Let's talk group programs, memberships & Masterminds.
If you're teaching something then a group program could be a great way to work with more of the client you want at one time. That's what scaling looks like – economies of scale you can do more with the same resources.
So if you're coaching 1 person you could be coaching 5 -10 -20 people.
One of the questions I get is which one is right for me. So we'll talk through 3 models
If you want to build a community that grows and you want to support them on an ongoing basis then a membership could a great model for you.
I've seen memberships that are $7 a month and others that are $500 plus a month, so there is space for whatever kind of membership you want to create.
The one thing I would say is to have a financial goal and then a number of members that you would need to have in your program in order for it to be financially viable and rewarding for you.
There is no point have a $10 membership with 5 people in that you're giving loads of time and effort to.
The other thing with membership and with any of these types of group programs is that it can be about anything – sewing, cooking, mindset, money, business, design – you name it there will be a membership. I remember during lockdown we discovered a woman on YouTube who had a drawing membership that had thousands of people in it, where she would share a new drawing for her members and then some other resources for them which was perfect for families with kids or people who loved to draw.
If you are going to have a membership then like with any program you'll need a marketing strategy around it because you always want to have people joining as you may have what they call churn, which is people leaving as well.
One of the things that people hesitate at when it comes to membership is feeling like they always have to be ON, but if you plan it well then you don't need to always be on. You could create your 12 months' worth of content where you may have a call with your members, you may provide a worksheet or checklist or a training video or masterclass on the topic you cover.
That means you could front-load it all and then release it every month and just manage the community. You can also hire a community manager or promote really active and engaged members within your community in a paid or free capacity.
So is a membership right for you? Just remember that people come for the content and they stay for the community so spending time building a really awesome community is important.
Let's talk about group programs. I've had a group program since 2016 in different iterations, the main one being the Bold Business Academy.
When I started it was called Play Big, Brand Bold which is the name of my book but no one could ever get the name right. I started with 6 people in the first round which was great and then it evolved from there. I think it was about $700 in the first round, then over the years I've built it out, done a lot more coaching with my clients and updated it every year or two.
With a group program you can have open and closed dates where people come in and then they work through the content together or they can come in evergreen which means they can join at any time and you have support within the program to help them which is where BBA is now.
So your group program can be whatever you want it to be in regards to how you run it.
I think for me the appeal of a group program is teaching my clients specific things when it comes to how they can start to run their business really well, understand money, branding, sales & marketing but also how they can build their confidence and just be more courageous.
Once they go through that then there are monthly live coaching calls and we've just added a membership which will be released in the next couple of months where my clients who have been in BBA for over 12 months can stay as active members of the community and continue to get access to live coaching.
So your group program can evolve with you, the market and how you want to run it.
When I started my program there was a general way of doing it which was someone pays for the program and they get forever access to you and support which I think commercially is just not the best decision and it's not something I recommend to my clients.
If you want to work with people in a higher touch container then a mastermind is something I see as next level. I talk to my clients about graduation or ascension model services in your business.
What that means is that you meet your clients at their needs at stage 1 and then stage 2 and maybe stage three. How could that look? So for example BBA teaches the foundations of business so you may be in the first 1-5 years of business. Amplify then takes my clients who already have their business up and running and it teaches them next-level sales skills, how to build out their group program, membership or mastermind, how to build a personal brand and how to be a better coach as it can be a new skill for some of my clients who are moving from done for you to done with you.
When I started my Mastermind it was originally 6 months, but I found that my clients wanted to stay so I made it a 12-month container. A mastermind is something I see as a more high-level conversation and transformation. It's not just about business, it's about how you're growing a business that works for your life, it's about how you show up in your business.
I talk about revenue stacking which is a next-level concept as well.
So if you think that you can hold space at that next level for your clients then a mastermind is a great 2nd step for clients who have already worked with you.
At the end of the day, you have to decide how you want to work with your clients, which container you think is the best for you and your business and what you're trying to build and then make a decision and back yourself.
All of it takes marketing, building the messaging and being consistent with your strategy. I'm not a believer in passive income but I am a believer in scalable income and also working with your clients at different levels.
When the BBA mastery membership starts then I'll have all three models in my business. I understand how each of them work separately and work together, I understand the need that each of them meets and I have a clear strategy.
So hopefully that gives you some insight. If you want someone to support you to make this happen then make sure you apply for the Amplify Mastermind at suzchadwick.com/amplify and you can book a call to make sure it's right for you too.
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