Co-Founder of Mindset To Money, Thomas K.R. Stovall here. On my mind for this week’s behind the red curtain update for Mindset To Money is “Thinking Like A CEO.”
I’ve spent the last week and change on the road, traveling from Maryland to Las Vegas to Mexico, MOSTLY for business.
I had my personal business planning retreat in Maryland, and I attended a high-level business mastermind in Mexico, but my lady and I snuck a trip to Vegas in between with 2 other couples to see Usher perform on his birthday – AMAZING.
All work and no play makes a dull boy. 🙂
When I look at my own personal and professional growth over the last 12 months, it is profound for me to see how much my MINDSET has shifted.
As I become an actual CEO of my business, and transition out of the self-employed mindset I’ve been unsuccessfully trying to shed for the last 20 years, there are some lessons I’ve learned that are front and center for me, as I grow.
Over the last 4 days in Mexico, I spent time in training sessions, over dinner, and hanging out for 8 hours on a 100 foot yacht with some of the smartest, most well-known and most accomplished digital marketing professionals on the internet.
3 of those simple “CEO” mindset lessons were reconfirmed even more deeply for me during that time…
Lesson 1: Your job as a CEO is NOT to do the doing
- I took less notes than I’ve EVER taken at one of these events…
- I know enough now to know what the gaps in my business are, the job titles and skill sets of the individuals or agencies I’m looking to hire, and the structure of the types of engagements I’m looking to get started on.
- I don’t need to take a million notes on HOW to implement…I need to be able to identify the best in breed implementers, and hire them.
- Guess what? They were right there in the room. Which brings me to lesson 2…
Lesson 2: Being in the right rooms is KEY to filling the gaps in your business as quickly and efficiently as possible
- Access to best in breed talent.
- Opportunity to have direct conversations and build substantive relationships.
- Analytics and Measurement, Media Buying, Detailed Tax Strategy and Planning, Charitable Trusts, Call Centers, Chat Funnels, AI Chat Bots…I got to have deep dive, casual conversations and build relationships with folks who charge 4-figures for one hour of their time.
- To be in those rooms, it generally costs $25K – $50K/yr for each mastermind, which brings me to lesson 3…
Lesson 3: Money accelerates growth, but only if you know exactly what you need, in what order you need it, and who to hire
- I knew going into that mastermind that I wanted to find and explore engagements with experts in sales chat funnels, call center sales, tax strategy and planning for the business, and also identify a few potential featured experts for Mindset To Money master classes.
- I found every single person I needed. I haven’t even been home 24 hours, and I’ve already got a contract in my inbox for one person whose company specialized in done for you chat sales funnels which will cost $17,000 over 3 months.
- I’ve got another conversation set up on Wednesday with a tax attorney who specializes in tax planning and strategy, this is after I got to speak with him 1 on 1 about these matters for close to 4 hours over a bus ride from the yacht, followed by dinner. His usual rate is close to 4-figures per hour…but we were just 2 colleagues talking.
- I’ve got 2 other calls set up with media buying companies. I got to spend over an hour apiece talking with both CEOs IN DEPTH about my company, hearing insights and recommendations they had for me, that they’ve used time and time again to grow 8- and 9-figure companies for well over a decade.
- The amount of tangible value in direct access to knowledge, resources and relationships for what you pay in a top level mastermind is nominal.
- My operations team, I met in this mastermind. My social media management team, I met in this mastermind.
- I’m in $100,000 worth of masterminds this year alone, and it’s worth every penny. I couldn’t have fathomed this kind of investment a year ago…now on the other end of it, I realize how critical it is to be in rooms like these…it’s the cheat code, but you’ve got to pay the toll.
At Your Service,