If you’ve ever thought about adding a mastermind to your business, I’m going to show you my completely unorthodox mastermind method. That is actually historically throughout the entire length of the time that I’ve had it been at literally 100% profit. And it’s honestly the favorite aspect of my business. And that’s what I’m going to cover in today’s video because the way that we do it at GetClients.Com is a lot different than the way that most people do it. And you may like this better than what you see out there in the marketplace currently. So if you like videos like this, make sure to subscribe and smash that like button, so you don’t miss them.
Hey, everybody, Dan Henry here. And one of the things that I see people asking about a lot is how to create a mastermind. Now there are so many different ways to define what a mastermind is and what I’m going to do first is I’m going to go through kind of like what those different mastermind styles are that I see out there. And then I’m going to tell you what mine is, why I like it and why I think more people should do it this way.
So first of all, a mastermind is, generally, where you get a group of people together. They come out to a physical location, and they meet, and the network and they learn. And it’s generally a high, high, high ticket offer. Usually, the price points range from $20,000 to $100,000, depending on the mastermind. Now, some people sell a mastermind directly, and that’s all they offer. Some people have a main offer. Maybe it’s an offer that’s two grand or five grand or ten grand. And they then upgrade their Primo students in that coaching or consulting offer to the mastermind. There are a couple of different ways to do this.
So there’s a more networking-based mastermind where the main goal of the mastermind is for the people to come into the mastermind and help each other. So they network, they speak with each other, and that’s a great type of mastermind, but it’s heavily based on logistics and networking and the experience, right? You’ll rent out fancy hotels. You might rent out bars. I just attended one recently. They rented out the pier here, and it was a great time. They had great food, but it was an experience, you know, and there was a lot of networking. There were guest speakers. That’s one way to do it. I would call that the experience mastermind, right?
And then there’s the mastermind, which is similar to that. But everybody is there to specifically speak or contribute, right? So it’s a more intense version of the first one. The first one is more networking base. This one is more direct value-based, where everybody speaks. And this was similar to when I was in Russell Brunson’s mastermind, you know, they would go to the events, and everybody would come up and present and basically share the best of their business, the group. And that’s awesome too.
And then there are ones where it’s purely external, meaning you go there and there are guest speakers, and there are guest presenters, or maybe the owners of the mastermind present. Again, a lot of times in these mastermind groups, where there are fancy dinners. There are celebrity guests. There’s a lot of things that make an amazing experience, but they’re very expensive. So a lot of people they’ll hold these masterminds. The people will love them, but they won’t make much money. Maybe they break even, or, you know, they just want to do it so that everybody can get together. And they really weren’t trying to make money off of it.
For me, I take a much different approach. I’m not really big on, and this is where the hundred percent profit comes in. I’m not really big on experiences. You know, I’m not really big on guest speakers, celebrity guests, renting out bars. That’s not how I do it. I view masterminds a little bit differently because what I did was I looked at the market, and I saw, okay, what are people upset with? Or what are people not liking about masterminds? And I went out there, and I just did some digging, and I found out, okay, what do people not like?
And this is not all people. This is just a certain amount of people, but I would hear things like, “Hey, going out to dinner is great, but I really just want to grow my business.” “Hey, it’s cool that they’re asking me to speak, but I’m not really there to speak. I’m there to hear the owner of the mastermind speak. I want more time with him. I want more help with him or her.” “Hey, you know, I love going to Disney World, Disney world is great, but I can go to Disney world anytime with my kids. I’m here to grow my business. I’m here to Excel my health. I’m here to learn how to be a public speaker. I’m here to learn how to be an author, not really here to go to Disney.” You know, and these are the things I heard. And so when I created my mastermind, the concept that I had was, all right, what if it was just way more time with me?
What if I just took everybody that came into my office or a modest hotel, And I literally just helped everybody for two days. There was no format, you know, like what if I just said, all right, what’s everybody dealing with. I wrote it up on the board and just answered questions and just directly worked with people. And so that’s what I tried. And I thought, well, maybe this is going to be really bad. Maybe people aren’t going to like this. Maybe they expect hats and t-shirts and all this and swag and fancy dinners. And I should have brought in Carrot Top to do a comedy sketch. I didn’t know when I started doing it. People loved it. And they would say to me, Dan, this is the first mastermind I’ve been in, where we forget the theatrics, and we just sit in a room, and we solve problems, and we just help.
