Mastermind Mastery: Business Strategies for Success

In this episode of Mastermind Mastery, host Tina Corner Stolz takes us through the intricate journey that members go through within a group. She reveals the seven stages that members experience, emphasizing the importance of understanding and guiding them through each stage effectively and efficiently. 
Tina discusses in-depth insights into the first two stages:
Stage 1: Anticipation and Hope which starts the moment they say yes to being a member and Stage 2:  Excitement and Judgment which starts when they are onboarded and attend their first meeting
Listeners will gain valuable knowledge on managing member expectations, fostering excitement, and addressing judgments, all of which are essential for enhancing member experience and ultimately increasing retention and referrals. So, tune in for a deep dive into member journey strategies that can transform your group dynamics. 
Don't forget to subscribe so you won't miss the future episodes where we cover stages 3-7
FREE resource: Member Journey Map Infographic
_______________________________________________________________
MASTER BUILDER:  8 educational tracks to teach you to become the best you can be running your business mastermind groups.  Download the tracks here:   https://tinacornerstolz.com/learning-center/
 
LICENSED PARTNER:  Engage with us at our most premium level of support, training, and certification HERE .  See why we have a 98% success rate that everyone will launch their groups
 
FIRST EVER BOOK ON MASTERMINDS:  Get your own copy of "Your Seat at The Table, How to Create and Run Your Own Peer Advisory Councils" HERE  I give away all my secrets and inside tips to being successful in running your own masterminds. Get exclusive access to checklists, templates, forms, and more resources in the book.
 
GET FREEBIES:  Download articles and checklists on the challenges of running a peer group, what makes a successful group, types of niche groups, and more here: LEARN MORE HERE
 
CONNECT WITH ME HERE:  
www.linkedin.com/in/tinacorner
www.linkedin.com/company/lxcouncil
SCHEDULE A CALL WITH TINA
_______________________________________________________________
00:00 Guide members through stages effectively for success.
04:40 Supporting new members at stage one effectively.
09:42 Resource available for download, email for support.
12:09 Introducing new member, building relationships, fostering excitement.
15:31 Influence perception, maximize strengths, introduce new members.
19:03 Encouraging members to seek group support.
21:46 Emphasize onboarding, manage expectations, and seek referrals.
 
