In my first year of business, most of my revenue came from 1-1 mentoring. I knew I wanted to create group programs, both to scale my business and to be able to serve more clients. But first I needed to crack the code on how to make the transition. If you’ve been wanting to scale this way, this post is for you.
I’m sharing how I sold out my first group program and how I’ve been able to transition my business to having most of my revenue coming from group programs. If this is what you want to do too, read on.
What is a Mastermind?
A mastermind is a peer-mentoring group of individuals who meet on a regular basis (in-person or virtually) to push each other to work to their highest potential and hold each other accountable. Most successful entrepreneurs today use masterminds to grow their business and work on their personal development.
One of Jim Rohn’s quotes is my favorite: “You are the average of the five people you spend the most time with.”You are the average of the five people you spend the most time with. @OfficialJimRohn
Are the people you’re spending the most time with helping you with your personal development and business’ growth? If not, then this is where participating in and being part of a mastermind group can not just help you but also dramatically improve your life and business.
If you haven’t joined one yet, I highly recommend that you do because it’s important for entrepreneurs, especially those who work from home – like myself – to be in a mastermind group.
Joining one yourself is key in accelerating your business. Besides, by joining a mastermind you’ll learn so much about how to run and be a participant in a mastermind group before you launch one yourself.
I prefer to teach what I’ve actually done myself. I had been a part of several free mastermind groups before I decided to create my paid mastermind groups. This year I was a part of a paid mastermind group for the first time and next year I’m a part of an even higher level paid mastermind group.How to transition from mostly 1-1 clients to mostly group programs.
Why a Mastermind?
I’ve researched why people want to join mastermind and also asked my own group participants and the main reasons are:
It can also be lonely being an entrepreneur. Mastermind groups give you a sense of community that you both need and crave.
Pat Flynn (of Smart Passive Income) says a Mastermind Group is your “business family”. Family comes first, then your mastermind and then your friends. And in some cases, you turn to your group first before you go to your family. Like when things get really tight and you feel that these are the only people that truly understand what you’re going through.
It’s the place where you go to share first, whatever is going on in your business, because your mastermind buddies care and understand, and can help you solve any kind of business situation.