40: How (and why) to Build Your Own Mastermind Group, Plus How You Join One With Fellow Side Hustlers

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I’m Nick and I have a confession. When I recorded this episode with Alex Barker from AlexBarker.org (The Leadership Dojo podcast), I had never been in any sort of formal mastermind group.

Listen to the collective gasp in my blogger/podcaster/entrepreneur-type circles, that information is blasphemy!

It’s totally my fault. Masterminds are something I see huge value in but just never made a priority — until now.

In this episode, we talk all the details of what a mastermind is and why they’re important for side hustlers. Alex knows a thing or two about the topic, having written the book on the subject: Hangout and Grow Rich: How to Build Your Virtual Mastermind in 30 Days (which he generously offered for free to Side Hustle Nation if you visit his site and send him a message).

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  • What a mastermind is. (“Your personal board of directors.”)
  • What I picture when I hear the word “mastermind.”
  • Why you should have one.
  • How to set it up (where to find potential members).
  • The technology to run the meetings.
  • The 4-part structure/format of the meetings so everyone benefits.
  • Alex’s #1 tip for Side Hustle Nation.


Have you ever been in a mastermind group? Did you get value from it? Let me know in the comments below, and I’m especially curious if you’d be interested in joining an upcoming group specifically for side hustlers.

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Nick Loper

About the Author

Nick Loper is a side hustle expert who loves helping people earn more money and start businesses they care about. He hosts the award-winning Side Hustle Show, where he's interviewed over 500 successful entrepreneurs, and is the bestselling author of Buy Buttons, The Side Hustle, and $1,000 100 Ways.

His work has been featured in The New York Times, Entrepreneur, Forbes, TIME, Newsweek, Business Insider, MSN, Yahoo Finance, The Los Angeles Times, The San Francisco Chronicle, The Financial Times, Bankrate, Hubspot, Ahrefs, Shopify, Investopedia, VICE, Vox, Mashable, ChooseFI, Bigger Pockets, The Penny Hoarder, GoBankingRates, and more.

6 thoughts on “40: How (and why) to Build Your Own Mastermind Group, Plus How You Join One With Fellow Side Hustlers”

  1. Good interview Nick,

    I must admit the advice on how not everyone will have success starting a podcast could be perceived in the wrong way very easily I believe. I feel that you should just start whatever you want, regardless of how talented you feel you are in that medium.

    You learn by doing.

    Just like you said Nick; the first episodes of SHS were maybe a bit stilted, but now it’s super professional. Keep killing it! Thanks again for the content, great company on this morning run.

    – Nicklas Kingo

  2. I keep hearing about mastermind groups, but as I am just beginning the process of brainstorming a side hustle I don’t know when the best time is to join or start a mastermind group. Now or after starting? Your thoughts?

    • Hmm excellent question. A group to bounce ideas off of will certainly be valuable from the very beginning, and would help you gain clarity on which path to pursue. It might be best to try and find a group of people who are slightly farther along so they can help guide you, but a group of people in a similar position can still help too, because you can really hold each other accountable and make progress together.

  3. Looking for a marketing mastermind… I’m in the process of starting the marketing for my online software and would like to have a mastermind to help me through the process.

  4. I know I am late to the Nation, but I am working through old episodes during my internship. I am in love, on fire, and beyond words about this concept. I want to create these for others, I want to help people find their own masterminds and grow and become more. This is everything I have been trying to articulate to myself about what I want to do after college.


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