How do I choose my mastermind niche?

Foreign. So here's another great question we get about masterminds all the time, is how do I choose my mastermind? Niche or niche, or whatever you want to say is really important to understand that 80% of masterminds are going to be in the money niche. So there's like, three big niches in life that people have the most challenges with. As you're going through life, it's money, it's health, and it's relationships. So health, wealth, and relationships. And typically speaking, there's plenty of group programs that could be considered like masterminds for the health and the relationships niche. But that's not typically what people gravitate towards when they think about a mastermind. A mastermind is usually about reaching your financial or business or impact goals, and you're utilizing the collective resources, opportunities, people, systems, structures, strategies that a whole group has, as well as the facilitators and the experts to come together and to get clarity on these challenges and to move past them and get momentum so that you can get results in your own life. So start by thinking about, all right, what are the three top niches? Where do I want to go? Let's say it's money, and then you want to go down at least one or two niches, right? You don't want to be so broad that it's for nobody, but you don't want to be so specific that it's also for nobody. So what would be an example of too broad is marketing, but more along the lines of too narrow is like, I do marketing for specific firms, you know, like in a specific niche, and I only do that. That could be a really strong niche. So let's say I'm a marketing expert for accountants. I help accountants get more clients and more leads. That could be a really great niche. But if you go too much into that niche, you'd be like, okay, I only do marketing for accountants who specialize in, you know, creating 1099 forms. I don't know. I'm not an accountant, but I'm just. I'm getting so specific that it's almost for nobody, right? So there's. There's an element of, you don't want to miss the forest for the trees, but you also want to make sure that that tree that you pick or that bush of trees that you pick, that bunch of trees that you pick is very granular and focused. So think about what have you always wanted to learn? About what are you already an expert in that others might want to learn? What do you want to solve what kind of problem for whom? Very specifically so that you can craft a benefit statement. And that's I help X to Y through Z or I help X to Y in Z amount of time. And however you craft this benefit statement, it's really important to get specific. So it's not good enough just to say I help people make more money. It's I help coaches, consultants, entrepreneurs, leaders, speakers, authors, experts to make a hundred thousand dollars or more bottom line in their business in five, ten hours a month. With Masterminds, that would be a really strong specific who it's for, what it's for, what it does, how you're doing it, in what amount of time, benefit statement. And if you get really clear on that, then you can also get it to your why, right? Which is going to drive you to get to this result. So what's going to take you through the brick walls? What's going to keep you from stopping or quitting when it gets hard? And here's a question to help hack this. What's something you've been through or had to learn the hard way that you would never ever want someone else to have to do like you had to? If you could make their lives easier, how would you do it? So niches that always work and have endless demands are marketing, sales, systems, leadership. If you can get into one of those niches, you're going to be a really strong shape. So if you have an E commerce mastermind, or an advertising mastermind, or a mastermind that focuses on coaches and consultants growing their businesses from six to seven figures or seven, eight figures, you're going to be in a really specific place where it's not too broad, it's not too narrow, it's in a niche that people will pay for. And you can call it a mastermind versus a workshop or a think tank or a group program or something along those lines. And a masterminds is this incredible vehicle that allows you to impact more people in less time and make more money with less time than you ever have before. So when you get it working correctly, it's not unrealistic to say that you could replace or add a lot of current income and profit to your business in less time. You can do these virtually, you can do them in person, you can do them as an expert or as a non expert. You can do them ongoing or you can do them as a one off. You can, you don't need a ton of inventory or overhead. And getting a mastermind off the ground is now easier than ever. I've been working for the last 10 years to make it a really strong process that anybody can follow. Five steps. It's dream it, research it, test it, nail it, scale it. And we teach you how to do all that in both my book and our trainings and our course. So you can check that out as well. Go check out the book. It's free, plus shipping at 8minutemastermind.com. The training is at mastermindvirtually.com, we'll give you the top three things you need to learn in order to get your virtual Mastermind off the ground. Get you adding $100,000 to your business in five, ten hours a month. And and if you want to work with us to do this over the next six to eight months, we have a program called Build a Mastermind as well, or the Bam Fam for short. So feel free to reach out if that's of interest to you and you just want to get to where you're going faster and you're not looking to try to figure this all out on your own, that's perfectly fine if that's you. But it's just going to take more time, energy, attention and money. I'm the kind of person I want to cut a check to go faster, so that's my values. It's okay if it's not your values. I understand. But I hope you found this video valuable. And if you have additional questions, feel free to leave them in the comments or send us a note. My name is Brad Hart. You can check us out over at 8minutemastermind.com, mastermindvirtually.com for the training or build a mastermind.com if you want to check out case studies, testimonials and go to the next level with us. All right, have a beautiful rest of your day. Thank you so much for watching and take care.