Tina Corner Stolz Hello, everyone, and welcome to another episode of Mastermind Mastery. I'm Tina Corner Stoltz, your host. And today's topic is member experience journey. What am I talking about? What I am talking about is I realized over all the years of running groups is that members go through their, their own journey in order to experience fully what being in a group is like. Their journey starts from day one when they say yes, all the way through the years that they participate with you, they have a journey. And their journey, I believe, has seven stages. And I'm going to share with you today two of the stages of the seven. And those stages they will go through at their own pace.
Tina Corner Stolz [00:01:20]:But let me give you an example. Here's the seven stages. Those seven stages, anticipation and hope. Stage two, excitement and judgment. Stage three, awareness, confirmation. Then they go through stage four, engagement, nurture. Stage six, where they trust, that's optimized trust. And number seven, where they fully open up vulnerability, finally to that level.
Tina Corner Stolz Your goal is to get them through their stages as quickly as possible to the ultimate of vulnerability, but it's to get them through it in each of those stages effectively, efficiently, and again. Every member will go through it at their own pace. Some will actually never reach that final stage of fully opening up and a level of vulnerability that you aspire every one of your members to get to each stage exists. The question is, for how long? And I know that if you share these stages with your members and let them know what to expect and anticipate on their journey of being a member in your group, that it will eliminate stress, anxiety, uncertainty, et cetera from your member and have them have a much better member experience so that when they hit a stage that's difficult, they don't bail from you. So what I realized is that when we would go through this member journey with a new member as part of their onboarding, and if, by the way, you don't do onboarding with your members, you're missing a huge opportunity. I guess I should do a podcast just on that. So I will. I have to make a note of that.
Tina Corner Stolz But it is the chance that you will let them know you're going to stumble here, you're going to stumble that, but when you get onto the other side of it, the reward is so much higher and worth it for you that they won't, in fact, bail on you. So we realized that when we went through and created this member journey diagram, which is going to be available to all of you to download, that the retention rate not only went up but also just the member experience and their happiness went up from the participation, and they were much more engaged quickly because they understood what their journey was going to be like. If you think about other things in your life, where wouldn't it have been nice to know that this is really what I'm going to go through to get to this, how much more comfortable you would feel instead of everything being a surprise. So think of it this way. You're going to eliminate the surprise. Right. From your members. So today we're going to talk about the two, and I'm going to go through what every stage means, what to expect and what to do about it with the member.
Tina Corner Stolz And this way you can give thought as to. All right, the member is in stage one. What can I do to help them through this in a very positive, supportive way? I hope today if you're not doing onboarding, that you walk away with at least thinking about doing it. If you haven't had this conversation with your members, you do have it, particularly if you've been running groups for a long time and a new member comes in and let's say the majority of all the members in your group are at later stages, but that new member is obviously at the beginning stages. How is it that you kind of help bridge so that new member doesn't feel so far behind? So again, we're going to talk a little bit about. So as we get started with stage one, anticipation and hope. What does that mean? Right. Anticipation and hope.
Tina Corner Stolz This is when it starts. The member signs their application with you. They have said yes. So when they have said yes, they're now anticipating a positive experience or they would have never said yes. Right. So they anticipate and they have hope about what their participation is going to help them accomplish. As an owner, a senior leader, whatever it is that they do in their role, they have a vision of these are all these challenges and opportunities. And now I'm going to be able to get insights from my peers who knows really everything they're thinking about and what they're most nervous about.
Tina Corner StolzI don't know about you, but I've had members even be nervous about what to wear to their first meeting, how to dress, how much to prepare. All of that goes on in their head. But that doesn't mean they want to ask you that question, because sometimes it seems silly and they just think, well, that's just. I'm not going to ask that. Right. I don't want to look like I'm too vulnerable. So anticipation and hope. The member signs.
Tina Corner Stolz Right. Their application and because they anticipate an exceptional experience and hope again that you're going to solve with the group their copies, they're optimistic about their decisions to join. Right. Your groups, they anticipate experience that's going to help solve all their problems and capture opportunities. They expect to be with like minded peers. So again, they are hoping and anticipating that the peers, if they haven't met them, are really going to be their peers. They probably think they're so much smarter than them, they have had so much more success and that actually they're not going to be worthy to be in the meeting and there may be a little bit of impostor syndrome that's going to happen and that will show up in stages to come. What to expect? Compliance.
Tina Corner Stolz So what can you expect from a brand new member, stage one, who has this anticipation and this hope? It's a wonderful opportunity to get them to comply to everything you are wanting your members to do and that you expect through your guidelines that you have set. Like being on time, right? Like interacting maybe between the meetings, like showing up with, giving thought as to what they need from the group that day because they're unaware of the standard, because they haven't experienced it yet. The members at this stage can be extremely cooperative. This is a dream for us. I think about this all the time. It's a huge opportunity. They're on their best behavior. So what you're seeing here is their best behavior.
Tina Corner Stolz It's like a first date, right? So expect someone else to pop up later. That probably will happen. But while you got them on their best behavior, they're waiting for you to guide them through the process of deciding what to do and when to do it. Okay? So set that stage. Take advantage of their anticipation, their excitement and their hope. It's a fantastic opportunity to develop healthy habits, such as preparing them for the meeting, responding to emails, doing their homework, whatever that might be. It's now time to properly express the standards and your expectations and what people can do to get the most out of their participation in your group. Right? So take time to answer their questions and show them this journey.
Tina Corner StolzSo when we go through, like here's stage one, stage two, and again, this resource is going to be available to you to download and if you have comments and everything, I want to encourage you to email me. And I'll tell you this really quick right now at info@lxcouncil.com but you absolutely tell them in advance. Here's what you can expect. I'm here every step of the way your peers are here every step of the way, you're going to notice the peers down here in these further stages. You're going to get there. My goal is to help you get there fast, but it is a process and you never skip a stage, by the way. And when you have that and you show them this journey and establish the tone for a long lasting member experience, you are starting them off on the right foot of stage one and creating a wonderful member experience and bonding with them right out of the gate. So stage one, right? Anticipation and hope, because when they sign and they say yes, that's where they are.
Tina Corner StolzOkay. And you're going to acknowledge that. Stage two? Stage two, excitement and judgment. So what does this mean? I always find this stage interesting when I talk to others that are running groups because they don't even think about this and that this is what's going through a new member's mind. This stage is when now they're coming to their first meeting. They're excited for their first meeting, and in some cases, their first meeting could be their orientation with you. So that's one thing to think about. So let's put in the bucket both orientation.
Tina Corner Stolz That's their onboarding and their very, very first meeting that they attend. So when they experience. Right. Orientation or onboarding with you, whatever you might call it, some of people might call it their kickoff meeting, et cetera, they're learning about the members, the meeting structure, the experience, that it's a match, it's what they thought. They're now kind of confirming, right? A little bit of like, yes, this is still a good decision for me, et cetera. And remember, anticipation and hope. So you want to keep that anticipation and hope coming through into this stage two of excitement and judgment. So they're still excited this stage.
