063: Spending Multiple Six Figures on Masterminds with Dave Ruel

On this episode of Build Your Network, Host Travis Chappell interviews Dave Ruel, the founder of Effic.

Here’s what Travis and Dave discuss in this episode:

  • About Dave Ruel:
    • He’s a Canadian from the east coast.
    • Been an entrepreneur online for about 10 years now.
    • His latest company is Effic, helping entrepreneurs get more efficient and effective.
  • Dave’s first business experience:
    • He’s not very academic, school wasn’t great for him.
    • He didn’t know what he really wanted.
    • Bodybuilding was his obsession in the early 2000’s.
    • His first business was cookbooks for bodybuilders
    • He coached people 1-1, he was making recipes to make bodybuilders diets less bland.
    • He built his first business out of necessity, but he did want the freedom part.
    • He met a fellow bodybuilder named Lee Hayward, he wrote a bodybuilding blog and made 6 figures a year.
      • He learned a lot from him about blogging, marketing, etc.
    • He then branched off into supplements, publishing and coaching.
  • What’s your favorite thing that you’ve done so far?
    • Out of everything, he loves creating the most.
    • Over years, they became really good at setting up systems for businesses.
    • Overall, he’s done pretty well with systemizing and they started Ethic out of demand.
    • He’s been running mastermind groups for about four years.
    • Really specializing in organization and systemization.
  • Masterminds are the secret weapon.
    • He joined Vince Delmonte’s mastermind.
      • He was the number one guy in the bodybuilding space.
      • He was able to meet so many people who became great friends.
      • Uses a lot of affiliate marketing to grow his businesses.
      • Out of demand, he had the opportunity to start his own mastermind.
    • He’s been doing one or two mastermind groups every year.
    • In group coaching, he holds entrepreneurs accountable to reaching their goals.
    • The big goal is to create the right environment for them to perform at their best.
      • Workflow, working with teams, hiring, etc.
    • He holds them accountable for an entire year.
    • Often you make friends for life and you have access to collective brainpower that you don’t have on your own.
  • How crucial have masterminds and mentorships been to Dave’s success?
    • Crucial – you must be a part of a mastermind that’s going to get you to the next level.
    • You need to be with your peers and who are going through the same thing as you.
    • Everyone should be a part of at least one mastermind at any given time.
  • Be a part of a mastermind that pushes you, but also get into a mastermind with all of your peers.
    • As online entrepreneurs, it’s important to have that aspect of community.
    • When you want to grow, pay to play.
    • When you pay in, you’ll find a way to create ROI.
  • Do you believe that what you know or who you know is more important, and why?
    • It’s both. It’s what you know and who you know in the right context.
    • You can know a lot, but it could be irrelevant to other people.
    • What you know needs to be in the right context of who you know, creating synergy.
    • He used affiliate marketing a lot to grow his business.
    • If he makes his affiliate win because they’re getting more business, he also makes himself win because he gets more eyeballs on his site.
      • You have a perfect triangle, because you have to have the right context, the right people and the right product.
    • What’s the most annoying thing a person can do when they’re trying to network or meet another person?
      • So many people are too strategic about it. They try to extract as much information from someone as if they’re never going to meet them again.
        • They ask you things like “What’s your top 5 tips for success?”
      • When you’re too strategic about relationships, you’re not going to be great at relationships.
      • When you’re not strategic and have no expectations, things turn out the way they should.
      • Don’t be weird about networking, just show up, be cool, be a part of the conversation and play the long game of building relationships.
        • It’s slow, it’s like dating.
      • Has building relationships come naturally to Dave?
        • Yes, he’s an extrovert and social.
        • The best deals have been done over drinks or cigars.
        • Every time he’s at a social event, you get into conversations that are not about business.
        • His deals weren’t made at the bar, but the inception was there.
          • You get to see who people really are and sense their agenda.
        • Advice for introverts:
          • The key is not to go wide, go deep.
          • You can be strategic with the amount of people you’re going to meet, not the interaction itself.
          • Be self-aware about your style. Instead of trying to talk to everybody, get deep with one or two people.
          • You don’t have to try to be someone that you’re not, just push yourself outside of you comfort zone.
          • Masterminds are great for introverts.
          • Masterminds are a safe environment where people won’t judge you for being introverts.
            • The caliber of people you’ll be with at a mastermind is usually pretty high.
          • If you had to narrow it down to one tip on networking, what would it be?
            • Pick the right mastermind for you and give it a go.
            • From there you will expand your network.
            • The high caliber people will introduce you to their network.
            • Don’t think about masterminds in terms of ROI.
              • 100% of the time, the value you get is completely different from what you expect out of a mastermind.
            • Since you’ve been in business, how much have you spent on masterminds, conferences, etc.?
              • Multiple six figures.
              • This has lead to the millions of dollars he’s made in his businesses.
              • He spends that much, but a lot of people that he’s met have contributed to public speaking events that he gets paid to do.
                • He also gets mastermind clients from these events.
              • What he spends he gets back because he gets paid to network.
            • The Random Round
              • What profession other than your own do you think it would be fun to attempt?
                • Hockey player
              • If you could sit on a park bench for any hour with anyone past or present, who would it be?
                • Jesus, get to the bottom of what His vision was? There are so many variations of His message now.
              • How do you like to learn best, books, blogs, podcasts or video?
                • He learns from every platform, but especially through osmosis. He’s a fan of just in time learning, he researches all the mediums as he needs them. He likes to be around people and observe.
              • Give us a glimpse of your morning routine:
                • Wake up around 6-7
                • Drink a big glass of water
                • Go and have 15 minutes of meditation on his land, uninterrupted.
                • Does his gratitude – he writes down what he wants to accomplish or where he’s heading
                • Cooks his daughter breakfast and hangs out with her
                • Goes to the gym
                • Post-workout shake
                • Starts day around 10am.
              • What is your go-to pump up song:
                • Mumford and Sons – Babel
              • What are you not very good at?
                • Copywriting
              • Can find him on Instagram and Facebook
            • The Effic planner – uses the production method.
              • You create buckets and break things down into smaller chunks.
              • There is a system to prioritize your tasks.
              • Quarterly planner.
              • Coupon code for Effic planner is TRAVIS to get 10% off.

Tweetable Quotes:

  • “When you want to grow, pay to play.”
  • “The key is not to go wide, go deep.”

Resources Mentioned:

Buildyournetwork.com – Podcast website

Buildyournetwork.co/fb – Travis’s Facebook group

Effic.co – Dave Ruel’s business website

 

 

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