7: What is a Mastermind?

Welcome to the Purpose Driven Real Estate podcast. This is where passion meets purpose in an ever changing real estate market. I'm your host, Steve Valentine, former real estate agent turned real estate entrepreneur, speaker and guide to all things real estate. And this is my co host, Paige Tons, former D1 college athlete turned real estate adultrepreneur. Whether you work in the industry or you are a consumer of real estate, with each episode we intend to raise the bar in our industry and show you the purpose behind every piece of real estate in your life. What's up, everyone? Hey, everybody, it's Steve Valentine. And we are back on the Purpose Driven Real Estate podcast, bringing you. What are we bringing today?

We are talking about masterminds.

Masterminds. That word is so overused in our industry. You know that. You know how many invites I get to Mastermind Lunches, dinners, groups, once a month, once a week?

Must be just. You're so popular.

No, that's not what it is. It's just an overused term. And I say that just because I got a taste of what an actual real mastermind is that I joined last year. So we'll talk about that.

All right, so what is a mastermind?

Well.

Let'S get right there.

Let's just get right to it. Okay. Mastermind is really a collective group of people. Mm, that. What's the matter with your microphone? You need to eat it more.

It's too far away.

Oh, got it. Just stopped. Josiah.

Hey, me.

Look at me. But. So Mastermind is really a collective group of people now. It may be in the same industry, it may be outside the industry that come together to. There's usually a moderator in the mastermind.

Oh, what?

A moderator. So that would be the person running the mastermind group. So they're bringing value to the group and then the group is going to keep each other accountable, share ideas, collaborate, and help make their businesses better, their personal lives better. There's just a ton of different value that comes from a real mastermind. When it comes down to it, some of the masterminds I've been involved in in the past were more like network lunches. Because some people, when you get into, let's just say in our market in Phoenix, where you get into a Mastermind lunch or dinner, depending on the people that are there, some people may feel threatened or intimidated by actually sharing their ideas or needing accountability in fear that other people in the room may use that against them or may use it to steal business type deal. So a mastermind really is my experience being with the one I'm at now was there was an application process and I know that you want to ask me some more questions about that, so I'm trying not to dig too far into it. There was an application process in order to put the right group of people together.

Right. Interesting. I didn't know there was an application process for it.

Yeah.

So basically masterminding is like a combination of self development.

Yep.

Collaboration and working together, some business building and in order for the group to meet their individual goals.

Correct.

Man, that was pretty good definition. I just thought of that off the fly.

Now you're wanting to write it down, huh? Good news is Josiah's recording it. So you're.

So what do you do in a mastermind that you have thought has been the most beneficial? Not though just the network luncheons. But what do you, what do you actually like do? Like, what does I think.

I think the biggest thing is look like? Well, so when you, when you look at Mastermind and you look at the one that I'm currently in now, which is it's Chris Harder's for the Love of Money Mastermind, the interesting thing that Kris brings to the table and that this mastermind has brought to the table and is it had me step away from my industry, which has been extremely valuable. You don't know how many things from outside the industry actually play a part inside your industry. So you know, there's all kinds of people involved in this and you end up getting different ideas, different spins, different takes. Even this podcast has been talked about and gone through with everybody getting their opinions and everybody's adding value to your life while you're adding value to theirs through your experience.

That's interesting. The comment you had about getting out of the industry, because since you've gone out of the industry and you went to Lewis Howe's event and kind of ventured on the outskirts of real estate recently in it's kind of pushed me and forced me to look outside of the real estate industry. And it's funny cause I never really imagined myself being in real estate when I was growing up. I wasn't like, I wanna be a realtor when I grow up. So it's forced me to and pushed me and challenged me to look outside. And it's interesting that you said that because I'm listening to some podcasts that are not real estate related at all, but they're helping me grow my brand and my own thing with the course and all the things that I'm working on.

So what's your favorite podcast right now?

And it's kind of like a little mastermind in itself.

Sure.

But for everybody.

Right, right.

