BBE Weekly: Levelling Up with the Power of Networking
The quest for growth isn’t just about acquiring more resources or competing harder, it’s about leveraging smarter strategies and creating relationships that propel you to new heights.
In this episode of BBE Weekly, Adam Stott dives into the transformative power of Masterminds for entrepreneurs aiming to scale their businesses. Adam sheds light on his experience at the Titan Mastermind, a collective of seven and eight-figure business owners led by John Penberthy.
Adam discusses the significant takeaways from his 18-month involvement with Titan Mastermind, emphasizing the long-term value and return on investment gained through education and network building.
Show Highlights:
- Understanding Masterminds: True masterminds differ from coaching programs in that they focus on peer-to-peer learning with no single authority figure dominating the discussion, fostering an environment of equality and collaboration among high-achieving members.
- Value Beyond Revenue: When investing in a mastermind or coaching, consider the broader decade-long benefits, not just immediate financial growth. Enhanced knowledge and relationship capital can lead to sustained business success.
- Relationship Capital: Masterminds provide an excellent platform for forming partnerships, joint ventures, and friendships, which can significantly impact your business’s trajectory.
- Return on Time Invested (ROTI): Attending masterminds and investing in education can save vast amounts of time through strategic insights and shared experiences, ultimately leading to increased efficiency and performance.
- Ego-Free Environment: A successful mastermind thrives on openness and the absence of egos, where participants contribute value while also learning from others without competition or judgment.
Links Mentioned:
Get your Business Growth Secrets SUCCESS PLANNER for FREE and profit like a pro: https://adamstottplanner.com/free-book47315172
Adam’s website: https://adamstott.com/?el=Pod
Watch the Episode on Adam’s YouTube Channel: https://www.youtube.com/adamstottcoach?el=Pod
Connect with Adam on Instagram: https://www.instagram.com/adamstottcoach/?el=Pod
Join Adam’s network on LinkedIn: https://www.linkedin.com/in/adam-stott-coach/?el=Pod
Coaches, consultants, and business owners – lower your marketing costs, increase ticket prices, and get more high-ticket clients: https://3daybrandbuilderworkshop.com/start-here?el=Pod
Transcript:
Please note this is a verbatim transcription from the original audio and therefore may include some minor grammatical errors.
[00:00:00] Adam Stott: What does it look like on the inside of a 10, 000 four day hot seating event? That is what we’re going to talk about on today’s episode of Business Grows Secrets. I’m going to talk about the event that we’ve just finished up. Which was insane how much progress someone can make over the course of four days.
[00:00:29] We’re going to break that down. It’s going to be pretty awesome. So I’ve literally just returned back from Wales, um, where I held the Adam’s house event. So Adam being me and the house actually wasn’t my house but it was a house that we rented out in the valleys of Wales to take our clients to and the reason it’s called Adam’s house is it’s very small, it’s very intimate, it is limited in the size of people that are at the actual event and what it allows us to do is to get really deep underneath the hood of an individual’s business over the course of a full Thanks.
[00:01:11] And we had some insane transformations, literally, you know, people achieved more in four days. And some of them were saying, you know, not in my own words, in their words, they achieved more than four days and were more clear, had better outcome and vision for what they’re going to do in four days than they have in the last decade.
[00:01:31] Literally the transformations were that insane. So of course the question becomes, how do we do it? And that’s what I’m going to break down in, in this, um, in this podcast. So, you know, if you’re listening along, uh, hopefully you’re going to enjoy this. We’re going to talk about what was it like, what were the challenges like, you know, where can you learn?
[00:01:51] And it should be really, really educational for, for your business. So, because you’re not able to come to something like this, you’ve got to self audit. Yourself. So what do we do now? Essentially, it’s what’s called a hot seating event. So this is where I take 15 business owners. I put them into the hot seat.
[00:02:10] If you can picture it and imagine it, we are in a huge 13, 14 bedroom home. mansion in the Valley of Wales. We’ve got huge indoor swimming pool cave. And if you want to go and check out this on my Instagram, you can go and look on Instagram. You can see some clips and stuff. And we’ve just got this, this beautiful location.
