Who can run a mastermind? You might be wondering whose business is best suited for running masterminds. In fact, you might be wondering, is my business suited for running a mastermind? Would a mastermind fit within my offer suite and with what I do? So let's dive in.
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I'm Jen Argue, and I have been leading masterminds for the past five years for six and seven-figure entrepreneurs, and I would love to help you start your own mastermind as well so that you can create a really big impact with those around you and work a lot less and make a lot more at the same time.
The short answer is anyone can run a mastermind. So if you want to turn off the show right now, you got your answer, but I know you are probably curious to dive deeper into this to hear about what it means for different types of business owners and what kinds of masterminds are best suited for them. Okay, so let's start off with person number one.
That is the service-based entrepreneur. The service-based entrepreneur is somebody who provides services for people. But those services tend to end at a certain point, and if they do have a course, it's typically just a course to help them with the DIY part of what they're getting service for, so that they don't have to pay you the higher price tag of doing the service for them.
But it really is to get them traction, get them going, and then they're on their way until they probably do want to come back to you. And just pay for you to do the work. So let's take that service-based provider. And the reason why I'm bringing this person up is because I had, uh, one of my previous members from one of my masterminds from years ago.
And yes, I still keep in touch with all my old masterminders, I loved them all. And you know, the Mastermind is a very special type of program where you really get close with people. These are lifetime friendships. So she reached out to me. She was intrigued about this program that I'm launching right now about how to run your own profitable mastermind, wondering if it really would fit for her.
And one of the things that I helped her to think through is maybe the Mastermind idea wouldn't be right for her clients, but she could have a mastermind for her peers. Other people who are doing what she's doing, or maybe even people who are in adjacent careers that would benefit from being in a group or they're supporting each other.
That got her excited and I could tell that lit her up because we all know it is hard to be running a business, especially alone. And when you have a support system around you who you can just reach out to on a moment's notice and who are as equally motivated to be achieving success in their business as you are, that really empowers you.
And of course, she knows this. Because she was in my mastermind and she was excited to think about starting her own. So that is one person. Another example of a service-based, like a very practical example, would be like a realtor. A realtor provides services to a client. Now if they have a course, it might be, um, if it was for their client, it might be on practical and successful ways to buy and sell a house or to, um, rent a good apartment, whatever it is.
That person is going to buy that course, but they're not necessarily going to be the type of person that would want to join a mastermind with you because once they've done this service, it's kind of done. So that's just an example of a service provider. Now that realtor, they could do a mastermind with other realtors, and that actually would be amazing because if they were forming a mastermind with realtors in all different areas around the country, they would get to help each other be on top of trends in the market and best selling practices or buying practices to help your clients.
That type of mastermind would be amazing for that person and to be the one running it would, well, there's benefits to that that I'm going to mention later. Okay, so the next group of people, number two. Our coaches, consultants, and course and membership owners or creators. So when you have this type of group, these are people who are helping people get to the next level, who they might have an ascension of products where they have a very low ticket item and then they offer higher ticket items, like maybe group coaching and even one-on-one services, but they don't have the mastermind yet.
And in this situation, You could do a standalone mastermind if you are a coach or consultant and you don't have any courses or memberships. Totally fine. This is how I ran my mastermind for five years, multiple masterminds. It was my primary offer, and so people came in. I call that a front-end offer. Now, if you already have courses and group memberships, Or coaching programs.
You can have a backend mastermind. A mastermind that is for your superstar clients. The ones who are super motivated, the ones who want to keep going to the next level, but they know. If they were in a group of other people who were just as motivated as them, that they could do things they probably couldn't even imagine.
And these types of masterminds are really successful for reasons that I've mentioned in past shows. A lot of the times if you have that type of mastermind in your ascension model of offers, what that does is it. Inspires people who are coming in. It inspires the person as they buy the course and they move into your group coaching to think and aspire to be in that mastermind with the superstars.
It gives them a goal beyond just accomplishing the things that you're helping them with right now. And so that kind of inspiration really helps with customer retention and it also helps with lifetime value. So you know when the lifetime value goes up per client, you have room to spend more on acquiring them in the first place.
And so it is good all around if you already have a course or group coaching program. So, To add that mastermind in. And what that also does, it gives people a little more one-on-one time with you without having to take actual one-on-one clients. So it is so good for you in all of those respects. Now, also, this coach consultant course or membership owner slash creator can also do what the service provider does.
