How To Launch And Run A Successful Business Mastermind Group
I have been a member of mastermind groups and run mastermind groups for over 10 years now. I realised very early on in my business life that I could either discover how to run a successful business by doing everything myself, making mistakes and learning on the job, as it were, or I could basically piggy back other’s successful methods and fast track my business growth.
The second one seemed far more sensible to me, so I then investigated the best way of getting advice from many other business owners, as opposed to one.
The mastermind group seemed to be the logical way to go.
Sit with other business owners for a day or two, ask questions about your business that you need help with, help the other owners with their questions, throw in a bit of accountability and hey presto, you have a mastermind group that fast tracks your business success.
Mastermind groups are simply brilliant; well they are if they are set up and launched in the right way.
Here I aim to explain how I have launched many business mastermind groups and how you can set about setting up your own mastermind group for business owners or entrepreneurs.
First, why should you consider launching your own business mastermind group?
1. Why launch a business mastermind group?
There are two main reasons why I have both launched business mastermind groups and why I have always been a member of at least one business mastermind group; usually more though.
Here are the two main reasons for setting up a mastermind group for your business:
- It allows you to propel your clients towards success much faster than if you work with them on a one on one basis. Not only do they get your expert advice (and you must be an expert in something to launch a mastermind group in my opinion – see later), but they also get advice from the wider group. Also, accountability is amplified when you commit to do something to a group of people instead of just one person.
- It allows you to make a large monthly repeat income for only one or two days of your time a month.
It is only if both parties to a relationship experience a great deal of value from it that people will continue to invest in it, which is why the mastermind group adds so much value for the business owner running it and all of the business owners attending it.
Who can launch or set up and run a business mastermind group?
I cannot stand it when I see ridiculous advertisements on facebook or other numpty social media platforms promising people that they can set up and run a mastermind group even if they do not know anything or do not have any email list of business owners.
It is my firm belief that you must have expertise and an email list of people who value your advice if you want to set up and run a successful business mastermind group.
If you expect to be able to charge people anything from £500 a month to £2,500 a month, you absolutely have to know something about running a successful business more so than the others in the mastermind group. If you don’t, even if you manage to successfully launch your mastermind group you will soon be ‘found out’ and have people leaving very quickly.
However, if you really are an expert in your topic, a mastermind group allows you to impart that expertise, with the added benefit of having the other business owners’ experiences to learn from and the group accountability which ensures that everyone takes action.
3. How should you launch your mastermind group?
To receive the remainder of this guide about launching your mastermind group, enter your details below:
The guide covers all of these vital matters about setting up and running a successful mastermind group:
- The mastermind launch formula that has worked so well for me;
- How many mastermind sessions should you run each year;
- Where should you host your mastermind sessions;
- How to run the ‘perfect mastermind session’ to ensure maximum attendance and success for each mastermind attendee; and
- The support that you must provide in between sessions to ensure the ultimate success of your mastermind group.
Click the link below to obtain this free book:
How to set up a mastermind group, how to start a business mastermind group, how to create a mastermind group, how to launch and run a business mastermind group.