So you’ve been in the online business world for a little while now.
You’re starting to finally feel comfortable calling yourself a professional, if you will. 😉
And maybe you’re starting to consider sharing your expertise with others.
There are people out there that need your genius! 💃🏽✨
(Remember, you’d don’t have to know EVERYTHING about your field in order to be a leader & a contributor to the larger conversation happening!)
When it comes to sharing your business expertise there are two common ways to do this: Either running a mastermind or a group coaching program.
They are both FAB. 💛
Which almost makes it harder to choose between the two!
But don’t sweat it.
’Cause this week, we’re breaking down the difference between a mastermind and a group coaching program so you can confidently decide which option is the best for you and your biz.
So without further ado, let’s dive into it! 👇🏽
All About Group Coaching Programs
The guiding principle of a group coaching program is that all the participants within the program hope to achieve a specific result or have a particular transformation.
This transformation is facilitated by a lead instructor (you!) who provides a guiding curriculum or framework for the course.
This curriculum is carefully crafted to support the participants in achieving their desired results.
Let’s be clear about something: A group coaching program almost always has a single lead instructor, BUT that certainly does NOT mean you have to teach alone.
Of course, you can always invite trusted colleagues to guest teach within your program.
This diversifies the training that your students are getting, and it also gives you a break from being the center of attention all the time! 😉
So, what is your role as the lead instructor?
The lead instructor/coach is responsible for providing their students with coaching, content, and guidance.
This can be in a written format, audio format, or video format.
It can be live OR prerecorded.
Whether you get nervous showing up on video, or you are just WAY too busy to show up in real time with your students week after week, having the option to prerecord your lessons can be a game-changer.
The most important part of group coaching content is that it is always in alignment with the guiding curriculum necessary to the transformation. ✅
What is the structure of a group coaching program?
This type of program can range from as few as three and as many as 500 participants enrolled at any given time.
And enrollment can be quite flexible!
You might choose to operate using a cohort model. This is where enrollment periods are limited and content is shared over a specific scheduled period of time.
Or, you might be more interested in the rolling enrollment model — meaning that participants can join anytime and work through the course curriculum starting on any date they choose.
Group coaching programs may or may not have in-person events or retreats, but they are becoming quite popular.
Participants often crave that kind of connection to take their learning to the next level, and it’s always fun for instructors to meet the people who are on this journey with them.
Group coaching programs are flexible, versatile, and can cover a vast range of personal and professional topics.
No matter what your expertise, there is a model of group coaching out there that can work for you!
All About Mastermind
So, how is a mastermind different from a group coaching program?
First of all, a mastermind is specifically related to business development.
In other words, it’s a business development group.
If that’s not your area of expertise, no problem!
A group coaching program might be the way to go instead.
But if business development is exactly what you’re looking for, a mastermind might be a fit for you!
In order for them to be successful, masterminds must have a carefully curated group of individuals, whereas with a group coaching program, the program can still thrive regardless of the different folks who enroll.
So, what’s your role as a mastermind host?
When starting a mastermind, you need to carefully curate a group of professionals who operate at a similar level, share similar values, and are looking to join a supportive community.
And most importantly, your mastermind needs to be full of pros who are seeking to grow and develop themselves personally and professionally.
Masterminds tend not to have a specific curriculum or structure.
Instead of having a specific framework prepared, the facilitator (you), is responsible for determining an overarching philosophy/goal to guide the topics of discussion within the group.
The facilitator has a very different role than the lead instructor of a group coaching program.
The facilitator is responsible for creating an environment where each participant feels accountable to the group — to show up, contribute, and help one another grow. 💛
Your job as the facilitator of a mastermind is to invite group members to bring their unique perspectives, expertise, and knowledge to the community.
You are not *teaching* in the way a lead instructor of a group coaching program would.
In a group program, there is a lot of receiving happening. Participants of the group program are on the receiving end of knowledge, wisdom, and experiences provided by the instructor.
But with a mastermind, it’s really about giving and receiving with the intention of building relationships between one another.
What is the structure of a mastermind?
Because of the focus on group dynamics, mastermind groups are often WAY smaller than group coaching programs.
They range from anywhere between three and 20 participants but are usually no more than 10 people.
Most mastermind programs do have some kind of in-person component or retreat.
This is because of the intense and intimate nature of working in such a tight-knit community.
It truly helps to share space and get to meet your business besties IRL. 💃🏽✨
YES, this is a really common part of a mastermind group, but it is not mandatory by any means.
Choosing the Model That’s Right for You
As you can see, there are a TON of benefits to both models.
A group coaching program gives participants the chance to receive knowledge, wisdom, and curated content from the lead instructor of the program.
On the other hand, a mastermind is the creation of a closed container, within which its members draw upon the collective experiences, wisdom, professional networks, and influence of its members. It’s truly a team effort!
Our hope is that you are starting to lean toward one or the other, BUT if you are still torn, you’re in luck! ✅
It is becoming more and more popular to host masterminds that are done in a hybrid style.
These hybrid masterminds keep their intimacy but rely more heavily on the facilitator to create content for the participants and implement a group framework.
This way, you’re getting the best of both worlds!
Regardless of which of these two FAB options you end up choosing, you’ve gotta have ONE important thing before starting to work with clients.
And that is … CONTRACTS.
Luckily, we’ve got you covered in that department. 😉
Let US take care of the legal stuff so YOU can focus on sharing your genius with your clients, sis!
Check out our ready-to-use, lawyer-approved, plug-and-play legal contract templates! So you can upgrade your client contract while staying Profitable & Protected™✨
Not sure where to begin? We’ve got you. Grab our FREE Legally Launch Handbookto get the legal lowdown on everything in entrepreneurship, without the confusing mambo jumbo. We’re serving it up straight & to the point. (Heads up: It’ll forever transform the way you view your client relationships!) Grab your copy now.
*The information presented in this blog post is for educational & informational purposes only. This should not be a substitute for customized legal advice from a licensed professional in a private setting. If you need legal advice, please consult with an attorney. This is not a law firm.