Tina Corner StolzYou know, they're thinking about all the possibilities still. But now you're beginning to transition, that they're a new member and that you're connecting them with the relationships of the existing members. So they are connected to you, most likely the most, right, because they've had the most interaction with you, et cetera. You're now starting to develop that relationship with the other members. You're wanting them to meet the other members. You're wanting them to connect. Maybe they have been assigned a mentor, maybe they met over coffee or they met your group just briefly, right before everybody made the decision that this is a good fit. So what do you expect in this stage first, and then what do you do about it? So excitement is the carryover of anticipation and hope because they're still excited.
Tina Corner Stolz They haven't been to their meeting yet, but where does judgment come from? Okay, so judgment comes when they get to their first meeting. And what do I mean by that? So first of all, you're being judged, whether you realize it or not. They're evaluating, first of all, how you're running the meeting. They're evaluating how you handle. Right. The preparation. Do you send out the meeting agenda in advance? What do you do? They're judging you and your processes, and they're making opinions about that. So don't take for granted, not telling them every step of the way why you're doing what you're doing.
Tina Corner Stolz Remember that when they go into the meeting, the structure and how it is, explaining that to them. So doing that in advance of their first meeting, like, this is how I open the meeting. This is why I do that. This is how we process what we call copies, challenges, opportunities, problems, or ideas. This is the process. Through it, you're going to notice that. You're going to notice, this is how I moderate through that process. This is how we close out the meeting, et cetera, et cetera, and explaining that to them so they know and they're not making judgments that are negative unnecessarily.
Tina Corner Stolz Right. There are numerous first impressions. So what do I mean by that? They're judging their peers. So how is that possible? Well, they get in the meeting. In the first meeting. First impressions are everything. First of all, first impression on, do you start the meeting on time? Now we're back to you. First impression about each member.
Tina Corner Stolz [00:14:55]:How do they greet them? How do they welcome them? They're listening for each member's interaction to determine if they think they're smart or not. Are these really my peers? Are they going to be able to help me? Did I make a good decision? These are smart people. These will be able to help me. Can I add value? I don't know. So that's what's happening. Is this judging? The new member is assessing the other members to see whether they can help them. They question whether the members are truly peers, wiser, more sophisticated. You get the gist.
Tina Corner Stolz So what do you do? You want to influence this perception, and you have the power to do that in order to ensure that the existing members strengths and synergies with the new members are maximized. And what do I mean by that is you want to bring out the positives, the strengths of every member around the table. When you have a new member there, whenever you introduce a new member to an existing member or a new member to your whole group, you're going to play up every single existing member. So what do I mean by that? For example, if John was joining the group for the first time in his first meeting, and let's say John has a partnership and he's in a partnership, meaning he's got partners in the business, but he's the CEO. And let's just say that his organization is a manufacturing company. And one of the challenges is they're getting ready to do an acquisition. Well, I will have probably told him about other members in the groups that also have partnerships for commonality, maybe that also have similarities to the type of industry he's in and maybe that have already done an m, a transaction or are also considering that. So in introductions, or let's just say somewhere throughout the meeting, I might be saying, john, oh, by the way, you just heard Sam talk a little bit about this relationship with XYZ company.
Tina Corner Stolz That's something that he did in regards to an acquisition, kind of like doing a venture, an acquisition, and maybe offline, you could talk to him a little bit about that. But the point is that you are building everybody up. Or you might say, sam, can you expand on that a little bit more for John on what you learned and the success that you had in that area? You are always trying to bring out the best in the members so that the existing member can understand what everybody is bringing to the table, because rarely will you have members really stand on a soapbox and toot their horn to a new member. So you have to be that catalyst as a moderator to bring that out. You, at this point, know more about everybody in the room than everybody knows about each other. Most likely, you will always know that because of the role that you play. Right. And so take that knowledge and be sure it's shared among each of the members to prevent, in stage two, a member making a bad judgment on another member.
Tina Corner Stolz That is not true. So let me go back in a quick example. I really learned this the hard way when I had new member come on board in their very first meeting, and they actually left the first meeting and they said to me, tina, I don't think this is right fit group. I just don't think these guys are at the guys. When I see men and women at the same level I am. And I knew that those members were even at a higher sophistication level than that new member. And I said, well, what makes you think that? Well, I just didn't see things talked about that I wasn't aware of. Or I just felt the conversation wasn't sophisticated enough.
Tina Corner Stolz Or point being, they made some judgment calls. And then I had to go back into what selling mode and say, well, new member, I can see how you might have thought that. However, so and so has this experience and has been successful here, and so on and so on and so on and so on until they were like, or that you will have a new member say, I don't really think I want to bring up that because I don't think anybody can help me in the group. Their making a judgment call. And I used to hate because I would say, how do you know that? What makes you think that and actually believe that no one in your group can help you with that? You don't know until you ask because you never know who they know, but you don't know every single experience they've been through. And it's uncanty. But how many times then I would get the member to bring that up and the group would help them tremendously. And I would just look at them and kind of wink and they'd be like, all right, I know you were right, but don't let your existing members get away with not bringing up something because they think somebody in the group is not going to be able to help them or the group as a whole can't help them.
Tina Corner StolzThat's judging. You have to, as a moderator, be on top alert for judging and nip it because judging means no trust. Making assumptions that you want to teach those leaders not to do that in their own business themselves. Right. And make those judgment calls unless they're accurate. So they should seek to understand and be sure before having that opinion. This is why stage two is so important of your new member getting off on the right foot so that you set it up to where they can't judge and that when they do judge, it's positively, not negatively. And that's what you can do to help them through stage two.
Tina Corner StolzOkay, so to summarize, today you have seven stages, right. It's a journey to get to that last stage of vulnerability that sometimes takes years to do. Some people get through stages one through four. Right. Fairly quickly, within six months or so, and they stall in a stage. And as I talk more through the other stages, you'll get a better feel for why that's the case. Because some of the other stages that we're going to talk about is they have to go through some tough times for them to get through to the next stage. And what do I mean by tough times? Is some tough conversations in the group.
Tina Corner Stolz All right. So, again, all I want you to take away today is onboarding and sharing with your new member what they can expect, particularly in the very beginning. But for you, as a moderator, what you have to be aware of to manage their expectations, their judgment, and keep their excitement at a high level. So with that, thank you, everyone, for another episode of Mastermind Mastery on the member journey, which will enhance your member experience. And I guarantee you increased retention and most likely referrals. Right. We always love referrals. Who does not like referrals? And you can download this resource.
Tina Corner StolzRight. And you can see it in the show notes and be able to click on that. And until next week, you guys go make it happen. And I always love spending time with you. Bye.

