BLS Interview with Scott Beebe, Part 3

Derek continues his interview with Scott Beebe,  the producer and host of the Business On Purpose podcast and is actively involved in the business Mastermind program. This is part 3 of his interview. Read Part 1 and Part 2.

Listen to the full podcast here. 

Derek:  So tell me about the Mastermind program.

Scott:  So I’m in a Mastermind and then I lead a couple of Masterminds and then I’m about to get into group coaching. Which I’m really, really excited about, where I partner up with an industry expert and I bring the systems and processes side of everything- the mission, vision, value systems and processes. And then the industry expert brings the industry side of it. What we do is we take small business owners in that industry through a six-month coaching program. It’s perfect for them because it allows them to get pretty much the same level of coaching. It’s not one on one, so it’s a little bit different, but it drastically reduces the cost scale for them. And they’re able to process through that, so we just started with architects and I’m really pumped about that. I’m currently talking to a guy about doing that for contractors, just blue collar, which I’m super stoked about that, that will be a lot of fun.

Here is fundamentally how I run a Mastermind. We start with big wins every time and then we go into an accountability update from the week prior. So, whoever was- what I call the Business Spotlight, where I was kind of man in the middle the week prior. We do an accountability update to find out what they implemented on since last week. Then, we go into this week’s Business Spotlight so one member of the group now has 30 to 40 minutes and it’s all on them, whatever they want to talk about. They’ve got a whole table of coaches around them, ready to go. Then, once we get done, we come to a conclusion on one or two action items and then that’s their implementation for the following week. Sometimes we just go way off course and it’s a total detour for what somebody needed to talk about, so we can always shift.

Derek: How many clients do you have at a time?

Scott: They can go up to 10 or 12. I’m a member of a group of 12. I like to keep my groups kind of 6 to 10 and right now they’re around four, so we’re building both of those as we speak. Now the group coaching is going to be around 10 to 12.

Derek: Are these in different regions so they’re not worried about any kind of competitive advantage. Tell me more about how that works.

Scott: Yes. So geographically, we do them all online, so I don’t do any live Masterminds. I’m actually about to start some group live Masterminds with live coaching clients as a value add to them, but I’m trying to keep all my Masterminds and group coaching virtual. And honestly, I’m just being very candid here Derek, I’m doing that a little bit on purpose and here’s why- It’s from a timescale standpoint. What I’ve found is one-on-one coaching live- the coaching time is an hour, which inevitably goes to an hour and a half. I don’t want to shut people up in an hour if we’re rolling. It inevitably goes to an hour and a half, then it takes 15 or 30 minutes to get there, and 15 to 30 minutes to get your next thing.

So you’ve got like two, two and a half hours caught up, per client. I love it, it’s great, it’s just not scalable. So it’s like a homebuilder trying to build 30 homes a year; you can’t do that by yourself. It’s great, you want the revenue, it’s just not scalable. So you’ve got to bring on team members to be able to do that, and so that’s why I like the group coaching idea. In a Mastermind, I feel like I’m able to bring my, what I call, narrow brilliance or my unique value to a larger group of people at a cost value to them, but also at a cost value to me, from a time standpoint. So it really is a win, win.

Derek: What’s your best piece of entrepreneurial advice that you can share with our audience?

Scott: Systems and processes, man, after your vision story’s articulated- and I cannot beleaguer that too much, I really can’t. If you do not have a vision story for what you see down the road, I really wouldn’t spend the time systematizing and processing out the business. Don’t worry about logos and taglines and all that kind of stuff. At the end of the day, you need to ask yourself what do you want this business to look like in 8 years or 12 years or whatever? And I wouldn’t even start with this. What do you want your life to look like in 15 years? Because if you want your life in 15 years, you want to be making- you want to be a millionaire. You’re not going to do that as an employee making regular salary, it’s just really not possible unless you live this kind of, miserly, meagerly life.

And if that’s what you want to do, that’s fine. I’m just saying your destination 10, 15 years from now is going to determine what you want to do. So if you want to be making- I’m just using income as an example but let’s use geography. Let’s say, you want to live in Rio. Well, you need to decide now. If you say, “we want to live in Rio”, well that probably means you’re not going to just go down and find a job in Rio. So maybe you come up with your own online virtual business where you can live in Rio and still do business in English somewhere else around the world in English speaking countries. So determine what that vision, that destination, looks like and then you can back that up and retro engineer it and create the product and service you want to from there.

Derek: That’s great, so how does someone get a hold of you if they want to learn more information about you Scott?

Scott: Thanks Derek. A couple of ways: First, our headquarters online is mybusinessonpurpose.com, we’ve always got giveaways up there. Right now, at the time of this recording, we’ve got How to hire a virtual assistant, we’ve done that. I get questions all the time about how to do that and what the value of that is and we just put a little free e-book up there. And then the other is fourstepstobusinessfreedom.com. It’s all spellled out, fourstepstobusinessfreedom.com and that explains our step-by-step infrastructure. What we walk small business owners through to really kind of give them their lives back and liberate them from the prison that they are in, working on the details of their business.

Derek: Can they listen to your podcast from that website as well?

Scott: Absolutely, if you go to mybusinessonpurpose.com, podcast post. Every week the Business on Purpose podcast, where we interview small business owners- which by the way Derek, we need to get you on there and we talk to you guys about how to integrate faith and work and not in a weird way. Not that you’ve got to wear like cross lapels or anything like that. But sincerely, how do we integrate our faith and our work and that’s the Business on Purpose podcast.

Derek: That’s great. Scott, thank you for being our guest today, we appreciate you sharing your journey and your wisdom and I look forward to our listeners to coming to visit you and to listen to your podcast and visit your site and contacting you if they want more information.

Scott: Thanks for what you’re doing Derek.

Derek: Alright, have a great one Scott.