Ep. 156 The Power of a Retail Business Mastermind Program
Joining a business mastermind is both rewarding and intimidating, especially if you’ve never participated in one before!
If you’re considering a retail business mastermind program like Master Shopkeepers, read on to learn why they’re so valuable and what you should consider before joining.
What is a Business Mastermind?
Simply put, a mastermind is a small group of people who meet regularly to support, challenge, problem-solve, and learn from each other. They often hold each other accountable for their goals and give each other advice from their own experiences.
A business mastermind is uniquely focused on running, owning, and operating a business. More personal topics can arise, especially if the group is made of small business owners—there’s a significant overlap between business and personal for many entrepreneurs!
Six Things to Consider Before Joining a Business Mastermind
Over the years, I’ve both been a member of other business mastermind groups AND founded a mastermind for retail store owners, Master Shopkeepers. Here are six things that I recommend considering before you join a business mastermind.
1. Find Your Peers
This one is pretty simple! Look for a mastermind that is specific to your business and your needs. It should be as niche as possible.
For example, Master Shopkeepers is ONLY for brick-and-mortar retail store owners. There aren’t other types of retailers in the group, as we want to keep our discussions super-focused on the unique issues of retailers with a physical store space.
2. Determine if You’re Willing to Give AND Take
It’s easy to take in a mastermind, especially when you first join. There’s so much advice bouncing around, tons of helpful conversations to listen in on, and usually some resources to dive into.
But giving is a key part of the mastermind equation, too. Masterminds are valuable because all of the members contribute. Even if you don’t consider yourself an “expert,” you still have valuable nuggets of information tucked in your brain—and those nuggets might be just what another mastermind member needs.
3. Figure Out Your Goals
Do your goals match the goals of the mastermind?
For example, the tagline for Savvy Shopkeeper as a brand overall is, “work less, profit more, and grow.” I teach this in everything I do, from podcast episodes to blog posts, and especially in Master Shopkeepers.
Store owners whose goals include…
1) taking their businesses seriously,
2) becoming more profitable,
3) adding more freedom, and
4) growing or scaling their stores
….are the store owners that get the most out of joining Master Shopkeepers. That’s because their goals match the goals of the group.
4. Are You Ready to Make the Investment?
Investing can be scary! However, I encourage you to consider not just the amount of money you’re investing, but the return on investment (ROI) you can expect.
Participating in a retail business mastermind program alone won’t fix, improve or grow your business. You have to show up, take responsibility, and DO THE WORK.
I provide an incredible space for Master Shopkeepers members. The group itself is one of many valuable assets with the membership. There are also a TON of lessons, masterclass replays, resources, tools, and much more available to Master Shopkeepers members.
But if they don’t use, practice, or implement the information that’s available to them…they won’t see any ROI.
I often hear people say, “I don’t have the time.” But what this truly means is you aren’t making whatever it is you’re referring to a priority. So when you join a business mastermind, it’s because you are READY to prioritize your business.
5. Are You Comfortable in Group Settings?
If you Google “mastermind,” you’ll often find they are described as tiny groups of 10 or fewer members. In Master Shopkeepers, you are surrounded by over 100 other retail store owners!
This might seem large and intimidating, but the connections and intimacy are there. Members are finding their biz besties and small groups of close friends. We’re connecting in person, on Zoom, and we genuinely get to know each other—as long as you show up!
A few shopkeepers have tried out Master Shopkeepers and determined that group membership isn’t for them. They find that 1:1 coaching is a much better fit. You know what I say: you do you!
6. Find a Group That Aligns With Your Values
In Master Shopkeepers, we value kindness, respect, and professionalism. We treat our stores like businesses, not hobbies.
There are no mean girls here and no one who’s “playing shop.” Some retailers join and aren’t taking their businesses seriously yet, but this changes once they see how powerful the mastermind can be for their mindset. This also happens at the Savvy Shopkeeper Retreat.