Join us today on Mastermind Mastery with your host, Tina Corner Stolz, and special guest, Amy Scharff, daughter of my influential mentor, Arthur Scharff. Amy shares her journey, from learning the nuances of moderating peer groups from her father to applying those lessons in the classroom as a teacher. Discover how her educational background has shaped her approach to moderating, bringing a unique perspective to the dynamics of peer groups.
If you're an experienced moderator, this episode is a must-listen, as you'll gain valuable insights into:
Understanding group dynamics and its influence on your agenda.
Striking the right balance between a structured meeting agenda and flexibility.
Customizing content through active listening and weaving commonalities among members.
Recognizing that the magic in peer groups happens between members, not in isolation.
Connect with Amy Scharff:
info@leadershipcouncilSTL.com 
LeadershipcouncilSTL.com
On LinkedIn: https://www.linkedin.com/in/amyscharff/
 
______________________________________________________________
MASTER BUILDER:  8 educational tracks to teach you to become the best you can be running your business mastermind groups. Download the tracks here:  https://tinacornerstolz.com/learning-center/
LICENSED PARTNER:  Engage with us at our most premium level of support, training, and certification HERE .  See why we have a 98% success rate that everyone will launch their groups
FIRST EVER BOOK ON MASTERMINDS:  Get your own copy of "Your Seat at The Table, How to Create and Run Your Own Peer Advisory Councils" HERE  I give away all my secrets and inside tips to being successful in running your own masterminds. Get exclusive access to checklists, templates, forms, and more resources in the book.
GET FREEBIES:  Download articles and checklists on the challenges of running a peer group, what makes a successful group, types of niche groups, and more here: LEARN MORE HERE
CONNECT WITH ME HERE:  
www.linkedin.com/in/tinacorner
www.linkedin.com/company/lxcouncil
SCHEDULE A CALL WITH TINA

In this episode, Tina Corner Stolz discusses the most effective techniques for handling situations where a member is unable to pay financial dues for a period of time or is uncertain about future payments. Our focus is on fostering long-term solutions that benefit both the member and the group without sacrificing either party's interests.
We explore strategies that ensure fairness, respect, and mutual benefit, transforming potential charity cases into triple wins. By understanding the member's perspective and desires to avoid being perceived as a charity case, we discover approaches that eliminate resentment and foster a sense of fairness and respect. Tune in to discover how to navigate these challenges while maintaining harmony and value within your group or organization.
Member Journey Infographic
_______________________________________________________________
MASTER BUILDER:  8 educational tracks to teach you to become the best you can be running your business mastermind groups.  Download the tracks here:   https://tinacornerstolz.com/learning-center/
 
LICENSED PARTNER:  Engage with us at our most premium level of support, training, and certification HERE .  See why we have a 98% success rate that everyone will launch their groups
 
FIRST EVER BOOK ON MASTERMINDS:  Get your own copy of "Your Seat at The Table, How to Create and Run Your Own Peer Advisory Councils" HERE  I give away all my secrets and inside tips to being successful in running your own masterminds. Get exclusive access to checklists, templates, forms, and more resources in the book.
 
GET FREEBIES:  Download articles and checklists on the challenges of running a peer group, what makes a successful group, types of niche groups, and more here: LEARN MORE HERE
 
