Business mastermind groups have changed and developed since the time of Benjamine Franklin, the age of Napoleon Hill, to now. Specifically mastermind groups for business owners. Historically, these groups would form naturally based on location, industry, and simply local business groups. Now, mastermind groups come in all shapes and sizes, catering to specific fields, niches, and needs.
These types of business mastermind groups provide special chances for development, networking, and problem-solving. We’ll look at sixteen different kinds of business mastermind groups in this blog article; each one is designed to help and inspire business entrepreneurs. Some mastermind groups can fall under multiple types. Find what you are looking for in these different types of business owner mastermind groups.
Why Are There Different Types Of Mastermind Groups?
We mentioned above how masterminds were refined in the time of Napoleon Hill with his books and business entrepreneurial work in the 1920’s and 1930’s and since then, there have been many different forms of mastermind groups. Within business, we have seen an increase of specialization, which can also be seen in the mastermind groups that exist today.
Businesses and business owners are always trying to develop and improve their services and business mastermind groups have become a major service to business owners. “This is vital for a business owner’s growth, so let’s make the best business mastermind group there is” is the mindset of many business mastermind leaders.
Types Of Business Owner Mastermind Groups:
- Hybrid Mastermind Groups
- Traditional Mastermind Groups
- Niche Mastermind Groups
- Woo Mastermind Groups
- Celebrity Mastermind Groups
The Core 5 Types Of Business Owner Mastermind Groups
Below are the primary types of business mastermind groups for business owners. What you will find is all of the other subset groups will fall into one or multiple of these types of masterminds. Below we break down these 5 mastermind groups and provide examples of each. Learn about their pros and cons and how they can help you grow your business.
1. Hybrid Mastermind Groups For Business Owners
This is our favorite type of mastermind group because we have seen so much success come from having hybrid formats, types of business owners, and business sizes all involved in one mastermind group. The amount of ideas and inspiration that flows from the group is invigorating, and there is always more to learn.
2. Traditional Mastermind Groups For Business Owners
Traditional mastermind groups are simply a group of business owners who meet together to learn and grow together. The more traditional style of a mastermind group does not exist except for certain scenarios where they meet together at a local diner. The more traditional mastermind group can be seen at your local chamber. It is essentially a group that gets together to discuss business, but there isn’t a defined leader or direction.
3. Niche Mastermind Groups For Business Owners
Niche mastermind groups have the largest variety of subset groups. What is a Niche mastermind group? It is a mastermind group that focuses on a specific niche. Whether the niche is industry-based, male or female-based, focused on marketing, focused on scaling, focused on sales, or focused on family-run businesses. A niche mastermind group has a specific approach or angle that takes heightened focus for the group.
4. Woo (Wellness, Opportunity, & Wealth) Mastermind Groups For Business Owners
This is the Joel Olsteen of Business Mastermind Groups. While there may be discussions on marketing, scaling, and growth, the primary focus in on self. Woo mastermind groups provide a strong emphasis on living and working holistically. Anticipate conversations on having a balanced and meaningful life, personal development, and financial success.
5. Celebrity Mastermind Groups For Business Owners
Celebrity mastermind groups are essentially one of the above types of mastermind groups, the only difference is they have more interest or intrigue due to the celebrity business owner who is involved. These types of mastermind groups were primarily inspired by shows like Shark Tank, Undercover Billionaire, and The Apprentice. Essentially the celebrity factor is brought into business mastermind groups, and there is more of a focus on money management and stocks. These business groups are largely guided by the celebrity that is part of the group.
Subsets Of The 5 Core Mastermind Groups
We mentioned that there is a variety of offshoots, subsets, or variants of the core 5 business mastermind groups. What are they? The following are common subsets of the above mastermind groups for business owners. You can find a variety based on specific niches and businesses:
- Startup Mastermind Group
- Small Business Mastermind Group
- Medium Sized Business Mastermind Group
- Large Business Mastermind Group
- Industry-Based Mastermind Group
- Franchise Owner Mastermind Group
- Real Estate Investor Mastermind Group
- HVAC Mastermind Group
- Your Industry Mastermind Group (You can probably find one for your industry, it is a quick Google search away)
- Family Business Mastermind Group
- Online Mastermind Groups
Join Our Mastermind Group
Many mastermind groups have a large group and a variety of subgroups. For instance, at Business Builder Camp, we have a variety of men’s and women’s mastermind groups that are hybrid mastermind groups. They meet online and in person, and the groups also intermix and mingle on different subject matter mastermind groups.
Essentially, what we have is a core group, and then the larger group, which can morph between a variety of niches and focuses. Within our groups, we also have industry focuses, as well as a range of locations in places like Pennsylvania, Maine, Texas, and Ohio. We have found developing our mastermind group with structure and fluidity has resulted in the best of both worlds, allowing our Business Builders to grow and flourish.