I'd always heard the word mastermind bantered about, but I'd never thought that investing in one was something I needed to do. It was a fancy word, the people inside must be incredibly smart and to repeat myself, fancy. I suffered from some pretty severe imposter syndrome when it came to that word.
Then I noticed that the word, Mastermind, started appearing in front of me in many places, like podcasts, advertisements and online in searches. I'm someone who believes in paying attention and seizing opportunities and so, I began to make myself understand just what in the hell a mastermind really was. Here's what I found out.
1) It Varies. How's that for vague?
I joined three different masterminds and all three were different. I'll outline the differences as best I can, but my advice would be to research the mastermind as best you can before investing.
- some leaders are very involved and others rarely show up and just let the group interact and inspire and their membership portals offer up some pre-recorded content for your viewing pleasure.
- Some are content heavy inside of membership portals. Videos, webinars and worksheets.
- There are mostly date parameters set around payment schedules, content creation and new members allowed in, so if this is the case, make sure the open/close dates match up with your needs
- Some masterminds are incredibly deep dives into the theme - these are my absolute favourite, but beware, if you don't take constructive criticism well, these may not be for you. You're paying for the leader and your peers to get real and offer solid, honest advice. Get ready to take it, even if it's not exactly what you're wanting to hear
2) The Costs Also Vary - are you sensing a theme here?
- I run a mastermind that's currently at $49/month and am a member of another that is priced the same, but I'm also a member of a mastermind that is priced at $350/month, and of course, masterminds are notorious for being incredibly expensive. Do your research. Different price points don't always mean a better group. Get referrals, ask to have some previews and talk to the leader to get a feel for the group. Also, if you're there because you love the leader, make sure he/she is actually active inside the group. Often it's their admins doing most of the work, which is fine, but if you signed up for access to their expertise, and you might not ever get it
3) They Are Incredibly Beneficial
A great mastermind will pay back your investment 10 times or more. They can be incredible for education, mentorship, idea bouncing and critical thinking. A great mastermind encourages both peer to peer interaction and leader teaching. A great mastermind forces you to examine the gaps in your business and the opportunities and to really look hard at what isn't working and lead you to change and growth. An incredibly valuable mastermind inspires you to push your business to the next level.
So, what questions should you ask before you commit?
- What do I want out of the mastermind?
- Why do I want it?
- How does the mastermind operate and teach and does that work for you?
- Where is your business at and what level do you want to be at when you leave the mastermind?
- Do you want a mastermind that is continuous, giving you access to coaching year round?
- What can your business afford?
Of course, masterminds are my fav, so I've got a new one launching February 15th! It's Your Business Evolution and it's strictly for women. It's coming out at an introductory price of only $49CAD/month, or a block of three months for $125CAD! This price won't last past February 15th, but if you lock in at this price, it's yours for as long as you're a member. We're webinaring, guest lecturing, Facebook Living and engaging in some pretty awesome peer to peer learning opportunities. The only hitch? It's for women entrepreneurs only, who are dedicated to doing the work to get the results this program can give. It's not going to be all sunshine and roses, but your business will grow if you do the work.
After February 15th, the price jumps to $249CAD/month for monthly membership and $699 for a three month block. So get it while I'm working out the tech bugs. Want to know more about the mastermind? Shoot me a message via the contact us page. If you're looking to jump on the offer, this is the place!
I'd love to hear what you love and don't love so much about masterminds and what your favourite mastermind is! Comment below!!! (That's a three exclamation mark comment request people! Super serious!)