Masterminds are popular, and only growing in popularity. Thanks to the internet online masterminds are popping up and becoming even more common than in person masterminds.
I keep hearing people ask how they join an online mastermind, and while it may sound simple, it’s important to get it right because masterminds (especially online masterminds) usually come with a financial investment, and you want to make sure you’re spending your money wisely.
How you join a mastermind is going to depend entirely on you, your business, and the mastermind you’re interested in joining.
First, you need to get crystal clear on:
Where are you in your business?
Are you an aspiring entrepreneur or are you established?
Most reputable masterminds have an experience requirement that is measured usually by years in business or income generated. If you’re a newer entrepreneur, you won’t be able to get into a mastermind that is for entrepreneurs making $150k/yr.
By the same token, if you’re making only $150k/yr, you won’t qualify for a mastermind for entrepreneurs who are making $20k/mo.There is no point in joining a mastermind where the members are all significantly beneath you and where you’re at. If you’re the smartest or most experienced person in the mastermind, you’re in the wrong mastermind.
Are you still working in a 9–5?
Some masterminds, such as the one I co-founded, will not let you in if you still have a day job, whereas other masterminds are designed for people who are transitioning out of a 9–5.
What’s missing in your business?
Don’t just say, “I need to make more money” because that’s not specific enough. “More money” comes in many forms.
- Do you need to increase your profit margins?
- Do you need to attract more leads?
- Do you need to increase your lead closure rate?
- Do you need better systems?
- Do you need to automate?
What do you hope to achieve as a result of joining an online mastermind?
Do you need a community? Accountability? Or are you looking for education and training? Everyone’s goals are different and not every mastermind will be able to help you reach your goals. It’s important to know what you’re hoping to accomplish before you put in the effort of looking for a group.
What’s your budget?
Price points for masterminds range wildly. I’ve seen them as low as $29/mo, and as high as $10k/mo. Make sure you are joining/applying for a mastermind that is within your budget.
Next, you need to do some research.
Google is your best friend here. If you don’t know what’s out there, then you won’t know what you might be a good fit for. I suggest getting a pad of paper, or opening up a Google Sheet, and making notes about each mastermind you find. Make notes of the following:
- Price point.
- Refund policy.
- Founder’s name.
- URL of the sales page.
- URL of the application page.
- Deliverables of the mastermind group.
- Any metrics you need to meet in your business to join.
- Additional notes/thoughts/question that you may wish to ask the founder.
And once you’ve noted these things for each online mastermind you’re evaluating, rank the group on a scale of 1–5, with 1 being least likely to help you thrive and 5 being most likely to help you thrive.
After you’ve narrowed it down to the 1 (or 3) that are a good fit for you, and most likely to help you thrive, you can either join, or apply. Each mastermind is different.
If you’re not sure where to start, here are some online mastermind groups for you to check out.
These masterminds are for you if you’re newer in business:
, which isn’t just a mastermind, but also a business eduction program for entrepreneurs who are establishing themselves as a personal brand and using their personal brand as a differentiator.
Starts at $59/mo.
. The Screw is more of a business education program meets mastermind, much like Youpreneur, but designed specifically for people who have a 9–5 and are trying to get out of it.
Starts at $79/mo with a $179 entry fee.
. I’m a proud member of Peri10K. This is a mastermind for thoughtleaders and changemakers who are trying to grow their business, spread their message, and help the world through live-streaming. This is a very niche mastermind, and not everybody gets in. It is application only.
Starts at $97/mo, but the price is going up soon.
If you’re established in business, you need to be in one of these masterminds:
. Our online mastermind is designed for entrepreneurs who have thriving, successful businesses, and no 9–5s. In fact, if you’re not the founder, co-founder, or CEO of a business, you don’t qualify for entry.
Our group features weekly calls as well, but unlike many masterminds out there who rely on the collective knowledge of the group, we also have a board of mentors who can give you actionable advice in specific parts of your business.
Starts at $897 for 6 months (we currently have a special where you get an additional 2 months in this package).
This online mastermind is designed for female entrepreneurs who are already making 6 figures in their business. ProfitChix is a small group mastermind, meaning you won’t have 100 or more entrepreneurs to connect with, but instead, you will connect with 9 other entrepreneurs (including the organizer).
This program runs for 6 months and costs $6k.
Once you’re in a mastermind:
It’s easy to get into an online mastermind, be all excited for a week, and then have the group fizzle out for you. To get the most out of your mastermind once you’ve joined, make sure to follow these tips:
- Participate! You only get out what you put in. If you put in no effort, you’re likely to get no results.
- Don’t leave after one month because your business hasn’t suddenly exploded. You made a commitment, and when you suddenly leave, you’re not only shooting yourself in the foot, you’re also hurting the community.
- Block out the call schedule on your calendar as soon as you join so you never miss a call. Calls, whether they’re weekly or monthly, are where you’er’ going to get actionable advice.