The podcast that I really like right now is Angie Lee's. I think she calls it Angelee's Radio or Angielee's podcast right now. But it's all health and wellness stuff. But it's very applicable to just like entrepreneurship and business and real estate in general. And a lot of it is social and building online business. So I think that's really well because what we're doing in real estate right.

Now, the health and wellness is, you know, my brother's in that space as well. And the health and wellness is a relationship thing and you're wanting to help people. So you look at real estate and that's what, you know, our real estate company is. It's based on relationships and it's based on helping people accomplish the things that they want to accomplish. So you can equate real estate to the health coaching industry or you know, the, oh, the supplement industry, where people are trying to help people. But you know, I think one of the things that's really changed is I'm not a big believer in the high pressure sales and that's just not where a company's been founded. I believe it's awkward and some people believe in it and some people do really well and that's great. It's just different for us. But I do believe that, you know, I want to strike up a relationship with that person and I want them to want to do business based on the relationship that we have. Not because they've been forced to, not because they've been forced to sign a long term document. There's just different ways of doing that that I've seen. And you know, the mastermind, stepping out of the industry because we're in a shiny objects industry. Real estate is full of conferences, classes, courses. I mean, you can find something anywhere and everywhere and everybody's got an opinion.

Luncheons, right, which is great.

Houses, which is great. But sitting with or actually going to Lewis Howe's summit of greatness last year was a last minute whim, last minute plane ticket, last minute purchase. And being around a thousand entrepreneurs, podcasters, book writers, authors, speakers that are all doing different things in the world was just eye opening. And I met some of the coolest people there last year. And then it's led me down this rabbit hole of just these people that have a huge influence, not only just on me, but on our business, the direction of our business, what we're doing, where we're Going. And I never would have gotten that influence outside of or inside the industry.

Inside the real estate. Right. So how did you find out about the mastermind that you're in right now with Chris Harder? And how did you choose to be in that one compared to. I mean, did you know of any other ones, or did you do, like, a lot of research on it, or did you just kind of know?

It's interesting you asked that is that I was introduced to Chris and Laurie, and this is not my typical MO When I was in Columbus. My objective when I was there was to meet somebody new at lunch, at dinner, when I was having a beer all the time, because the hotel was swarming with people. So we met just a ton of different people. And one gal, Jigme Love, and she's such a sweetheart. She's up in Vancouver and owns a clothing boutique up there.

Pretty sure we're Instagram.

Yeah. But, you know, she introduced me to Kris, and she loved my story, just as far as what my background was, what I had been through and where we're at now and the amount of charity that we support. So I met Chris there and then got back to Phoenix on the treadmill one day, and I was listening to Chris's podcast, and it was either Chris's podcast or it was Louis interviewing Chris. I can't remember which one it was. And actually it would have been Chris's because Chris said if you know somebody that Chris's podcast is for the love of money. You know, if you know somebody that does. Makes good money, does great things, you know, I'd like to talk to them. Let's introduce. So I remember that I had Kris cell number. So I text Kris, and I said, hey, we wanted to catch up with you about the podcast. So I was on Kris podcast, which was pretty cool. Yeah, it was actually, I think, one of my first podcasts that I was on. And it was, he's such a great interviewer, has just great energy, and him and his wife Lori, are just amazing people. And so Kris asked me, not shortly after that, if I wanted to apply for it. And so I did. I applied for his Mastermind. And to be honest with you, I didn't look at anything else, which was kind of awkward. I was like, okay, all right, sure. He kind of sold me. But here's the thing we just talked about a second ago. Kris built a relationship with me. We did the podcast interview, and then it was an application process, and there really wasn't any selling involved. It was just, this is what it Was, this is the cost, here's the application. And he did like a two hour onboarding call just to see if I would fit with the group. And I did an interview. Yeah, it was an interview. So yeah, that's, that's really where it came from. There wasn't a lot of research, but.

Do you know how many applicants he got? Just curious.

That's a good question. I don't know. I know there's 30 of us in the group right now.

