Joining a mastermind can 10x your access to valuable networks, resources, wisdom and potential clients. But running your own mastermind can 10x your wealth.
Masterminds are an extremely powerful tool in wealth building–not only because of their ability to bring in revenue and secondary benefits, but because they can build you massive wealth from both sides.
It takes money to make money; and if you’re already bringing in seven-figure revenue, you’ve probably already attended multiple masterminds. But creating your own mastermind? That’s a whole different beast.
It takes a huge investment of time, energy, and money to build a seven-figure mastermind launch. You need the right strategy, team, capital, marketing… But when done right, it can be astronomically successful in making you multi-millions. Which is why we recommend you schedule a guided Gap Analysis with one of our wealth-building experts. This free strategy session will give you a diagnostic breakdown of your financial situation and a clear roadmap to multi-million dollar wealth through business strategies like cash machines, masterminds, investing, and more.
Then, your next step is putting together a plan to strategically and wisely launch your mastermind. Let’s go over the 3 critical steps to turning your mastermind into a massive wealth-generating machine.
1. Join Joint Venture Communities
It’s not about the size of the group — it’s about the people that are in it. You need to attract the right people to your community if you’re looking to maximize your mastermind’s potential. Your first step is to join joint venture communities.
You can use these networks to collaborate and connect with like-minded wealth builders around the globe. These communities offer the perfect mix of people and profit. Figure out who you can support and how you can be valuable to significant people in these groups. By strategically attending events, you can target the right people and create a foundation for profitable relationships.
2. Launch a Joint Venture
In a mastermind, members seek out coaches and experts to help them build wealth. You may have a magic formula for success in buzzworthy categories like cryptocurrency or AI, but your mastermind won’t succeed unless you have access to a tribe of people actually looking to master that magic trick.
A mastermind coach doesn’t make seven figures because they are an expert in their niche–they do so through influence and traction. A joint venture allows you to get more of both. They allow you to strategically borrow the influence of your joint venture partners so you can gain the exposure you need.
By starting a joint venture first, you can stop chasing money and instead let the money come to you. Within nine months of setting up a joint venture, you should be able to take the next step and launch a successful mastermind.
3. Foster Relationships
Time is money for busy entrepreneurs and wealth-builders, so it’s unrealistic to foster each and every connection you make while networking.
The truth is, a mastermind with 30 people can lead to more deals and revenue than a mastermind with 400 people. Focusing on a small group of valuable members is a far more lucrative investment of time, energy and money than focusing on the group as a whole. Remember this; when your net is cast too wide, the fish swim through the holes.
So spend your money and resources on creating relationships with a few valuable members. Don’t trip over dollars to pick up pennies. Do what you can to be schedule in-person meetups and to build real connections with high-end members. Investments in these relationships will pay off tenfold in the long run.
Masterminds put us in the position of incredible leverage, influence and power. Running one of these wealth-building machines can put you in the driver’s seat to multi-million-dollar wealth. If you follow these tips and strategize with an expert, you will maximize your influence, expand your network and build resources that will catapult your mastermind to seven-figure success.
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