CONNECT WITH ME HERE:  
www.linkedin.com/in/tinacorner
www.linkedin.com/company/lxcouncil
SCHEDULE A CALL WITH TINA
Episode Transcript:
00:00:00:00 - 00:00:27:22Speaker 1Hello and welcome to Mastermind Mastery, the podcast for professionals who want to create and run successful peer advisory councils, or as we call them PAX for short, or they're also known as peer groups or business mastermind groups. I'm your host, Tina Corner Stults, founder of Alice Council, where I've been in the industry running groups since 2005 and now help those like you with education, certification and support wanting to do the same.
00:00:27:24 - 00:00:51:24Speaker 1At one time I ran ten groups, nearly 100 members, and sold microbes for a good multiple and recently released my second book, Your Seat at the Table How to Create and Run Your Own Peer Advisory Councils, published by Forbes and Grateful to you that it's an Amazon bestseller. I invite you to join each week where we share strategies and techniques to successfully launch and become a master of running your packs.
00:00:52:01 - 00:01:11:08Speaker 1You'll hear insights, perspectives, do's and don'ts learned from my and my guests mistakes, successes, and get the inside track to key takeaways. Each time we have a guest, we'll be having a bit of fun. So are you ready? Let's get going and dive into today's episode.
00:01:11:08 - 00:01:53:09Speaker 1Hello everyone, and welcome to another episode of Mastermind Mastery. I'm Tina Corner Stolz your host and today that topic is Charity Case. What do I mean by charity case? The question today that I want you to ponder and think about is what happens when you have a member that you feel like you have to have or give charity to, meaning a member that can no longer afford the dues of membership or a member that needs a temporary reprieve of the dues because of some financial crisis.
00:01:53:11 - 00:02:20:21Speaker 1So what do you do? So I today am going to give you some out of the box thinking some ways in which you can create a win win for this scenario and also give you some ideas to consider are when the situation arises. Because every situation is unique. It's unique to where you are with your groups, it's unique to the culture of the group, it's unique to your goals.
00:02:20:23 - 00:02:42:19Speaker 1It's also unique to the culture you have built with your groups, and it's unique to what your overall. Basically values are. So today what I want to lead you through are just some things to think about, things that I have done and tried in the past, and other people that are out there writing groups that I know have done.
00:02:42:21 - 00:03:08:18Speaker 1And at the end when you have this situation or any of you that might have it today, you'll feel better about what to do. So if a member let's get started, right? So if a member can't continue to pay again temporarily, or maybe it's just you don't even know how temporary it is, but they are a right. That member.
00:03:08:20 - 00:03:39:06Speaker 1So what does that mean? They attend, they add value. There are peer leader. They have a great business. You know, they set the stage, they're helpful, all etc.. So there's many, many benefits that that member brings to the table. You also have to think about if they don't continue. What that does. So is it disruptive to the group to have a change and have someone leave, especially when they're an extremely valuable contributor?
00:03:39:08 - 00:04:00:00Speaker 1You know, do you need to take a look at and encourage to think long term versus short term? And what's the right thing to do for the members? Meaning what is the right thing to do, not at the expense of one or the other, The expensive one or the other is either at the expense of the member or the expense of you.
00:04:00:02 - 00:04:21:06Speaker 1So right thing for you and not the group is a lose when and the right thing for the members and not you is still a lose win. So today I'm going to talk about win win because many times I know in the early days of when I was running groups, I always felt like it was going to be a lose.
00:04:21:06 - 00:04:45:21Speaker 1When and how can I figure out a win win in this scenario? So let's assume you definitely want to save this member and have them still involved because it is the right thing to do. Maybe the right thing for the group, right? That you don't want that disruption. So how can you make it equitable? So you ready? Here are some ideas.
00:04:45:23 - 00:05:22:11Speaker 1One is you can offer a trade of time. Meaning maybe they can help you recruit new members. So can they refer, attend workshops, a marketing event that you might have support you in that give a testimonial at that event, Stand up, you know, share their story, etc. Maybe they can introduce you to centers of influence, right? Other people that can help you grow your group or add value to your group, whether it's through speaking or workshops or referring.
00:05:22:16 - 00:05:48:03Speaker 1Right. Again, testimonials. But let's take it a step further. Would they video a testimonial right for you that you can utilize in addition to something in writing? Or are they willing and able to step up and talk to prospects to help you move that prospect along to closing for the group? Maybe they can even be a mentor to new members.
00:05:48:03 - 00:06:15:15Speaker 1So when you have a new member on board, if maybe part of your process is you like to connect them to existing member to showcase, you know, how it is for them to get the most value out of being involved in a group. Maybe they will step up and be a mentor. Maybe they'll take the lead on a project that you might have for the group, like planning the next social or a retreat, or maybe even doing things like, I know one gentleman who's running groups.
00:06:15:17 - 00:06:41:02Speaker 1A member in this particular scenario, he raised his hand in order to do a spreadsheet to help the group track some KPIs that they were tracking. So he stepped up to create the spreadsheet. He's going to manage it. He's going to work with the members in order to input their data. Of course, the obvious is a side from time that I just talked about is financial.
00:06:41:04 - 00:07:08:09Speaker 1So what can you do financially if they already can't pay their dues? Well, there are lots of options that you can do. So, for example, so they don't feel like a charity case because let me stop for a minute and spend a moment on this. If a member can't pay, they already feel bad coming to you to even tell you that, because why?
00:07:08:12 - 00:07:42:12Speaker 1Well, if they can't pay, that means something's wrong with the business and they have to own up to that. They're probably embarrassed as well, because to get to that point is probably a point that is extremely uncomfortable for them. And it's probably been something they've been struggling with for a while until they finally now have to come to you and ask for either the fact that they need to leave because they can't pay or just to have a conversation with you about it.
00:07:42:14 - 00:08:02:07Speaker 1So, first of all, no one wants to be a charity case. They want to pull their weight. And if they can't pull it financially, where else can they pull it in any of those other ways I just went through in regards to time. But the one thing I want you to think about is if you were in their shoes, how would you feel?
00:08:02:09 - 00:08:29:23Speaker 1Because this will help you come up with a win win scenario. What would you want to do if you were the tables turned in the scenario where you couldn't pay a vendor that you valued? Right? And you are in a great place where you are the one running your business, running your groups. Okay, You can make that decision.
00:08:30:00 - 00:09:12:02Speaker 1You are the CEO of running your groups, so you have the wherewithal and the power to do what you believe is a win win. So when it comes down to financial sell as an option, keep in mind that that member doesn't want to stay on board and not not feel like they're still contributing to their membership. So when it comes as an option of money, some things for you to think about is that I've used so many times in the past when this is the case is I say, okay, let's talk about some options.
00:09:12:04 - 00:09:42:03Speaker 1What would you pay that will not cause you stress? I don't want you to chase something that is going to cause stress, which is the reason we're having this conversation, but paying something. Let's take a look at that and you're quiet because I will tell you, whatever you have in your head as far as what would be a win win for payment.
00:09:42:05 - 00:10:04:17Speaker 1Most of the time they have a bigger number. So throw it out there. What could they do? And whatever it is. And first of all, by the way, every time you do that, they will typically probably come back and ask you, well, what do you think? And I will never answer. I don't know. I don't know the detail and the severity and the situation that you're in.
