http://traffic.libsyn.com/speakingofwealth/SoW_203_Kathleen_Gage_How_to_pick_or_start_a_mastermind20_group_for_profit20.mp3

Kathleen Gage has been successfully self-employed for the past 20 years and has developed quite a track record. She helps entrepreneurs make money online and has a no-nonsense approach to business. Kathleen is also the author of Power Up for Profits. Jason and Kathleen talk about mastermind groups, how to start one, and why making that big investment is worth it.
Key Takeaways:
[2:30] What has Kathleen learned from being a participant of mastermind groups?
[4:35] When people have to pay to be part of a mastermind group, they bring their A game with them.
[14:00] Starting your own mastermind? Start small.
[15:30] Talk to your colleagues who have already started masterminds.
[19:15] There is no cookie cutter answer to how you should price your mastermind.
[20:15] How should you structure the meetings?
[23”30] Kathleen doesn't like large mastermind groups. She prefers them more intimate.
Mentioned In This Episode:
http://www.powerupforprofits.com/ (http://www.powerupforprofits.com/)
Tweetables:
“If you're in a mastermind group where there's no financial commitment, I don't know how effective that's going to be. (http://ctt.ec/c3dXb)”
“Realize it does take a lot of energy to give a 100% to a good mastermind. (http://ctt.ec/Tc14D)”
“Do your home work. Talk to other people who have been in the mastermind group. (http://ctt.ec/4Ju7U)”
Transcript
Jason Hartman:
It's my pleasure to welcome Kathleen Gage to the show. She is a very dynamic woman and she's been in business for 20 years in terms of publishing and info marketing and teaching people how to all kinds of cool stuff. She's the author of Power Up for Profits and she's a no-nonsense, common sense, online marketing strategist speaker, author, and product creation specialist. She helps entrepreneurs make more money online. She's been successfully self-employed as I mentioned for 20 years and she gives her clients the tools they need to create business that last and make a difference at the same time. She is quite a consumer of and entrepreneur in the subject of mastermind groups. We've only talked about that a little on the show. So, I really want to dive into that deeply and welcome Kathleen Gage. Kathleen, welcome, how are you?
Kathleen Gage:
Jason, it is great to be and I'm doing wonderful.
Jason:
Yeah, great to have you. So, you've been in several mastermind groups. You could almost be, I don't know if you know who Elmer Dills is, but when I was a kid he was like a food critic. I'm going to say, a mastermind critic, because you've really seen a lot of this stuff and you run your own mastermind group and have a lot of insight into this. So, I kind of wanted to take that angle on today's show and learn from you experience.
Kathleen:
Sounds great.
Jason:
Maybe let's talk about it from the consumer side first and then we will talk about it from the entrepreneur side and how one can start their own mastermind group, be more effective at running one, etc, what have you seen and learned from the different groups you've been involved with over the years?
Kathleen:
Well, one thing that I've really learned from the mastermind groups that I've been involved with is to be very conscientious about the ones you want to join and if you're willing to make the commitment, because not only is there, in many cases, a financial commitment and if you're getting into one where there's no financial commitment, I don't know how effective that's going to be. I used to try to get into all the free stuff years ago and I found that when I was willing to put skin in the game and put money in the game, things dramatically changed.
The thing you want to look for is who is the leader of the mastermind, what other entrepreneurs or people, depending on what the subject and the theme of the mastermind would be. Who else would be in that group,