Today we’ve got the founder of the 7 figure circle “Million Dollar Mastermind,” Frederick Bussey. We learn how his educational upbringing helped shape him at a young age by homeschooling and instilling his early entrepreneurial drive. He talks about how we’re going through a big shift not only in the middle class, but how COVID is accelerating the change of education as we know it. We get into how you can learn to educate yourself to learn what is true and valuable.
UNTRADITIONAL WAYS OF LEARNING
The Mastermind Effect: Let’s rewind a little bit and talk about education and learning. The ability to have access to ways to learn today has drastically changed over the last 5, 10, 15 years. When we were younger, we learn from textbooks, our teachers, our friends, and eventually, the people that we work with. But that’s only like a sliver of what’s really possible. How has your learning changed from your early years versus today?
Fredrick Bussey: So I’m going to tell you something that’s interesting. I don’t know that it has. And I think that’s a good thing, because my learning experience was very different. Growing up, my mother homeschooled myself in my siblings for all 12 years. And because she was an elementary school teacher, she had the background to actually create a school environment for us in our home, and yet, not with a traditional school model. In other words, she tailored it around each of us. And so she would make lesson plans for the week. And then I had the ability to go through and, and do my own pace. But she had to stop me, she had to start doing it day by day, because otherwise I would do the entire week in like a couple of days and then have nothing else to do. So I could finish all my schoolwork by noon, and then I could be off doing whatever else I wanted to do. And so it kind of set that self-motivational factor for me going in. And I think it paid off.
Over the years as I got curious about doing other things, especially about entrepreneurship, it allowed me to be able to take that risk, because I was not tied to traditional model of thinking of learning and needing permission from somebody else to do certain things. It was all still kind of ingrained in me. However, I did go to college. And so there was a little bit of that regimented thinking. But overall, I believe if anything came out for me from that shift was that I felt more empowered to take more ownership as I got older. And so certainly, especially in the last seven to 10 years, YouTube University, podcasting, diversity has been my best friends, just in terms of being able to search and find information on anything that I want to know and even things that I didn’t know I wanted to know. So for me, it’s been a rich kind of experience.
The Mastermind Effect: Wow. And think about how that really correlates to today. Obviously, the pandemic is still going on, and the children today are taking in information more virtually through Zoom. By having that home environment, I mean, I can how it enriched you and how it gave you the power to continue to be who you are. That’s amazing.
Fredrick Bussey: I think I’ve set me up perfectly for being an entrepreneur and even for parenting. Now, I’ve got three young ones. And we’ve been homeschooling our oldest for the last couple of years. And it’s allowed us to be able to tap into her own uniqueness. And also, it’s, I think it’s helped to accelerate the learning of her siblings, because she’s eight, the next youngest is four, and my baby is two. And so they’re able to kind of absorb the things she’s able to turn around and teach them things which helps strengthens her own learning and her own ability to learn which we all know that when you teach others, it helps to cement the information and the knowledge in your own head. And so I think that we’re at a pivotal time, it may actually be one of the great things that comes out of the Coronavirus in that people start to discover the power of your home environment to nurture your children’s learning.
A lot of parents are being challenged around that. There’s a joke going around it, when your parents can’t wait for their kids to go back to school. Because they realize how valuable teachers are. But there is a role that parents play in educating their children, I think that if parents are open to embracing that aspect of it, they realize that there’s a lot more value that they can give their child than they ever really imagined.
The Mastermind Effect: So let’s talk about how we’re taking in information. Now, we can take in more information than ever before in history. The amount that’s available to us is just endless. So, I realized that, who I learned from, who I can take in information from, who I find that holds me accountable has changed over time. Who are you currently learning from? And how did you find them?
Fredrick Bussey: There are probably multiple sources, right? So one of the things I do as a coach, you know, I believe it’s integral and imperative that coaches have coaches. And so I have a coach as a husband and wife team. My coach is guiding me through the process of being a better coach in the business side of coaching as well. And so they provide a ton of value for me in that regard. And then there are other people that I’ve learned from, simply by observing or reading their books and things of that nature. It’s possible to get mentorship and coaching from people from afar, through YouTube University, through different courses I’ve subscribed to.
