VRS182 – How to Create a Vacation Rental Mastermind Group With Ellory Wells

As we saw at the recent Vacation Rental Success Summit, getting together can be the start of something awesome. We saw owners and managers deep in conversation and hopefully they went onto exchange contact details and promise to stay in touch.

We all know that when the busy-ness of business takes over, that these intentions can often get filed away, along with the business cards, and often it’s not until the next event that people reconnect and recall the buzz of motivation that networking can bring.

Starting a Mastermind group is one way of keeping together long after the energy and group-hype of a conference has died away. We’ve heard about them, and perhaps you’ve considered joining one, but if you’ve never taken the leap to organise a group you might not have experienced the power that binds these groups together.

The expression as it relates to groups was coined by Napoleon Hill in Think and Grow Rich. He described a mastermind ‘alliance’ as:

“A friendly alliance with one or more persons who will encourage one to follow through with both plan and purpose.”

He believed that when two or more people come together in a friendly environment, for a particular purpose, there’s a powerful element of creativity and support, that individual endeavours cannot emulate.

With this in mind I wanted to find someone who was thoroughly experienced with Mastermind groups who could explain exactly what they are, how they work, and what it takes to get a successful group formed, and maintained.

Ellory Wells is a a business coach to entrepreneurs and he joins me to share his wisdom on creating and running a successful group. Those who were at the Vacation Rental Success Summit may have chatted with Ellory, as he was there to support one of his clients, Jason Beaton who was giving a presentation on digital marketing. Ellory wrote a great post after the event that really summed it up – We’re More Alike Than Different

In this episode Ellory talks about:

  • What a mastermind group is and where the concept came from
  • How joining a group can benefit a vacation rental owner or manager
  • Why it may be beneficial to include people outside the industry
  • The general rules of running a successful group
  • How to ask people if they want to join
  • The two essentials for Mastermind success
  • The common reasons for a Mastermind to fail
  • The best platforms to run a group on
  • Why it doesn’t have to be all business all the time
  • General tips on getting a group started.

To download Ellory’s guide to creating a successful Mastermind go to ellorywells.com/heather

Links mentioned:

Ellory Wells Mastermind Weekend

Think and Grow Rich – Napoleon Hill

Zoom.US (Meeting Platform)