00:10:04:19 - 00:10:40:17Speaker 1This is you. I will tell you that I will not be offended by anything that you tell me. I just want it to be the right number. So that is important to articulate. You might be offended. I think the number that comes out, but you want the real number. And the way to get that is to let them know that you're really seeking genuinely and know what that number is, because at least that's a starting point of a place for you to be able to work from.
00:10:40:19 - 00:11:14:22Speaker 1So let's say for example, for easy numbers that your your monthly membership dues are $1,000. And I asked this question to that member and they might say, well, $200. So then at that point you have to have further conversation. Okay. And say, okay, so $200 So what is your thought about how long that you feel you're going to need to be able to pay that reduced amount of $200?
00:11:14:24 - 00:11:39:08Speaker 1And I want you to be conservative. So two things. It can come back to tell you. One, they don't have a clue. Okay. Or two, they will say, I'm pretty confident it's just a 90 day window. Okay. So now you have a decision to make. If it's a 90 day window, are you going to be happy with that $200 for 90 days?
00:11:39:13 - 00:12:00:13Speaker 1So are you happy with the fact that you're going to leave on the table 800 a month for three months? Is that worth it to you? Because what you're weighing is opportunity cost. If you say no and that member has to leave, you have to replace that seat. Can you do it in that amount of time? Do you have somebody already in the wings to do that?
00:12:00:15 - 00:12:20:14Speaker 1And is that for the best thing for the group in addition to you? So if you don't have a new member ready to go in, you're going to have a vacant seat and you're going to lose that thousand dollars anyway until you have that new member that comes on board. You got to think that through and back to
00:12:20:16 - 00:12:46:01Speaker 1the other aspect would be the impact on the group of switch out. It could be positive, but we're back to the original question is, is this a member that you want to save? And it's valuable to do so for the long run. We're thinking here about the long run, not the short run. You're running a business, you are the CEO.
00:12:46:03 - 00:13:15:24Speaker 1You in making a decisions, are wrapped around both a short term and long term decision. I'm encouraging you to think about it being a long term decision because membership is long term. Membership in your group is strategic for them. It is for their life, ideally, right the whole time. And they're running the company. They have built this in as the key strategy of their entire initiatives as a company.
00:13:16:05 - 00:13:39:24Speaker 1For that CEO to be in your group. So it's a long term play and if you're trying to instill that mental methodology philosophy with your members, this is a great way that does that because you're in it for the long term. And if you show them you're in it for the long term, they will act and be in it in the long term for you as well.
00:13:40:01 - 00:14:07:01Speaker 1So now we're back to what if they said, I don't know how long it's going to take. Okay. So a tactic here for a conversation to go like this is. Well, if you don't know, how about if we do this, $200 a month is good. We're going to go with that in 90 days. I'm touching base with you and we're going to talk about how things are going.
00:14:07:03 - 00:14:28:09Speaker 1You still feel good about the $200 and how are things looking? Do you think you'll be able to increase that $200 and bridge the gap between that and a thousand? Will you be able to jump to the $1000 right away? I don't know. But you set a date or a check in. It takes the pressure off of how long is this going to last?
00:14:28:11 - 00:14:44:10Speaker 1How do I get an update? I just call them. If I just call them, they're going to know this is what I'm following up on. You take all of that off the table to pick a date, put it on the calendar when you're going to check in on how things are going and then you let it go. You don't have to think about it anymore.
00:14:44:10 - 00:15:12:15Speaker 1And neither do they. But the other thing is that you can do is say, okay, for $200 and go back to those non financial possibilities of great and can we do this to bridge that $800 gap. Would you help me do this this, this and this to help build the business? I could really use your help. That would mean a lot to me.
00:15:12:17 - 00:15:41:07Speaker 1That's how you can bridge that gap. Another tactic that I have used is say, okay, $200. Do you think that you could do $200 and then maybe next month do $250 or maybe and then the next month and kind of do some sort of ramp. So if that number they give you is really low for you, try to ramp conversation.
00:15:41:09 - 00:16:17:07Speaker 1But again, you're not trying to create a ramp up that becomes so uncomfortable, you're back to square one, then you haven't really accomplished a whole lot. But it works. You can also say, can we roll that $800 for three months and spread it out over a year period of time where you can gain back what you've lost? So when they're back to being able to pay regular dues of a thousand, maybe instead they pay $1200 for a period of time, get me? Are you following?
00:16:17:09 - 00:16:53:12Speaker 1So it allows you to recoup your money. Granted, you have to decide if you're going to throw an interest in there or not. But what you do is you work out a better word, a future payment plan when they're back on their feet and they're successful. So the biggest key, though, is, is setting the date for the follow up and to check in how it's going, because, number one, the last thing that you want to have happen, which I have had happen to me, which then if I didn't set the date, which is what caused me this scenario to set dates for the future, is that when I followed up like 90 days later, the
00:16:53:12 - 00:17:19:02Speaker 1member was like, yeah, yeah, I am so sorry. I could have started paying you last month. Are you kidding? Like, where's the respect here or from a member that you have put financially right on this kind of a charity case and they show up to their meeting in a brand new car? Yes, I have had that happen.
00:17:19:04 - 00:17:38:21Speaker 1And how much you just want to go, what in the heck? But again, you have to like talk to them because maybe the car came about for some bizarre thing. It had nothing to do with the fact that you don't have the money to pay, but it's just not a good impression. Right. And it makes you resent the member.
00:17:38:21 - 00:18:04:20Speaker 1So you want to take responsible resentment off the table? Completely off the table. So today, I hope what you're walking away with are some non-financial tactics, some financial strategies. And I'm sure out there many of you have some other ideas. And if you do, we would love to hear them. So then we can share them with our whole audience.
00:18:04:22 - 00:18:31:18Speaker 1Your experience in regards to what you have done when members suddenly can't pay their full dues, but you want to keep them as a member and create a true when when so you feel good about it, The member feels good about it, and you can concentrate your mindset and your mind capacity on continuing to run excellent meetings for the best member experience.
00:18:31:20 - 00:18:45:01Speaker 1So thanks today for joining Mastermind Mastery and I look forward to next week seeing you guys all again on another episode. And until then, go make it happen.
00:18:45:01 - 00:19:14:14Speaker 1Hey, moderators of groups. Thank you so much for listening to today's podcast. To get access to today's show notes and exclusive content and resources, visit Tina Corner. Stoltze Tor.com Backslash podcast or elect's council dotcom, where you can also become part of an exclusive online community. Attend our academy or get free resources, templates, checklists and more. And you can even contact me there as well.
00:19:14:16 - 00:19:39:13Speaker 1So if this episode resonated with you and you know someone who can also benefit from listening, please share with them by taking a screenshot and even posting on your social media. I also love reviews and appreciate hearing from each of you those actually doing this wonderful work. Please tune in next week for another episode of Mastermind Mastery and I'll close by sharing something my mentor did.
00:19:39:13 - 00:20:07:23Speaker 1After every learning moment, he shared a shiny pebble from his pocket with anyone he passed knowledge to and asked them to forward that pebble knowledge on. So now I encourage you to go case on a pebble. The takeaways you learned today to either your existing groups or fellow peers. Now go make it a great one.
 

