Here’s a tip: Start with a core group of three or four people. Get your guidelines in place and have a few meetings. This will help to solidify the group and work out any kinks.

Next, take a vote on whether it’s time to add more people. If yes, how many? Don’t add too many all at once. I’d rather see you add only one or two new people at a time. This will help them to assimilate into the group and for the group to become cohesive. As the Facilitator, you want to help people to fit in and feel welcome, and not allow cliques to form among the “old members” versus the “new members.” It’s all about inclusiveness.

Keep repeating the addition of new members until everyone agrees the group is full. If someone drops out of the group, take a vote to see if the group should replace that person or simply stay the smaller size.

Need help with how to select members for you group? Read my blog post How to Choose the Best Mastermind Group Members for ideas.

The first is to simply calculate the total number of hours you’ll spend each month working with the group (in meetings, on message boards, and with group administrative tasks), and charge the group for your time. For instance, in one mastermind group that I run, I spend about 5 hours a month. If my hourly fee is $200 per hour, the total I need to charge is $1,000.  If there are 10 members in the group, each member would pay $100 per month to get to the $1,000 a month I want to earn. (If there are six members in a group, then the monthly fee would be 1000/6 or 166.66 a month.) This is great for the members, as they get to work with you in a mastermind group at a reduced rate compared to the cost of working one-on-one with you.

The second is to charge a low monthly fee ($14 – $49 per person per month) and have larger groups.  My experience tells me that large mastermind groups are a poor investment on the part of the member. The beauty of a mastermind group is that everyone gets time to bring forward their personal challenges, decisions and situations. This can’t happen in a large group because you simply run out of time. What’s the point of a mastermind group unless all members get to give and receive in each meeting?

The third is to charge based on your value and the value of the group. There are some mastermind groups that charge $15,000 a year, and include one or two weekend events that are free as part of the fee, plus weekly phone meetings, special guests, discounts on the mastermind group facilitator’s products/classes, etc. If you have guru status and are an expert in your topic, you can charge more for your mastermind group. If you add more valuable features to the group (like live weekend events, free training classes), then you can increase the fee accordingly. And if someone is going to invest $15,000 a year and get $100,000 in additional revenue to their business, it’s worth the investment to them. Ask yourself: what would make it worth it to them?

Do a cost-benefit analysis, factoring in your time, expertise, and the value of the services and products you are offering.  Then choose a price that is best for what you’re offering the members.

When Offering a Free Mastermind Groups Works for You

Also consider charging NOTHING for your mastermind group.

Nothing??? Yes.

If you want to do a pilot group where you will ask for in-depth feedback, consider charging nothing for the first one, and limit the group size to four members. It takes a lot of pressure off you to do it perfectly, and members love the opportunity to be involved with the birth of a new group.

Also, if you are doing the group as a way to market your other services or products, a free group works wonders! The last time I did a free group, over 50 people signed up.

Should You Charge for Your Mastermind Group?

The short answer is Yes. Mastermind group facilitation is a skill and it takes a lot of work to run a successful group. Check out my blog post, Can I Charge For My Mastermind Group? It outlines the pros and cons to help you make the decision.

The success of your mastermind group hinges on YOU.

If you want your mastermind group to be a success, this class is for you. This class is for people who are ready to take their mastermind group facilitation skills to a whole new level.

Learn the expert mastermind group facilitator’s art of being the guide on the side, not the sage on the stage.

In this 9-week teleseminar series, you will learn about:

• Using the six Mastermind Process Techniques
• Your role and responsibilities as a mastermind group facilitator
• How group dynamics impact your group Group Facilitation skills for mastermind group facilitators
• Creating and using a Mastermind Group Facilitator’s Journal
• Creating a Mastermind Member Journal to use with your members
• Creating trust in your group Helping members make decisions and choose a course of action
• Enforcing group guidelines
• Handling problem members
• Tracking group member progress
• Creating and using Prep Forms, Mastermind Matrices and Group Evaluations
• Lifting energy levels and sparking creativity
• Closing your meetings
• Dissolving your mastermind group
• PLUS: Get live, hands-on practice with your mastermind facilitation skills!

This teleclass meets one hour each week, for 9 weeks, beginning on April 23.

(Yes, class will be recorded. If you miss a session, you’ll be able to download the audio and listen at your leisure.)

For full class details, visit:

http://www.TheSuccessAlliance.com/facilitator

FOUR Great Bonuses!

• Bonus #1: A 62-page student guide in PDF format, chock full of advice and checklists, plus forms and worksheets for you to use as a Facilitator and to give to your members.
• Bonus #2: Six streaming internet videos of a real mastermind group, so you can watch and learn from Karyn as she facilitates a mastermind group!
• Bonus #3: A great way to get new members for your mastermind group! Once you register for the teleclass, you may list your mastermind group for free at The Success Alliance website, which receive 16,000 visitors annually looking for mastermind groups. You will receive an email with instructions on how to list your mastermind group once you register.
• Bonus #4: You’ll get access to my private Student Website, where you’ll get more resources.

What Students Say…

Karyn’s Mastermind Group Facilitator Training was truly superb. She has the unusual ability to present rich detail which will be invaluable to me in leading Mastermind groups, while not overwhelming us, and keeping the big picture clear and focused. The most effective Teleseminar I have ever taken!

–Paul Severance Center for the New Elder

For full class details and to register, visit:

http://www.TheSuccessAlliance.com/facilitator

I’m looking forward to hearing from you in class! The class size is small so that you get a chance to practice your mastermind facilitator skills hands-on.

Warmly,

Karyn