Podcast Summary: Private Practice Startup Podcast

Episode 131: How Your Business is Suffering by Not Being in a Mastermind

Host: Katie Lemieux (solo, Dr. Kate Campbell absent)
Guest: Alison Pidgeon, CEO of Move Forward Counseling, Move Forward Virtual Assistants & Consultant
Date: April 13, 2019

Overview

This episode explores the transformative impact of mastermind groups on entrepreneurial success, particularly for therapists and private practice owners. Host Katie Lemieux and guest Alison Pidgeon dive deep into why not participating in a mastermind might actively hurt your business growth, share real-life stories, practical strategies, and give guidance for finding or starting the right mastermind group for you.

Key Discussion Points & Insights

1. Alison Pidgeon’s Professional Journey

• Alison is a therapist turned group practice owner and entrepreneur. She also launched a virtual assistant (VA) company specifically for therapists and consults for Practice of the Practice.
• She recounted working with Joe Sanok, consulting, and expanding her business endeavors beyond solo practice.
  [02:52] Alison: "I got super burned out. I left, started my own private practice and realized that I could make a bigger impact and make more money by starting a group practice."

2. How Alison Became a Consultant

• A pivotal moment occurred at Joe Sanok’s “Pinot in Practice” event.
• Alison realized her advanced progress compared to peers and was inspired to become a business consultant herself.
  [03:56] Alison: "I woke up at 4 o'clock in the morning...I need to ask Joe if I can work for him as a business consultant."
  [04:40] Alison: "He was gracious enough to bring me on and train me, and it's been a great experience."

3. What Is a Mastermind and Why Does it Matter?

• Definition: Groups of like-minded business owners who meet regularly for brainstorming, accountability, and collective problem-solving.
• Benefits:
  • Dedicated time for working on (not just in) your business
  • Exposure to new ideas and solutions
  • Reciprocal inspiration, motivation, and support
  • Connections to broader networks
    [06:24] Alison: "Just the process of setting aside the time to participate...if we're not carving out that time to look at how we can continue to improve the business or grow the business, it's not going to happen because we all get busy with other stuff."

4. Why Your Business May Suffer Without a Mastermind

• Missed opportunities for growth and feedback
• Increased risk of repeating avoidable mistakes
• Lack of connection to supportive networks and knowledge
  [09:13] Alison: "I just think it's so important to ask people who've already been there, done that, for guidance on how to reach your goals...I wish I would have gotten, you know, help sooner."

5. Mastermind Structure & Participation

• Alison runs and participates in masterminds (5th time as of this episode), especially for solo practitioners growing to group practices.
• Different types: Industry-specific (therapists only) vs. mixed business groups.
• Both offer unique perspectives; switching between types can be beneficial.
  [16:56] Alison: "There's just certain things about running a business that's the same no matter what the business is...even though one of [the members] is running a drapery business and the other one is running a, you know, whatever it was."

6. Finding the Right Mastermind

• Assess who leads the group and their style
• Decide if you want peers from your industry or a broader business context
• Try free resources, research local/in-person opportunities, or online groups
  [15:30] Alison: "Who is leading the mastermind? ...I've gotten good learning opportunities from being both in groups with therapists, but also...with other business owners that had all kinds of different businesses."

7. Common Pitfalls Masterminds Help Prevent

• Lack of accountability ("shiny object syndrome"; distraction from goals)
• Not knowing what you don't know—blind spots in planning
• Failure to leverage others' expertise
  [12:51] Alison: "You don't know what you don't know...the mastermind can be a great place to go, you know, maybe even present your plan...and just see, did I forget anything?"

8. How to Structure a Mastermind

• Wins: Each session starts with sharing recent successes
• Hot Seat: A member shares a specific challenge, receives clarifying questions, then rapid-fire advice
  [21:25] Alison: "We start out the group by doing wins...then move on to the traditional sort of hot seat model..."

Notable Quotes & Memorable Moments

• Alison on the impact of being around high achievers:
  "Even though I was there as the person leading the group, I was so inspired by the other practice owners that were there because they were doing amazing things." [07:17]

• Katie on masterminds' energy boost:
  "It's almost like, I don't know, I get like this business high… you get so creative and excited, and then you're like, yes, I can do this. It just pumps me up." [08:33]

• Alison on business growth:
  "I just think about how I could have grown so much quicker and also made so many fewer mistakes if I had just gotten some help with the business side of things." [09:56]

• Alison on business fundamentals:
  "There's just certain things about running a business that's the same no matter what the business is." [16:56]

• Katie on managing priorities:
  "It's been almost like this five year practice of really staying very present...asking yourself what's important right now that's going to move my business along." [14:06]

Practical Takeaways

• Get Involved Early: Don’t wait to join a mastermind, coach, or get a mentor—early support will save you time, mistakes, and missed income.
• Choose Your Format: Online, local/in-person, industry-specific, or general business masterminds all offer unique advantages.
• Network Effects: Building relationships means access to resources, clients, and knowledge you can’t find alone.
• Stay Accountable: Masterminds help track your progress and call you back when you stray from your goals.
• Emotional and Intellectual Support: Particularly valuable for therapists used to one-way relationships with clients.

Segment Timestamps

• [02:52] Alison’s background and business evolution
• [03:56] Story of becoming a business consultant
• [05:48] Mastermind participation and facilitation
• [06:20] Primary benefits of masterminds
• [09:13] How your business suffers without a mastermind
• [12:51] Masterminds help you see blind spots, prevent distractions
• [15:30] How to choose the right mastermind
• [16:56] Comparing industry-specific masterminds vs. general business groups
• [21:25] How to structure an effective mastermind

Resources & Offers

• Alison’s Group Practice Mastermind: Runs 2–3 times/year (break for maternity leave, next expected Fall 2019).
  • Contact: Practice of the Practice consulting page
  • Email: alison@practiceofthepractice.com
• Move Forward Virtual Assistants: Special 2 free VA hours to new sign-ups referenced “Private Practice Startup.”
  • Info: moveforwardvirtualassistance.com

Final Thoughts

Both Katie and Alison emphasized that masterminding is a crucial accelerator for business owners—especially those in therapy and helping professions, who are often hesitant to invest in themselves or unaware of what they're missing. Choosing the right type, format, and leader is important, but the most important step is simply getting involved and building on the shared wisdom of others striving for similar goals.

For comprehensive show notes, contacts, and Alison’s offer, visit theprivatepracticestartup.com.