The truth about masterminds (good, bad and ugly)


The truth about masterminds (good, bad and ugly)


Matt Gallant here.

Just got back from a great vacation in Canada. It was culinary debauchery. I ate french fries cooked in duck fat, soaked with gravy and cheese. It’s called “poutine” (from Quebec) and many more things.


Lobster Grilled Cheese

I was hanging out with some of the smartest fitness internet marketers in the world. Vince Delmonte was there, Dave Ruel (the muscle cook) and many others.

The Mastermind

We were there for a private mastermind session. I want to share my real opinion on masterminds. (good, bad and ugly).

I’ve been a part of DOZENS of masterminds since I started my journey into internet marketing.

In general, I think they’re great.

But I think most people get a FRACTION of what they could get from them. They have the wrong attitude, and it ends up costing them BIG TIME.

First things first: If you’re in a mastermind… be there to GIVE MORE VALUE THAN YOU RECEIVE.

I don’t care if you’re just a raw beginner who started yesterday.

You should always be giving with your time, pay for people’s dinners and lunches, share your expertise in your field (even if it’s unrelated to business), offer to help people, share your contacts, etc…

That’s the key that opens everyone up around you.


What’s better?

Obviously if you don’t have the funds, join some free masterminds if you can.

The problem is that they may not be as organized as a paid one.

BEST ADVICE: If you can’t find a free mastermind, START ONE.

I’ve started several masterminds over the years and they’re great.

You can start a “local entrepreneur” mastermind. Those are great, because you can hang out in person.

You can start a mastermind in your niche, and do it on Skype or Google Hangout.


Here are 3 that I like:

1. Problem-Challenge Solution

This is probably the most common.

Also known as “hot seats”.

People share their biggest challenge and people offer them their best advice. These are great when you’re at a paid mastermind, because you’re usually getting the advice of high level experts.

2. What’s Working The Best

This is probably my favorite format. This is where people share their BEST advice. They reveal what’s working lately…

It’s a great opportunity to learn new tactics that you can apply to your business and make more money.

3. Learning Masterminds

I actually just started one of these lately, and I’m really enjoying it.

I invited 3 close friends and said: “Do you want to get together for 1 hour a week, and we’ll share our favorite information from a book that I read lately?”

I wanted to get back to reading consistently, and this was my best idea. There’s built in accountability.

The benefit is that everyone is curating content on 2 levels: the book selection, and their favorite sections or most impactful concepts.

Everyone’s been loving it.

I’ve seen masterminds that do a combination of all the above — which is probably the best format.

Paid masterminds are usually well organized and have a solid structure.

There also seems to be a correlation between the quality of participants, and the costs of the masterminds.

In other words, a $25,000 mastermind usually attracts higher level people than a $5,000 mastermind.

When are masterminds a BAD experience?

I’ve been to masterminds where the “main expert” barely delivered any value or advice. Just asked a bunch of generic questions, and didn’t really provide any specific tips that ended up working. This becomes more common as you become an expert marketer. Make sure you go to masterminds where the “expert” is smarter and more experienced than you.

When do masterminds go UGLY?

It’s rare… but sometimes the participants just don’t care. I’ve been at private masterminds where 70% of the guys had their faces buried in their computer and weren’t even listening to the guy speaking.

Are you freaking kidding me? How disrespectful is that?

Make sure you listen when people are on stage. People notice if you’re listening or not.


I have some close friends that went from NOTHING to having solid 6-figure businesses PURELY because they joined the right mastermind early in their careers… built great relationships with everyone, and then have been making 99% of their income from joint venture partnerships with these people.

Again: the key to their success is… they are COOL guys who are fun to hang with, and provide value as human beings.

In other words, they become good friends before they start asking to do a JV.

Too many marketers jump the gun when they meet people, and want to do a “JV”. I was guilty of this myself when I first got started.

Then I stopped worrying about JVs and just started hanging out with people, having fun and delivering value. It seems JVs flow a lot more naturally in those environments.

So make sure you go in with great intentions. Deliver more than you can ever take… Be the coolest guy you can be… Share everything you’ve got… And eventually the Mastermind will give you 10X more than you ever gave.

— Matt

4 Comments so far

KeithPosted on11:02 am - Jul 17, 2013

I totally agree with you.

Especially giving. Be free with your info in these private groups. It may be uncomfortable giving up your best info, but it will always return itself in ways that are unexpected.

Also, I’ve started low cost (3k/yr) masterminds and they quickly turn from progressive sharing of ideas to glorified Hangouts. Time is less than 2 yrs.

8k+ mm’s attract the right people and are well worth it if the vetting process to join is tough.

And lastly, I’m in 1 free local mastermind that’s more valuable in terms of participation and value than one 25k one that I was involved it.

Flavius RoscoePosted on11:17 am - Jul 17, 2013

My guess would be that a fitness mastermind group would have to explore cheese fries and lobster grilled cheese for some experimental purposes.

Mastermind groups can be awesome, back in the day we had some mortgage/real estate mastermind groups and we dominated just because of the diversity of everyone in the group.

My experience with mastermind groups as well as any other group is that there will always be leaders that shine through the group and delegate matters for the best of everyone. And, if a group is out for the good of everyone involved and the project projects value to the planet, and as long as everyone is taking action with the project, then they are likely to succeed.

On the flip-side I have been involved in groups where the participants are not participating and when this is the case, call everyone on it, or just go design another group of committed.



Marcus SPosted on9:28 pm - Jul 17, 2013

This is some great advice. I’ve been thinking of a way to help my closest friends reach new levels without, forcing my thoughts or information on them.

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