Okay, interesting. Cool. So how many masterminds have you been in?

This is the first one.

But you've been in a few other.

So I've been in a few other ones. Yeah. So I've been in a few real estate related masterminds here locally that have been good lawyers titles. Put one on. Fidelity's put one on where they're a monthly gathering where you kind of get together for an hour, hour and a half, sometimes two hours sharing ideas, talking about what's going on in the market. But again, it's all coming from the same industry. So there's not a lot of outside influence helping to shift the current real estate mindset.

Right. There's more kind of doing the same thing over again. But. Okay, so what kind of people are in the mastermind that you're in now with Chris Harder.

Oh, and what are they doing? Okay, so it's a really cool group if I really think so.

I mean, there's 30.

So there's 30 of us.

We might not be able to get.

Through all of it. Yeah, we'll get through all of it. So. So there's authors in there, there's some coaches, some high performance coaches, there's some tech guys, there's a photographer and all these people. I'm trying to think, definitely some health and wellness people in there. You have some people that running networks like what Sarah Pendricks does with the Girl Talk network. So yeah, just some different people. Lots of different walks of life from all parts of the country. There's a chiropractor in there that's doing a podcast and called Work Hard, Play Hard. So there's just a ton of. Ton of walks of life in there, all different ages, all high level entrepreneurs and you know, it's a five figure ticket item. So these are not. These are people that are super serious about this particular. And it's not really coaching. It's really about again, Chris put it together and then Chris is using his influence from the people that he knows to come in.

Connector.

Yep. Coming in and speaking to us Like, I just got back from Santa Monica at the beginning of the month and you know, we went through three and a half days of. And I want to say call them classes, but these are influential teachers training kind of. Yeah. That come in, talk to us about their business, talk to us how they got there, what they did, what their story is. And it's just been amazing information that I can come back and apply to what we do on a day to day basis.

Right. So is it difficult to like absorb all of this information from all these different, different areas and then put it into practice in your business and in real estate and like how you want to. You envision what you want to do.

When you come back from that three days? It's actually one of the things that I always do is I stay an extra day to decompress. So I don't just go back into the grind and forget about what we did and what we walked through. Yeah, I think a lot of people do that. They go to seminars, they go to conferences, and they go in and they come out and then it's right back to the grind without. How do I implement this? What does it look like? Who do I talk to about it? What are my notes? What are my takeaways? What's. What can I implement in the next 90 days? And I love the last time I was there, which really helped me see Bedros. I can't ever pronounce his last name right. He's the owner of Fit Body Bootcamp and he talked about reverse engineering his timeline when he said, you know, I want to be in a certain place at a certain time by 2023, which means he has to do X amount of sales per month, per day, per year in order to get there over the next four years. And so it was just kind of an interesting concept where if you're making these big huge kick ass goals that you have to go back and figure out how to do it so that you have those targets to hit on a day to day basis, on a weekly basis, on a monthly basis, instead.

Of just getting like lost into the abyss? Right, okay. So you're talking about all these people. And I think that one of the questions I was thinking was what? Like, who has been the most, like, interesting or like the greatest story that you've heard so far, like from where they've started to where they've come based off of masterminds and some mentorship and coaching and stuff like that.

That's really hard. They all have just such amazing stories when it comes down to it or.

Like someone that you've seen, like a lot of growth that has been inspiring in a mastermind.

You mean somebody that I've. That's in the group or.

Yeah, sure.

Hmm. That's a real stumper.

Sorry.

Stumper. Yeah. I don't even know how to answer that because we're all just on that same growth pattern and just kind of moving through things. I think, you know, some of them that are super inspiring are people that are just. They jump in and get stuff done. And sometimes, you know, it's like, God, I wish I could just get stuff done. You know, watching like, Nicole Sylvester is one of the. One of the gals in the group, and she wrote a book called oh, Shift. And she has this crazy story from Chaos to the Current. And I haven't read the book yet. You know, I've talked to her about it, talked to her about her story. But it's pretty interesting just to see and watch her journey from writing the book and bringing it and launching it and kind of going through that process. So those are kind of the cool things you see.

