Welcome
Hi, I’m Marisa Murgatroyd. Founder of Live Your Message.
If you’re like most entrepreneurs I know, you’re afraid of the spotlight. But what if I told you there’s a way to feel excited about being the face and voice of your business?
Prologue
"My very first mastermind experience was a bit of a disaster."
It felt like I’d flushed the $25,000 enrollment fee down the toilet and of course, there was nothing I could do about it.
If you’re wondering how I got myself into that mess, it was kind of random.
Back in my previous life as a photographer and filmmaker, a friend introduced me to an online entrepreneur who was running a year-long mastermind program.
The guy hired me to photograph his live event a few times and I remember being totally fascinated with what he did.
Back in 2009, I didn’t know anyone who had a “business on the internet” and the whole thing felt like an underground movement -- a secret world -- that I didn’t even know existed.
But here was this guy who had figured out exactly how to start and grow a super successful, super profitable online business and more than that…
It seemed like he was an expert at helping others do it too.
So, it got me thinking…
“Hey, maybe I could do this too?!”
I realized I’d never find out if I sat around thinking about it so I emptied my savings account, took the leap and joined his program…
And I fell flat on my face.
Turns out the guy was really good at making a whole bunch of promises but not so good at delivering on them.
And I wasn’t surprised when he ended up shutting down his business and switching to a completely different industry a year or two later.
I can see now that he didn’t love what he was doing -- he didn’t love coaching and mentoring -- his heart wasn’t in it. Plus, he had a lot of personal stuff going on so his mind wasn’t 100% on the mastermind either.
At the time, I was so mad at him for overpromising and under delivering. But looking back now, I can honestly say I’m grateful for the experience.
It was my first entry point into the online business world and it put me on the path that led to where I am today.
Live Your Message is now a thriving mid-7-figure business. I’m my own boss and I get to choose the way I work and live and play.
It’s a happy ending but make no mistake… those first 12 months were rough!
I felt lost, confused and overwhelmed most of the time and I remember thinking to myself, “Never again!”
But I couldn’t have been more wrong.
That was my first mastermind experience but it was definitely not my last.
I believe in consistent growth and evolution, so I make it a point to sign up for at least two mastermind programs every year -- one to support me in my business and one to support my personal development.
I’ve now invested in 8 different year-long programs, some for just a single year and others I’ve returned to year after year. And I’ve run 5 different year-long programs of my own until I cracked the code on how to help my students get results over a longer period of time…
So you could say that when it comes to masterminds, I’ve been around the block and back.
And right now, I’m at the stage where I can tell a stellar mastermind from a stinker a mile away… and my goal is to help you do the same :-)
Through the rest of this Ultimate Guide, I’m sharing insider insights and knowledge so you can identify the right mastermind program for you…
A program that will take you to the next level and beyond in your business…
A program where you’ll get so much more than you give.
So go ahead and make yourself comfortable, grab your favorite drink and let’s get started.
Chapter One
Introduction
Masterminds have been around for a long time.
Business icons, world leaders and successful people through the ages, and across all industries have relied on the community and collaborative power of a mastermind group.
The original concept of a business mastermind can be traced back to the 1930s when author Napoleon Hill described it in his classic book Think and Grow Rich…
“The coordination of knowledge and effort of two or more people, who work toward a definite purpose, in the spirit of harmony. No two minds ever come together without thereby creating a third, invisible intangible force, which may be likened to a third mind [the master mind].”
And if your eyes glazed over with that old-school definition, here’s my personal updated version…
A group of entrepreneurs who are in a similar phase in their business, coming together to brainstorm ideas, come up with solutions, offer support and build valuable relationships and connections so each individual in the group gets to achieve their goals and accelerate growth in their business.
In an ideal world, all masterminds would fit that description but as you know…
This isn’t an ideal world.
Many of the year-long business mastermind programs I’ve seen out there can cost anywhere from $10,000 to $50,000 and beyond and the sad truth is that a lot of them don’t deliver.
I’ve seen way too many entrepreneurs go into deep debt just so they can join a premium mastermind program.
They tell themselves the Return on Investment -- audience growth, skyrocketing sales numbers, invites to high paying speaking gigs or whatever it happens to be -- will more than make up for the investment but then nothing happens.
