In my introductory article on mastermind groups, I shared my views on what I believe Napoleon Hill meant when he described his “Master Mind principle.” You can read this article here.
In this article, I want to discuss the opportunities of being in the high-level, high-fee mastermind group business.
During my research of Hill’s writings, I never saw him discuss the business of leading formal mastermind groups for profit (I don’t mean the profit of the ideas and relationships generated – instead I am referring to the profit earned by the person who started and leads the mastermind group).
It should not come as any surprise to see Hill’s original vision transform and now 89 years after Law of Success was published, there are many for-profit, high-level, high-fee mastermind group opportunities available.
I believe this is a good thing for many different reasons. The world needs more powerful and meaningful mastermind groups to solve problems and advance big ideas.
While there is nothing wrong with a free or peer-to-peer mastermind group, it’s been my experience the most serious and long-term growth comes from high-level, high-fee mastermind groups that are led by individuals who have an expertise and can lead a group of 8 – 15 members towards a common objective.
For this article, and the remaining articles I’m writing about being in the business of paid mastermind groups, I am going to focus on a very specific type of mastermind group that typically has these features:
- 8 – 15 paid members
- Annual membership fees of $10,000 or more
- The group’s common objective is typically focused on business growth
- The group may be focused on a specific niche or industry or may be made up of different types of members
- In-person, face-to-face meetings throughout the year
- Other optional member benefits
For members, these types of paid mastermind groups offer the opportunity to transform their life and/or business in a uniquely powerful way.
In addition to all the powerful ideas generated in a high-end, formal mastermind group, connecting members is profoundly important and profitable for them, and often these groups provide fertile ground for profitable joint-ventures between members.
Being around other big-thinkers and success-oriented people is not a common practice for most business owners. The business owner willing to invest $10K or more in a high-level, high-fee mastermind group is typically a different type of person. Creating a group of these types of BIG-THINKERS and ACTION-TAKERS benefits every member in extraordinary ways.
DO YOU HAVE WHAT IT TAKES TO LEAD A HIGH-LEVEL, HIGH-FEE MASTERMIND GROUP?
Being in the business of leading a high-end, paid mastermind group is a HUGE game-changer for the right person. When I started running my first paid group back in 2006, it was a pivotal moment in my business life for many reasons, including:
- Starting your own high-level, high-fee mastermind group allows you to substantially monetize your experience and expertise all while helping others get what they want. It is a WIN-WIN opportunity.
- Being in the high-level, high-fee mastermind group business is a small-numbers business that doesn’t require you to have a huge marketing list. It’s a perfect way for somebody who has a specific expertise/knowledge/celebrity” to build a profitable NEW income stream.
- When you build a high-level, high-fee mastermind group, you will be rewarded with a substantial amount of income in return for a relatively low investment of time and expense. You are paid for your ability to CONNECT and LEAD.
- You can operate a high-level, high-fee mastermind group from anywhere in the world because it requires minimum overhead, expense and no employees.
- Facilitating a high-level, high-fee mastermind group improves your communication and leadership skills, and leading it will elevate your authority position and level of influence.
- The six-figure income stream that comes from overseeing a high-level, high-fee mastermind group enables you to take extraordinary vacations with your family, send your child to private school, buy the house or car of your dreams, give back to help others or whatever motivates you.
- What I personally love about running a small-group, paid mastermind is that they are dramatically different than large group-format mastermind (which I hesitate to call formal mastermind groups) and coaching groups. For me the intimacy and ability to get to know my members and build harmony are keys to sustaining a strong mastermind group.
If you have a love of helping other people and have a specific expertise or knowledge, I strongly encourage you to investigate the opportunity to start your own high-level, high-fee mastermind group.
While there is a lot more to it than simply making the first decision, I can tell you that if you are serious and motivated, you can do it!