Today I’m going to talk to a specific audience, the audience is those that have ever thought or imagined starting a coaching business. Maybe you have thought, I could really help other people. I’ve got things I’ve learned that I could share and stuff to give to others. If you have ever thought that… let’s answer this question: How Could I Launch a Mastermind?
I’ve been leading masterminds for five years and since starting I have led a thousand or more sessions. I can probably figure over 4,000 plus calls and coaching calls under my belt since starting. And you know Malcolm Gladwell, he has his 10,000 hour rule that it takes that long to master it before launching a coaching business. When I started I am/was pastoring as well. And so I have surpassed the 10,000 hours during the 20 years that I had been doing that. I have been coaching, leading, mentoring, discipling all along the way.
But launching a coaching business was something I had never done before… And then I did it and I was like, wow that was actually way easier than I thought. So I will tell you, I had a coach help me walk through the process. Now, I’ve probably lost half a dozen people to their own coaching businesses. It’s not my primary business model to teach others to launch their coaching businesses, you could say not exactly my bread and butter but I was just thinking about this on a recent call. I just started working with a few clients specifically to aid them in the launch of their own coaching businesses, and I was like you know what? I’m going to spread some of that greatness that is on the inside of me out into the world to help simplify the process. Because it’s easy, easier than you think because there are a lot of people out there just waiting because the whole process has been overcomplicated for them.
I’m going to give you four phases to launching your first mastermind business and coaching. If you’re one of those people who have wanted to and have not done it yet, let me tell you why you have overcomplicated the crap out of it and made it so much more complex than it needs to be. What I’m getting ready to share with you will be the simplified steps to get your mind focused on the major things to actually get you started and launched.
Here’s what I tell my clients when I’m working with them one-on-one and we’re launching the coaching business… 90 days and you can launch it. It doesn’t take longer than that. It doesn’t have to, unless you drag your feet. 90 days and you are going to return on your investment on coaching because you will be making money by serving other people and changing their lives.
But before we get started I want to tell you my definition of a mastermind. There are a lot of so-called masterminds out there, so I am going to tell you it is a small group of five to eight people meeting together consistently on a regular basis. If there’s a hundred people in a zoom call and no one knows your name, to me that’s not a real mastermind. Can you have a mastermind that meets up monthly or bi-weekly? Yeah, you can do that, but that’s not what I do. I create a weekly group that meets together for accountability, consistency, has a deep level of trust… that’s what I call a mastermind. And here are the phases to creating and leading them.
This is the longest phase you might be in and can last up to 30 days, give or take. In the Clarity Phase, you get clear on who you are going to serve and this includes deciding who your clients are going to be. You’re also going to create, what I’ve heard Brand Builder’s Group (a branding company I’ve had the pleasure of working with) calls the brand positioning statement, which is what is the problem you solve, the message you carry, the payoffs of working with you, the offer and so much more. And getting clarity on these things can take some time.
Then there is creating the call list, this is going to flip some of you out because at this point you might be saying, WAIT: I don’t have a website, I don’t have a logo… BUT before you get there you need to make a list of possible people you want to serve that might be your ideal clients so that you can tailor those things to attracting your ideal clients. So make a list of 50 people that fit your ideal client framework. It is easier than you think: look at your phone, social media and start sending people messages letting them know what you are getting ready to launch. Build that anticipation. And jump on calls with your friends/ideal clients and see if you can get referrals; people that think you’re awesome and they know the value you can bring – send them a message, take them out for lunch or a coffee and tell them what you are getting ready to do. Let them know they would be a good fit.
After that, create a discovery call script, an enrollment call script, whatever you call it… this is where you start calling people, but you need to know what you are going to say. Don’t over complicate that. I do have a process to create a great discovery call, but listen when I started I didn’t have a lick of sales experience and at this point in my life I’ve done hundreds of calls now. And you know what ? The primary thing is to connect with people, value people, be genuine and sincere with people and show them how much you care about them.