And yes, there’s a networking element as well, you know? But the main thing is, it’s just more time with me, the head of the company. Cause that’s what people say. And I’m sure if you’re a coach or a course creator, consultant, same thing with you. People want more from you. They want more time with you. They want to interact more with you. They want you to help them at a closer level more often. And I saw this need. I said, okay, well, why don’t I just do that? And when I did that, the fee was $30,000. We were to grow that to over 80 members. It was creeping towards 100. And then, we upped the fee of $55,000, and we reduced the number of members. And now more and more members are joining.
But, currently, it’s $55,000, and this may sound weird; you man think, well, Dan, you charge $55,000. Why can’t you bring in celebrity speakers? And I thought about that. I thought about fancy dinners and all that, but here’s what we did. It’s $55,000. We have events six times a year. It’s every other month. It’s a two-day event in either my office or a modest hotel. And it’s two days of my time where I go deep. And I just help people as much as possible. I coach them, and I work with them in person. And every time we do that, people make amazing breakthroughs in their business. And when I started doing that way, I got more serious people to join the mastermind. I enjoyed myself more because I wasn’t worrying about running around, worrying about, oh, is this person going to show up time? And is this show gonna happen? Are we going to go out to this theater?
And it was just like, all right, here, I am. Let me help you. And there are some amazing success stories from that format. Andy Stickle came in, and in the three years he was in the mastermind, he made $11 million. I would say that’s a pretty good return. We had an awesome friend and client of mine, Jason Phillips, go from $150 grand a month to $750 grand a month in four months. And I can go on and on about this. And I’m not trying to brag or say that my mastermind is awesome. What I’m trying to say is that if you are good at what you do, if you are good at coaching, and you are good at helping people, why not just make your mastermind of more of that? Less of the theatrical and more of that.
You know, I take my people out to dinner. We go out to dinner at the end of the mastermind, and we provide food and all of that. But we don’t make it this thing where we’re stressing out. We just go to a restaurant. You know, we don’t make it this thing where we’re stressing out to make it this big production, this big theatrical event when that’s not what people want. They want help. That’s what they want. Everything else is secondary. And so when I flipped that, I got people that I wanted to work with more, people willing to pay a higher price and better results for the clients.
And so I recommend that you maybe take a look at that. And, you know, and because I don’t spend any money to promote the mastermind, right. People either sign up by considering our lower group program. And they say, no, I want to go right to the mastermind, or they’re already in our group program, and then they say, I want the next level, so they move up. So I’ve never spent a dollar on advertising for the mastermind. And then when people come to the mastermind, they pay a very small fee to cover food, which covers all the food and the hotel. But most of the time, we do it in the office, and that’s it. So like I don’t have to dip into my pocket to put it on because I’m not doing it theatrical, hoopla. It’s just my time.
So if you’re considering creating a mastermind, I say, look, if I can make it work, you know, if I can sell it to dozens and dozens and dozens of members for $55,000, why can’t you charge a premium price for a mastermind and do exactly what I’m doing? Do away with the theatrical and focus more on the actual thing that matters, and that’s helping them. So this is just my perspective. Maybe I’m full of it. Maybe I’m a unicorn in this business where I can do that, and people are still knocking down the door to pay for it. But I don’t think so. I think if you focus more on your ability to help people, you will get further in this business. You’ll create more impact than if you focus on theatrics and superficial things. And again, you don’t; you can do it that way if you want. Tons of masterminds out there, do it. This is just my way. I’m more of a minimalist, and it works out great for me. It works out great for my clients. And it’s multiple million dollars per year recurring revenue. And all I gotta do is show up and do the one thing I love to do the most. Hang out and talk about entrepreneurship and marketing and help.
I hope this gave you a different perspective on running a mastermind. If you have any questions, let me know in the comments. And maybe what I’ll do is I’ll do a follow-up video where I answer some specific questions about this in the comments. So don’t hesitate to ask. Okay. And of course, as I always say multiple times, make sure to subscribe. See you in the next video.