Mastermind Group Size?
Determining the size of your Mastermind Group is crucial as it will impact the income you can earn from a Mastermind Group and the reach and impact you can have your clients’ businesses.
How big do you want your Mastermind Group to be?
How many people you would like in your Mastermind Group depends on a number of factors, including the following:
- The time you want each member to have to raise their challenges and provide support;
- The number of days you want to set aside each month for your Mastermind Group
- The income you want to generate from the group for your business;
Let’s look at these items as a whole, as you will quickly see that by dealing with the time of each session first, it quickly sets the maximum number you can have in your group which then leads neatly into the price of your Mastermind Group Membership.
You need your Mastermind Members to have sufficient time to raise their issue, for the other members in the group to provide their ideas, then time to wrap up and ensure that each member commits to the action that they will take before the next Mastermind Day.
I have seen some people try and cram all of this into a 20 minute session!
The trouble with this is the timings which breakdown like this:
- 5-10 minutes to discuss the issue (s)
- 5 minutes to discuss solutions
- 5 minutes to summarise the actions and commitments.
It is not enough time to dive sufficiently deeply into the issues to provide good or solid solutions.
My firm belief is that you must allow at least 45 to 60 minutes to give real value and genuine break-throughs to the members. Any less and you are short changing them, any more and you may well end up dragging out the solutions.
Now that you know this, you can then decide how many people to aim for in your group.
I say ‘aim’, as it may be the case that you do not hit your ideal number when you first launch, but that should not stop you from launching.
Once you start your Mastermind Group and begin to generate success stories from your members, you will quickly be able to recruit new members to the group.
If you plan to run the event on one day (the most popular option), allowing for people to travel there to arrive, you might aim for a 10am to 6pm day, which with breaks, might look like this:
9.00am: Meet and greet and coffees
9.15am – 9.25am: Welcome and notes for the day (including agenda)
9.25am – 10am: 5 minute round table introducing each member and their reason for joining your Mastermind Group
10.15am: Mastermind Session 1
11.15am: Comfort Break
11.30am: Mastermind Session 2
12.30pm: Short Comfort Break
12.35pm: Mastermind Session 3
1.35pm: Lunch Break
2.35pm: Mastermind Session 4
3.35pm: Comfort Break
3.45pm: Mastermind Session 5
4.45pm: Short Comfort Break
4.50pm: Mastermind Session 6
5.50pm: Comfort Break
6.00pm: Summary, biggest wins of the day
6.15-6.30pm: End of Mastermind Day, head to the bar!
That would allow you to have six paying members in your Mastermind Group, seven including yourself.
Now that you know this, you can quickly decide what you would like to charge each member.
In the next section I provide you with all of the information that you need to determine the right pricing strategy for you and for your members.
Let’s see how much additional income this Mastermind Group is going to provide you with.
Free Sample Of My Mastermind Group Bluperint Training
The above is a small section of my paid training entitled ‘The Mastermind Group Blueprint, which covers everything that you need to know and do to start your own Mastermind Group successfully.
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