I’d like to speak with you about the value of a mastermind, but I have something important to share with you first…
Free Masterminds SUCK!
I strongly believe in the value of a mastermind group, but it’s gotta be done in the right way.
I’ve been a member of (and personally run) a ton of mastermind groups, and that experience has taught me that paid masterminds are the way to go.
You probably already recognize the value of a mastermind group in general…
- You get regular, dependable feedback and advice from other entrepreneurs
- You have true ACCOUNTABILITY, literally forcing you to get stuff done
- You get to tap into an amazing pool of talent and leverage other people’s strengths to build your business
- You can contribute to others at the same time
So what’s the difference between a free and a paid mastermind?
People naturally value what they pay for more than what they get for free.
When you’re part of a free mastermind, you get busy… things come up… and before you know it, the group falls apart! At least in my experience.
With a paid mastermind, everyone takes the group seriously, shows up for each meeting, and you get to be in a group with other people who have also paid for the group and value it as much as you do.
The only problem is…
They can be darn expensive!
The personal mastermind groups that I run go for between $1,000 and $2,500 per month, and there’s currently a waiting list (it’s not cheap, but it’s definitely worth it judging from previous participants).
Unfortunately, that price tag puts masterminds out of reach for most entrepreneurs.
But I Have A Solution
I’ve put together a solution that I think is going to be a HUGE hit.
I’m opening up a mastermind group with a hand-selected mastermind director at a FRACTION of the cost for my usual masterminds.
I did a call to go over the details last night. Click here to check the whole thing out!
If You Can’t Afford A Mastermind At All…
Then I have a solution for you, too 
For the past 12 months, I’ve had an accountability call Monday through Friday.
That’s right… EVERY. SINGLE. DAY.
Either with a friend or an assistant, I’ve gone over my business goals every single day for A YEAR.
Think that’s had a bit of an impact?
As Sarah Palin would say… you betcha!
While free masterminds suck (due to the difficulty of getting together a whole group that’s willing to commit), it’s easy to find one person who will be your accountability parter.
All it takes is a little bit of networking and the guts to ask… and follow through.
I’d love to hear your thoughts on all this.
All success,
Brian McElroy
{ 15 comments }
Hi Brian,
I am sorry, but I disagree with you about the Free VS Paid Masterminds!! I will say that it depends on who the Free one is. The really Dedicated ones are just as Smart and Good as the Paid ones. ” That is just my opinion.” Most of them Care if they help you to learn whatever you need help with. I have great Respect for those that do care about their Client!!
Thanks, Lucille
Sorry but I fail to see why I should pay for a mastermind. Teaming up with like minded people can be as good and maybe even better than paying for it.
My experience is that masterminds are a very effective way for an entrepreneur – or anyone else interested in created forward momentum – to get the support and peer accountability of a group of other people.
Paid vs Free is perhaps an artificial debate since it is commitment to the group that matters.
I agree with Brian that there is a tendency to undervalue free since there is no direct cost that is wasted. If you're paying $400 a month to mastermind with like-minded people each week and you miss two weeks, that's $200 wasted, right?
Except that the real cost is what you would have gained from attending the meetings since you must be expecting to get much more than $400 value each month to take part.
The big difference I see on paid masterminds is that it weeds out the weaker members.
I mean would you rather mastermind with people paying $2,000 a month (and therefore clearly successfully and determined on more success) or with people who signed up for free, wouldn't pay to attend a paid for mastermind and might have a penny-pinching approach to everything?
I've been in a free mastermind group for over a year. We meet onsite in a restaurant. The committed ones stay and the uncommitted go. If you're new in your business, where is that amount of money coming from? It takes time, commitment, and a willingness to help others and build your business at the same time. A successful group is not created in just a month or two. It's about the commitment of the group as a whole that will make it successful or not–not the amount of money it takes to join.
Good example of a post that brings out people's beliefs.
Personally I've been involved with both paid and free masterminds – as I have with paid and free forums/trainings/etc.
Yet the bottom line is that I think it always comes down to the individual, and the attitude they bring to the group/process/program – be it free or paid.
And on this note, I do at least partly agree with Paul.
A paid program/environment can act as a natural filter of sorts. A filter that weeds out those who by putting their wallet where their mouth is demonstrate (even if only to a deeper part of themselves) that they are serious in their commitment – and on multiple levels including the obvious financial one.
But does it mean you can't be successful if you attend only a FREE Mastermind? Of course not. And nor does it mean that by attending a paid one you will GUARANTEED of success. (If the latter was the case, then Brian would have offered a Money Back Guarantee *wink*)
At least from my own personal experience, people will always find a way to 'succeed' or 'fail'. And that's whether we pay for something…or get it for free. Our own awareness of what drives us and being in control of our overall psychology, at least the way I've see it pan out, can often play the biggest part in our ultimate success and not simply whether we pay (or don't pay) for a Mastermind membership, or any other kind of program.
