Why You Should Attend Mastermind Group Coaching

Written by Tammy Durden

I love it when like-minded women come together. It’s always a great way to learn, gain wisdom, offer help, and form lasting bonds. As you know, we discussed the definition of Mastermind Group Coaching a few months ago. Today, however, I want to share with you why I think you should attend a Mastermind Group Coaching program.

I want to tell you that my Mastermind Group Coaching program is not similar to other groups. Other groups look like this…

[Group coaching]…participants of a group coaching program are on the receiving end of knowledge, wisdom, and experiences provided by the educator, trainer, or coach.

But with a mastermind, it’s really about giving and receiving to build strong mutual relationships.”

coaches and company

Let me clarify something for you about my mastermind group coaching right now. This is not a mastermind group and it is not a group coaching program. No, it is much better than that.

My group is a combination of both! And it is an ongoing group. It does not end in 12 weeks, 6 months, or even next year. As long as you belong it continues.

You may ask yourself, is this a good fit for my business? Even perhaps asking who should attend this group? Overall, Mastermind Group Coaching programs are beneficial for any solopreneur or business owner.

My Mastermind Group Coaching program is helpful for women online service providers (& agencies or solopreneurs) who are…

  • Ready to Grow
  • Want to Scale by Outsourcing (add a team or subcontractors)
  • Stuck and Not Sure What to Do Next
  • Struggling to Make It
  • Just Starting, Need Help, and Cannot Afford 1:1 Business Coaching
  • Unsure What Processes and Systems They Need
  • Needing Help with What to Automate
  • Uncertain of Your Pricing Strategy
  • Ready for Marketing Idea Boosts
  • Hitting a Revenue Wall

These are a handful of business owners who fall into these categories and would benefit greatly from a mastermind group coaching program.

As you have seen, not all Mastermind Group Coaching programs offer business coaching in their mastermind group experience. Some Masterminds offer a Masterclass but wrongly call it a “Mastermind”. Many Mastermind Groups focus only on members’ interaction with one another or on helping each other. This is a wonderful aspect of it, however, I felt that too many in groups needed actual business coaching and consulting but could not afford a private business coach.

Sylvie Leroux-Lanthier, Systems and Process Specialist, Steps3 Plus”

So, you know you are the right person who should attend the mastermind. Why, however, should you attend the mastermind group coaching? There are numerous reasons to attend and I will touch on some of them.

Reasons why you should attend the Mastermind Group Coaching program:

  • High-level Mastermind
  • 1-on-1 Business Coaching within the Group
  • Weekly 90 Minute Sessions
  • Goal Setting
  • Accountability
  • Access to Private Group
  • Like-minded Women Online Service-Based Businesses
  • Colleague Interaction
  • Form Referral Partnerships
  • Confidentiality
  • Limited Number Given Access
  • Learn from Other Business Owners
  • Offer Your Knowledge to Help Others
  • Confidentiality
  • Honest, Genuine, and Vulnerable Sharing
  • Form Close Bonds
  • GROW YOUR BUSINESS AND MOVE FORWARD

These along with many others are great reasons to join a mastermind group coaching program.

Professional Business Coaching is not included in all Mastermind groups. In fact, I have not seen coaching services offered in a Mastermind. Some Solopreneurs and online service providers cannot afford private 1-on-1 business coaching. It is expensive, especially if you do not yet have consistent revenue.

Did you know the average business coach’s program is between $500 to $5,000 monthly? Some coaches charge by the hour ranging from $100 to $500 per hour. (thank you Heights for the stats – quote below)

All of these fees and rates depend on the experience of the individual coach.

Many group programs are less expensive than the cost of a Professional 1-on-1 Business Coach.

Now you may be wondering if private coaching is so expensive what will the cost of a mastermind group coaching program be for me? It may surprise you that my program is very affordable.

Some 12-week Mastermind groups charge thousands of dollars! Unlike these groups, my group does not have an ending date it is an ongoing group. And my group does not cost thousands of dollars. I like offering it at an affordable rate that everyone can afford even if they cannot afford private business coaching.

In the Business Builder Camp website article they have an extensive list of group programs and their costs:

  • Tony Robbins Inner Circle: Price: $97/Month or $990/year. This is more of a program purchase than a mastermind group.
  • Entrepreneurs’ Organization (EO): Price: Membership fees vary by chapter and the size of the business but typically range from $2,000 to $7,500 per year. Forbes Indicates initiation costs $2,500 and then it is $2,400/year.
  • Vistage: Price: Membership fees range from approximately $10,000 to $20,000 per year, depending on the size of your business.
  • YPO (Young Presidents’ Organization): Price: Membership fees often exceed $10,000 per year.
  • Maverick1000:Price: Membership fees range from $5,000 to $10,000 per year.
  • War Room Mastermind: Price: Membership fees vary but can range from $20,000 to $50,000 per year.
  • Genius Network: Price: Membership fees range from $25,000 to $100,000 per year.
  • Tiger 21: Price: Membership fees are around $30,000 to $35,000 per year.
  • The Strategic Coach: Price: The program has different levels, and annual fees typically range from $12,000 to $60,000.
  • Mastermind.com: Price: Membership fees vary by program, and costs can range from a few thousand dollars to tens of thousands per year.
  • The Iron Council (by Order of Man): Price: Membership fees typically range from $97 to $297 per month.
  • Business Builder Camp: Price: Membership fees typically are around $1000/month. The specific in-person events usually have a separate cost to them.

From Business Builder Camp

Every mastermind group is different. My program, however, has become a community this past year. It’s a group of like-minded close friends, who did not know one another when they started. The entire group listens and offers wisdom from experience. In my group, I also provide business coaching when applicable. Many group coaching programs become a close-knit community, relying on one another for help. It is often the first place anyone goes for help and to ask questions.

I think I have made the point that each group is different. Therefore, you need to research the groups you are considering joining. View reviews about the coach and the program, and review their website thoroughly. One of the best ways to know if a group is a good fit is by getting a personal referral to a group or trying it out for a month.

As you begin to research consider these things:

  • Know who the group is and who owns it or runs it
  • Get to the Source – this will give you insight
  • Make sure the group speaks your language
  • Does the group understand your pain points
  • Are they going to be like-minded colleagues

I’m sure I missed a few things to consider but being cautious is a good rule of thumb. Ask around and see what others think of the group you are considering. And ask for referrals if you know anyone in a group. You can always join me when open enrollment is happening!

I hope you find the right group today, my friends. If I can help you please let me know. I’d love for you to consider my group, it is awesome.

with love from Tammy Durden of Fearless Business Boss

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