Have you faced challenges with your team members not following through on commitments, struggling with punctuality, or lacking presence? We've got you covered!
In this conversation, we unravel the intricacies of:
Teaching accountability on an individual level
The subtle yet powerful difference between being 'nice' and 'kind' and how it plays a pivotal role in fostering accountability within a group. 
Can accountability be learned? 
How contrary to popular belief, not all conversations about accountability have to feel like punishment
Tune in to hear us discuss the fundamental definition of accountability, its numerous benefits, and practical techniques to drive increased accountability among your team members. Our goal is to inspire you to take the right actions and create a more accountable and efficient work environment.
After listening to this episode, you're guaranteed to walk away with fresh insights and newfound motivation to foster a culture of accountability.
 
Kevin G. Armstong, Author, EOS Expert Implementor, TEDx talk, Speaker
themiraclemanager.com / www.kevingarmstrong.com   
Link to Kevin's TEDx talk  Stop Sending Ducks to Eagle School | Kevin G. Armstrong | TEDxTrinityBellwoods (youtube.com)
Connect with Kevin on LinkedIn | Kevin G Armstrong
_______________________________________________________________
MASTER BUILDER:  8 educational tracks to teach you to become the best you can be running your business mastermind groups.  Download the tracks here:   https://tinacornerstolz.com/learning-center/
 
LICENSED PARTNER:  Engage with us at our most premium level of support, training, and certification HERE.  See why we have a 98% success rate that everyone will launch their groups
 
FIRST EVER BOOK ON MASTERMINDS:  Get your own copy of "Your Seat at The Table, How to Create and Run Your Own Peer Advisory Councils" HERE  I give away all my secrets and inside tips to being successful in running your own masterminds. Get exclusive access to checklists, templates, forms, and more resources in the book.
 
GET FREEBIES:  Download articles and checklists on the challenges of running a peer group, what makes a successful group, types of niche groups, and more here: LEARN MORE HERE
 
CONNECT WITH ME HERE:  
www.linkedin.com/in/tinacorner
www.linkedin.com/company/lxcouncil
SCHEDULE A CALL WITH TINA

Today, hear from Tina Corner Stolz on Mastermind Mastery and discover the reasons why many shy away from price increases and learn how to overcome the challenges. Whether you're hesitant, stressed, or unsure about justifying it, this episode provides a guide for serious peer group business owners. 
Explore the strategies for justifying a price increase, knowing the right timing, implementing best practices, determining the optimal amount, and effectively communicating with your members. Lastly, find out the negative impact of avoiding price increases; it might not be what you expect. 
_______________________________________________________________
MASTER BUILDER:  8 educational tracks to teach you to become the best you can be running your business mastermind groups.  Download the tracks here:   https://tinacornerstolz.com/learning-center/
 
LICENSED PARTNER:  Engage with us at our most premium level of support, training, and certification HERE .  See why we have a 98% success rate that everyone will launch their groups
 
FIRST EVER BOOK ON MASTERMINDS:  Get your own copy of "Your Seat at The Table, How to Create and Run Your Own Peer Advisory Councils" HERE  I give away all my secrets and inside tips to being successful in running your own masterminds. Get exclusive access to checklists, templates, forms, and more resources in the book.
 
GET FREEBIES:  Download articles and checklists on the challenges of running a peer group, what makes a successful group, types of niche groups, and more here: LEARN MORE HERE
 
CONNECT WITH ME HERE:  
www.linkedin.com/in/tinacorner
www.linkedin.com/company/lxcouncil
SCHEDULE A CALL WITH TINA

Explore the intricacies of leaves of absence, from distinguishing between legitimate and bogus requests to crafting effective policies on today's episode of Mastermind Mastery with Tina Corner Stolz. 
Discover the steps to take when you receive a leave request
How to weigh the pros and cons
Deciding whether to charge or provide refunds
Keeping members engaged during their absence and seamlessly reintegrating them into meetings upon their return. 
If you're looking to refine your leave of absence policy or create one from scratch, we've got you covered with our Leave of Absence Form
 
_______________________________________________________________
MASTER BUILDER:  8 educational tracks to teach you to become the best you can be running your business mastermind groups.  Download the tracks here:   https://tinacornerstolz.com/learning-center/
 
LICENSED PARTNER:  Engage with us at our most premium level of support, training, and certification HERE .  See why we have a 98% success rate that everyone will launch their groups
 
FIRST EVER BOOK ON MASTERMINDS:  Get your own copy of "Your Seat at The Table, How to Create and Run Your Own Peer Advisory Councils" HERE  I give away all my secrets and inside tips to being successful in running your own masterminds. Get exclusive access to checklists, templates, forms, and more resources in the book.
 
GET FREEBIES:  Download articles and checklists on the challenges of running a peer group, what makes a successful group, types of niche groups, and more here: LEARN MORE HERE
 
CONNECT WITH ME HERE:  
www.linkedin.com/in/tinacorner
www.linkedin.com/company/lxcouncil
SCHEDULE A CALL WITH TINA

In this insightful episode, join us as we sit down with Tina Corner Stolz and veteran moderator Mark Weston, based in Alexandria, VA, who has been orchestrating successful virtual retreats for senior leader and key executive groups. Mark shares valuable insights into the process of initiating and evolving retreats, as well as the benefits reaped by including them in the membership experience.
Uncover Mark's approach to persuading his group to embark on their first retreat
Explore how senior leaders navigated the process of gaining CEO approval for time off and financial support for the retreat
Gain insights into the specific format Mark employs for his retreats
Understand how the senior leader group evolved after the initial retreat, 
Discover the tangible benefits experienced by group members due to the inclusion of retreats
Guest: Mark Weston, Alexandria, VA
markw@lxcouncil.com 
Connect with Mark Weston on LinkedIn Here
____________________________________________________________
MASTER BUILDER:  8 educational tracks to teach you to become the best you can be running your business mastermind groups.  Download the tracks here:   https://tinacornerstolz.com/learning-center/
 
LICENSED PARTNER:  Engage with us at our most premium level of support, training, and certification HERE .  See why we have a 98% success rate that everyone will launch their groups
 
FIRST EVER BOOK ON MASTERMINDS:  Get your own copy of "Your Seat at The Table, How to Create and Run Your Own Peer Advisory Councils" HERE  I give away all my secrets and inside tips to being successful in running your own masterminds. Get exclusive access to checklists, templates, forms, and more resources in the book.
 
