Bringing Immense Value to Your Mastermind Group
The main thing you’re going to want to keep in mind when you create a mastermind group is the value that it offers. If your group doesn’t really offer anything of value, then it’s basically just an online spot where people are chatting about stuff, but aren’t really gaining anything.
There’s a lot of importance that needs to be attached to the group. You want the members to feel that their time was wisely spent. If your members start doubting that they’re getting anything out of being there, they won’t stick around.
This is why you need to offer value – and there are many different ways that you can do that. You can arrange to have guest speakers visit the group meetings. If your mastermind group is for entrepreneurs who cater to new moms, then you could consider bringing in an expert on successful time management for postpartum moms.
Or you could arrange to have an expert in health for sedentary workers. As long as the speaker either ties in with the niche or the individual members, that would be valuable. If you notice that the majority of the members are struggling with stress or self-care while trying to get their business off the ground, then you could have an expert drop by who specializes in self-care for entrepreneurs.
Deciding which expert to call in should address a need or problem within the group. If there’s a lack of skill in a certain area among the majority of the members – such as setting up their own website – then you could have someone come in to talk about that topic.
Give the members what they need or want to know concerning their business and they’ll see the value. You can also add value by providing homework. This can be in the form of worksheets, checklists or even journaling sessions.
Another way to bring value to the table is by creating courses for the members. You would want to offer these courses for free. They should focus on something that teaches them a step or a skill or increases their entrepreneurial knowledge.
You might be thinking about the time and effort it will take you to make these free courses, but keep in mind that these free courses you create now can bring value back to you later if you offer them for sale.
You can use PLR to create these courses if you’re short on time yourself – as long as you don’t pass along the private label rights license to them. You can also secure free courses from other avenues.
There are many free courses available for online entrepreneurs, but not everyone has the time or knows how to gather this information. You can gather it for the members and give it to them, which creates value.
Everyone in the mastermind stands to gain through group learning. You can also tap into the members of the group to see who has a skill that they could share with the others, and this brings value as well.
Turning Your Mastermind Into a Paid Invitation
Any group that has value will grow. People have a tendency to notice and then flock to groups that are helpful. Members who are inside a group that’s been instrumental in supporting or teaching them how to do business are going to tell others.
So the group’s reputation for being a great place to be will expand. As that happens, you’re going to have people contact you because they want to get into the group, too. If you have a thriving group and others are taking notice, it’s at this point where you may want to consider turning it into a paid invitation.
Your time is valuable, and you’ve spent months or years learning what others want to know. You can get paid for that effort and for your expertise. You can set the price for joining your mastermind to gain access to your wisdom and the collective wisdom of the other members at any price.
Many people won’t even blink at the thought of paying $1,000, $1,500 or even $2,000 to join. That’s because these are people who are serious about their business and they’re not going to balk at the cost of joining, because they’ve seen the value or heard about it from others.
The reason they’re not going to mind paying more is because they understand that while it might cost them $1,000 to join, what they learn is going to set them on the path to earning five or ten figures a month a lot faster than if they attempted to do it on their own.
They want access to whatever it is that your group did. They want the encouragement. They want to discover new ideas or new ways of doing things with their business. Your mastermind group can offer valuable networking, business growth opportunities through things such as collaborations or referrals and the experiences of those who know how to run a business.
Your paid group has the ability to help newcomers fix problems, to build confidence in members, and to be a motivating factor. When you reach the point where you’re ready to turn your mastermind into a paid invitation, you’ll want to create a sales page with testimonials, featuring what you or some of the members have achieved.
You’ll want to drive traffic to your invitation through your website, through social media and by using your mailing list. You can also use ads and simple word of mouth. If you already have affiliates in place, you can use them to get word about the invitation out, too – for a share of the profits.