The Best 11 Mastermind Groups For Entrepreneurs

Looking for the best mastermind groups for entrepreneurs? You’ve come to the right place.

In this blog we will cover the best mastermind groups for authors, business owners, and entrepreneurs so you can make the most of your network.

But what is a mastermind group exactly? Let’s take a look at the different types of groups you can join before diving into their benefits – and the top mastermind groups for entrepreneurs out there today.

What is a mastermind group?

There are two main types of mastermind groups: peer-to-peer and coach-driven.

Peer-driven masterminds are often the smaller, more intimate groups where each member brings something of value to the table based on their personal experiences and expertise. The specific focus is on learning lessons from each member of the group.

Coach-driven masterminds (not to be confused with group coaching) are typically larger groups (think mastermind.com) where an expert or experts facilitate group learning. There’s still an opportunity to learn from other members of the group (e.g., forums, social media groups), but because of the large group size, one person or a small group of people sparks the conversations to move the momentum of learning forward.

Within the different types of masterminds are additional categories:

• Career-focused – groups that are focused on helping you achieve your career goals
  
• Entrepreneurial – for business owners who want to grow their businesses
  
• Hybrid – a combination of multiple categories (e.g., personal growth and business development)
  
• Leadership building – these groups focus on developing interpersonal skills across all industries and disciplines
  
• Personal development – groups that focus on personal well-being like mind, body, and spirit

Related:

• Tony Robbins Books
• How to Write a Conference Bio

Pros of mastermind groups for entrepreneurs

What is a mastermind group good for? Well, it’s one thing to take a course or watch a YouTube video on something you want to learn. It’s quite different when you can tap into the minds and experiences of others who are walking a similar path as yours or who have already been where you are now.

Joining a mastermind group gives you an opportunity in real time to bounce ideas off of each other and ask questions as they come up in the moment. 

Here are some additional benefits of masterminds.

• Accountability – One of the hardest things about changing something in your life is not having someone to hold you accountable. Inner circles offer an opportunity to partner with with others to push each other forward. 
  
• Clarity/focus – Sometimes you’re all over the place. Having someone who can take an objective look at where you are can provide a clearer path to your goal.
  
• Confidentiality – When you feel like you have a safe place to land, you’re more vulnerable. In the right group, this can open you up to deeper exploration and better answers.
  
• Emotional support – Entrepreneurship can be lonely and stressful. A mastermind group provides a supportive environment where members can share struggles, celebrate successes, and provide moral support. This can help reduce feelings of isolation and foster a sense of community.
  
• Relationship building/networking – As you share common goals and challenges, developing lasting relationships can be an added benefit.
  
• Faster learning – Learning time is shortened when past mistakes are removed from the equation. When someone shares with you what they’ve learned from their experiences, including mistakes, you are able to better develop an effective strategy to get you to where you want to go.
  
• Access to resources – Group members may share valuable resources, such as tools, software, or business contacts that they have found useful. This can help entrepreneurs access things they might not have known about or been able to afford on their own.
  
• Diverse perspectives and insights – Entrepreneurs often have a limited view of their own business challenges. Mastermind groups bring together individuals from diverse industries and backgrounds, offering fresh insights and perspectives that may help entrepreneurs solve problems creatively and think outside the box.
  
• Wisdom/experience – One of the greatest benefits of any good mastermind is the wealth of knowledge and experience to which you gain access. 

Cons of mastermind groups for entrepreneurs

Mastermind groups for entrepreneurs can offer significant benefits, but there are some potential downsides to consider:

• Group dynamics and compatibility – Not all group members may have compatible personalities, values, or business goals. Conflicts or a lack of mutual understanding can undermine the effectiveness of the group and make it difficult to work together.

• Time commitment – Regular meetings, preparation for group sessions, and follow-up tasks can become time-consuming. Entrepreneurs already have busy schedules, so this additional time commitment may feel burdensome.

• Inconsistent advice – Entrepreneurs may receive conflicting advice from group members with different experiences, which can lead to confusion rather than clarity. This can sometimes lead to making decisions based on incomplete or contradictory perspectives.

