There are a lot of benefits to having your own MLM Mastermind Group. And there is a lot of money to be made in the process. For the purpose of this post, I want to share some helpful tips on how to create a profitable MLM Mastermind Group of your own. Let’s get started.
1. Over Deliver: Your first key to success is to always over deliver. That means you need to provide first class training, which keeps members coming back for more. You need good quality content that helps people and provides a real value. Always under-promise and over-deliver.
2. Charge a High Price: If you really want to make money with a Mastermind team of your own, you need to charge a high price. It’s much easier to sell 10 memberships at $500 each than it is to sell 100 memberships at $50 each. In both examples, you would make the same amount of money. Don’t sell yourself short. And never forget about perceived value. If you under-price your services people won’t take you as seriously.
3. Keep in Touch Often: In addition to the monthly or weekly calls, you want to keep in touch with your group often. That means you should send out a newsletter, frequent emails and even call members from time-to-time to check in with them. This makes them feel appreciated, which will help improve retention.
4. Advertising and Marketing: This is the most important step in the process when it comes to creating a profitable MLM Mastermind Group of your own. You need to learn effective advertising and marketing so you can effectively promote your Mastermind Team. You always want new members joining your team to replace people that drop out and to keep a positive cash flow. Some people will learn about your group from word of mouth, but most of your new recruits will come from your marketing and advertising efforts. You must be willing to spend the time and money to promote your group.
5. Meet Frequently: I think it’s wise to host a daily or weekly call, if at all possible. Even if some of your members can’t make every call, that’s okay. You simply want to provide them several options so they can meet with you often (if they want to). I also recommend you record your meetings and calls and have those available on your website, for your paying Mastermind Members.
6. Create Multiple Streams of Income: In addition to your membership fee, you can also record the events and sell them to members and non-members. You can also create information products, host seminars, paid webinars and do one-on-one coaching. These additional revenue streams will put more money in your pocket and help you build a more profitable business.
In summary, these are some of my best tips to create a profitable MLM Mastermind Group. I think it’s a wise idea to start your own Mastermind Group. Whether you are already successful network marketer, or an up and comer, this is a great way to create a new income stream for your business and to meet new prospects for your business opportunity. If you do things right, and follow the advice mentioned above, I’m pretty sure you could make more money with a MLM Mastermind Business than you could with your network marketing business.
What are your thoughts? What are your best tips to create a profitable MLM Mastermind Group? Leave a comment and let us know.