Masterminds are forums for business discussions among entrepreneurs. They may occur in person, via video conferencing, social media, or through other channels. For some, masterminds are just a planned means of connecting with like-minded individuals; for others, they are a tool for closing business.
Paying money to meet people may seem strange at first. But think about the self-help cliché that says your personality is the sum of the five individuals you spend the most time with. You will emulate your friends’ behavior if they moan about hardship. If they drink on the weekends, you’ll be aware of a few more avenues for social interaction. The prospect of entrepreneurship will seem more daunting to paid people. Habits spread quickly.
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This is why many consider joining mastermind groups. Below, we’ve listed 10 mastermind groups to help you as an entrepreneur.
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Who are mastermind groups for?
These groups cater to business owners and marketers who are keen to network with like-minded individuals and seek to establish significant commercial connections within their local community. Every member of a mastermind group is in charge of bringing up discussion points and is constantly looking for methods to support the other members.
Group Size
The purpose of these small, intimate groups is to promote candid conversation. Although open communication is encouraged, huge groups might be daunting. Developing deep relationships with others who share your circumstances is the aim. Doing this in a small group with everyone having the same goals is far simpler.
Top 10 Mastermind Groups for Entrepreneurs
1. Entrepreneur’s Organization (EO)
EO is possibly the most well-known brand of masterminds. Members include more than 13,000 entrepreneurs. Every one of them brings in more than $1 million a year. Meetings are held in person at nearby chapters, where topics of conversation include life and business balance.
EO is quite reasonable, provided you meet its standards. It is quite inexpensive to join compared to other organizations. There are members of the global network close to all major cities that are accessible by car. For good cause, it has been the 800-pound gorilla of masterminds since 1987.
KEY INFORMATION
- Founder: Verne Harnish
- Year Founded: 1987
- Headquarters: Alexandria, Virginia
- Cost: $2,500 initiation, $2,400/year
2. Eccountability
Eccountability provides the entire digital genius. Users establish profiles with information about their ambitions, industry, firm size, and other details. They are then paired with groups that share their profiles with the program, and they have weekly video conferences with these groups. It combines the adaptability of a digital interface with the drawbacks of a conventional mastermind.
It is highly suggested that digital entrepreneurs join this organization. Establishing a business can be lonely. Start it on your laptop. Eccountability’s digital solution makes it simple for people who share similar interests to locate and encourage one another’s objectives.
KEY INFORMATION
- Founder: Ronan Leonard
- Year Founded: 2016
- Headquarters: Melbourne, Australia
- Cost
- ‘Stag’ (standard): $2,499 for 3 months
- ‘Bull’ (Premier): $3,999 for 3 months
3. Business Network International (BNI)
Business Network International (BNI) is the biggest and easiest-to-reach mastermind. There are more than 8,989 chapters and 253,000 members worldwide. Social media and local chapter events provide opportunities for in-person interaction.
BNI arranges an incredible volume of business in addition to mentoring and community building. Within BNI’s network, 11.2 million referrals and $15.7 billion in agreements were completed last year. The sheer scale makes it possible for expansion through a variety of surprising alliances.
KEY INFORMATION
- Founders: Dr. Ivan Misner and Carolyn Denny
- Year Founded: 1984
- Headquarters: Charlotte, North Carolina, USA
- Cost: $500/year
4. 10X Ambition Program with Dan Sullivan
Dan Sullivan’s ’10X Ambition Program’ provides immediate access to the well-known coach. Members take part in a full-day boot camp with Sullivan once every three months. Beginners meet with a program advisor the following day to discuss goals and objectives for the next quarter.
Sullivan’s genius is the best option for growing startups. “The Self-Multiplying Company” is the focus of his main argument. Sullivan could have what it takes to get you past your “startup” period if you’ve achieved product-market fit and can plan two to three years ahead of time.
KEY INFORMATION
- Founder: Dan Sullivan
- Year Founded: 2005
- Headquarters: Toronto, Canada
- Cost: $25,000
5. Vistage
Vistage is an executive network that gathers in person. It is exclusive to executives whose companies generate more than $500k in revenue annually. Talks inside the group are sworn to be anonymous. Building a close-knit corporate network is the primary objective.
For larger startups, it’s perfect. Vistage is more mature and bears similarities to the Think and Grow Rich philosophy of Napoleon Hill. Not because I’m discounting it. Though your startup struggles will likely be less understood, Vistage will teach you priceless business strategies. It might be the perfect team for you if you’re a “CEO” rather than a “founder.”