• Groupthink – In some cases, group members may be too agreeable or reluctant to challenge each other’s ideas. This can create a “groupthink” environment where innovative, out-of-the-box thinking is stifled, and people go along with popular opinions without considering alternatives.

• High expectations – The group can create a high level of accountability, which can be motivating for some but overwhelming for others. This pressure to perform or meet goals can cause stress, particularly if business owners feel they are falling behind.

• Lack of privacy – Mastermind groups often involve sharing business strategies, personal struggles, and financial details. If confidentiality isn’t properly maintained, this can lead to a loss of privacy, especially if other members don’t adhere to agreed-upon boundaries.

• Cost – Depending on the group, the mastermind group cost can be expensive. If the group doesn’t deliver the expected value, the financial investment may feel like a waste.

The top 11 mastermind groups for entrepreneurs

A quick Google search for “mastermind groups for entrepreneurs” will provide lists of popular masterminds. Narrow down to a specific category like “author mastermind” or “entrepreneur masterminds for founders,” and you’re likely to come across a group that is the right fit for your current needs. 

You can also search on social media like LinkedIn and Facebook for mastermind groups for entrepreneurs. Other places to consider searching are sites like Meetup.com. In the US, check with your local chamber of commerce or ask friends and colleagues if they have recommendations.

Here are the 11 top mastermind groups for entrepreneurs, along with reasons why they are highly regarded:

1. Entrepreneurs’ Organization (EO)

EO is a global network of entrepreneurs with a focus on peer-to-peer learning. It provides members with access to a diverse group of successful entrepreneurs, offering invaluable insights, networking opportunities, and personal growth.

Pros:

• Networking Opportunities: EO provides access to a global network of like-minded entrepreneurs. This can lead to valuable business connections, partnerships, and collaboration opportunities. The ability to connect with successful entrepreneurs across industries can be an incredible advantage.
  
• Peer Learning and Support: One of the core strengths of EO is its focus on peer-to-peer learning. Members can share their experiences, discuss challenges, and provide insights from their own businesses. This sense of community can lead to personal growth and valuable business lessons.
  
• Global Reach: With chapters worldwide, EO gives entrepreneurs the opportunity to learn from international perspectives and expand their reach into global markets. This global community can provide new ideas, trends, and opportunities beyond one’s local market.

Cons:

• High Membership Fees: EO has a significant membership fee, which can be a barrier for some entrepreneurs. The cost can range from a few thousand dollars to over $5,000 annually, depending on the location and size of the chapter. This may not be feasible for entrepreneurs with limited resources.
  
• Exclusive Eligibility Requirements: To join EO, entrepreneurs typically need to have a business that meets specific revenue thresholds (usually around $1 million in annual revenue). This exclusivity may exclude early-stage entrepreneurs or those with smaller businesses from benefiting from the organization’s resources.
  
• Time Commitment: EO’s programs, meetings, and events require a significant time investment. Entrepreneurs may find it challenging to balance the demands of running a business with the commitments required by EO, especially when business responsibilities are high.

2. Young Presidents’ Organization (YPO)

YPO connects young CEOs and business leaders, offering a platform for leadership development, networking, and sharing of best practices. Members benefit from high-caliber peer support and exclusive educational resources.

Pros:

• Exclusive Network of Peers: YPO provides access to a network of highly accomplished and influential business leaders from around the world. The ability to connect with other CEOs, entrepreneurs, and executives offers unique opportunities for partnerships, collaboration, and idea exchange. This community can foster both personal and business growth.
  
• Educational and Leadership Development: YPO offers a wide range of learning opportunities, from leadership development programs to seminars and events featuring top-tier thought leaders, academics, and speakers. These resources can help entrepreneurs and executives develop their skills in leadership, business management, and strategy.
  
• Mentorship and Peer Support: YPO members benefit from a robust support system, often gaining mentorship from individuals who have faced similar challenges. The organization promotes sharing experiences in a confidential and trusting environment, allowing for deep, meaningful conversations that help solve personal and business problems.

