269: How to Set Up and Sell a Paid Mastermind Group

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Natalie Eckdahl 300

Note: Click here to download Natalie’s top tips for creating and selling a mastermind group program from this episode.

Women pay up to $2000 a month to hang out with Natalie Eckdahl for a few hours.

The mother of 3 has turned her BizChix podcast (which started as a side hustle) into a thriving business based largely on paid mastermind groups. She curates groups of high-performing female entrepreneurs – and gets paid handsomely to do it.

Is this a revenue stream you could add to your business?

If you’re in a consulting, freelancing, or coaching role and trying to figure out what the next step is to scale up your business, a group mastermind program could be the answer.

In fact, a paid mastermind was the first thing I sold on Side Hustle Nation, but I put the program on hold after our son was born. All of a sudden that extra hour or two in the evening became a lot harder to part with!

I wanted to pick her brain on how she set everything up and sold it to her audience.

“What I’m trying to create is an amazing brainstorming opportunity for the women that join the group,” Natalie said.

Today she’s running five separate premium-priced masterminds for 5- and 6-figure entrepreneurs, with prices ranging from $600 to $2000 a month.

But it almost didn’t happen. She was a few weeks away from putting BizChix on pause, when a fateful few customers sparked a major turning point.

Tune in to hear how Natalie sets up her groups for success, structures the meetings, and 20x’d her rates in 3 years.

Download the Free PDF Highlight Reel:

Click here to download Natalie’s top tips for creating and selling a mastermind group program from this episode.

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Learn:

  • How Natalie come up with the idea of starting a mastermind program.
  • How she went from $397 (or was it $297?) for 3 months to a $20k a year membership.
  • How she structured a program for her mastermind participants to get the most value
  • The sales techniques she uses to fill seats in her groups.
  • How she uses her application process to create diverse groups.
  • The tools she uses in her business.
  • How she is delegating and removing herself from the business.
  • Natalie’s #1 tip for Side Hustle Nation.

Links:

Download the Free PDF Highlight Reel:

Click here to download Natalie’s top tips for creating and selling a mastermind group program from this episode.

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5 thoughts on “269: How to Set Up and Sell a Paid Mastermind Group

  1. What a great interview!
    I was wondering what does Natalie do about attendees who don’t show up? Are they banned from the groups after a while?
    Or maybe that doesn’t happen since they paid good money for it.

    Thanks!

  2. Hey Nick, why did you drop the voiceover in the beginning of your show – “WELLCOME tooo the SYYYIDE HUSTLE SHOOOW, where your 5-9 makes you a living but your 9-5 makes you ALLIIIVEE!”
    I loved that voiceover! But maybe you’re just trying to get more interview talk time!

    • Haha thanks Nicolas, happy to hear you were a fan of the voiceover guy :)

      A couple reasons for his departure:

      First, in my annual survey, several people mentioned they hated him and he wasn’t making a great first impression for new listeners.

      Second, and probably more important, like you said, cutting that segment allows me to get into the “meat” of the show faster.

  3. Nick,

    Great show. I found myself wanting to find out more about the mastermind program but, alas, I’m missing the key qualification for a group of female entrepreneurs! Are you planning to restart your program or can you recommend one that’s open to men as well?

    Thanks!
    Mike

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