Can’t tell you how many people have gotten on a call with me and they tell me that they have never been listened to like that. I listen and speak into their lives and am genuine and sincere when I do that. By the time I get to telling them about the mastermind, they are like: I WANT IN. Why? Because they were known, seen, and valued. That’s what people want.
Don’t overcomplicate sales. Write out that discover call script, use your story because you are going to want to share and connect your own transformation. If you’re talking about a mastermind and you’re not in one… you better join one right now. There is importance to smoking what you are selling, if you know what I am saying. I’ve never smoked but I am in a mastermind and lead them. You have got to be a believer and have experienced the transformation.
And then, this one is big, BE INTENTIONAL ABOUT GROWING; becoming the best version of you. Develop your personal growth habits. You can’t get busy starting a business and then stop growing yourself. What would make you a great coach? The thing that will increase your ability to coach others more than anything is you growing consistently and becoming the best version of yourself. So read more books, go to more events and get around the right people. Join that mastermind group to get around the right people. Get the coaching, level up because if you are not intentional about it, you will run out of juice. You will run out of content, run out of value to bring to your clients, so instead amplify and GROW.
Figure out what you are going to name your company and don’t overthink it because you can change it as much as you want. Some of you are freaking out because you have been trying to figure out a name and you’ve already been golden forever. Trying to figure out names; Your name + coaching is a great starting point. BOOM. You have a name. You’re good.
Next step is to file an LLC because you need the LLC before you can set up a business bank account, BECAUSE YOU WANT PEOPLE TO PAY YOU!!
So now you have completed both clarity and preparation. Now you are ready for step two… just remember starting off you don’t need a landing page, you don’t need kajabi or infusionsoft. Don’t overcomplicate, just get the stuff done so that people can pay you.
Literally, set a couple of options for your launch date. This information, again, is based on my interpretation and version of a mastermind: a weekly call with a small group of people. When you are doing your first group, you have to feel out people and whether it is going to be a morning or evening meeting. You can say, Hey, I’m doing this call on this day at this time… are you in or out? But if you like to connect them with other people who are going to be a great fit, you might end up launching two groups initially. There are different kinds of people: morning/evening/daytime, business owners, people with more flexibility.
And you know what? To start making those masterminds, you’ve got to call people with your discovery call! What are you waiting for? Are you waiting til you get a website, business page, logo, or business cards? You don’t need any of that. I had three masterminds running, I was making six figures before I had any of that. Before I had a brand and a social media presence, I was launching masterminds. YOU CAN, TOO. Do not over-complicate it. Start making calls, plan on making calls in two or three weeks so that you are crushing it; enrolling people in a quick amount of time. I would advise signing up for a zoom account if you are going to use zoom.
Listen before you launch, you’re going to need to figure out what your call content is going to be. You wouldn’t be having the thought of starting a mastermind if you didn’t already have enough content on the inside of you, so outline your first four calls, not 52 weeks or six months… just your first four calls so that you can internalize that content and be ready. And your script doesn’t need to be longer than two or three pages because if it is longer than that, you’re going to talk too much. The power of a mastermind is what everyone in the group brings to the table. The magic is bringing the right people into the room and creating synergy and trust. THAT IS THE POWER OF A MASTERMIND.
Now on your first four calls; launch it with purpose. Follow up with the group members and start to build community and focus on serving people.
Keep making it better. Keep bringing more content. Keep refining and adjusting your strategy. Keep improving the flow of your calls. That is how simple it is to launch a mastermind.
I hope your big takeaway from this conversation was that you should stop over-complicating your dream because you have a calling and a destiny to serve people… there is someone on the inside of you that you need to give to the world. And maybe you could launch sooner rather than later. Stop talking about it and start doing it. Don’t hold back!!
I hope this served you. And this is where you should go out there and give your greatness to the world because somebody needs what’s on this inside of you! So go out there and give it away, go launch a mastermind! They need you, they are waiting on you! Love you all and have a great week!!!