Before diving in, it's crucial to begin with the 5-Step Planning Process so you have a clear picture of the entire map! Remember! There are just 5 easy steps: Dream it, Map it, Book it, Chunk it & Do it!
Before diving in, it's crucial to begin with the 5-Step Planning Process so you have a clear picture of the entire map! Remember! There are just 5 easy steps: Dream it, Map it, Book it, Chunk it & Do it!
A MASTERMIND is unlike most other offers out there, so everything must be treated differently. In short, a MASTERMIND is a long-term, high-level group coaching experience that brings together the right people to support each other in the obtainment of each others' goals.
It's for this reason, that your #1 job and priority is to ATTRACT the RIGHT PEOPLE... NOT the MOST AMOUNT of people.
So, it's great to set GOALS here, but it's important that you make your #1 GOAL to put the RIGHT PEOPLE in the RIGHT ROOM together, and someone isn't the "right" person, just because they can afford it.
It's also important to keep the size of your mastermind rather intimate. I suggest between 8 and 18 individuals for a 6 to 12 month commitment that includes AT LEAST two live events.
To craft, your goal, simply identify how many people and at WHAT PRICE would you like in your mastermind. And, to get REAL SPECIFIC with your goals, create a wishlist of the people you'd like to see in your mastermind!
And the good news, you don't need a MASSIVE AUDIENCE to fill your mastermind. If positioned and sold effectively, you can do this with a small list size and following.
The following is the EXACT 3-Phase approach I've used to SELL OUT my Mastermind 2 years in a row and generate +$1 Million in revenue.
Phase #1: Build Momentum:
In the first phase, I create a "waitlist page" to build an interest list. You can spend anywhere from a few weeks to a few months sharing buzz about what you are creating. This can be as simple as letting your audience know in an email or FB LIVE, "hey, I'm creating a mastermind."
Phase #2: Attract Applicants:
This is the phase in which you'll attract applicants to fill out an application for your mastermind. In the example above in the map, I use an "informational webinar" to explain more about WHAT my mastermind is all about, then I announce the price and how to apply. Using a webinar is absolutely optional. Just make sure there IS a deadline to apply.
You'll also notice that there is an option to require a "Yes I'm serious about applying" DEPOSIT from your applicants. If you have a LARGE audience with a lot of interest, a DEPOSIT helps to identify who is really serious.
Phase #3: The Applicant Interview:
In this final phase, you'll carefully interview your applicants to make sure they are a right fit for your mastermind. If they are, this is also the time to collect payment for your mastermind.
In Phase I, you'll create a WAIT LIST Page for your Mastermind in order to build up interest and excitement for your mastermind! I recommend spending at least 2 weeks (ideally 1 -2 months) building up momentum for this!
Now Accepting Applications! In Phase #2, you'll announce that you are now accepting applications! The best way to officially introduce WHAT your Mastermind is and if it's a right fit, is through a webinar! Just make sure there is a deadline to accept applications.
Phase 3 begins the moment you close down applications and begin to interview and select the right members for your group. The steps here are simple:
The "Chunked" Projects For Your Mastermind Launch (PDF Version / Excel Sheet Version):
Let's take a look at the process for filling your Mastermind, starting with your waitlist page!
Welcome to Phase #1: Build Momentum! Your job here to get the word out about your mastermind and build a interest list of prospective members!
Follow the Waitlist Page Process to create this page for your Mastermind Interest List.
Using a FB LIVE, an email or social post, inform your audience of WHAT you are doing, WHY you are doing it, and HOW a Mastermind can help!
Then, give a call to action that asks those who are interested to submit their email on the waitlist page.
Welcome to Phase #2! Here's you'll follow the steps to attract the right applicants who are interested in your mastermind!
In step 2.1, you can have the optional task of creating a simple "informational" webinar announcing all the details of your upcoming mastermind!
This is specifically for those who have shown interest in your mastermind and would like to know more. It is not a content-driven training webinar.
Some of the topics you should address on your webinar:
Below is a link to the replay to one of my previous webinars:
Now it's time to announce your mastermind and your upcoming webinar to your audience! I used a simple email, and I've included it below.
At the end of my webinar, I directed interested parties to a "sales page" for the mastermind where they could learn more and apply. I've included that sales page below.
(please use for inspiration and do not plagiarize)
In this step, you'll use software such as SurveyMonkey to create a simple APPLICATION. You'll want to take some time to brainstorm questions that really give you a complete picture of WHO the applicant is.
Here are some sample questions and topics to address:
In this step, we created a simple "Samcart Checkout Page" requiring a $1,000 DEPOSIT in order to be considered. This step is optional. If you foresee a ton of applications and you want to narrow those down, a deposit is a great way to do that.
In this step, you'll want to follow-up with everyone who expressed any interest in applying but who hasn't applied yet. This is your chance to REMIND them of the upcoming DEADLINE to apply. You'll notice, just like with any launch, most people apply on the last day or two.
Welcome to Phase #3! In this phase you will look through all your applications, and follow up with applicants to determine who is indeed a right fit for the group.
IMPORTANT: To keep the INTEGRITY of the group whole, it's imperative that you only select those who are a right fit for the group, not just someone who is willing to give you money. Those who are "not at the right level yet" or have a toxic attitude should not be accepted.
Step 3.1, my team and I would carefully review each and every application IN THE ORDER IN WHICH THEY CAME IN, and "grade" them on a scale of 1 to 10. We also took time to do further research on each applicant by reviewing their Instagram, Facebook and other social profiles.
In Step 3.2, we scheduled follow-up phone interviews with those who were a "right fit." You don't need to over think this. It's just a chance to re-ask the same questions from the application and probe a little deeper for more information. You're just looking to get a feel for who this person is and if they were truly be a right fit for the group.
In Step 3.3, you select your members and let them know! We did this by individually calling each member to CONGRATULATE them on being accepted.
Anyone who was not selected would immediately have their $1,000 deposit returned.
In Step 3.4, our team reaches out to each selected member with instructions on collecting payment. We offer a "Pay in Full" and a 12-Month "Payment Plan" option for all members. Their email has a link to both options and a deadline to sign up. We usually give up 4-6 days to sign up.
And again, we use a simple Samcart checkout link for payment.
BONUS: We also have our Mastermind Members sign a "contract" as well. This agreement states that they will complete the payment plan, and adhere to the rules of the group.