I couldn’t even tell you how many different email lists of people because I’m learning different things and gleaning from it. I’ve always been addicted to reading. And so it can work against me in the email box. If you look at my unread email list, and it’s insane, but I’m learning from a lot of different people. There’s coaching, there’s finance, there’s entrepreneurship, there’s business, there’s just so many different people that you can learn from, there’s also a lot of books for everyone.
The Mastermind Effect: Yeah, and a lot of the value that they give, or that they share is free. They sit there and they want to have an open source you’re able to access. The one thing that I found through the interviews is there’s not just one person that you go to, you’re like, I get all my knowledge from this one place. It’s like, now I’ve got my coach here, got my mentor here, my accountability person here. I’ve got this here, and you’re taking it in from all different segments. And I think that’s important. Absolutely.
Fredrick Bussey: You’ve got to be diverse, because the different types of information that you get, you’re going to receive it in different ways, right? And so, it’s not always clear the way that one person says it. Someone else may talk about the exact same topic and in fact, a lot of these gurus and teachers and coaches say a lot of the same things. But they give a different perspective on it, they have a twist in their own story or experiences that they’ve had. So that kind of gives you a different texturizing of that information. You’re able to see it in different lights.
I think that’s important, especially when you’re talking about entrepreneurs, because it allows you to be able to not just theorize it, you can also take it and apply it in different situations, even when you have not necessarily have that direct experience. But because you’ve been able to see, oh, this person had a similar experience, I can take that little nugget and put it with this, and combine it and then it creates an exponential amount of value. Whereas instead of one, in one way, if you only get it from one teacher, if you don’t encounter that exact situation, you’re bumping up against the wall, because now there’s a whole new world.
The Mastermind Effect: Yeah, that’s the great thing about entrepreneurship and working with people that aren’t always in the same industry. You hear them, and you can insert their experience and their knowledge and all of a sudden, it expands what you’re able to do. So let’s talk about what we’re able to do. And sometimes, what we’re not able to do, I feel that sometimes we get stuck. A lot of the time it’s because we play in our own head, and it’s not a good place to be. Right? We’ve recently and we’re still going through a pandemic. And I believe that this is creating a reset in what’s able to actually be accomplished. How have masterminds helped you when you’re looking to reset yourself and get unstuck?
Fredrick Bussey: So think about the word unstuck, right? It literally means motionless, you’re having an inertia in your life, in your business, whatever the case may be. And we literally almost had an economic and social inertia happen. We were stuck in the house, literally, for weeks, almost months at a time. Some people are still stuck. And so that lack of inertia means that there has to be some sort of a force to get you going again, it’s about energy. Even mindset is an energy. Right?
When you are depressed or feeling stuck, your mind isn’t really moving. It’s kind of in an idling loop, so to speak. And so the power of a mastermind is that you are able to harness the power of other people’s minds, the other people’s momentum, and their activity, and they can motivate you. Right? It challenges you. It pushes you if you feel uncomfortable, because other people are being successful, and you’re not, that’s a good thing. Because it lets you know that you’re not content.
Now you can ask questions that can spark ideas that can spark action, which can spark momentum, which is what we’re all after. Because every business is just after momentum, we’re trying to pick up speed we’re trying to activate, we’re trying to get going. And that’s the beauty of a mastermind is that you’re around other like-minded people that are becoming sort of a hive mind. And they’re creating this activity. They’re creating these ideas, they’re creating possibilities. And so that’s exciting. And believe it or not, entrepreneurship in a way has its own form of entertainment, in that it thrills you, it gives you this high, when you are creating something which I believe that’s where we’re all supposed to be. And when we’re showing up at our highest self, we are in creativity, we are coming up with new ideas, innovative ways of doing things and saying things and becoming. And so that to me, that’s the hidden secret of a mastermind, a lot of people look at it well. Am I going to get this knowledge or I’m going to make this amount of money? But the hidden secret really is about the energy that is created. Because you are around this power of possibility all the time.