At this point it’s good to keep in mind that no matter how good it is, no mastermind program can create success for you.
As Jim Rohn famously said, "You can't hire someone to do your push-ups for you."
No mastermind can replace the hard work it takes to become a successful business owner.
So, while finding and investing the right mastermind is critical for all entrepreneurs who are serious about their business, only you can make your success!
That said, I can't tell you how many people join our year-long Mentorship programs at Live Your Message after they’ve been burned by mastermind programs that promised the moon and the stars but did nothing for their business.
I don’t want that to be you and that’s why I wrote this Guide.
Think of this as a power-packed distillation of everything I learned from years of being part of sizzling hot programs that helped take my business to the mid-7-figure mark and the ones that totally tanked and left a bad taste in my mouth…
Not to mention my own experience delivering year-long group coaching programs every year since 2013. In that time, I’ve learned what it takes to support my students’ success and iterate my way to awesome as a coach, mentor and facilitator.
As you read through the rest of this Guide you’ll learn:
- Exactly what a business mastermind is (and what it isn’t)
- How to tell if you’re ready for a business mastermind
- The 7 elements to look for in a mastermind
When you’re done, you’ll have a clear idea on whether you’re ready to join a business mastermind program, what a great program can do for you…
And how to pick one that works best for you and your business and avoid the ones that will waste your time and money!
So, hang tight… this is going to be an eye-opening ride :-)
Chapter Two
The Truth About Business Masterminds
Before you invest in a mastermind program that promises to change your business and your life, I’d like to invite you to reflect on this question…
What is a business mastermind?
So many entrepreneurs are quick to drop tens of thousands of dollars on a mastermind, but they have no idea how to answer that question!
In this chapter, we’re diving deep into the fundamentals so you’ll have a crystal clear idea about what a business mastermind is, what it’s not and most important… how to tell if you’re ready to invest your money, energy and time in one.
Let’s start at the top…
What a Business Mastermind Is…
Business masterminds fall into 2 overarching categories -- free and paid.
Free groups usually have members who already know each other.
These are people who meet online, at live retreats or networking events and think, “Hey, we’re entrepreneurs and we get on like a house on fire… let’s start a mastermind group!”
Here’s the thing about free groups… they rarely last. Sooner or later they fade into nothing and it’s because members don’t have skin in the game.
When there’s zero financial investment, there’s very little reason for people to make time in their busy schedules, and to show up at meetings and give it their all…
At least that’s what happens with a lot of well-meaning entrepreneurs.
So, if you want to be part of a true mastermind -- the kind that can elevate and uplevel your business and your skills as an entrepreneur -- forget about joining a free group.
You want to look for a mastermind that includes:
- A group facilitator who’s an established guru, expert or industry leader
- A price tag
Keep in mind that other features such as group size and the length of the program can vary wildly.
Some mastermind programs allow just a handful of members into the group, while others welcome 30-50 people or even more.
Most paid programs are designed to last a year but that’s not a hard and fast rule. Some run for 9 or 10 months and others go on for just 6 months
As of this writing, I’m part of an invite-only, multi-year mastermind program with just 50 people and it’s run by industry leader and all ‘round nice guy, Jeff Walker. Many people have been in the group since it first started in 2011.
Entry into this group comes with an eyebrow-raising price tag… and it’s also one of the best investments I’ve ever made!
And speaking of price…
On the lower end of the price spectrum we have year-long mastermind programs that can start at around $8k and go up to about $20k.
For a higher-end experience expect the price point to hit $30k to $50k. Super premium business masterminds can go up to $100k a year… or even more.
I know those numbers might seem crazy high but here’s what you need to know…
A mastermind program that’s right for you and is worth much more than the hefty price tag.
The right mastermind can help you create unstoppable momentum, growth and success in your business and that’s definitely worth investing in!
What a Business Mastermind is Not…
So many entrepreneurs tell themselves they want in on a mastermind program because they’re ready to grow their business, but the real reason they sign up?
Loneliness.
They’re tired of feeling like they’re doing it all on their own and they want companionship, comfort and camaraderie.
I get it… running an online business can often feel lonely.
It can create intense feelings of isolation that most people find challenging -- sometimes even impossible -- to deal with.