Cons:

• High Membership Costs: Membership in YPO can be quite expensive, often involving initiation fees and annual dues. While the organization provides access to invaluable resources, the cost can be a significant barrier for some entrepreneurs, particularly those in smaller businesses or those just starting out.
  
• Exclusive Membership Requirements: YPO has strict eligibility criteria, including requirements related to company size (usually a minimum revenue threshold) and leadership position. This means that only a select group of young leaders can join, potentially leaving out many talented business owners who don’t meet these high thresholds.
  
• Time Commitment: Active participation in YPO events, forums, and programs requires a considerable time investment. Entrepreneurs and executives already have demanding schedules, and the need to attend global events, networking opportunities, and leadership development sessions may be difficult to manage, especially when balancing business responsibilities.

3. Strategic Coach

Founded by Dan Sullivan, Strategic Coach focuses on helping entrepreneurs scale their businesses and achieve personal success through structured coaching, goal-setting, and accountability.

Pros:

• Focus on Personal and Business Growth: Strategic Coach emphasizes both personal and business development, helping entrepreneurs clarify their goals, improve their leadership abilities, and better manage their time. This holistic approach fosters sustainable business growth and personal well-being.
  
• Proven Framework: The program offers a structured, time-tested framework based on the concept of “Unique Ability,” where entrepreneurs learn to focus on what they do best, delegate tasks that drain their energy, and scale their businesses more effectively. This clarity can lead to greater success and fulfillment.
  
• Small Group Environment: Strategic Coach works with small groups of entrepreneurs (usually within similar industries), which creates an intimate and supportive atmosphere. This allows for deeper connections and a stronger sense of accountability compared to larger, more impersonal groups.

Cons:

• High Cost: Strategic Coach is known for its significant cost, which may not be feasible for all entrepreneurs, especially those with smaller businesses or tighter budgets. The price can range from several thousand to tens of thousands of dollars per year, depending on the level of coaching and services.
  
• Focus on Growth, Not Necessarily Startups: The program is primarily designed for entrepreneurs looking to grow and scale established businesses. Startups or early-stage entrepreneurs may find the program less relevant to their specific challenges, as it is more geared toward scaling than foundational business-building.
  
• Time Commitment: The program requires regular attendance at workshops, coaching sessions, and other events. For entrepreneurs already managing busy schedules, this time commitment can be challenging to maintain. Missing sessions may hinder the progress of personal and business development.

4. Vistage

Vistage provides executive coaching and peer advisory groups tailored to CEOs, executives, and business owners. It emphasizes actionable insights, problem-solving, and leadership development through regular meetings and expert coaching.

Pros:

• Peer-to-Peer Advisory Board: Vistage offers a unique peer advisory board where CEOs and business leaders meet regularly to discuss their challenges, share advice, and learn from each other’s experiences. This peer-driven support can lead to actionable insights and diverse perspectives on leadership and business growth.
  
• Access to Expert Coaching: In addition to peer advisory sessions, Vistage members have access to executive coaches who provide personalized guidance on leadership development, strategic decisions, and business challenges. This expert coaching can help refine leadership skills and decision-making.
  
• Exclusive Networking Opportunities: Vistage connects business leaders from a wide range of industries, offering valuable networking opportunities. This community of successful entrepreneurs and executives can lead to potential collaborations, partnerships, and business opportunities.

Cons:

• High Cost: Vistage requires a significant financial investment, which can be a deterrent for small business owners or those in the early stages of business. Membership costs can range from a few thousand dollars annually, and some members may not feel the return on investment.
  
• Group Dynamics May Not Be Ideal: While the peer advisory board model is effective for many, some members may struggle with group dynamics. If there is a lack of trust or compatibility within the group, the value of the advisory sessions can be diminished. Additionally, some members may dominate conversations, leaving less room for others to contribute.
  
• Time Commitment: Vistage requires a time commitment for monthly meetings, coaching sessions, and additional events. This can be difficult for busy CEOs and executives to fit into their already packed schedules, especially when running a company.