KEY INFORMATION
- Founder: Robert Nourse
- Year Founded: 1957
- Headquarters: San Diego, California
- Cost: $2,250 initiation, around $1,380 monthly
6. The Brightly Immersive Mastermind
The Brightly Immersive Mastermind is a six-month program for females. Within three months of starting the program, participants fly to a three-day retreat, participate in biweekly 90-minute calls, and converse on a private Facebook page. It provides extensive support for female professionals, both online and at meetups.
It appears that professional women would benefit greatly from this curriculum, even though yours truly identifies as male. Women have less room, especially in tech, to express and let go of the particular constraints they face at work, from their families, and from society at large. There is a clear market demand that Brightly Immersive addresses, and perhaps more organizations will follow suit.
KEY INFORMATION
- Founder: Brianne Dosier
- Year Founded: 2018
- Headquarters: Portland, Oregon
- Cost: $3,500
7. Carlton Coaching’s Platinum Mastermind
Carlton Coaching’s ‘Platinum Mastermind Group’ is a quarterly boot camp. It is exclusive. In a small conference room, instructors John Carlton and Stan Dahl are joined by twelve carefully screened CEOs. Icons Joe Polish is a common guest speaker (explained later). Making a high-priority list of one to three action items for your company is your aim.
The program emphasizes pragmatism heavily. Carlton, a copywriting legend, probably values simplicity and directness. A group such as this could be just what your startup needs to break through if it’s stuck on an inexplicable plateau.
KEY INFORMATION
- Founders: John Carlton and Stan Dahl
- Headquarters: Phoenix, Arizona
- Cost: $15,000
8. Young President’s Organization (YPO)
The Young President’s Organization (YPO) is among the most striking examples of a mastermind group. The band was founded in 1950. It links 27,000 CEOs worldwide. Only invited guests may enter, and corporate requirements include having 50 full-time staff members and total remuneration exceeding $2 million. The atmosphere is meant to be businesslike.
Members meet face-to-face. Speakers like Steve Wozniak, Richard Branson, and heads of state frequently speak at events. Members don’t have a financial problem, but the $3,500 yearly charge is fair. Don’t let an invitation pass you by if one is extended.
KEY INFORMATION
- Founder: Ray Hickock
- Year Founded: 1950
- Headquarters: Irving, Texas
- Cost: $3,525/year
9. Indie Brand Builder
Indie Brand Builder is solely committed to providing entrepreneurs of consumer products with workable business expansion tactics. Participants in the Mastermind Program learn how to organize their sales processes, define their brand story, and create a productive organizational structure.
Weekly virtual meetings are held, with participants drawing from Jeremy’s background as a partner in the popular lifestyle bag brand SoYoung. Additionally, there is a weekly “office hours” session when members can seek assistance and ask about issues.
KEY INFORMATION
- Founder: Jeremy Robinson
- Year Founded: 2015
- Headquarters: Toronto, Canada
- Cost: $500/month
10. Mastermind alternatives
Mastermind groups on a variety of subjects and styles are hosted on numerous well-known and established platforms. These universally accessible platforms offer greater flexibility and affordability, while their quality and level of interaction may differ. You may either form your mastermind group and invite individuals who match your objectives and principles, or you can search for and join mastermind groups that fit your requirements and interests. Here are a few mastermind alternatives:
- Meetup: This is a website that assists you in locating and joining local communities of individuals with similar interests. You have the option to form your group and organize events, or you can look for mastermind groups by region, category, or keyword.
- Facebook Groups: This lets you start or join groups of people with similar interests or goals, either publicly or privately. You have two options for finding mastermind groups: either start your own and invite members, or look for groups by name, subject, or region.
- LinkedIn Groups: A feature that lets you form or join groups with professionals who are interested in similar fields, specializations, or areas of expertise. You have two options for finding mastermind groups: either start your own and invite others, or look for groups by geography, keyword, or category.
- Reddit Communities: This tool lets you start or join online communities with people who have similar interests, passions, or viewpoints. You have the option to make your subreddit and invite individuals, or you can look for mastermind groups by name, topic, or subreddit.
Cost: Usually free or low-cost, depending on the platform and the group.
Benefits:
- Locate and join mastermind groups that align with your objectives and tastes.
- Invite those who share your beliefs and vision to form your mastermind group.
- Get access to a range of subjects and styles for your mastermind group.
- Take advantage of greater cost and flexibility for your mastermind group.
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