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If you own a business, you have probably heard the word mastermind group before. Whether you heard it at a networking event or local chamber meeting is beside the point. You have questions about business masterminds, and we have answers.

What Is A Business Mastermind Group?

A mastermind group for business owners is a group of business owners who come together regularly to share about their business with the clear purpose of gaining insight, ideas, education, inspiration, support, and, most of all, accountability from your peers within the group. Influential business mastermind groups have each member set goals that the rest of the group holds them accountable for achieving.

What Isn’t A Mastermind Group

The word mastermind group gets thrown around a little too much as a buzzword to attract attention. That is why we think it best to clarify what a mastermind group isn’t. A mastermind group is not:

  • A Networking Group: Networking groups share leads and resources as well as meeting new people, but there isn’t a focus or purpose of accountability, sharing insight, or developing ideas.
  • A Workshop or Class: While you learn at a mastermind group, a structured class is not a mastermind group. Many people within influencer marketing try to say their class is a mastermind group while it is simply an online course where you can communicate with others who purchased the course.
  • A Group Coaching Session: While the moderator should operate as a group coach within the confines of the mastermind group, that is not the soul purpose of the mastermind group.
  • A Group Of Work Buddies: While a mastermind can develop from past coworkers, just hanging out to catch up without any clear purpose is not a mastermind group.

How To Find The Perfect Mastermind Group?

How do you join a mastermind group? If you are new to business masterminds, it can be intimidating trying to join a group you have never met. Most business owners join mastermind groups because of other people recommending them. Others seek them out for the benefits and simply out of need.

There are so many different mastermind groups you can be part of. We have compiled the top 10 mastermind groups that we have either experienced or know are quality experiences for business owners wanting to grow and improve.

What Types Of Mastermind Groups Are There?

We have narrowed it down to 5 types of mastermind groups. There are many variations but the 5 core types of mastermind groups are:

  • Hybrid Mastermind Groups
  • Traditional Mastermind Groups
  • Niche Mastermind Groups
  • Woo Mastermind Groups
  • Celebrity Mastermind Groups

There are many subtypes of mastermind groups, like online mastermind groups or franchise business mastermind groups, but all of these fall under 5 core types.

How Much Should A Mastermind Group Cost?

The cost of a business mastermind group varies widely. The cost often reflects the benefit, but not always. Understanding the mastermind and the cost is essential to start your journey as part of a business group.

What Mastermind Group Should You Join?

Business Builder Camp, of course! No, we would like you to join and grow with us if you are a good fit. That is what you should be looking for in a mastermind group. An effective group of business owners who push you and your business to greater heights, hold you accountable and drive your personal growth.