5. Mastermind Talks (MMT)

Created by Jayson Gaignard, MMT hosts high-level mastermind events featuring influential speakers and successful entrepreneurs. The group emphasizes deep connections, transformative experiences, and high-impact strategies.

Pros:

• High-Quality, Exclusive Network: MMT is an invite-only community, which means that the members are often highly accomplished entrepreneurs and business leaders. Being part of this group offers access to a powerful network of like-minded individuals who can open doors to new opportunities, partnerships, and collaborations.
  
• Intimate Setting for Deep Connections: The group is designed to be small and intimate, allowing for in-depth conversations and personalized attention. Unlike larger masterminds, MMT fosters meaningful relationships and offers an environment where members can get to know one another on a personal and professional level.
  
• Curated and High-Level Content: MMT events are known for bringing in top-tier speakers, mentors, and experts. Members get access to exclusive learning and growth opportunities through curated workshops, discussions, and keynotes from some of the best minds in business and entrepreneurship.

Cons:

• High Membership Cost: Because of the exclusive nature of MMT, the membership cost can be quite steep. The investment required might not be feasible for everyone, especially for entrepreneurs in earlier stages of their business or those with smaller budgets.
  
• Limited Availability: As an invite-only mastermind, not everyone has access to MMT. The selection process is highly competitive, and some individuals may not be able to join even if they are interested in the group. This limitation may also create a feeling of exclusivity that can be a barrier for some.
  
• Focused on Established Entrepreneurs: MMT is generally targeted at highly successful entrepreneurs, which may make it less suitable for those just starting their business journey. Entrepreneurs who are early in their career may find that the group is more focused on advanced strategies, making it challenging to fully participate in certain discussions.

6. The Advisory Board

The Advisory Board offers personalized mastermind sessions and advisory boards for business leaders. Members gain strategic guidance and insights from experienced professionals and industry experts.

Pros:

• High-Quality Peer Network: The group consists of successful business leaders and entrepreneurs, providing an opportunity to collaborate with peers who bring significant experience and wisdom to the table. Members can receive valuable insights and feedback from others who are at similar or higher business levels.
  
• Strategic Business Advice: Members of the Advisory Board often come from diverse industries, which allows for cross-industry insights and innovative strategies that can be applied to your business. The feedback from such a diverse group can lead to creative problem-solving and fresh approaches to business growth.
  
• Confidential and Supportive Environment: Advisory Board mastermind groups create a trusted, confidential space for members to openly discuss business challenges. This environment encourages transparency and allows for in-depth discussions that can lead to actionable solutions and new perspectives.

Cons:

• Membership Fees Can Be Expensive: Membership in The Advisory Board Mastermind Group is often costly. These fees can be prohibitive for entrepreneurs with smaller businesses or those just starting out. The value of the group may not always be perceived as worth the financial investment, especially if the business is not yet at the stage where it can fully benefit from strategic advice.
  
• Group Dynamics May Not Always Align: While the diverse group brings a lot of expertise, there’s a risk that the business dynamics or priorities may not always align with your needs. For example, if you are in a niche market, some members may not have relevant experience to provide specific insights into your challenges.
  
• Time Commitment: Advisory Board mastermind groups typically involve regular meetings, which can be time-consuming for busy entrepreneurs. Attending sessions and preparing for discussions may be challenging for business owners who already have a lot on their plate. Missing meetings can also limit the value you gain from the group.

7. Mindvalley Business Masterminds

As part of the Mindvalley network, this group focuses on both personal and business transformation. It combines cutting-edge personal development with practical business strategies and networking.

Pros:

• Holistic Approach to Business: Mindvalley’s Business Masterminds integrate business growth with personal development, which can result in well-rounded success. Members not only learn practical business strategies but also focus on mindset, leadership, and productivity to create a balanced life and thriving business.
  
• Access to Leading Experts: Mindvalley features top-tier business experts, mentors, and thought leaders from various industries. This includes guidance on everything from marketing and sales to emotional intelligence and leadership. Access to such world-class mentors can be invaluable for scaling your business.
  