But I’m a straight shooter and I’m not going to couch this…
If you’re in a mastermind program because you’re secretly craving that “we’re all in this together” feeling, then guess what? That’s not reason enough to join.
A business mastermind is so much more than a social platform and while it can help you feel a little less lonely when you’re a part of one (and a lot of mastermind buddies do end up becoming lifelong friends)...
You need to be motivated by other reasons like wanting a great Return on Investment or ROI and being committed to taking action on what you learn so you can see real world results in your business.
I’ve found that if you want to get the most out of your mastermind experience, you need to look at it as an implementation program…
And if you’re the kind of person who needs your feet to the fire to be truly productive, then it helps to use it as an accountability program as well :-)
A business mastermind is also not just a group coaching or training program.
I know a lot of entrepreneurs get confused about this so here’s a handy chart to help you differentiate between a year-long group coaching or training program and business mastermind:
Business Mastermind Vs Group Coaching/Training Program
12-Month Business Mastermind
12-Month Group Coaching or
Training Program
Who It’s For
Entrepreneurs who’ve hit at least $250K in their business (see next section for details).
Who It’s For
Entrepreneurs below the $250K mark.
Key Reason to Join
You want to scale your business in a BIG way.
Key Reason to Join
You want to start or grow your business.
What to Expect
High level coaching and collaboration plus lucrative partnerships with other multiple 6 and 7-figure business owners in the program.
What to Expect
Step-by-step guidance from the facilitator and team members plus connection and community with other new or intermediate business owners.
What to Look For
In depth peer support and 1:1 guidance from the facilitator and top industry experts.
What to Look For
Structure and organized teaching and classes.
*Note: We’ll dive deeper into each of these aspects later in this Guide
Most business mastermind cover include coaching and training but you need to be an active participant.
If you show up for calls or meetings, then sit back and wait for your group leader or facilitator to “teach” you how to run your business, I can pretty much guarantee you’re NOT going to get the most out of your mastermind experience.
A great mastermind is built on the power of community and it’s all about connection and commitment.
It’s about every, single member -- and the facilitator -- sharing helpful ideas, insights and information with the whole group…
And it’s about taking action on those ideas, insights and information to create momentum and move toward your business milestones and goals (we’ll go deeper into this concept in Chapter 3).
Are You There Yet?
So, how can you tell if you’re ready for a mastermind program?
Here’s my no-holds-barred opinion…
If you want to squeeze every last drop of goodness from a paid mastermind group, consider signing up when you’ve hit 7-figures -- or at least the $250-500K level -- in your business.
I get that this is a radical statement to make. I’ll explain why what I mean but first, don’t worry if you’re not there yet (I have other options for people who are just getting started, trying to crack the 6-figure level, or trying to build up to $250K -- keep reading to discover what I recommend instead!)
The best mastermind programs I’m in right now include 7, 8 and even 9-figure entrepreneurs and the energy, the ideas, the resources and the connections in there are beyond anything I could have imagined.
And I know for sure that if I’d been allowed to join this group when I was at the 5 or low 6-figure mark, I would not have given -- or received -- as much value from it as I do now.
The reason I don’t recommend the mastermind format with early-stage entrepreneurs is that it can often feel like the blind leading the blind and, in business, it’s important to understand that there are proven strategies that work.
So, rather than the peer-supported mastermind format, it’s more beneficial at this stage to join a structured program that includes a combination of private coaching, group coaching and the training you need to know what to do next -- and actually do it (see Element #2 in Chapter 3 for more on this).
Now, business revenue is just one thing to consider before you sign up for a mastermind.
You also need to be serious -- and I mean really, really serious -- about your building a successful business.
So the first question to ask yourself…
Is my business my main source of income?
If you’re at a 9-to-5 job and your business is your side hustle or if you’re at the stage where you’re playing with the idea of starting an online business, do yourself a huge favour and don’t sign up for a mastermind program… at least not just yet.
Consider a group coaching and training program that will give you the tools you need to turn your business into your main source of income.
Here’s the thing…
If you want a business mastermind to work for you…
You need to be ready to do the work and you need to be able to implement right away.
In other words, you need to take action on those game-changing ideas you get from the group and you need to be fully devoted to your own success and to the success of every other member.
