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b'In this episode of the Thoughtful Entrepreneur, your host Josh Elledge speaks to the founder of The Success Alliance, Karyn Greenstreet.\\n\\nThe Success Alliance educates people about what mastermind groups are and how powerful they can be when executed properly. Karyn shares what a mastermind really is; it\\u2019s a group of likeminded people who share the same goals. The topics are endless and they meet to advise one another and get to their goals faster through the power of combined, great minds. The facilitator isn\\u2019t the center of attention, either. They\\u2019re there to offer ideas, focus, and guidance. Workshops and classes aren\\u2019t masterminds; what makes a mastermind group is that the participants help each other and are the main focus.\\n\\nCoaches, consultants, business owners, B2B service providers, and more should leverage mastermind groups. Karyn shares that she\\u2019s seen them utilized in two ways by business owners; it\\u2019s either to bring their clients together to overcome challenges and build community, or it\\u2019s the next logical step as a product offering. Karyn shares she wanted to operate something deeper than just teaching a class when she founded The Success Alliance.\\n\\nKaryn also describes how to frame your mastermind group; it should be your highest tier offering. Yes, some business owners will actually set their masterminds at the lowest tier, but that\\u2019s simply not scalable. You can\\u2019t deliver the intimate, tight knit experience to a couple hundred people. The mastermind group should be your highest ticket clients and be a high ticket experience for them.\\n\\nYou want to keep track of your clients\\u2019 progress, Karyn explains. In an intimate mastermind setting, you can actually pay attention and offer that support when needed. A classroom setting doesn\\u2019t offer the same level of awareness on your part of how they\\u2019re doing when they stumble. This is another unique benefit of hosting a mastermind group.\\n\\nWhat about the finances behind it? Karyn and Josh talk about how you need to first find where your mastermind will fall into your funnel. Your pricing needs to match your brand\\u2019s vision and purpose. Where does it fit into the ladder of what you\\u2019re offering? You can also offer various levels or tiers of masterminds if you want to make things more sophisticated. The sweet spot with pricing? Somewhere between $350 to $1,500 monthly, according to Karyn. You have to know exactly what value you\\u2019re providing as well as the type of experience. The price has to match what you\\u2019ll deliver, so a high ticket price needs a white glove customer experience.\\n\\nWant to learn more? Check out The Success Alliance\\u2019s website at https://www.thesuccessalliance.com/.\\n\\nCheck out Karyn Greenstreet on LinkedIn at https://www.linkedin.com/in/karyngreenstreet/.\\n\\nDon\\u2019t forget to subscribe to The Thoughtful Entrepreneur and thank you for listening. Tune in next time!\\n\\nMore from UpMyInfluence:\\n\\n\\u2705 We are actively booking guests for our DAILY Entrepreneur Success Podcast. Schedule HERE.\\n\\n\\u2705 Are you a 6-figure consultant? Let us fill your sales schedule and move you to 7-figures. Learn more here.\\n\\n\\u2705 Check out our free Authority Transformation Masterclass.'