Posts Tagged ‘business model’

So, what IS your business model? Every business has one, including yours.  The key here is does your business model pump you up or suck the life out of you?

If your model is based on your time, then I am here to tell you it’s sucking the life out of you. If not, well you are on the right road to a profitable, happy business.

Unfortunately, most self-employed business owners have adopted the 1-on-1 model and no other. Problem is, with this model you’re always limited by one key factor:  your time. When you’re out of time, you’re not making money and you’re exhausted and frustrated too!

The good news is that you can completely eliminate the 1-on-1 frustration by redesigning your business model the right way! A great business model ensures that you have plenty of free time, creates great income for you even while you sleep and grows with you not against you.  You work less hours but make more money!

So in order for you to start shifting your business model from  a life sucking 1-on-1 model to a model that pumps you up, I’m sharing some simple tips from my proven business model system I teach my clients using the marketing pyramid…

Tip One:  Don’t Put All Your Eggs In One Basket

When working with new clients one of the first things that we evaluate is how to create multiple streams of income so they are NEVER reliant on just one.  We create several different options and price points so that more clients can be served AND for them to receive more ways to be compensated for the work they do.

Creating income streams is easier than you think if you use the repurposing method.  You have a signature system you take your clients through which you can repurpose into several different formats.  For example, you can offer a teleseminar, Virtual VIP Retreat Day or other product.

By creating this signature system and offering it in a variety of ways it provides you with income streams you can tailor to your clients and helps you from getting burned out by having to develop new content all the time.

Tip Two:  Design It Correctly and You Will Always Know What Comes Next

When you design your business model correctly it creates leverage – the kind of leverage that gives you big results with very little effort of your time, energy or money.  To get this great leverage you must design your model so each income stream flows into the next.

When you fail to create your business model so that each stream flows into the next you have a scenario that looks like this:  business owner creates an offer, gets a few clients, and completes the work…with no next step.  There are countless ways to serve your clients again and again.  Just keep asking yourself “what’s next” and you will be able to create the next offer with ease.

Tip Three:  You Don’t Need To Give Up 1-on-1 Work

Just because you have created multiple streams of income which allows you to serve more people doesn’t mean you have to give up 1-on-1 work.  You just need to know where it falls in your business model.  This is your most valuable, exclusive, highest ticket offer so treat it as such.

Tip Four:  Focus Your Time On High-End Offers First

Focus your attention on your highest priced programs or services first so that you don’t run out of cash!  Most new entrepreneurs make the mistake of focusing on free offers and low-end programs first and then find themselves out of clients and out of cash – which by the way is a sure way to leave you panic stricken.

The best time to redesign your business model is today. No time like the present to design your multiple streams of income business model.  So don’t put it off another second!  Your financial freedom is waiting!

Imagine this for a moment…you are a new business owner and are at an event where you can learn from some seasoned entrepreneurs.  Someone asks you for your elevator pitch, you spew out a bunch of blah, blah blah leaving everyone in the room dazed and confused.  Someones says: “Who is your ideal client?” and you respond, “Everyone!” with great enthusiasm.

Oh boy!

Sound familiar?

I attend an event very similar to the one I described just the other day.  Although everyone I met had very different issues, the one thing that they all had in common was how unclear they were about where they were going and how they were going to get there. They were unsure who their target market was and more importantly they didn’t express how they helped their potential clients.

What did they lack?

Clarity!  That’s right…clarity!

Without clarity in any given situation its like being lost at sea with no land in sight.  You drift aimlessly around the water’s of confusion in the hope that something will trigger you to move in one direction or the other.  Now you may finally figure it out on your own but I know one thing for sure that going it alone without the support of a mentor or coach will definitely take you  a lot longer to find the direction you are seeking.

Just like the business owners I met the other night, I too lacked clarity when starting my business.  Once I got really clear about what business model I wanted to adopt  my business started to take off!  I got  help from a great coach and mentor which made all the difference.  I stopped wasting my valuable time and instead started focusing and producing the kinds of results that I wanted in my business.

So if you feel lost in that sea of confusion, not sure how to develop your business so that it is fun, authentic and lucrative find a coach who can help you sift through it all and lead you towards a plan that makes sense AND makes you money.