Typically, with masterminds for business owners, there isn’t a set price. Some mastermind groups are free, while others can be thousands of dollars each year. The price difference typically reflects the quality of the mastermind group, but not always.
Below we have a breakdown of price expectations as well as quality of the mastermind group. If you were to Google the price of a car, there would be a range. Some mastermind groups are equal to the value of a small Hot Wheels or Matchbox car, others are worth the price of a brand new Lamborghini.
Mastermind Group: You Get What You Pay For
The saying “you get what you pay for” is typically applicable in the business world, and mastermind groups are no exception. Although joining a corporate mastermind group might be very expensive, it can be an excellent tool for both professional and personal development. The secret to selecting the best mastermind group for your requirements is realizing that prices actually vary depending on a number of variables.
Knowing What You Want From A Business Mastermind
Before you look at the price and value comparisons of mastermind groups, it is important to know what you want from a mastermind group. Are you looking for networking? Join a free group. Are you looking for business insight, knowledge, growth, and mentorship? Join a paid group. Looking for friendship? Maybe start your own business mastermind. Looking for all of the above, now that is something special that is hard to find, but we like to believe we have it among the Business Builders.
Sit down and honestly reflect on what you want out of a mastermind group for business owners. After you write down a few notes, learn about the below price options for mastermind groups and see which one fits your needs.
Factors That Determine A Mastermind Group’s Cost
A business mastermind group’s cost is determined by a number of factors:
- Facilitator or Leader: The cost of the group can be greatly influenced by the standing and experience of the facilitator or leader. Teams headed by celebrities or well-known professionals are typically more costly.
- Meeting Frequency: These factors may have an impact on the price. Monthly or quarterly meetings may be less expensive than weekly or more frequent ones.
- Mastermind Group Size: Intimate, smaller groups are sometimes more expensive. Bigger gatherings could be less expensive, but they might also present less chances for deep conversation.
- Additional Resources: Some mastermind groups provide extra services like coaching, seminars, or workshops, which raises the entire fee, but also increases the value of what you are purchasing.
Mastermind Group Pricing
In terms of price, here’s a breakdown of each option:
- Free Mastermind Groups: These are usually free of charge besides purchasing breakfast or your meal at the diner they meet at.
- Celebrity Mastermind Groups: Can cost anything from a few thousand to tens of thousands of dollars annually.
- Diamond in the Rough Mastermind Groups: Costs for these mastermind groups vary widely, just like the celebrity mastermind groups, but there is much higher quality derived from these groups.
- Creating Your Own Mastermind Organization: While it is free in theory, it takes a lot of work and time to create a mastermind group. And many times, the benefits of a mastermind group takes years to develop.
Weighing the costs and advantages of a mastermind group is crucial when evaluating their pricing. Make a decision that fits your unique objectives and available resources. Making an informed choice based on your needs is essential if you want to get the most out of the mastermind group for your business.
1. Free Mastermind Group Pricing
Obviously, a free mastermind group is free, but with such a low investment expectation, typically the value is extremely low. The “free” mastermind groups are at the bottom end of the range. These organizations might not have a membership cost, but it’s important to keep in mind that good things are not always inexpensive. Typically you will pay for a free mastermind group with a lot of wasted time without the benefits these groups are actually developed for.
Free mastermind groups are often available to everybody and might not have the structure and dedication required for a worthwhile experience. The advantages are frequently just passable despite the low cost. It’s possible that the participants are less engaged and that the discussions are less fruitful.
2. Price Of Celebrity Mastermind Groups
Celebrity Mastermind groups can be an excellent experience, but they can also be overpriced due to the celebrity status of the group. The prestige of belonging to such an elite circle is what makes these clubs appealing; they are frequently linked to famous business owners or influential people in the sector. Even while these organizations might be pricey, the value they offer isn’t always worth the money. Rather than the caliber of the group interactions, a large portion of what you pay for is the affiliation with the well-known leader.
3. Pricing For An Excellent Mastermind Group
There are mastermind groups that we like to think are better than others. These mastermind groups are for those who are prepared to invest in their own development and are looking for value and quality. When it comes to business mastermind groups, these are the “diamond in the rough”. They may be more expensive, but what makes them unique is the discussions’ quality and level as well as the participation of each member who is invested not only in their own growth but yours as well.
Every member of these groups is committed to their own and each other’s success, fostering a dynamic atmosphere for development. Although some organizations could demand a substantial time or financial investment, the benefits they offer are unmatched.