Being part of the best mastermind program in the world means absolutely nothing if you’re not ready to take action.
So, here’s the big takeaway…
Before you commit to a mastermind program for your business, make sure you’re ready to sink a good chunk of your time, energy and attention into getting the most out your experience…
And make sure you’re FULLY committed to creating results in your business :-)
Chapter Three
Key Elements To Look For in a Powerful, Year-Long Business Mastermind… or Group Coaching & Training Programs
So, we’ve arrived at the final question and it’s a BIG one…
In this chapter, I’m pulling back the curtain on what to look for in a mastermind program before you sign on the dotted line.
I’ve curated a list of the key elements (these elements also work for group coaching and training programs) based on my personal insights and based on the experiences of my clients and students.
Keep in mind…
Not all great masterminds demonstrate all of these elements but this list will definitely help you identify the difference between a mastermind program that can meet and possibly exceed expectations…
And one that will leave you unhappy, frustrated and afraid to open your credit card statement each month!
Element #1 Community
As I mentioned in Chapter 2, a powerful mastermind program is one that’s built on the strength of community…
It’s built on collective contribution and this means every member is committed to the success of every other member in the group.
The truth is a mastermind group is only as strong as its weakest member.
And if you’re surrounded by people who are takers and not givers, people who operate from a scarcity mindset and who are afraid to share and collaborate, people who are passive aggressive or envious of everyone else’s success…
Then I’ll say head for the hills… pronto!
While it’s not always possible to know who’s in your mastermind program before you join, it doesn’t hurt to ask.
Most group leaders are happy to share as long as you keep it confidential and if you do get your hands on this information, don’t be afraid to do some preliminary research.
Ask yourself, “Are these people my people?” Your answer needs to be a big fat YES.
Another great way to get a feel for who’s going to be in the mastermind is to go to a live event hosted by the facilitator. Take a look at other participants at the event because birds of a feather tend to flock together and the facilitator is likely to attract people with similar values.
You could also simply check-in with yourself and see how you feel about the facilitator. Do you resonate with them and their values?
Something else to look out for…
It’s a bad sign if a mastermind or group coaching program is open to entrepreneurs at very different levels or stages in their business.
Advanced business owners face unique challenges and need a totally different support system than those who are just starting out.
That’s why we offer 2 separate group coaching and training programs at Live Your Message: Blue Sky Mentorship for newbies and emerging entrepreneurs making $0-2,500/month and Next Level Mentorship for business owners making at least $2,500/month (if not a whole lot more).
We have coaching pods within Next Level Mentorship so we can put students together who are working on making it to 6-figures and have a separate sub-group for participants who have already crossed the 6-figure mark and are looking to leverage and scale.
So, if the mastermind or group coaching program you’re considering is open to 7 or 8-figure entrepreneurs along with newbies, I have 3 words for you…
Don’t sign up!
Element #2 Structured Vs Unstructured
If you’re an absolute newbie in business, I recommend that you look for a private coach or a group coaching and training program where you can take time to learn the basics like discovering your zone of genius, setting up an email provider, creating your first lead magnet and building an email list.
If you’re not a total newbie but you haven't crossed the 6-figure mark yet, it's important to work on intermediate business-building blocks like sales and marketing techniques and creating robust fulfillment systems.
When you’re generating something like $250-500K/year, you’re ready for a mastermind program that’s structured and focused on scaling your business.
And if you’re even more advanced -- making close to 7-figures or more -- it’s all about finding the right community (see Element #1).
At higher income levels, structure becomes less important because a lot of the time you just need a single tweak or switch in your business strategy and it can bring in a whole bunch of new subscribers or make you lots of money or whatever your goal happens to be.
Element #3 Track Record
So, this is a super important element that a lot of people ignore…
What’s the track record of the facilitator running the mastermind or group coaching program?
Do they have a solid history of delivering on their promises? Are they recognized as an industry leader?
Do your homework and check out their success stories. You can also study the testimonials on their website or sales page but don’t stop there.
Think about talking to their past clients but keep in mind that everyone has their own personal experience and there’s always two sides to a story.
No matter how great the program, there will always be people who are dissatisfied… people who chose the wrong program for them or who aren’t taking responsibility for their experience and their success. So take what you hear with a grain of salt. :)
Something else to consider..