MASTERMINDS AND SELF-EDUCATION
The Mastermind Effect: So, continuing on masterminds, they’ve been around for a long time. The apostles to Benjamin Franklin, to Napoleon Hill, who wrote the book that kind of allowed people to understand, you know, what masterminds were. Recently, I feel like there continues to be this huge boom of self-education, over traditional education. Where do you really see it going over the next 5 to 10 years?
Fredrick Bussey: I think it’s going to explode and I think it’s going to explode out of necessity. What we are experiencing through COVID is unprecedented in our lifetime, and in several lifetimes, really. I was listening to radio Dalio talks about the fact that you know, every 100 years or so there is a significant cultural change/shift in society, where the world is no longer how it was before.
And so we kind of saw that before COVID, it was the Industrial Revolution. After that, it kind of led into the world wars. And then we came into this new modern society were the middle class was born. And I think that it’s probably going to accelerate that a lot of people are still hoping that things go back to the way they were. And I don’t believe that that’s probably possible. I don’t think it’s ever possible.
This shift has been happening so rapidly, right? In other words, there were things that were coming down the pipeline in 10 to 20 years anyway, but it just accelerated everything and compressed it into a few weeks. And so we saw companies that have been around for centuries die, right, and we’re going to see a lot of universities die over the next year or two. We’re going to see towns die, because they’re built around these universities. And it’s sad, but it’s true, because people’s inability to accept innovation and accept the future is directly tied to their ability to learn and educate themselves.
There was a quote a year ago, I think it was from Paul Graham, and it talks about he was teaching his son that one of the most important skills in the new century is going to be the ability to unlearn and learn new skills, right. And that ability is tied to the fact that you have to believe that you have the power to learn something new, and to recreate your life. And those who can accept that, those who are exposed to and embrace that mindset, are going to be poised to do so much better in the future than those who are not.
The Mastermind Effect: Yeah, absolutely. I mean, the only thing that is that is constant in life is change. Right? Things are bound to change, and the minute you get comfortable, you’re going to kill yourself. And I’m not saying literally, I believe that comfort kills. And that’s why you know, surrounding yourself with people like yourself, and all these other amazing people that want change to happen. You’re ready to embrace it. It’s like, Hey, listen, the death of the small business, the death of the college, and what do you actually do with it, we can sit there and we can curl up, or we can sit there and be like, this is opportunity, when am I going to seize it? When am I going to make that change?
Yeah, and it’s so utterly important to have more people like you and, and me and all the amazing people that you know, that are out there that want to make that change happen. So, you know, typically, when someone invest in their future, they have a better than vague idea of what they’re going to get out of it. We will have an expectation, I would say of what the outcome is going to be. Right? What should people expect when they enter Frederick’s reality?
Fredrick Bussey: I’m going to expose you to what is possible for you. Right? The more I coach, the more I have conversations with people, I realize the limits that we place on ourselves. And I think that one of my gifts is the ability to see what is possible for other people, and then to be able to help them to translate that and create that for themselves. And one of the things that actually breaks my heart is when I look at people and I hear them say, “I can’t do that, you know, I don’t I don’t have the money. I don’t have the time. I’m not smart enough.” And I just I want to introduce them to the better version of themselves that exists inside them already. But they just have never met that person. They’ve never met that gift. They understand because they haven’t been exposed or they’ve been taught a program negatively. So when you come into my world, I’m going to introduce you to the world that exists around you that is possible for you.
The Mastermind Effect: Let’s kind of continue down that journey of the people that enter your world. I think there’s always new ideas brewing during prosperity. But I think true innovation and ingenuity comes at a time when we like we feel the squeeze like we are right now. What are you working on right now, that’s going to take place over the next 12 months that you’re really excited about that you can see the impact that it’s going to make?