GET FREEBIES:  Download articles and checklists on the challenges of running a peer group, what makes a successful group, types of niche groups, and more here: LEARN MORE HERE
 
CONNECT WITH ME HERE:  
www.linkedin.com/in/tinacorner
www.linkedin.com/company/lxcouncil
SCHEDULE A CALL WITH TINA

Learn the power of the annual member/group audit—an exercise that sets the tone for success in the coming year today with Tina Corner Stolz on Mastermind Mastery. Join us as we explore the reasons behind conducting an audit, weighing the pros and cons, and navigating the sometimes daunting terrain of candid feedback from your members.
Discover practical insights on:
Conducting a comprehensive audit
Overcoming the fear of candid feedback
Utilizing resources like the 8 characteristics of a high-functioning team
Implementing start, stop, and continue exercises
Managing the absence of a member during this crucial evaluation
We'll also share a valuable resource, the 8 characteristics of a high-functioning team from Dr. John Townsend's book "People Fuel," and discuss how it serves as a benchmark for self-assessment and group performance ranking. Don't miss out on this guide to fostering a thriving, cohesive team.
LXCouncil Comrades Group Health Exercise
_______________________________________________________________
MASTER BUILDER:  8 educational tracks to teach you to become the best you can be running your business mastermind groups.  Download the tracks here:   https://tinacornerstolz.com/learning-center/
 
LICENSED PARTNER:  Engage with us at our most premium level of support, training, and certification HERE .  See why we have a 98% success rate that everyone will launch their groups
 
FIRST EVER BOOK ON MASTERMINDS:  Get your own copy of "Your Seat at The Table, How to Create and Run Your Own Peer Advisory Councils" HERE  I give away all my secrets and inside tips to being successful in running your own masterminds. Get exclusive access to checklists, templates, forms, and more resources in the book.
 
GET FREEBIES:  Download articles and checklists on the challenges of running a peer group, what makes a successful group, types of niche groups, and more here: LEARN MORE HERE
 
CONNECT WITH ME HERE:  
www.linkedin.com/in/tinacorner
www.linkedin.com/company/lxcouncil
SCHEDULE A CALL WITH TINA

Join Tina Corner Stolz with Steve Ramerini, founder of Compel CEOs, as we dive into the world of member experiences and attracting new members. With a wealth of experience since 1999, Steve shares his successful event strategy, covering aspects such as securing sponsors, pricing, event format, frequency, and essential do's and don'ts for a thriving gathering.
Gain valuable insights into adapting event planning post-COVID and discover when to start preparations. Steve's unique takeaway involves leveraging event speakers for podcast recordings, a powerful tool for promotion and added value to both members and prospects alike.
Don't miss this episode for a masterclass in event success from a seasoned leader.
 
Guest: Steve Ramerini 
Connect with Steve on LinkedIn HEREContact : Stever@compelceos.com  
Website: compelceos.com
_______________________________________________________________
MASTER BUILDER:  8 educational tracks to teach you to become the best you can be running your business mastermind groups.  Download the tracks here:   https://tinacornerstolz.com/learning-center/
 
LICENSED PARTNER:  Engage with us at our most premium level of support, training, and certification HERE .  See why we have a 98% success rate that everyone will launch their groups
 
FIRST EVER BOOK ON MASTERMINDS:  Get your own copy of "Your Seat at The Table, How to Create and Run Your Own Peer Advisory Councils" HERE  I give away all my secrets and inside tips to being successful in running your own masterminds. Get exclusive access to checklists, templates, forms, and more resources in the book.
 
GET FREEBIES:  Download articles and checklists on the challenges of running a peer group, what makes a successful group, types of niche groups, and more here: LEARN MORE HERE
 
CONNECT WITH ME HERE:  
www.linkedin.com/in/tinacorner
www.linkedin.com/company/lxcouncil
SCHEDULE A CALL WITH TINA

Prepare for our most controversial discussion yet with Tina Corner Stolz on Mastermind Mastery! Learn why you should discard traditional metrics like revenue and employee count when qualifying prospects for your group. Discover the two most beneficial qualifiers I propose, and understand how they not only enhance retention and member experience but also hint at a boost in your close ratio. Get ready to reshape your approach and witness unprecedented success! 
____________________________________________________________
MASTER BUILDER:  8 educational tracks to teach you to become the best you can be running your business mastermind groups.  Download the tracks here:   https://tinacornerstolz.com/learning-center/
 
LICENSED PARTNER:  Engage with us at our most premium level of support, training, and certification HERE .  See why we have a 98% success rate that everyone will launch their groups
 
FIRST EVER BOOK ON MASTERMINDS:  Get your own copy of "Your Seat at The Table, How to Create and Run Your Own Peer Advisory Councils" HERE  I give away all my secrets and inside tips to being successful in running your own masterminds. Get exclusive access to checklists, templates, forms, and more resources in the book.
 
GET FREEBIES:  Download articles and checklists on the challenges of running a peer group, what makes a successful group, types of niche groups, and more here: LEARN MORE HERE
 
CONNECT WITH ME HERE:  
www.linkedin.com/in/tinacorner
www.linkedin.com/company/lxcouncil
SCHEDULE A CALL WITH TINA