Okay, so you said something about you guys are kind of all on the same path, but when you see other people actually taking actions and you're like, basically like, oh, shit, like, I need to get my shit together. Kind of start adulting when you're. When you're trying to adult. But I would think that's kind of the whole purpose of that group is to really push you to your limits and be able to kind of get through that, the comfort zone.

So here's. Here's the piece is that the. Here's what I feel. I think the masterminds that I've been involved in are great here in Phoenix, and I think that they can be challenging. I think ideas come out of my thinking. Camaraderie and collaboration come out of them. There's some accountability, but when you come back to. For the Love Money mastermind, these people are relentless. I mean, these are drivers, they're fighters. We're going in a bunch of different directions and we're doing it together. Especially like in the Facebook group where you can post something and get somebody's opinion. And we have a once a month accountability call, and then we all have an accountability partner for each trimester. So we have three meetups during the year, and then we have an accountability partner that we typically talk to once a week. We go through our goals, we go through our struggles, and that really helps. But the group also will chime in and go Hey, I have so and so to offer this. Would you guys be interested?

Right.

And so it's a constant value add, and it's a constant. It's a support group.

So do you think that the real estate industry, even in the Phoenix area, could have something like this that would be actually productive and beneficial?

Yeah, there's a lot of value to it, especially from being able to bring outside influence in, and it's something that would definitely be beneficial. And I'm not sure if there is anything in the Phoenix area that does that, but it's something that would definitely be considered down the road.

Got it. So to kind of wrap this whole Mastermind episode up, what has been the most valuable part from your masterminds and that you've been a part of?

So the most valuable part has been the connections. And, you know, as much as I love the ones here in Phoenix, stepping out of my comfort zone and doing one. So the one that. That we do, we actually go to Santa Monica three times a year to meet up with everybody.

Okay.

It hasn't just been the accountability that's been so critical. It's been the friendships that'll be lifelong at the end of the day. I mean, these are 30 people that were now super tight niche that, you know, we get to see and get to see the success and be a part of their growth and really thrive to spark each other to move on to the next thing rather than just becoming stagnant.

Right.

There's. There's a big difference because it's not, you know, if you're in a, you know, local Realtor mastermind, I don't know that that group is really thriving to kick each other's ass on a daily or weekly basis because there's not a lot of accountability versus the outside the industry. And again, no matter what industry you're in, you know, joining a mastermind and looking to learn and glean from other people can push you forward in life, can push you forward in your relationships, and push you forward in the current career or job or something that you're seeking. So, you know, if you're in the podcast world, the influencer world, there's a ton of different masterminds and podcasts, and you just start looking for, I mean, geez, you can Google Mastermind, and there's a ton of them that'll come up that are potential to be, and they range from, you know, $5,000 for the year to $100,000 for a year. It just depends on what you're looking for.

Awesome. Well, Those are some pretty good answers to the questions. Hopefully there's a more clear image of what masterminding looks like. And do you have any other thoughts?

You know, all I would say is like, this may not have had a lot to do with real estate today, but I do think that this has had a lot to do with the change and the shift in our mindset and our business towards real estate and what it can do for people. Whether you're renting, whether you're buying, whether you're owning, it's had an impact. So the mastermind piece I think is an impact piece for anybody that's, you know, in the real estate business.

Right.

I highly suggest that you go outside the industry, do a little exploring, do a little exploring outside of real estate because I think it'll help open your mind and help you really see that there's a difference part of it. And then it's not all sales driven.

Right. It's not all just buy and sell.

Right. So that's what we got for today. Hope you guys enjoyed it. Again, you follow us on social media, that would be awesome. Steve D. Valentine and Paige Toms T O N Z Facebook, Instagram, those are the main things. And as always, we ask you to share and encourage you to comment, subscribe and leave us a five star review. We would greatly appreciate that. We're out.