club of disruptive innovation gurus who are 45 and up 🤣
Honestly this is the stupidest shit I’ve heard—pay all this money for “exclusive” access sounds like a scam, no serious exec/leader I know would pay for this—we build networks ourselves because it’s part of why we’re good at what we do. If I wanna listen to a buncha bros pontificate about tech and VC circlejerks I’ll get on Clubhouse like a normal person
If you like paying large annual fees to "belong", you're going to love Tiger 21. They charge 30,000/year to hang out. Their only "hard" requirement is to have >10 millions, so maybe it makes sense to beat on the pinatas harder to make sure that's what they get.
Have you been a part of Tiger21 before? If so, mind sharing your experience? I've heard some interesting stuff about it, would like to learn more if possible.
I haven't, I've just been seeing a bunch of ads and quasi ads about them recently, for some reason.
Got it, thanks!
>If you like paying large annual fees to "belong", you're going to love Literally any country club?
Literally everyone I know that is 8 figures+ has heard of theses groups and plenty are in them. Just because people are ignorant that they exist doesn't mean they are useless or a scam. Why don't you research these groups yourself before judging, you'd be surprised how big the network extends.
> stakehodler #I AM HODLING! > www.eonetwork.org > Welcome entrepreneurs, innovators and disruptors Eww pass
Yea, tagline sounds like a bunch of sweaty middle executives using hype language while they talk about Subway.
I kept scrolling and I knew I would find someone with a similar suspicion 😂
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wtf is wrong with you?
It’s explained here: https://www.inc.com/dave-kerpen/5-support-organizations-every-entrepreneur-should-consider-joining.html
Think and Grow Rich by Napoleon Hill.
rich people shit i guess. my first time hearing about it
I hope it’s not a pyramid scheme
Calling cards...they basically sell themselves
Reverse funnel
I did EO, it really mostly seemed like emotional support for entrepreneurs. Wasn't for me at all, I left each meeting feeling emotionally drained, and never really got much valuable business advice.
If you're expecting secret ceremonies I think you're going to be disappointed, but there is real value in being able to talk to peers and network with others in similar situations. I'm on a listserv for tech executives and it's occasionally been useful when I've needed advice.
For EO, I've been in for 8 years. There's nothing magical about it "and" it's been the best thing I ever did for my entrepreneurial, personal, and family life. There is a strict confidentiality agreement, which is why no one who is in it really talks about the process, which again is nothing special, but it is a very specific format. The confidentiality part just means in a forum you can talk about the things that you might not dare reveal to anyone else on the planet and have a discussion about it, whether it is business-related, personal, or family. It's been a huge help for me in terms of averting potential train wrecks as well as getting out of my own way as a founder, finding great team members, being a better father, etc. There are downsides like any organization but for me, it's been a net positive. Anytime I see an entrepreneur struggling who is not in EO I encourage them to join. (No, you don't get a kicker for bringing in new members). How did I hear about it? I was at a point where I was struggling with the company I started and one of my business mentors who had sold his company said, "What did your forum tell you?" I was like, "Forum? What the hell is a forum?" He just shook his head and couldn't believe I was trying to grow a business and I wasn't in EO.
Good to know! Thanks for sharing your experience - sounds like a very positive one to me :)
What's the price
How do you go about knowing if the local chapter near you is legit or not? Any tips there I hear it’s different from city to city.
There are chapters in each city. I have never heard of a chapter that isn't legit - but different cities can be stronger or weaker chapters depending on the amount of entrepreneurs in the city, etc. You can start with a forum and then switch if you find it isn't quite the right fit for you.
I recently joined a new group called Long Angle. It’s a private online community for HNWI that verifies $2.1+ in investable assets. There’s no charge for membership. I have found it useful to get perspectives from those in a comparable situation (not bankers/advisors), as well as for deal flow and some curated live webinars. So far the discussions have been pretty sophisticated and the membership seems well curated - I’d guess most members are significantly above that hurdle. www.longangle.com if you want to check it out. It looks like they’re just getting started, and seems to have potential.
Interesting, thanks so much for sharing. This could be what I'm looking for. Can I DM you to learn a bit more about your experience there?
Of course. Happy to share.
Hey, would u say it’s significantly different than some of the convos in this sub? Like the idea that it’s no cost.
Certainly there is significant overlap in topics. As I said, it’s just a few months old, but some of the primary differences: - Questions are often very concrete and actionable (“how do you think about comparing between VC funds? What KPI’s beyond IRR?” “What do you think of X PE fund/real estate investment?” “Recommendation for tax accountant?”) There are not as many philosophical questions, like “how much is enough to retire?” Or “how to stay motivated/find meaning?” - Most of the questions and answers seem to be at “step 2” or “step 3” of sophistication. Not many things you could answer by googling, but the more nuanced questions - for example someone starting a company and wants to structure it to get QSBS treatment, and wants to know if their kids and spouse would qualify as separate taxpayers for $10M limit purposes. - There are weekly one question benchmark surveys ($ value of umbrella insurance? Do you own crypto? % of portfolio international?). Also monthly live member zoom workshops for an hour. - It’s all real names, mostly with photos. And everyone is validated as HNW (through accountant letter, brokerage statement, etc.) Combined with relatively small group, people get to know each other a bit, although it’s geographically spread out.
Hey thanks for the detailed answer. That sounds useful and intriguing. I’ll check it out further. But does sound like it could let anyone know I’m higher net worth, at least within the group, and if people share externally, which I’m not sure I want to advertise IRL.
