Beginner Maps Hosting masterminds that lead to a ridiculous retention rate
May 27, 2024
Ryan Wardell, CEO and cofounder of Startup Sauce, shares insights from his thriving community for SaaS founders. He dives into the magic sauce behind successful masterminds, highlighting the importance of pairing members and fostering genuine relationships for higher retention rates. Ryan discusses effective community-building strategies, including strategic pricing and establishing membership thresholds to enhance member quality. He emphasizes creating a comfortable environment for introverts and shares innovative tactics for engagement and collaboration.
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Mastermind Calls Spark 'Aha' Moment
- The mastermind calls are the 'aha moment' where members truly see community value.
- Connecting busy SaaS founders to smart peers with similar issues drives retention and engagement.
Perfect Mastermind Group Size
- Keep mastermind groups small: 4-6 people and a facilitator for effective discussions.
- Match groups by problem space, business model, and availability to foster valuable peer learning.
Draw Out Quiet Participants
- Facilitate quiet or introverted members by personally inviting them to share insights.
- Build confidence gradually so shy members become active contributors over time.