Other Links

Entrepreneurial Freedom and Freedom Interview Stories: https://bayareamastermind.com/freedom/

What is a Mastermind: https://bayareamastermind.com/about/what-is-a-mastermind/

The Power of the Master Mind: https://bayareamastermind.com/power-master-mind-napoleon-hills-think-grow-rich/

The Three Kinds of Mastermind Groups: https://bayareamastermind.com/mastermind-group-near-me/

Your Three Levers to Scale Revenue: https://bayareamastermind.com/scale-revenue-levers/

Your Freedom Number: Escaping the Rat Racehttps://bayareamastermind.com/freedom-number/

Upcoming Book Sneak Peek https://bayareamastermind.com/book/

Jeremy B. Shapiro is a serial entrepreneur, author, and mentor dedicated to empowering business founders to achieve true entrepreneurial freedom. With a career spanning over two decades, Jeremy has been instrumental in guiding small business owners from the confines of solopreneurship to the expansive realm of business ownership. As the founder and facilitator of the Bay Area Mastermind, he fosters environments where entrepreneurs collaboratively uncover blind spots, share invaluable resources, and accelerate personal and professional growth. Jeremy’s expertise is not limited to masterminding; he is also the creative force behind successful ventures such as FuseDesk and FeedBolt, platforms designed to enhance business operations. Beyond his professional endeavours, Jeremy is an avid cyclist, vegan, and adventurer, embodying a holistic approach to life and business. His passion for facilitating transformative journeys has made him a sought-after coach and speaker in the entrepreneurial community.

In this enlightening episode of Talking with the Experts, host Rose Davidson engages in a profound discussion with Jeremy B. Shapiro, a seasoned entrepreneur and ‘Master Mind’ facilitator. The conversation centres on the transformative power of mastermind groups in propelling business growth and achieving entrepreneurial freedom.

Jeremy begins by elucidating the concept of the “Master Mind,” a term popularized by Napoleon Hill, referring to a collective intelligence that emerges when like-minded individuals collaborate harmoniously. He emphasizes that many business owners often operate in isolation, leading to overlooked blind spots and stagnation. By participating in mastermind groups, entrepreneurs gain diverse perspectives, enabling them to identify and address challenges they might not have recognized independently.

A significant portion of the discussion delves into the journey from being a solopreneur to becoming a true business owner. Jeremy highlights that many entrepreneurs find themselves entrenched in daily operations, leaving little room for strategic planning or personal growth. Mastermind groups provide a platform to share experiences, learn from others’ successes and failures, and develop strategies that allow business owners to work “on” their business rather than “in” it.

Jeremy also shares insights from his extensive experience in facilitating mastermind sessions through the Bay Area Mastermind. He discusses the importance of creating a supportive environment where members feel comfortable sharing vulnerabilities and aspirations. This collective support system fosters accountability, encourages innovative thinking, and accelerates the achievement of personal and professional goals.

Throughout the episode, listeners are provided with actionable steps to leverage mastermind groups effectively. Jeremy underscores the value of asking insightful questions, actively listening, and being open to feedback. He also touches upon the significance of aligning oneself with peers who share similar values and ambitions, as this alignment amplifies the collective potential of the group.

Three Key Points from the Interview:

1. Uncovering Blind Spots Through Collective Insight:
   Mastermind groups offer diverse perspectives that help entrepreneurs identify and address challenges they may not see on their own.

2. Transitioning from Solopreneur to Business Owner:
   Engaging with peers in a mastermind setting provides the support and strategies needed to delegate effectively and focus on business growth.

3. The Role of Accountability and Support:
   Regular interaction with a trusted group fosters accountability, encourages innovative solutions, and accelerates the journey toward entrepreneurial freedom.

This episode serves as a valuable resource for entrepreneurs seeking to harness the power of collective wisdom to elevate their business endeavours.

For a deeper understanding of the mastermind principle and its application in business growth, consider watching the following video:

The Mastermind Principle (And How To Leverage It For Your Business)

Introduction of Jeremy Shapiro

• The guest for this episode is Jeremy Shapiro, a mentor and coach to entrepreneurs.

• Jeremy is a serial entrepreneur with over 25 years of experience running his own businesses.
• He helps founders find entrepreneurial freedom through structured masterminds, one-on-one coaching, and consulting work. 

