Two important pieces of the Supernova acquisition model are building strong niche markets and creating mastermind groups. Listen to Rob Brown and Rob Knapp discuss a great way to combine these strategies for even more success.
Building a niche based mastermind group
Here is a brief overview of the main points we cover in this recording:
A niche-based mastermind group was a breakthrough that we made almost by accident. We were teaching mastermind groups and we were teaching niche marketing. One of our students said, “I was just introduced to a mastermind group who focused on doctors that are selling their practice.” He said it was unbelievable.
He went on to describe what happened: “I went to present the idea of a mastermind group to a CPA. He told me it’s so interesting that I brought this idea to him because he just started a mastermind group and was looking for a financial advisor.” This was a group designed to help doctors when they sell their practices. For example, they had a person to do the business evaluation, a lawyer who would draw up the papers for the sale, a realtor that would be involved in the sale of their present location and a CPA who specialized in helping doctors with their practices who understood their tax problems associated with the sale of a practice. They didn’t have an expert on what to do with the proceeds from the sale. You can imagine the FAs excitement telling me about the opportunity he was given.
This then became an off-shoot of the way we coach on forming mastermind groups, a combination of the mastermind with a niche market. We call it a niche mastermind. The idea is to identify other professionals that service the same market as your niche…the CPA, the attorney, the business manager or consultants, the people who know the ‘ins and outs’ of that business. For example, it could be a group around car dealers. Who are all the people who service car dealers in your community… the people who help with the financing of cars, people that do their accounting, the lawyers, etc? You pick your niche and think about all those other professionals.
That’s why we say you can create multiple mastermind groups. Normally, we want you to have 2 niche markets and 1 mastermind group, but you could have a mastermind group for each niche plus your general mastermind group. That would give you a tremendous opportunity to not only to know your niche better, but also know the people who serve your niche. You market each other to people that fall inside that niche. That’s it in a nutshell. It’s really a fun idea that I’m looking forward to having other people adopt and hear more success stories.