Fredrick Bussey: Oh, man, a couple of things. But the biggest thing is a seven figure circle, which is my mastermind program for entrepreneurs who want to go from six to seven figures. And just perfecting that, in terms of how we can deliver more and more value, I think that the program in and of itself is incredible. I’m excited for what we’re offering. I’m also just excited for what people are being able to create through that right, and what they will be able to create as we bring in more members.
To be honest with you, what I did was I narrowed my focus to just this thing to just building out the coaching program. And it’s allowed me to actually free up the time to be with my family, to reset myself and be refreshed. And I’m not obsessing over this thing, I’m able to think about one thing in particular, and how I can perfect it, how I can do the things around it to make it more valuable and more impactful for people. That’s what I’m most excited about. I got some other stuff in that fire. But we’re going to keep letting that brew for a little while until, until we kind of passed this period. And I think we’ve kind of started to deliver the value for people. And we can kind of talk about it and do some other things as well.
The Mastermind Effect: And let’s talk about those people, you know, people have a way of surprising us because of their willingness to learn. Has anyone that’s been to your mastermind surprise you with what they were able to accomplish, and what was the outcome of someone going through your mastermind?
Fredrick Bussey: So, well, this mastermind is new. But the one that I ran last year, I have several people that are really doing some really cool things. Some of my past clients are really seeing some, some incredible results right now.
I’ll talk about one of my clients who used to work at a logistics company. He was making about $30,000 a year. He was making music on the side as a producer. Yeah, it had some success. But the music industry is very much about the gatekeepers, right? And so you’re trying to find permission. So one of the things that we were able to do is help him to discover a business model that goes around that industry. He created samples for companies that other producers actually use.
So long story short, he started to see some success from that selling samples on a few websites and things like that. He was making decent money to the point where his wife said, Well, you know, if you keep doing this, and do this full time, you can replace your old income, right? So he’s making 30 to 45 thousand dollars a year and he’s planning to save up his money, quit his job in about six months, and try and do this thing full time. But before he can do that, they fired him like three months later, call him into the office and say, “Hey, man, your head’s not in the game.” So he’s like “It’s not.” And so he started building his business.
In that first year, he did about $150,000 in income. So he five times, his old salary. But this year, he’s already surpassed that. He’s probably going to do half a million to a million, if not getting a better a bigger deal, which I would estimate is probably going to be about seven figures, I don’t want to speak on it too much. But he’s been able to, you know, exponentially increase the capacity of his life and his earning potential. And things of that nature are just one of the beautiful things about being a coach and being able to walk along somebody alongside someone, and to see what they’re capable of, and then to see them even exceed what they believe they’re capable of.
The Mastermind Effect: We’re coming closer to the end so let’s talk about success. So I was talking to one of my coaches. And, you know, we’re talking about what it takes to create success, mentorship, willingness to invest in yourself, experimentation, partnerships, willingness to fail, as well. And the one that I really stopped on was our willingness to succeed. I think it’s something that sometimes gets in front of us with sensitivity of social media, and you know, everything going on out there. I think sometimes we’re afraid to talk about our successes. What do you feel it takes to get over the hump of your fear of actually being successful?
Fredrick Bussey: It’s a great question. It’s something that’s not talked about enough. I think there’s a couple of aspects, a couple of aspects to it. One is that success is actually traumatic. We forget that growth in and of itself can be traumatic.
When you’re a teenager, and you go through growing spurts growth spurts, you find that your bones ache, because your body is having to adjust to the dramatic growth, you’re suddenly 3, 4, 6 inches longer and taller and bigger than you were before. Right? So your body has to feel that pain, we call it growing pains, but we sweep it aside. But growing pains exists in every part, the toughest growing pain is often in our mind, because we have to adjust to this new reality.
We have to say, there are things that people have for this, you know, you think you’re getting too big for your britches, right. We expect people to be who they have always been to be the same size, not just in terms of physical but in terms of mental and financial, you are who you are. Well, that’s not really true.