• Networking and Community: Mindvalley fosters a global community of like-minded entrepreneurs and professionals. This network allows for collaboration, partnership opportunities, and learning from others who share similar goals. The sense of community is often a standout feature, providing encouragement and support from peers around the world.

Cons:

• High Cost: Mindvalley programs, including their Business Masterminds, can be quite expensive. This may be prohibitive for entrepreneurs or small business owners who are just starting or who have limited budgets. The cost may not justify the return for all participants.
  
• Emphasis on Personal Development May Not Be for Everyone: While Mindvalley’s holistic approach to business is appealing to many, some entrepreneurs may find the personal development side of the program too focused on mindset rather than purely practical business advice. This could make the program feel less suitable for those who want strictly business-related coaching.
  
• Large Groups May Limit Personalized Attention: Due to the global nature of Mindvalley’s programs, there can be a large number of participants in each cohort. This can sometimes limit the amount of one-on-one coaching and personalized feedback you receive, especially compared to more intimate mastermind groups.

8. The Collective

The Collective focuses on collaboration among entrepreneurs and business owners. It provides a platform for exchanging ideas, strategic planning, and mutual support in a growth-oriented environment.

Pros:

• Collaborative and Supportive Environment: The Collective emphasizes collaboration, where members help each other through challenges and share experiences. This creates a strong sense of community and provides a platform for continuous learning and mutual support among entrepreneurs facing similar business hurdles.
  
• Expert Coaching and Mentorship: The Collective often offers direct access to experienced mentors and business coaches who provide tailored advice on growing and scaling your business. This expert input can help guide entrepreneurs through complex decisions and strategies in their business journey.
  
• Networking and Strategic Partnerships: Being part of The Collective offers members opportunities to network with other entrepreneurs and form strategic partnerships. Collaborating with individuals who have complementary skill sets or goals can lead to growth opportunities, joint ventures, and increased visibility for members’ businesses.

Cons:

• High Cost of Membership: Like many high-level masterminds, The Collective Mastermind Group comes with a significant membership fee. For some entrepreneurs, particularly those running smaller businesses or just starting out, this can be a financial barrier to entry.
  
• Varied Group Dynamics: While collaboration is a key benefit, some members may find that the group dynamics do not always align with their needs. The effectiveness of the mastermind group depends on how well the members’ backgrounds, business stages, and goals align. If there is a mismatch, it may impact the overall value of the group.
  
• Time Commitment: Active participation in The Collective requires a significant time commitment, as it often involves regular meetings, events, and follow-up actions. Entrepreneurs with busy schedules may find it difficult to fully engage, and missing meetings could reduce the value of the experience.

9. Small Business Mastermind

Tailored for small business owners, Small Business Mastermind offers a collaborative space for discussing business challenges, sharing strategies, and receiving actionable advice to drive growth and overcome obstacles.

Pros:

• Peer Support and Accountability: One of the biggest benefits of a Small Business Mastermind is the community. Members provide support, encouragement, and accountability to each other. This can help members stay focused on their goals and take action on their business challenges.
  
• Diverse Perspectives: Mastermind groups often include individuals from various industries. This diversity can be extremely valuable, as it offers different viewpoints, strategies, and experiences that may not be available in more industry-specific groups.
  
• Cost-Effective for Small Business Owners: Typically, Small Business Mastermind groups are more affordable than high-level business coaching or consulting services. This makes them accessible to entrepreneurs with smaller budgets who still want valuable input from peers and experts.

Cons:

• Varied Experience Levels: Members in a Small Business Mastermind may have varying levels of experience, which can sometimes create an imbalance in the quality of advice or insight. More experienced entrepreneurs might dominate discussions, leaving less experienced members without the guidance they need.
  
• Potential for Limited Expertise: While diversity is an advantage, it can also be a downside. If the group is too broad in terms of industries, members may not have the specific expertise needed to address the unique challenges of a particular business.
  
