Should you join a Mastermind?
I've invested in so many coaching and mastermind programs over the years.
I've literally spent hundreds of thousands of dollars and some have been good, some not so good.
On today’s podcast we're talking about how to recognize FOMO when investing in coaching and mastermind programs.
And on the flip side, how to spot scarcity mindset and a fear of investing.
It’s such a juicy conversation!
How do you know if a program’s worth it, and when are you investing because frankly someone sold you into it?
Depending on what stage of business you’re at, you might need different types of support and training.
If you're at the start of your business, one of the big mindset hurdles is loneliness.
Perhaps you don't have any other friends in business?
Joining a mastermind or a group coaching program is such a great way to make friends.
Look for a program where you can be around people who are in a similar stage of business to you.
Do you need accountability? Or step by step advice?
It might not be a super sexy program. You might just need lots of practical resources.
If you’re starting out: consider how much useful information is there for you? And how specific is it?
At the next stage (you’re running your business, you’ve got clients) maybe you've hit a plateau and you need some new strategies.
Money mindset work could be a really good fit. Or perhaps you need a mastermind or a coaching program to show you what’s possible.
People join Money Bootcamp because they want to be in an environment where people talk honestly and openly about money.
We have conversations about success, blocks and real numbers ALL THE TIME.
It's okay to ask questions!
Don’t feel pressured into buying a program.
Ask yourself: Will this work for me? Is it a good culture fit? Is it a good personality fit? Is it a good lifestyle fit for me? Do the logistics work out?
Just because you pay someone $100,000 does not mean that they're going to help you make you money.
You might get excited by a big sexy coach, and believe that in itself is going to you more money, and sometimes it doesn't work out.
It’s easy to get sucked in at an event or to fall a bit in love with someone.
So it’s important to get clear on your return on investment.
Listen to your body: does it feel good in your body? If there’s any hint of desperation or FOMO it may not be the right decision for you.
But also look deeper at where resistance is coming from, sometimes FOMO can be a positive force to help you take action.
What do you really need right now?
You might realize you need a skill. Or you need motivation. Perhaps accountability or maybe you need friendship and connection.
You might need to see inside someone's business. Maybe you just need permission.
Remember no one can do the work for you. No amount of investment will make money magically appear!
It doesn’t have to be perfect. I'll join people's programs and never really do the course. I get enough out of their community or some calls that are useful.
You might need to forgive yourself about past mistakes.
Maybe you’ve invested a ton of money and you didn't get the return. I know that can feel so hard.
Maybe you got burnt and you’re wary about investing again.
Know that it’s safe for you to make good decisions and have discernment around where you invest your time and energy.
In this episode, you'll learn:
- How I got a business loan to pay for my first program
- How to get the best bang for your buck
- My cautionary tale of investing in coaching
- My recommended questions to ask yourself
- How to make the right investment for YOU
CLICK HERE TO READ ↓
About the Show
Chill & Prosper is your weekly dose of money mindset, marketing and humour from best-selling author and entrepreneur Denise Duffield-Thomas.
Denise's philosophy is that there is ALWAYS an easier way to make money and that's what she's here to help you do. Each week, you'll get actionable advice to help you make more money, with less work. There's no need to hustle - let Denise show you how to embrace the Chillpreneur way.
Be sure to hit subscribe so you don't miss an episode!