Day 10 of the 21 Day Build A Mastermind Challenge

What's happening, everybody? Welcome to day 10 of the challenge. Day 10 of 21, build a mess of Mind challenge. Oh, yeah, it's so fucking good. Okay, so day 10, we're gonna talk about your beta launch. Now, what is a beta launch? What is a pilot program? Beta launches and pilot programs are a way to not spend all your time and energy and money creating something that somebody might not want and might not pay for. It's really important because I don't want you spending six months building something that nobody wants. When I first started out in the entrepreneurship game 2014, I'd just come out of my hedge fund that had done really well. We had a banner year, 106% return. We had a million dollar month. It was a really great year. And here I was riding this high. I thought I couldn't lose. And I'm going to create a course. It's going to be the best course on personal investing. People need to know about this. And I was like, all you go. So I go and I sit in my apartment in Santa Monica. I sat by the pool too, but mostly creating content and creating content. Creating content for like six months, refining and creating it and refining and creating it. And got to the very end and hired somebody to help me launch it and put together marketing and all that stuff. We did a big launch and we sold five courses and three of them refunded because I didn't pay attention to the number one rule, which is make things that people actually want and sell it before you build it. So don't do what I did. Don't be stupid. Don't waste all your time creating something that maybe nobody wants. And make sure you make you build something that people actually want by selling it and validating that offer before you actually build it. And the way you do that is with a beta launch. Okay, cool. So we're gonna share this. I think you get it by now. So present. Got it. So data launch, case study. I already talked about the simple product sourcing with Michael Quinn. I think that was in video. Four or five, day four or five. But there's an example where we basically built a mastermind from scratch. We made it a thousand bucks. People were charging 5,000 for a similar thing. They got all their travel and figured all that out themselves. So the money that we built was straight profit. It paid for our trips and gave every everybody really fun boat party at the end. We put that in the budget as well. So it was super fun. And if you go to the Facebook group, which is facebook.com group masterminds for entrepreneurs. You can also see that picture of us doing that Mastermind in the very top in the COVID photo is actually us in China or in Hong Kong rather on a boat doing a Mastermind. So that was super exciting. So that was a beta launch, right? We just came up with an idea. We sold it first and then we delivered on it. Same thing with the Mastermind that I ran for two and a half years called the messaging mentorship mastermind program, the MMM up 3, which was one of our more successful masterminds. We charged up to 25, 30,000 a year for it. We helped people launch companies and we had one client that made an extra $200,000 in the first three months working with us. It was really epic. So that Mastermind started out as a beta test and we got a few clients and we kind of worked out the kinks and then we continued to iterate and get the offer going and spread it out to more and more people and we eventually couple dozen clients run through that and then we have the Build a Mastermind program. The Build a Mastermind program is my current offer that I have, which is really high end, basically tailored support. It's all the videos, the Facebook group, the twice a week calls with us making sure that you have everything you need and just full, you know, opening the kimono, everything that you need to create a Mastermind. And it's everything I've learned over again being part of 26, starting eight of my own, doing them all over the world. This is the course that you're going to want to have to really go after it if you're gonna really make this a priority and get it done. Build Mastermind course, which is started as a beta, right? We started it with a small group. We built it out since then. And basically the things that you need to know for your beta launch, you don't have to have a whole lot is just to have that market research, right that we Talked about, the 15 minute calls, take all that, compile that together, come up with an offer using the offers Challenge, which is the five, you know, challenge. It's the five day challenge in the group, it's in the posted in the announcements. You can go ahead to MrBls Co offerschallenge, which capital O, capital C in order to find that, in case you haven't found it or just go on the Facebook group and look at the announcements. So you want to know how much it's going to cost, how many people and finally sell it before you build it using the sales script, which we've already talked about a few times, but you can get that@buildamastermind.com sales script so hyphen script. And that will help you to enroll these people into an incredible mastermind that you're going to build. And you can tell them, hey, this is a beta. Hey, I'm not going to charge what I ultimately intend to charge for this. You know, maybe I'll be charging a thousand a month, but I'll start out at 500amonth and, you know, we'll grow this together. And if anything's wrong, you come to me, you'll have more access to me. I'll be more accessible during this time in this beta launch, so there's more time with you, less price, and give them everything that you possibly can to help them. So finally, when you're done with that, you want to book that out and get underway. That's selling before you build. So the beta launch is very quick to iterate with your mvp, which is your minimum viable product. You want to continue to iterate this until you have a fully fledged offer which becomes, you know, go from your hypothesis to your thesis, your working theory, and then finally do a limited number of spots, I would say five to 10 to start, just to have some scarcity and stick to that number, whatever the number is, you decide. And then finally put all that together in a launch post. Tell people the details, who it's for, who it's not, for, what they get and how to apply. And then finally do your dream 10, 15, 50 or 100 client exercise and reach out to those people, because you already have these people in your network, these five or ten that you want. You probably have to reach out to 50 or 100 in order to get that. So start reaching out to them, send them a note, say, hey, I'm doing this Mastermind. Will you be interested to learn more about it? And then give them the beta pitch. And again, the sales script and bonus training are still available there@buildamastermind.com sales script. And if you want to go further, faster, this, hop over to buildamastermind.com and get on our calendars, fill out the application and we'd love to work with you. As always, this is day 10. Thank you so much for continuing to watch the Build Mastermind challenge. I hope this video has been very helpful for you. Go out and start your beta test, get your launch out there and we're going to continue along, rocking with day 11 real soon. Thank you so much. I love you. I'll talk to you soon.