• Time Commitment: Regular meetings and follow-up actions can be time-consuming. For busy entrepreneurs, committing to a mastermind group’s schedule can be difficult, and missing meetings or not fully engaging may reduce the value of participation.

10. GrowthLab Mastermind

Founded by business strategist Ramit Sethi, GrowthLab Mastermind focuses on helping entrepreneurs accelerate their growth. It combines mentorship, strategy sessions, and networking to help members achieve significant business milestones.

Pros:

• Focused on Growth: The GrowthLab Mastermind specifically targets businesses looking to scale. If you’re an entrepreneur focused on growth, the insights, resources, and strategies shared in the group can be highly relevant and practical for rapidly expanding your business.
  
• Expert-Led Guidance: Many mastermind groups, including GrowthLab, feature coaches or mentors who have significant experience in business growth. This can provide tailored strategies and expert advice, making it more actionable than a general mastermind.
  
• Networking and Strategic Partnerships: With an emphasis on business growth, members of the GrowthLab Mastermind often seek to collaborate, form strategic partnerships, or even invest in each other’s businesses. This opens up opportunities for valuable business relationships and collaborations.

Cons:

• Higher Cost: GrowthLab Masterminds can be more expensive than other smaller or less specialized mastermind groups, making them less accessible for entrepreneurs on a tighter budget. The price reflects the expert-level guidance and resources offered, but not every entrepreneur may feel the investment is justified.
  
• High Expectations and Pressure: Because GrowthLab focuses on scaling businesses, there can be significant pressure to meet growth targets. Entrepreneurs who are in earlier stages of their business or those who aren’t yet ready to scale may feel overwhelmed or discouraged by the expectations set within the group.
  
• Focus on Fast Growth: The emphasis on scaling quickly can sometimes overlook the need for building solid foundations in the early stages of business. Entrepreneurs who are not yet ready to scale or who prefer a more sustainable, slow-growth approach may feel that the group’s focus is not aligned with their goals.

11. selfpublishing.com

selfpublishing.com undoubtedly has one of the best mastermind groups for authors. Get accountability and inspiration from business owners on the same journey as you! The mastermind group is included in the AAA Elite and Ghostwriting packages that selfpublishing.com offers.

Pros:

• Support for Self-Published Authors: The mastermind group focuses specifically on authors who have self-published or are looking to self-publish their books. Members get support in navigating the challenges of publishing independently, from writing and editing to marketing and distribution.
  
• Networking and Collaboration: Members of the mastermind group can connect with other authors, sharing experiences, advice, and strategies for growing their self-publishing businesses. This collaboration fosters a sense of community and helps members learn from others’ successes and failures.
  
• Access to Expert Guidance: The group often includes mentorship and coaching from successful self-published authors, industry experts, and professionals who provide guidance on key topics like book marketing, building a brand, increasing sales, and scaling a self-publishing business.
  
• Accountability and Motivation: As with most mastermind groups, the SelfPublishing.com Mastermind fosters a sense of accountability among its members. Regular meetings or interactions help members stay on track with their goals, whether it’s writing a certain number of books, hitting sales targets, or achieving marketing milestones.
  
• Educational Resources: The group often offers exclusive access to courses, workshops, and other learning resources. These materials can help members improve their writing, marketing, and business skills, giving them a competitive edge in the self-publishing world.
  
• Focused on Building a Long-Term Business: Unlike some short-term or purely creative writing-focused groups, the SelfPublishing.com Mastermind helps authors treat self-publishing as a sustainable business. The focus is on generating consistent revenue, scaling a portfolio of books, and creating an enduring brand.

Cons:

• Only For Self-Published Authors: If you are trying to publish your book traditionally, or aren’t an author at all, then this isn’t the mastermind group for you.
  
• Exclusive Membership: You can only get access to the mastermind group if you sign up for the AAA Elite or Ghostwriting package through selfpublishing.com.

These groups are highly regarded, but you want to take the time to find the right mastermind group for you. Mastermind groups for entrepreneurs need to be tailored to your goals, whether that be writing a book or hitting 7 figures.

