Once you enter the world of freelance service providers, it’s easy to get swept away in all the offers that are supposed to help you grow your business… such as group coaching or a mastermind group. But do you really need to join one? And if so, which one? How do you know when it’s time?
I’m sharing what a mastermind is, what the benefits are, what a group coaching program is, and how to know if it’s time to join one.
What is a mastermind?
So, what IS a mastermind? First, let me say that originally, masterminds were better than most of them are now.
The original was like a hot seat with a large (around 150) audience of smart people (i.e., people who knew their product/trade/market). Everyone got a turn to be on the hot seat and present their idea, and then the audience peppered them with questions or advice about their idea. You could ask the group, “Here’s my problem. How do I solve it?” Each member of the mastermind group would get a ton of feedback during their meetings.
But now, it’s more a smaller group of learners getting together to learn from the “supreme being.” You’re not so much learning from each other as you are getting feedback from the leader. These masterminds might only meet once or twice a year instead of more frequently. BUT, you can still learn from each other, depending on the mastermind that you select.
Remember: masterminds should have an element of collaboration. They should be about group action and guidance. Everyone in the mastermind group should:
- get feedback from their peers
- learn together
- improve their copy (or whatever service) together
Benefits of a mastermind
- You’re surrounded by other smart people who at least understand what you’re trying to do, or have some foundation of understanding.
- Those smart people give you their ideas for how you can improve your business or address whatever the problem is that you’re trying to address.
- You get a ton of feedback, which can be really helpful. You can get very creative when you have a large pool of ideas to draw from.
What is group coaching?
Group coaching teaches a framework. Everything is oriented around the head coach. You do go through a group program with your cohort and interact with them, so you can ask each other questions and give each other tips.
But the program is less about the ideas you get from your peers and more about learning the specific way that the coach of the group is teaching you to do something.
Do YOU need group coaching or a mastermind?
If you’re a complete newb, you don’t need a mastermind. You need a solid, supportive peer group, some training, and maybe some group coaching. Get your skills to a higher level. Get a course, or an accountability buddy.
A group coaching program is for when you need a specific skill or result. If you’ve learned what you can from courses and peers, and you have a goal, like hitting your first $5,000 a month, then a group coaching program could get you to that specific outcome.
A mastermind is for when you would benefit from a more collaborative environment, and if your outcome is less measurable. Say it’s more like, “I want to grow my business,” or “I want to become a better copywriter.” A big part of a good copywriting mastermind is getting feedback from your peers, everyone learning together and improving their copy together, and sharing their revelations with each other.
Also, masterminds are expensive. Multiple thousands of dollars to six figures expensive. Once you reach a high level in your business (get it–”master”–you want to be a master of your craft), it could be worth it, but not when you’re starting out.
The caliber of people who join a mastermind tends to be very high. When you can get in a room full of very high caliber people, it will do good things for your business. It’s an investment. If you choose wisely, the returns will be tremendous.
Most of the work I do these days is from people I know or people I met through the mastermind I was in a few years ago. So my annual fee continues to pay for itself over and over, in addition to the skills I learn and the guidance I receive.
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