I’ve been in great masterminds and i’ve been in not-so-great masterminds. After spending 500k on self-development, I want to save you the pain and heartache of joining a mastermind that isn’t right for you.
Masterminds are powerful and they can help you to grow to the next level of business. You get to tap into the leader(s) of the mastermind as well as the power of the group.
Below are five questions to ask yourself before joining a mastermind group.
#1) What Is Your Goal?
There’s a lot of Masterminds out there but what is your goal? When you know what you want to achieve you can begin to look for masterminds that help with that goal. A helpful exercise is to write down the top 3-5 pain points in your business right now.
#2) Who Is Leading The Mastermind?
Now that you know what you want, now it’s time to look at masterminds available and who’s leading it. Are the coaches or leaders of the masterminds experts in the area you need to improve? Has the leader of the mastermind replicated themselves into their students? And do you align with the core values of this person? They will influence you so do you agree with their personal life choices and want that person leading you?
#3) How Do You Measure Up To The Other Members?
A great question to consider is how do you measure up against the other people in the mastermind. Are you going to be the small wish or big whale? The ego wants to go into a room of people and be the biggest player but the real reason to join a mastermind is to get stretched. To get into a room of people doing far more than you so your BIG problems are their SMALL problems. That’s one of the most powerful aspects of a mastermind that no one talks about. The leader can be great but it’s a double whammy if the members stretch you too.
#4) What Is The Culture Like?
What do you see this mastermind celebrating in terms of milestones and achievements? Are those what you want in your business? If you have a family, is it filled with people who have families or is it filled with singles? It might have a very different culture if you are not around people with similar lifestyles to you. And do they gather in person or online? Which do you prefer? These are all part of the culture that should be taken into consideration.
#5) What Is The Potential Value / ROI?
Tony Robbins talks about taking healthy risk as business owners. You can be too risk averse and never take any risk and play safe. That stops your business from growing. And you can get into trouble taking on too much risk and not focusing on getting your ROI. Look at the mastermind and ask yourself what assets and resources you get access to. What kind of ROI can you expect from the program? What is the cost of the investment and what is the cost of not investing and staying where you are? For most people that’s lost time growing their business.
These are all important questions to ask yourself before investing in a mastermind.
Recently, Matt Wilber and I announced that we have our own mastermind group for Gym Owners. It’s called Fitness Empire Mastermind and our main goal is to help the Gym Owner with the business side of the house while providing team trainings and resources to help your team to develop too!
It’s everything you need under one roof and it’s now open for enrollment.
To apply, go to FitnessEmpireMastermind.com