Have you ever been invited to a networking breakfast? Or a networking lunch? Or even a mastermind? These may seem sort of strange to the person who has never been to one before. But these types of situations are vital to moving yourself to talk with others about what you do, how you do it, and what you provide in the form of services and products.
Masterminds are one of the most significant ways of growing your business locally, especially if you are a coach.
This is my secret weapon to helping coaches that work with me market themselves. These events can be a meeting of a pre-established group; usually, I leverage the Chamber of Commerce members. But they can also bring together like-minded individuals who have never met before. These workshops are laser-focused when it comes to subject matter and attendees.
A mastermind is different than other networking events because it is intended to be a roundtable discussion. It is where attendees learn from each other as much as they do from the facilitators and presenters. Instead of inspirational speeches and how-to presentations, masterminds have a heavy focus on significant vision planning and complex problem-solving. The more actionable takeaways, the better.
You have the opportunity to make a presentation in front of a room full of potential clients
This reason alone makes it worth the trouble and investment. You can leave with your “pockets” full of new clients, and you can get booked in advance for the following months. For a lot of business coaches, it is more than enough to host 1 or 2 masterminds per year to get all the work they need for that particular year. Mindblowing, right?
Not actually. It makes sense if you take a better look at it. You are gathering people from your local city in one single place. Business owners that have similar issues and desires, and that are always in need of improvement. After all, who doesn’t want to take their business to a new level and make more money?
Just make sure you do your “homework” in time. You need to be as prepared as possible to give as much value as you can to create an interest in your services.
Now, what do you need to take in consideration when you are hosting a mini-mastermind:
Decide on the size of it.
You can have mini-masterminds with up to 5 people or larger ones with more than 10. Ideally, you should host mini-masterminds that way you can concentrate your attention and give more value than you could with 20 people.
- Invite people that count – You don’t want people that have nothing to do with what you do present at your mastermind. You want it to pack with talented people, with those that are in your target audience. If that’s not so, then you are wasting your time, because they won’t come and even if they do, they won’t be interested in what you have to say or offer. Decide on the criteria for the group and what you want the shared interests to be. It’s important to develop standards for the group so that you’re able to speak at a higher level of expertise about a particular topic. You don’t want everyone to look absolutely identical, but generally speaking, having a shared baseline is essential.
- Set a Goal – The mastermind will serve a purpose; get clear on what it is. Is it to help grow, develop, and shape each other? To let people know about your services and what you can do for them? To provide value as much as you can and gather new contacts for your list? Make sure it is as clear as possible and do everything accordingly to that goal.
Let’s take a look at how it should look too:
You need to create a presentation highlighting the five most important areas you focus on with your coaching.
Don’t overstretch with the introduction, but don’t make it short either. Make sure it is the right size, so the viewers get all the information they need while not getting bored. Discuss the topic with the participants and ask them for honest feedback. You want them to be as straightforward with you as possible to learn and improve both your presentation skills and your general business and marketing skills. Also, have a workbook for each participant so they can take notes.
Has it printed with your logo that will help you out long term, when they will use your workbook in the future (possibly for other records), they will see it and automatically they will think about you and your brand, and that’s free advertising? By now you should have a good understanding of how masterminds work, what to take in consideration when hosting one and what kind of benefits you will get if you do so.
There might be other particularities, but this article is for you to get accustomed to the meaning of masterminds and to convince you to start hosting mini-masterminds in your local community to get that extra boost for your business. It can be a goldmine if you approach it the right way, and it would be sad if you would let it go past you. Take action and start planning!