[00:02:31] It’s completely quiet, serene, no noise nestled. in nature and we’ve got this private chefs there cooking meals for us every single day. We’ve got live entertainment in the evenings. We had casino night, evening casino. We had live singer. I actually saw this live singer, Gina. When I was on a cruise with my other half, Sasha, and we were cruising around the world in July, and I saw this singer on the cruise, I this woman is phenomenal, we’ve got to get her.
[00:03:03] So we somehow managed to, uh, to get her to come to, to the Addams House event, and she sung for everyone, we had lots and lots and lots of fun, so that was all really cool. But the practical education part of it is we got every individual business, we’re there for four or five days, and we did hot seats with everyone.
[00:03:22] So on day one, we brought everyone into the hot seat. So everybody is watching, um, listening. These are all business owners. You have to be a business owner, have to have a good business that you’re looking to, to grow. So the quality of the room, really good, good people, really good businesses in the room.
[00:03:41] And then we go step one. So this is what the steps are. If you’re analyzing your business, very simple to build a great business. Too many business owners are very much in the weeds. They’re very much in the day to day. They’re working in the business, not on it. Concepts, which was made popular by the emiff or popularized by the emiff.
[00:04:03] I think the concept has been there for hundreds of years is so true. And essentially what does it take? Well, you’ve got to look at the bigger. picture. The bigger picture of your business is simple. Your business has a foundation. So the foundations of your business are the business model foundation of, of what it is that you’re actually doing.
[00:04:22] Now, the way that many people get this wrong, but it’s actually six simple steps to understand how to get the foundations, right? This includes understanding what the target market is a step one, understanding what you’re going to offer that target market was step two, understanding where to find. That target market so you can deliver your your message to them.
[00:04:43] So step three is where and then step four is how. So how are you going to message them? How are you going to create influence? Step five is which. So which sales process we’re going to use to convert them? And then step six is how many conversations do we need to have in order to generate the revenue that you want to generate?
[00:04:59] So those six steps are like the baseline of your plan, your one page business plan. I’ve been teaching our clients in business circle and many other programs for many, many years. These steps, very easy to start a business, very simple to start a business. Anybody can do it when you follow these, these steps and you do the appropriate work on, on getting those elements, right.
[00:05:20] And then to get to the next stage, which you grow a business, what we need to do next is. We need to have a brand. So we call this the halo effect. So day one at Adam’s house, what did I do? I brought everyone up and it helped them to build out their brand. And we did this for 15, 16 business owners. I looked at how they are positioning themselves in the market, how they are thought of in the market.
[00:05:45] And we went deep on to getting them to understand how to position themselves better so they can charge more, get better quality clients, get more premium clients. We worked on that branding with them. In some instances, we completely rebranded the businesses in the room. Some businesses started off with one brand.
[00:06:07] And then by the time we’d unpacked it and I said, well, look, this is the thing. This is how people are seeing you. This is how people respond to you. Um, and this is why you’re getting this result. And this is why this is happening. And then we just re engineered and recreate their brand in front of their eyes.
[00:06:20] In other instances, I would need to take an existing brand and I would have to look to get them to position themselves slightly differently. And then I in order to be able to position themselves at the higher end of the market for more premium clients, et cetera. We built all that out. You know, businesses that were a bit further along, they’ve got good positioning, they’ve got good case studies, they’ve got good testimonials, they’ve got good clients.
[00:06:41] Then we start to look at how we’re going to position you in the media, how we’re going to position you as an expert, how we’re going to position you as an authority. So we did all that day one. So what can you learn listening as a fly on the wall to this podcast? The first thing you can learn is one, you’ve got to get your foundations right.
[00:06:58] Two, you’ve got to look at your brand, your brand positioning. When we’ve got our foundations right and our brand positioning right, which means we’re positioned correctly and we know exactly what we’re doing. We’ve got a plan of how we’re going to build a business. The next step is really simple. We need to start driving people towards your business.
[00:07:16] We need to get you inquiries. So this is what we did is after we’d done the brand on the next day, I literally built out everyone’s, we call it top of funnel. So like literally their inquiry flow. So everyone’s really clear on how they’re going to inquiries, whether they’re getting their inquiries through Facebook, whether they’re getting inquiries through Instagram, whether they’re getting their inquiries through Google, and then showing them how to scale that inquiry level.
