Eric Siu breaks down how a mastermind group hit $35M in annual revenue. The formula: charge $35k to $50k per person, fill a room with 100 to 150 attendees, run two intense days where members present problems and get advice from peers, and skip the fancy catering. Small team, high margins, repeat business.
There's this mastermind, it makes $35 million a year with 5 employees. A lot of that money was being spent towards ads. I think he was charging like either $35,000 or $50,000 a year. I know that's, that's a big delta. And you know how like I do my mastermind, right? It's like there's speakers, we do events and all that stuff. There's like, you know, there's nice hotel, blah, blah, blah. It's not like that. The way he did it, which is he would have like 100 people or 150 people go to his office, right? And then everyone would just sit, actual classroom. And then Sam's just like, all right, what do you guys want to talk about? And it's like, what's your problem right now? Just go down the list. What's your name? Oh, my name's Neil Patel. My problem is this. Then he has a good sense of what everyone's struggling with. And he's like, okay, Your problems with YouTube. Who here is good at YouTube? Okay, great. You guys are speaking on YouTube tomorrow, blah, blah, blah. And then he'll cover some topics as well, but he gets the mastermind to chip in. And lunch isn't anything fancy. He just calls in a couple of taco trucks. They eat the taco trucks, right? And they go back to learning. It's just like 2 days of grinding out on the business.