How Master Shopkeepers Stands Out Among Business Masterminds
In addition to being an incredible retail business mastermind program, Master Shopkeepers is also a business coaching group. This makes it truly one-of-a-kind!
What’s Included in Master Shopkeepers
Not only do you get the knowledge, support, and encouragement of other store owners, but you also get…
Yes, really. ALL OF THIS.
What Members Love About Master Shopkeepers
During the 2022 Savvy Shopkeeper Retreat, the videographers from Unnamed Films interviewed Master Shopkeepers members at Frügthaven Farm. We did this because it was important to me to capture the group’s essence in our members’ words.
You all hear from me every week through the podcast and the blog! And although I am the group leader and coach in Master Shopkeepers, I am only a fraction of what this group membership offers and how much it gives to group members.
When I got back from AmericasMart, I watched the (nearly) final edit of the video and tears streamed down my face.
Founding Savvy Shopkeeper has been a journey with many bumps in the road, plenty of failures, and lots of changes over the course of 5+ years. But what hasn’t changed is my determination to…
- build a community of retailers who genuinely feel supported, not judged
- talk WITH store owners, not AT store owners
- educate indie retailers in a way that they can truly understand how to work less, profit more, AND grow!
- coach indie retailers like no one else is doing it—with a focus on our health, mental health, and mindset. Too often, these key areas are neglected and swept under the rug.
Hearing our members describe Master Shopkeepers in their own words confirmed that this mastermind genuinely supports retail business owners with all of the above, but especially to work less, profit more, and grow.
What Master Shopkeepers ISN’T
Master Shopkeepers isn’t a free Facebook group filled with spammy conversations, never-ending sales pitches, negative Nellies, Debbie downers, or judgmental, condescending, and gloating business experts.
Don’t get me wrong, we seek help from each other and sometimes vent, especially under our Monday Mood post. But we also have so much fun. We share our wins, laugh a lot, and truly encourage and support each other.
If You’re Considering Master Shopkeepers, the Best Time to Apply is Now
After considering all of the above, you might feel like Master Shopkeepers is the right fit for you and your business goals. If so, I encourage you to apply now.
Two of the biggest pieces of feedback I receive from Master Shopkeepers members are, “I wish I had found this group years ago!” and “I would have quit this if I didn’t find you and Master Shopkeepers.”
Additionally, some changes are coming to Master Shopkeepers next month. Starting in March, the annual membership price is increasing, and the territory protection size is decreasing.
Existing members will stay at their current price and territory protection, though! Applying and joining NOW means you’ll also lock in the current price and territory protection.
Lastly, I want to mention what a founding member recently mentioned. When Kim first joined, she challenged me and gave me some tough love, and I’ll never forget it. She asked me some tough questions when I launched Master Shopkeepers because it was important to her that her values and mine were aligned if she was joining the group!
When I recently shared the Master Shopkeepers video (see above) in the group, she said, “I am so incredibly proud of you and your accomplishments with Master Shopkeepers. I love what you have built. Your heart and soul speak volumes to so many women business owners. We have all been blessed by you following your dream!”
Four years later, Kim is still together on this journey with me, and I’m incredibly proud of that. Before joining, she checked in with herself about what SHE was looking for in a mastermind group. She may have asked herself some of the questions I mentioned in this post. She did the work to ensure Master Shopkeepers was what she wanted for herself and for her business.
I recommend you do the same for yourself.
If you have been interested in Master Shopkeepers for a while—or if you just realized this is what you need—I encourage you to apply today. Don’t let another frustrating, lonely, and unsure day, week, month, or year go by. You and your store are worth it.
Resources
- Apply to join Master Shopkeepers today to lock in the current price & territory protection benefits!
Timestamps
- [00:56] What is a retail business mastermind?
- [01:45] Six things to consider before joining a retail business mastermind
- [10:25] How Master Shopkeepers stands out among business masterminds
- [17:31] If you’re considering Master Shopkeepers, the best time to join is NOW
