Ep 61: How to Build a Mastermind Community with Dov Gordon

Problem: 

Dov Gordon believes that there are amazing business-owners, entrepreneurs, and innovators out there who have a lot of information and knowledge to share with others. However, their lack of showmanship might hinder them from reaching their audience. Perhaps they shine with (and enjoy) one-to-one experiences.

Not everyone wants to be a big, public-facing guru. Not everyone wants to be a content marketing machine or a Facebook Ads ninja or that type of thing. They need to know that there are some good, solid alternatives including building (what I call) an alchemy network.

The Steps to Creating an Alchemy Network

Dov shares his steps to turning your relationship-marketing (one-on-one, personalized, or small group marketing) into a revenue source.

Curation & Conversation

One of the main draws to an alchemy network or a mastermind group is the idea of curation and conversation. People join these groups because they are with like-minded individuals. The company or individual who hosts or leads the network or group, has already weeded out the individuals who don’t meet the criteria. Dov, a curator for his alchemy network, is always welcoming and encourages new people to join, however, he doesn’t accept anyone who isn’t a good fit for the group, the group’s mission statements, or their values. 

People will come into the network and pay an annual membership fee if they know that it is curated so that the others are precisely the people that they really want to be talking with. 

When you bring people together and they’re having conversations, it leads to good things.

Step 1: Design

As you are designing it, you have to keep in mind what you’re trying to accomplish. The purpose of an alchemy network is to be able to bring the right kind of people into your world so they can begin. There are three types of members you can have in this network:

1. Colleagues (same industry, partners and competitors)
2. Ideal clients
3. Recommenders and influencers in your industry

It’s not a networking group like BNI (Business Networking International)

This is not a substitute for somebody who has not yet learned to sell.

The Big Idea

It comes together with the ideal member and a focused idea. The Big Idea is something that will bring everyone together at the right level. This common interest that isn’t too narrowly focused and specific: not too big (causing them to not be able to relate to it) or too small (which would make them think it’s not important enough or relevant enough in their day-to-day). 

Who is your idea member? What is the big idea that would lead them to want to participate?

Step 2: Launch 

When you launch, make sure you have something to offer the people you want to reach out to. Some examples would be informative emails, access to a network directory, virtual calls where you can converse with one another on specific topics and agendas, or (depending on the current environment) in-person meetups.

Within the network, anybody can schedule a one-to-two hour phone call. This helps you figure out, “Which one of these people should I be spending more time with?”

Steps to launch:

1. What is your launch schedule?
2. Go to your audience
3. Screen your audience
4. Simple messaging which directly communicates the values of your group

Step 3: Lead

The fundamentals for this step are based on curation and conversation. Remember that these are the things your members will want the most so make the curated membership strict and help make communication within the member group easy.

What matters most for most members is conversation.

To help in this process, Dov creates a 365-day onboarding messaging process. This process guides the members in the right direction, helps them with The Big Idea, and gives them helpful information right off the bat.

I know people aren’t going to do everything but I want them to know that there is always a small step that you can do (while you’re in the network) that will give you a big return.

Leadership is tricky. It is simple, but it is also nuanced.

Step 4: Leverage/Monetize

Look at your business goals. What are your processes? How do you educate people about what you are trying to accomplish? Remember you are helping members leverage each other to 

It’s so easy to assume that what’s obvious to you is obvious to others and it wasn’t.

How to charge:

Dov charges in different ways depending on the level of and the different forms of involvement in the alchemy network. While he doesn’t drop specific numbers (because prices change with the times), he does offer three different options:

1. Under-the-Radar Leaders Network
2. Small Group Option
3. One-on-One Work with Dov