Does Size Matter?
Get your mind out of the gutter. I’m talking business here. More specifically, I’m talking about the size of your email list.
Bigger is not always better. If that was the case, Blockbuster would still be here and Netflix wouldn’t exist. That’s the beauty of a subscription-based business model like Netflix or masterminds.
When I started my first mastermind group, I didn’t have a big list. The group was less than 20 people. Of course, since then the size has grown and so has the price. And they will continue to do so.
A few committed people can create a movement. As the leader, you just have to start.
To help you, I shot this quick video to encourage you to get started with who and what you already have…
Finding Your Founders
You have to start your group somewhere. When people come to me with small email lists, I have them focus on finding 5-10 Founding Members.
Traditional in-person mastermind groups are usually only 5-10 people anyway.
As Newton’s 1st Law of Motion states…
“Objects in motion tend to stay in motion.”
Founding members help you start to build momentum for your group because a group in motion is always more attractive than a group that hasn’t started yet.
A mastermind group with only 20 people paying you $99/month is $2,000 per month or $24,000 in new revenue for the year.
How Do I Start Building My List?
List building begins with a lead magnet. It could be a worksheet, a webinar, an ebook, a video series, a tool, a successful case study, an assessment test, among other things.
The goal is not to get an email address. If you start with that intention, it won’t work. Your primary goal is to deliver a result for someone…for free…in advance of ever asking them to work with you.
In exchange for that result, they may give you their email address and permission to communicate with them about what else you have that can help them.
List building can take time. But it is even more frustrating when you’re doing it and you don’t have a strong offer that will compensate you for all of the time and energy you are investing.
A mastermind is the most ideal offer you can make to someone who doesn’t want more information, nor are they ready to pay for your high-end coaching package.
They simply want to continue learning from you and a mastermind provides the most ideal way for you teach and transform in a scalable way.
Learn. Lead. Love.