Lastly, you're right Evelyn. The best groups (free or paid) take time to develop and 'gel'. And I suspect that Brian would encourage ongoing participation in the Mastermind after the initial 3 months for all the members that are committed to their success. (Correct me if I'm wrong Brian.)
Cheers,
Ivan
Thanks for your thoughts Ivan!
One of the HUGE benefits of a mastermind group is the long-term relationships that develop.
In fact, the person running my upcoming mastermind group was a participant in the first one I ever ran nearly 2 years ago.
Cheers,
Brian
Thanks for your thoughts Ivan!
One of the HUGE benefits of a mastermind group is the long-term relationships that develop.
In fact, the person running my upcoming mastermind group was a participant in the first one I ever ran nearly 2 years ago.
Cheers,
Brian
Agreed
Paul, I've been meaning to reach out to you in some way, so your comment here comes at a great time.
I think that your website (http://businesscoaching.typepad.com) is an extraordinary example of affiliate marketing done right.
You provide extensive reviews, appear to be authentic and unbiased, and fully disclose your relationship with the vendors you work with.
Truly great work.
Best regards,
Brian
Mark, you may be interested in John Carlton's most recent post:
http://www.john-carlton.com/2010/04/an-impassio...
Hi Everyone!
Here's the value I received from the paid mastermind group I was in with Brian, 'back in the day.'
1) Accountability. That's huge. It was embarrassing for any of us to show up and say that we didn't get done what we had committed to the week before. I remember being my most productive the day before the mastermind call.
2) Resources. When one of us was stuck, it never failed that someone else in the group had the answer or a great referral/source we needed.
3) Community of like-minded business owners. I agree with Brian and a few of the other posters here. Like-minded is key for a mastermind to work well. And paying for a mastermind does indicate that everyone is serious about building/growing his or her business. Honestly, it's human nature to take something you paid for more seriously. This is not to say that a free mastermind can't ever work, just that, statistically speaking, a paid program of any kind has a better track record of getting results then a similar program for free, period.
4) Incredible value then and incredible value now.
Brian is also offering some super limited-time bonuses for signing up for this beta launch. If you know Brian at all, you know he always over-delivers and this offer is no exception. We're talking 30 minutes of his time to ask him any questions on building your business 1-on-1, plus membership into his new VIP club, which now includes a webinar every month with Brian, his hard copy newsletter and other goodies I can't remember!
And one other bonus…from me.
I'm offering a copy/optimization critique of your landing page, short sales letter or other one page copy. I don't have Brian's level of online success (yet), but I've been a copywriter, editor, manager, business coach, and ghostwriter to the stars for the past 10 years. This is a $300 value, and I think you'll like it.
If this isn't for you, that's cool, too. As Brian mentioned, at least get yourself an accountability partner and do a daily check in. Keep it short (10 minutes tops) – you don't want the call to be a chat-fest drain on your productivity!
-Vonalda
I almost signed up. I made it all the way to get the payment link… then it my interest faded. What I needed was a bulleted list or something to remind me the value to being in this group.
I don't know anything about the person running it or the kinds of people who will be there. I would surely join one with you as I know who the 'leader' is.
I am soooo in need of a GOOD mastermind. I am seriously afflicted by procrastination. Working from home was about the worst type of job I could have. To have accountability to people I respect would be great.
I'd pay to be in a good mastermind in a second! The free ones I have been involved in were not good. I just don't want to pay to be in one that is not good either.
Just not quite enough here to sell me Brian
Paul
The free vs paid debate has been resolved in these comments.
But there's an absolute gem in here that I hadn't thought of …
I've often wondered how you're so productive, Brian. Wasn't sure if you had a “secret” or not. While you may have others, the daily accountability call is a HUGE takeaway for me.
Every day for a year! Wow! That's putting it on the line.
Your results say it all!
I'm not yet at the stage in my biz to qualify for this beta group, but I'd be there in a flash if I did. It's a great opportunity. I just got a glimpse of the synergy of a group in the Bonus Coaching call (the video one) on Wednesday. It was great.
Cheers,
Carroll
I signed up!
After looking over the offer again and getting some information from Brian I decided to get in on this. Brian has never let me down and I know he will not here.
How many spots are left, 2?
We have a solid group of people so far… but we could use a couple more
Paul
I have totally lost interest in this mastermind from lack of communication.
Please refund my money and cancel my membership. I can be half-assed on my own.
thanks
Paul
I have totally lost interest in this mastermind from lack of communication.
Please refund my money and cancel my membership. I can be half-assed on my own.
thanks
Paul
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