[00:07:37] So instead of getting 10 or 20 a week, how do they get a hundred a week? If they’re getting a hundred, how do they get a thousand? And they get a thousand, how do they get 10, 000? So like literally showing them the scale with inquiry levels. Yeah. Breaking that down, looking at their ads, looking at their funnels, looking at their websites, looking at their messaging and like completely re engineered all of the messaging.
[00:07:57] And the next day we looked at their sales process for their business model. And then finally we looked at their hub, which is their operations. So we looked at the people, the processes, the systems, and like literally people walked in. Having a business and walked out having a very different business and very different, more organized, more structured, more clear, um, every single part of their customer journey thought out and it was just, it was an incredible experience and some of the feedback that we, we got from that.
[00:08:32] Particular particular event was not only do we have loads of fun talking less about fun stuff, because we had, of course, lots of pool coaching, lots of one to one coaching, lots of, you know, cool chats. But the feedback that we got was that it was a complete transformation. This is one piece of feedback we got.
[00:08:50] I won’t say a name because I haven’t cleared them to say it, but I’ll say the feedback. Um, it was a fantastic experience. It was intense. It was an emotional roller coaster that created a transformation for me. I think my emotions were building, and at the end, I just came to a massive self awareness point that I’m so grateful to Adam for.
[00:09:10] I’ve taken it on board, and the main thing for me is exactly how I simplify things in many different ways. I’ve also made a decision to put less pressure on myself moving forward, because now I understand exactly what I’m doing. Oh, this is the type of feedback we were getting in, which is just awesome.
[00:09:26] So I loved it. Um, from a behind the scenes perspective, it was intense. You know, we were going, um, we’re getting up at, we’re getting there for the start of the day at eight and we’re not finishing until midnight the team and my team were just. amazing, you know, they were really incredible. They worked really hard.
[00:09:46] Um, because, you know, it looks like a retreat on the outside, but it is a, you know, it’s a 15, 16 hour work day, you know, four or five days in a row. I’m already also really grateful to Sarah Willingham who came in, who’s mentored me for a number of years. And she came and she, This is a really great experience for our clients because they get a dragon from Dragon’s Den, like literally coaching them in the living room, you know, answering their questions, telling them what to do.
[00:10:13] And, you know, she’s just elite level, which is, um, really, really cool. Um, so, yeah, it was, it was, it was an amazing experience. It was, it was so good. And I think if you like accelerated learning, when you look at different types of learning, you know, you’ve got, we have programs where people learn over a year.
[00:10:32] Um, And it’s step by step, moment by moment, support every step of the way. Then when you’ve got this intense experience, it’s like we are literally driving pure transformation through four or five days. And as it said in that, that I just read out, it can be emotional. And actually it was fun for me. I mean, like my actual take on it is I loved it.
[00:10:52] I, you know, the reason I got into this business in the first place is I love taking complex structures and actually simplifying them and getting people to be able to understand how do they make the right moves to build the result they want to make. And, you know, and, and getting them to focus on that framework.
[00:11:09] I think that from this podcast, hopefully you’ve enjoyed listening along and it gives you a good insight. Like I said, you can see the visuals, um, of this on, on Instagram, on Adams thought coach, you can go and have a look at what did the house look like? You know how you can go and look at the smiles on, on the faces of, of everyone was there.
[00:11:29] You can go and see some of the feedback. There’s lots of different posts there, uh, which are, which, which are really, really cool. But I think the, the education from the podcast specifically is get your foundations right. build your brand, get your top of funnel moving forward, get a sales process that converts and manage your systems processes and operations.
[00:11:50] And if you look at the big picture and you don’t get lost in the day to day, you can take your business all the way forward. to the top. Um, so hopefully you enjoyed today’s episode. I wanted to give you an insight into Adam’s house, what it was like, um, you know, and, and really hopefully one day you’ll be able to come and participate and, and be one of the businesses in that chair.
[00:12:12] Getting that accelerated learning experience. And, and if you fancy that, then you can drop me a message on Instagram. Uh, we do have some dates next year. A lot of these are going quickly, but we do have some dates and things next year, which are pretty cool. And, uh, yeah, it could be me analyzing every step of the way in your business, which would be really cool.
[00:12:31] And in the meantime, take actions on those and hopefully enjoy today’s episode. If you did enjoy the episode. Instagram to have a look, drop me a message, let me know. And, uh, I look forward to hearing about your results very, very soon.