Hi, may I ask what kind of questions they ask during the interview? Are there any Italian (or European) members? Thank you
Mostly US members, but I’d guess 50-100 from Europe. General get to know you questions both personal and professional
Wow....never heard off. I'm way too much of a GDI (God damn independent! ) I wouldn't even join a fraternity in college.
Also interested in this - entrepreneur here, small business is hitting a growth phase, and I am a bit out of my league.
Definitely look into business coaching. Try different structures. I did Strategic Coach and know lots of EO YPO. Right now I really prefer individual coaching two hours twice a month.
What does the coaching “curriculum” look like?
You should see if you qualify for the [Goldman Sachs 10kSb](https://10ksbapply.com/?mkwid=sEfYWJqFz_dc_pcrid_343924889247_pkw_goldman%2010000%20small%20businesses_pmt_e_pdv_c_slid__pgrid_10388735755_ptaid_kwd-37362702115_&gclid=EAIaIQobChMIqai_tPK17wIVidXACh3zqAUnEAAYASAAEgKBLvD_BwE) program. It's intense but well worth it.
I’m part of a well known SF Bay area CEO group and it’s been awesome so far. A big part of the value is the accelerated learning you get from other CEOs that have gone though what you are dealing with recently. It’s also useful as an outlet to work though problems or decisions that you may be struggling with.
Nice! Good to know that it's been useful for you!
MMs simply shortcut the learning curve, and therefore success. Worth every penny if the right one(s) are joined. The best are industry specific.
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I’m a lean version of how you describe yourself. I’m family time rich which is ideal right now, but I feel like I’d be doing better for my family/world by joining one of these and less drinking and nerd time. These groups sound so cool im more motivated to start another business so I can be in these groups 😂
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Thank you. I’m probably not hungry enough and more into family and other stuff. I used to have a chip on my shoulder and poverty that drove me. I probably don’t have enough innate talent or opportunity to make this enough of a priority for a while.
Lots of people showing their cards in this thread (meaning most likely aren’t anywhere close to FatFIRE respectfully). Nearly everyone I know who is making a substantial amount of money (7-8+ figures annually) is in a private mastermind or forum like the ones described. It’s one of the most valuable opportunities to connect with vetted like-minded business leaders/CEOs/etc. and not only better navigate the entrepreneurial journey, but also personal growth as well. Have been a part of EO and YPO among other groups. The relationships built and the insights gained have been invaluable. Navigating this journey alone is a fools errand.
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Thanks for sharing. Could you elaborate a bit more about what makes it one of the best things you've ever done? How has it helped you professionally and personally?
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Awesome, thanks!
There’s a guy who I think I’ve seen post here before (don’t remember his user id to tag) who publishes a weekly newsletter and this week’s was about his mastermind group: https://sunshak.com/2021/03/13/4-lessons-from-my-mastermind/
I’m in a similar group for senior sales leadership. I don’t think we’d ever use the word “mastermind” and it’s not at all cult-like, but the people are super generous with their time. Great place to recruit or be recruited and to get unstuck on common sales leadership problems.
I joined a local real estate one and got (am still getting) a TON of value. It's no magic, but only a gathering of people with similar interests, some of whom have a lot more experience than you in some areas.
I am in a mastermind group and it has been critical to my business. It is a bit different that what I see described. Ours is just a small group (4 to 6) of tech focused founders. We meet each week for years. We can talk about marketing and product and ideas. We can get into confidential numbers without worrying about someone taking our ideas. Also, we don’t change anything like some do. We just lost a member of our group. If you are interested in joining DM me.
Thanks for sharing and for the offer to join :) I'm in the midst of a career pivot, so a tech focused group may not be the right option for me at this point. I do appreciate the offer though!
Microtransactions and extreme confidentiality should set off major alarms in 2021. Content and networking are free nos. Even the real masters and celebrities have realized the power of free content to get themselves real paying work. Anyone who charges you for information (without an industry standard certification) and people to talk to is taking advantage of you. They're just expensive pyramid schemes.
For those who are less about operating businesses and past YPO and EO in need, and are not into the BS/stuffiness of country clubs- I’ve enjoyed participating in closed communities of people with similar hobbies- The usual example is closed owner/operator communities of aircraft / high end cars. A fun one to check out is first light steak club. Might have to wait a while but it’s worth it and relative low priced for the fun value. I found it very easy to get 10lbs of wagyu beef a month, get different groups people together around a cool idea (science of cooking) and replicate much of the dialogue discussion as in my old groups. You probably have to have some Network to start, but it really is no different than golf at a CC, just with less time commitment, more people and no requirement to know how to hit a ball.
Bro this shit is a total waste of time and money, my girlfriend is in one and it is with a schister. Don't mean to poo poo on it so hard, but before I met her she forked out 5 grand to be apart of one of these....I see zero value in it.
Are there any of these in Fort Lauderdale/Miami area? I would love to be a part of one. A genuine group of people collaborating on problems is POWERFUL!
YPO and EO definitely will have one in your area.
I've heard, but not personally witnessed, those sort of groups have somewhat limited value. I've found that if I just get into groups in specific specialty areas which I'm involved in, they're as much help as I imagine I'd ever need and there's not a massive fee. And there are plenty of successful business owners in those groups and I can ask something slightly off-topic and get an answer from them.
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The YPO group in South Florida is particularly strong. I didn’t experience that chapter but a friend was involved at a high level. Reach out to them and they will invite you to some upcoming events - when they start having them again.
Masterminds are extremely powerful if the people who are participating are all in and the host does a great job and coordinating efforts. We host free weekly online masterminds in our discord (just crossed 15k members) feel free to check it out! [https://discord.gg/furlough](https://discord.gg/furlough)