These mastermind groups do not happen accidentally, they are forged with purpose. We know because Business Builder’s Mastermind Group is one of the high-caliber, high-quality groups. We also know because we have participated not only in this group but many others where we grow with our business owner peers.
4. Start Your Own Mastermind Group
Forming your own mastermind group is a good alternative if you’re on a tight budget but don’t want to sacrifice quality. Though it costs you time and effort, it is technically free. Organization, leadership, and the capacity to conduct thought-provoking conversations are necessary for managing a mastermind group successfully. It might be difficult to form a group that thrives if you have no prior expertise or understanding in this field. The other side benefit to starting a mastermind group is you will have to learn these skills.
High Quality Mastermind Groups Typically Have An Approval Process
A large amount of the value of mastermind groups can be found in the people and participants. In our opinion, many of the high-value business masterminds vet or filter who can join. There is typically a referral or interview process for people to join a mastermind group. Typically these mastermind group leaders are looking for teachability, humility, and some expertise or knowledge you possess and can bring to the table.
Mastermind Groups We Recommend
While we believe Business Builder Camp should be your first choice when it comes to a high-quality mastermind group, below we listed a variety of mastermind groups we recommend because of our first hand experience with them or through what we have seen them do as a mastermind group. It is important to note these mastermind groups change regularly, so it is best to check their website for the most recent and up-to-date pricing.
- 48 Days Eagles Community: This is the mastermind group that is formed from the Eagleprenuers, a group that is run by Dan Miller.
- Iron Sharpens Iron: This mastermind group is formed through the organization View from the Top, a coaching and mastermind group-focused organization.
- C12: A Christian group of business owners that want to build a great business for a greater purpose.
- Business Builder Camp: Of course we would recommend our own mastermind group. We know it is amazing, and what we do here is focus on building together a community of business owners who don’t want just a successful business but a successful life.
- Genius Network: An exclusive group of high-level entrepreneurs.
- Order Of Man: A brotherhood of men seeking to be better fathers, husbands, business owners, and community leaders.
- Gobundance: This member-led mastermind group has a powerful group of millionaires and business owners.
- Front Row Dads: Focused on fathers who are business owners and want to win at home as fathers and husbands.
Pricing For Popular Mastermind Groups
Below is the pricing for popular mastermind groups. These prices change regularly, so be sure to check their website for updated pricing. It is also vital to note, many of these large and popular mastermind groups have tiers. The first tier is more like buying a package of classes or trainings. The second tier appears to introduce people and actual mastermind interactions with random groups of people placed together. The third tier is the most expensive and higher value. While you can definitely learn or grow from one of these mastermind groups, we probably would not recommend these because they are very commercialized and streamlined.
- Tony Robbins Inner Circle: Price: $97/Month or $990/year. This is more of a program purchase than a mastermind group.
- Entrepreneurs’ Organization (EO): Price: Membership fees vary by chapter and the size of the business but typically range from $2,000 to $7,500 per year. Forbes Indicates initiation costs $2,500 and then it is $2,400/year.
- Vistage: Price: Membership fees range from approximately $10,000 to $20,000 per year, depending on the size of your business.
- YPO (Young Presidents’ Organization): Price: Membership fees often exceed $10,000 per year.
- Maverick1000:Price: Membership fees range from $5,000 to $10,000 per year.
- War Room Mastermind: Price: Membership fees vary but can range from $20,000 to $50,000 per year.
- Genius Network: Price: Membership fees range from $25,000 to $100,000 per year.
- Tiger 21: Price: Membership fees are around $30,000 to $35,000 per year.
- The Strategic Coach: Price: The program has different levels, and annual fees typically range from $12,000 to $60,000.
- Mastermind.com: Price: Membership fees vary by program, and costs can range from a few thousand dollars to tens of thousands per year.
- The Iron Council (by Order of Man): Price: Membership fees typically range from $97 to $297 per month.
Business Builder Camp:
Join A Mastermind Group
A business mastermind group’s cost varies depending on the needs of the group. A few variables that affect the cost include quality, celebrity affiliation, and level of personal dedication. Finding a group that contributes to your professional growth is the ultimate aim, regardless of whether you go for a free one, pay for a premium one, or start your own. Make an informed choice, keeping in mind that the correct mastermind group may be an invaluable investment in your company’s success.