Jeremy’s Entrepreneurial Journey

• Jeremy’s first real business started in high school, which had multiple customers, team members, and a defined sales process.

• Over the years, Jeremy has found gaps in the marketplace and opportunities within their own businesses, often leading to the launch of new ventures or testing out ideas to see if they have potential. 

Working In vs. On the Business

• Working in the business refers to performing the core services or trades that the business offers.

• For example, in a plumbing business, it would involve doing the actual plumbing work.
• Working on the business involves strategic activities that help grow and sustain the business, such as developing systems, hiring, planning, creating product roadmaps, and strategizing.
• To effectively work on the business, time blocking is crucial.
• This means intentionally scheduling specific times for strategic work, ideally before getting caught up in daily operational tasks.
• Jeremy recommends starting with blocking out an hour or two per week for working on the business, then gradually increasing this time as it becomes a habit. 

Delegation and Transitioning from Self-Employment to Business Ownership

• Delegation is an important aspect of freeing up time to work on the business.

• This can involve hiring team members or using virtual assistants and other outside help.
• The distinction between being self-employed and a true business owner is significant, often underestimated by many entrepreneurs.
• Self-employed individuals typically work longer hours, face more stress, take on more liability and risk, and often make less money than when they had a job.
• A true business owner has systems and team members in place that allow them to step away from the business for extended periods without it suffering.
• The litmus test for being a true business owner is the ability to leave the business for a day, week, month, or quarter, knowing it will be the same or better upon return.
• True business owners make money from both the profits of the business and their paycheck for work done within the business, whereas self-employed individuals rely solely on their direct involvement for income.
• The transition can happen intentionally or by circumstance, as illustrated by the story of a client who was forced to change their business model after a severe accident.
• Implementing technology solutions, creating systems for processes like sales estimates, and hiring specialized staff can help transition from self-employment to true business ownership.
• Hiring people who are better at certain tasks than the owner can lead to improved performance and profitability. 

Profitability and Time Investment

• Profitability and time investment are key factors in determining the effectiveness of a business owner.

• The goal is to increase profitability while decreasing the hours put into the business.
• Hiring allows for specialization within the business, freeing up the owner to focus on high-value tasks.
• There are three main ways to get tasks done: in-sourcing (hiring employees), working with vendors or agencies, or outsourcing to freelancers or virtual assistants.
• Delegating tasks like bookkeeping, customer service, and sales calls can significantly increase efficiency and allow the business owner to focus on growth and strategy. 

Growth and Networking

• Businesses typically grow in S-curves, with periods of rapid growth followed by plateaus.

• To overcome plateaus, it is crucial to seek outside help and surround oneself with like-minded entrepreneurs.
• Networking and mastermind groups provide opportunities to learn from others’ experiences and best practices.
• Having a support system of other entrepreneurs allows for sharing challenges and wins in a confidential environment.
• Jeremy emphasizes that entrepreneurship is not a solo sport but is more enjoyable and effective as a team effort. 

Upcoming Book and Resources

• Jeremy mentions an upcoming book that will provide a tactical playbook for implementing best practices in business.

• The importance of revisiting business books and resources is highlighted, as their value can change based on the reader’s current situation and needs.
• Jeremy can be found on various social media platforms under ‘Bay Area Mastermind’ and their personal name.
• Their website, bayareamastermind.com, offers articles, success stories, and information about their upcoming book and mastermind groups.
• Listeners interested in Jeremy’s book can sign up for early access and additional content at bayareamastermind.com/book.

•  Introduction of the podcast “Talking with the Experts” and guest Jeremy Shapiro, focusing on leveraging mastermind to grow business.
• Discussion on the difference between working “in” versus “on” the business, emphasizing the importance of strategic work and systems.
• Explanation of time blocking strategy to effectively manage business growth and development.
• Distinction between being self-employed versus being a true business owner, using the ability to step away from business as a key indicator.
• Case study of a business owner’s transformation after accident, highlighting the importance of systems and delegation.
• Discussion on the value of hiring specialists and delegating tasks to grow business profitability.
• Strategy for getting unstuck in business through networking and mastermind groups.
• Announcement of Jeremy’s upcoming book on business best practices and frameworks.

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