I am thinking of launching a $250 monthly membership called The Power Circle with the only aim to help entrepreneurs get 1+ clients per month. It is a mastermind setting where 6-8 entrepreneurs with similar a biz goal (e.g. consistent 5k months) would come together twice a month for 60-75 min to mastermind about where they are stuck and need help, and what they are going to do till the next session. I would give them 2 quick homework exercises (5 min videos in the weeks that there is no session) each month that will be around taking action that is uncomfortable (such as reaching out to 5 people in their network and ask them if they want to learn more about their offer).
The mastermind sessions would be moderated by me (and later by other coaches) so that everyone gets a fair share and time is used most effectively.
There would be an accountability model built in the program so that members keep taking actions that stretch them.
They can cancel anytime but I believe that because of the group setting they will want to stay in their circle. And to reduce their fear I even want to offer them money back if they didn’t find it valuable in the first month.
My question is: is it a feasible business model with a relatively small audience (currently 1,600 in my FB group, 560 on my email list)? I want to up-sell some members into my 1:1 biz coaching or a high touch mastermind once they are in the program. My fear is that they get too much value from the Power Circles for very little money so that I should focus maybe more on selling them into a $2,500 mastermind in the first place (which I didn’t manage to do in the past though).
And if I were to offer the Power Circle membership, how could I make it even more irresistible in my marketing? Should I sell it to people from my audience through emails for example or host a free masterclass (series) and sell at the end? And for the future, is it likely that I can run ads, offer value maybe in a 10 min video, and offer them to join the membership right from there? Or always through a webinar/masterclass first when it’s a cold audience?
Thanks for your feedback.