We know that you can become a bigger, better version of yourself. You’re supposed to outgrow your britches, you’re always supposed to be growing and getting better and moving faster. But what happens is the trauma of that for yourself, and then there’s a trauma of leaving people that you know, maybe for your entire life.
And so, success can be very lonely. Because when you move into this new realm, you don’t know anybody there, maybe there are people that you’ve imagined to getting to know or meeting one day, but you never imagined that you would be one of them. Or maybe you did. But still becoming in that reality, you have to embrace that mentally, psychologically, before you can get there physically, in reality, and so there is that whole process that you need to make an adjustment. And so the beauty of a mastermind is that it creates this place of acceptance for you, right?
You belong here, because one, you paid to be here. But two is because you have the mindset to understand, I need to be in a place like this, I need to be in a place of growth. I don’t believe that I’m the smartest person in the room. Nobody joins a mastermind, because they believe that they’re better than everybody else there. They believe that they are amongst at least equals financially or equals in mindset. And so you’re pouring into one another, you may not recognize exactly what it is you have to bring to the table. But you will see that once you’re in that place. And so that supportive network, which encourages you, which draws from you as well as imports into you, and allows you to acclimate yourself to that new space, so that the growing pains or ease. Now you feel like “I belong here, I’ve grown, I’ve expanded amongst these other people, people who are like me, and who want the same thing that I want to be great. And we’re willing to invest in ourselves to do it and invest in one another as far as our time and our resources and our knowledge to make those contributions so that we all walk along this powerful, powerful journey together.”
The Mastermind Effect: Yeah, it’s that again, back to that circle, back to that togetherness, and the willingness to invest in yourself to see that success is so vitally important. Last one on here, what is a tip a tactic or an actionable item that a listener right now, if they took it in and enacted that over the next 30, 60, 90 days, they’ll see some form of result from Fredrick?
Fredrick Bussey: One thing I talk about, I talk about this in my book, breaking orbit, is that everybody is created with a gift. Understanding your gift is one of the most powerful things you can do.
We sometimes believe that other people are more special than us, or that most people are regular, and a few people are special. And one of the things I come to understand is that everyone has a unique and special and powerful gift to create an impact in the world. And no matter where you are what you’re doing, you can use that gift to create exponential results.
The most powerful thing about that realization is that it frees the blockages from you. A lot of times we need permission, we have excuses, we have fear. But there are three laws of giftedness that I’ve talked about, that can impact people in a powerful way.
The first law is that everybody was created as a special gift, you have to accept that. And that means that you, I, every listener on this podcast has a special, unique and powerful gift.
The second is that every gift has a purpose. And so it’s funny, we believe that doorknobs and hammers, and screwdrivers all have purposes, that cars and trees all have a purpose. But human beings we’re creating, we have to go and find one, right? Which doesn’t make sense. I believe we’re all created with a gift and a gift gives us purpose.
The third thing is that no gift can fail at the purpose for which it was created. In other words, your gift can never fail. Why is that important? Because failure is the number one thing. Even the fear of success is really a fear of failure. You’re afraid that if you succeed, then you will fail at a more spectacular level. And so that holds us back from taking action, which is where we get results. So if you understand that your gift will never allow you to fail, right? Birds always fly. Water always flows, the wind always blows, the sun always rises. Everything in the nature in the natural realm always fulfills its purpose. So if you aren’t walking in your gift, if you are moving in your purpose, you’re not going to fail. You may not get the results that you think you will get initially. But you will learn, you will adapt, you will grow you’re not going to fail, keep moving forward, because that is the way that we’re supposed to move in as well. Nothing moves backwards, everything moves forwards.
So those three laws, everyone has a gift. Every gift has a purpose, and your gift cannot fail. If you remember that you will see exponential results in your life in the next 30 to 60 to 90 days.
- Breaking Orbit by Fredrick Bussey
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