How much do mastermind groups cost?

Mastermind group costs vary. Some are free and attached as a benefit to a program, while others, like Joe Polish’s Genius Network, can cost between $25k-100K yearly. Whether it costs a lot or a little, a mastermind group is always an investment of your time. Before selecting one, make sure that the return on your investment is worth it.

How to create your own mastermind group

When you author a book, you do more than just share knowledge; you etch your name in the realm of subject-matter experts.

This leap from a business professional to a recognized thought leader is monumental. Your book becomes a testament to your expertise, a tangible proof of your depth of knowledge and experience.

In the eyes of your readers, and consequently potential mastermind group members, you are not just another entrepreneur but an authority who commands respect and attention. This transition is pivotal, as it lays the foundation for the trust and credibility essential for successful mastermind groups for entrepreneurs.

The authority you garner from your book is not merely about perception; it directly translates into the ability to lead and influence.

A published book under your name provides a strong, persuasive argument for why individuals should seek your mentorship through a mastermind group. It’s a showcase of your ability to not only understand complex topics but to convey them effectively – a skill paramount in leading a mastermind group.

As you position yourself as an expert through your book, you naturally attract an audience that is more willing to invest in your guidance, advice, and the exclusive community a mastermind group offers.

The structure of your mastermind group is crucial to its success.

It needs to reflect the essence of your book while offering additional value that goes beyond its pages.

This balance is key to creating an engaging, sustainable mastermind group. The structure should not only facilitate learning and growth but also foster a sense of community and collaboration among members.

Here are five tips to help you structure your mastermind group effectively, ensuring that it resonates with your audience and maximizes the impact of your book.

Try these five ideas for an effective mastermind group:

• Regular Meetings: Set a consistent schedule for meetings to maintain engagement and momentum.
  
• Diverse Formats: Incorporate various formats like workshops, guest lectures, and open discussions.
  
• Actionable Goals: Set clear, actionable goals for each session to provide direction and purpose.
  
• Member Contributions: Encourage members to contribute content or lead sessions, enhancing engagement.
  
• Progress Tracking: Implement a system to track and review the progress of group members.

How to monetize your mastermind group

Your mastermind group should offer excellent value to those who join it – meaning you should expect to receive revenue in exchange.

Let’s take a closer look at the details of doing so.

Related: Our Honest Mastermind.com Review

How to price your mastermind group

Value-Based Pricing: Consider the value your mastermind group offers and set prices accordingly, ensuring they reflect the quality and depth of the experience.

Tiered Access: Offer different levels of access or membership, such as basic, premium, or VIP, each with its unique benefits and price points.

How to generate additional revenue

Complementary Products: Develop and sell products related to your book and mastermind topics, like workbooks or online courses.

Affiliate Marketing: Partner with relevant businesses for affiliate marketing opportunities within your mastermind group.

One-on-One Coaching: Offer personal coaching sessions at an additional cost for those seeking more personalized guidance.

Takeaway

Throughout history, we have many examples of leaders who’ve used mastermind groups for entrepreneurs for strategy and to improve their chances for success. From Andrew Carnegie and Henry Ford to Walt Disney and others. 

Before you think that these gatherings are only for the top “one-percenters” who meet at exclusive private retreats on remote islands, know that mastermind groups for entrepreneurs are for authors (and everyone else), too!

Well-known writers like C.S. Lewis and J.R.R. Tolkien gathered together regularly in their mastermind group called the Inklings to share their stories and get input. These writers were obviously talented, but don’t discount the impact that getting together with other writers had on improving their craft.

Masterminds are for anyone who wants to improve an area or areas of their life. They offer community, structure, and a place to test ideas and get feedback. The best mastermind groups for entrepreneurs meet you where you are and give you a safe space to not only learn and grow but to push you to be the best version of yourself.

If you are an author looking for a supportive community to learn more about writing and publishing books, selfpublishing.com offers an active mastermind group with a robust community (4.3K members) of eager and active writers. It’s one of the benefits of joining the selfpublishing.com family to publish your book.