They could have a mastermind just among industry peers. And so that would also help their business because they're learning from each other and they're going to get something that is going to help their business. If at the very least, that success culture that comes from getting the highly motivated people together, that will just encourage you to step out bigger, to do things bigger, and in those respects, you're still going to make more money.
It's just going to be in a different way. It's not going to be adding to the lifetime value of your customer. So let's move on to the third type of person. The third type of person is somebody who is not a business owner. They are somebody who is maybe employed or unemployed, you know, doesn't matter.
Let's take for example, an author, or artist, or a teacher or a parent, anybody basically who has a goal of any type. And when you decide like, let's take a teacher. If you are a teacher and you get excited about the idea about being a better teacher, about having your students have incredible test scores and incredible confidence and.
Really learn great social skills and other things that teachers have goals for. You might want to be in a group so you're not feeling like you're going at it all alone. You might want to have that group of other teachers who are just as motivated as you are. To come together and to strive to be the best because that is a really important goal for you.
You absolutely could have a peer-led mastermind for that same goes for authors or parents. I know there are a lot of dad masterminds out there, dads who are really successful at work and they need a little help being more successful at home. And so getting into a group with other dads who are striving for those same goals is, oh, it's just so inspiring and encouraging and it gives you the energy to keep going and it gives you the ideas of when you might be, feel like you're hitting a wall.
Somebody else comes in and says, I've done that before and this is how I got through it, and. Everybody needs that in their life. It doesn't matter what you're doing, whether it's something you're getting paid for or not if it's a goal that you have, probably other people have the same goal too. And a mastermind would be a great, great option for something like that because it's one thing to join a group and it's another to join a group of highly motivated people.
And all focused on the same goal. So those are the three different types of people who could run different types of masterminds. So yes, anyone can start their mastermind and reach their goals with a group of people who also want to reach the same goals. So I hope that answers the question in your mind. If you've been wondering if a mastermind is good for you.
It absolutely is. And knowing which kind to run and knowing the difference of the benefits between the different types is helpful in helping you choose what kind of Mastermind you want to invest in. You think about the benefits that you want, what is going to give you those benefits? Is it going to be a mastermind for clients?
Is it going to be a mastermind among peers? Or is it going to be a mastermind around a special interest? You could even have health-oriented masterminds, so many different types. People who are interested in plants and want to grow amazing healthy plants. Truly bird watching, anything. It's so fun to think about and it's so fun to think about being with others who are truly passionate about whatever it is you're passionate about too, to help you grow, to be even better, and more.
Well-versed and more successful in what you're shooting for. So hopefully that helps you if you want to start your own mastermind. I am in a launch right now where I have the doors open to my very first group coaching program to help you start your own amazing mastermind. We are focusing on profitability with your Mastermind, and part of being profitable with a Mastermind is doing it the right way.
That means in designing it the right way, marketing it the right way, and delivering it the right way. And we're focusing on all those things. And right now, if you joined us at this time, you would be part of the founding cohort, and I am. So excited to be working with the founding group of this program. I have all types of perks for you, and I'm so excited to lead you through it and to help you launch your own successful mastermind.
And I want to help you get yours off the ground so that you can bring that ripple effect of good into the world because we know. That good comes out of good communities, good supportive communities, just exponentially create more and more good in the world. And I am all about that. And. As people, we need to be connected.
We need to be supported as we're taking really big strides in whatever we're shooting for with our goals. We are always going to be put in uncomfortable situations. We're going to be out of our comfort zone. We're going to have to be taking bigger leaps and sometimes. It's hard. It's hard to find the motivation inside when you're feeling really stretched because it can feel scary and exhausting.
I. But when you are in a group of other people who are also taking those really big steps, getting out of their comfort zones, just knowing that you're with other people who are doing the same gives you an incredible amount of confidence and reassurance and just exactly the type of support you need to not make it as scary or as overwhelming.
So I want to invite you to join the Founders Group of the Ultimate Mastermind Program and let me help you get your successful Mastermind off the ground. Wherever you're listening to us, look for the link and that's where you can join and I can't wait to see you in the founding cohort.
Thank you so much for listening today. I hope that if you found value in this that you would subscribe to my podcast and share it with a friend and leave a review.
Thank you so much!