Is the facilitator someone who walks their talk?
For instance, if they’re going to show you how to run a successful membership site, ask yourself…
Is a kicka$$ membership site part of this person’s business model? Have they already achieved what they’re teaching?
If the answer is no, it’s a huge warning sign that you’re dealing with someone who’s all about the talk and not about the action.
You want to look for someone who has both done this in their own business and helped others to do it.
Another thing to be careful of is that some experts are not good teachers, facilitators, coaches or mentors.
The world is full of people who know how to do something themselves but don’t know how to help someone else do what they’ve done.
A good way to figure out an expert’s facilitating skills is to take a low-ticket program from them first and see what you learn from it.
Element #4 Opportunities
You know you’re in an awesome mastermind program when you can barely keep track of all the opportunities that come your way.
These could be opportunities to expand your network, opportunities to partner with other members to reach more people and grow your list…
Opportunities to get connected to game-changing resources and top service providers like copywriters and designers and a whole lot more.
A great mastermind consists of people who care about your success as much as their own and they’re more than happy to share names, resources and anything else you might need to get to your goals.
But remember: You need to give as good as you get!
These opportunities are only for people who show with generosity and enthusiasm.
So make sure you help and support others in your group in whatever way you can. When it comes to business masterminds, you’ll get a lot farther, faster when you’re a go giver rather than a go getter!
Element #5 In-Depth Application
Make sure there’s a robust application process in place especially if you’re signing up for a high-end or premium business mastermind. (Note: this element is not as relevant if you’re signing up for a group coaching or training program.)
The application process might include an in-depth form and/or a 1:1 interview with team members and supporting coaches.
Some people find this sort of intensive application process tedious and annoying but it’s a good thing for 2 reasons:
Reason 1
A detailed application process shows you the facilitator and their team are committed to getting to know potential mastermind members -- they’re not just out to fill available spots with anyone who can fork out the cash.
Reason 2
The 1:1 interview is a great opportunity to ask questions and share any concerns you might have about the program.
And if you’re not sure what to ask at the interview…
Here’s a list of great questions you can ask team members to gain deeper insight and clarity during an application interview:
- What’s your “why” -- your deeper motivation -- for running this mastermind?
- How many times have you run this program?
- What are some of the highlights I can look forward to?
- What are some pointers I can use to maximize my time in the group?
- Who else is in this mastermind?
Element #6 Accountability
A powerful mastermind or group coaching program is fueled by great ideas but it’s focused on consistent action. That’s where accountability comes in.
In smaller programs with fewer people, the facilitator often initiates, implements and tracks accountability. But in bigger groups accountability is maintained through something I like to call the breakout pod.
This is where people break out into smaller groups (we usually have about 10 to 20 people per group in our programs) so each member can help others stay accountable on their weekly and monthly goals, tasks and projects.
A great mastermind or group coaching program is more about the doing than the dreaming… and it’s not just a bunch of people coming together to talk and exchange opinions and ideas.
And you can always identify a powerful program by the level of accountability you see in the group.
Element #7 Fine Print
When it comes to learning the details of a mastermind program, most entrepreneurs look at the sales page once and call it a day.
This is a big mistake.
A sales page is NOT a contract. It’s just a sales page.
In most cases, the person running the program is under no legal obligation to deliver what’s on a sales page.
And it’s why they must give you a legal contract to sign.
If you find out there’s no contract… run.
If they say something like “I’ll send you one later”… run.
And if you do receive a contract, read and understand the fine print -- every single one of the terms and conditions.
You need to know exactly what you’re agreeing to and what the other party is legally bound to deliver before you invest thousands of dollars of your hard-earned cash.
Keep in mind that most year-long masterminds and group coaching and training programs require a 12-month commitment without refunds.
This is to make sure you're fully committed and to hold the container of the program, since business is full of ups, downs and all arounds and it's natural for people to want to bail when the going gets tough -- and it will get tough!
So it's important to be fully ready and committed and to go in with the understanding that you have to do the work, you have to take responsibility for your experience and only YOU can make your business a success.
Remember Jim Rohn’s wise words… you can't hire someone to do your push ups for you!
