Something that might catch you off-guard when you start your own online mastermind group is how many people have never heard of the concept.

I have to admit, when I attempted my third retirement in 2010, and Dave Ramsey and Dan Miller talked me out of it, I only knew about our business mastermind, the Eagles. It never occurred to me that there were hundreds or thousands of groups online. I started my next career with one-on-one business coaching services, for just two clients.

Coaching proved difficult to scale, however, and I’m not the type of person to have a small, local operation that only serves a handful of people. Whatever business I’ve ever done, it’s always scaled. I do multiple locations, I hire lots of employees and I always have my eye on providing more value to more people.

Still, a lot of people don’t really understand the idea. They’re even less certain of how to own and operate a mastermind business. I want to point...