But you can do them side-by-side with a mentor and in a supportive community so you have the best chances of success :-)
One more important note about contracts...
Make sure it includes a solid confidentiality clause so you know your ideas and personal information will stay inside the mastermind group and not end up blasted all over Twitter, Facebook or Instagram (it’s happened!).
Epilogue
What To Expect
Your mastermind or group coaching experience can -- and should -- feel uncomfortable at least half the time.
If every meeting, every live event, every activity feels easy…
If you’re way “ahead” of everyone else in terms of income and accomplishments...
If you’re consistently cruising along, singing a song and the whole thing feels like it’s a “no sweat” experience…
You’re in a program that’s too small for you!
An awesome mastermind or group coaching program will get you to stretch and grow in all areas of your business…
Expect to push yourself way outside your comfort zone…
Expect to do things you never thought you’d do.
Maybe that’s getting on camera or speaking to an audience of thousands, writing a book, raising your prices, owning your expertise (finally!) or growing your business to the 6, 7 or even 8-figure mark.
These things might seem totally out of your reach when you’re on your own…
But when you’re surrounded and supported by the right people, the right leader, the right energy of community and collaboration…
Impossible goals will become a part of your new reality in just a few months :-)
Here’s something else you need to know…
If you happened to have invested in a mastermind or group coaching program that was a total disappointment -- that didn't support you -- don’t let that hold you back from investing in a program now.
I can tell you for sure that every, single successful business owner on the planet got to where they are through trial and error and multiple failures.
Being a rockstar entrepreneur is about knowing how to find the gift in your less-than-awesome experiences. It’s about finding it in your heart to forgive yourself when you make mistakes and to trust yourself again to make good decisions in the future.
It’s also about getting the support you need -- sharing your experiences and fears with people who love you, joining a support group or working with a great coach -- so you don't let past failures hinder your business success for years to come.
Okay, so now that you know what an awesome mastermind or group coaching program is (and what it isn’t) plus what it can do for you and your business with the power of community, connection and collaboration, I have something very special to share…
It’s called Momentum and I’m proud to say that it’s the only year-long business-building mentorship program of its kind anywhere!
After years of coaching students and seeing the pitfalls they fall into… I developed a unique approach called "Flowmapping" to help you find your flow state in your business as well as identify the activities that slow down your progress or completely stop your flow...
In other words, helping you identify your path of least resistance.
And with 3 levels, the Momentum Program is specifically curated to meet you where you’re at right now...
ACTIVATE is for you if you’re just getting started.
ACCELERATE is for you if you have money coming in and your next step is 6-figures.
AMPLIFY is for you if you’re ready to scale to 7-figures and beyond.
With Momentum, you’ll get to go at your own pace and surround yourself with elite minds focused on getting the most out of the small -- but crucial -- parts of your business.
People with the kind of skill and perspective to have insights that could be worth… not just thousands... but potentially millions of dollars.
You’ll also have ongoing support from your own team of experts who’ll be checking in with you, helping you recalibrate or get unstuck or whatever else you need throughout your 12-month journey.
Our Momentum Program is the ONLY place where you’ll get to build what we call a Market of One Business™ -- a profitable business that easily attracts ideal clients and that’s inspiring to start, grow and sustain for years to come.
And as the online business world gets noisier and more crowded by the day, what we don’t want to do is build a business that’s exactly like everyone else’s... a business that blends in and disappears in the marketplace...
Instead you need to start and grow a business that stands out, a business that embodies and reflects who YOU are because there’s only ONE you :-)
Momentum also includes access to the entire vault of Live Your Message trainings and step-by-step business-building resources, LIVE weekly workshops on laser-focused topics with me and the LYM team where you’ll nail your message and brand, generate more leads, as you continuously move forward in your business.
You’ll also get to attend epic, life-changing virtual retreats with me and the team PLUS you’ll also connect with your mentorship tribe, have a ton of fun and form incredible personal and business relationships!
So if you want to learn more and see if Momentum is right for you, go ahead and complete the application and schedule your valuable 25-Minute Business Accelerator Call here!
I hope you enjoyed reading this Ultimate Guide as much as I enjoyed writing it for you and I hope to see you inside Momentum :-)
Marisa Murgatroyd
Founder and CEO of Live Your Message