Choosing the Right Business Model
Have you been going about your business the hard way?
If you’re trying to implement every marketing strategy you come across and be on every social media platform there is the answer is Yes. The answer is also yes if you’ve been signing up for a ton of different courses without understanding which one is right for you and your stage of business and then feeling frustrated when you don’t get the results that were promised.
The answer is also yes, if you’re struggling to keep up every single day – because one person simply can’t do everything you’ve taken on to grow your business.
But all is not lost – this can all get easier by choosing a business model that’s right for you.
I’ve already shared the first 2 secrets to making the journey through the early stages of a business much easier. The first is Understanding the 5 Stages of Business, and the second is The Less is More of Marketing. Today I’m focusing you your Business Model.
Let’s look at your business model
For me, choosing the right business model is the real key to creating a business you love, and it’s where so many people go wrong.
It’s about choosing the a business model that’s right for you – not just the one that’s been handed you by a teacher or expert because it happened to work for them.
We are all so different, that what works for one person doesn’t automatically feel fulfilling and rewarding for someone else.
When you start your business and first start looking around for help you will come across a lot of experts and teachers ready to tell you how to make your business work.
The problem is they all tell you different things:
“You should start running group online programmes or you’ll always be exchanging time for money”
But what if nothing lights you up like sitting and working intensively 121 with a client in your therapy room?
“Passive income is what you should be aiming for so you can work 4 hours a week and get paid on autopilot while you sip cocktails on the beach in Bali”
But what if you love working and are deeply fulfilled by the contact you have with your clients?
“You have to create a high-end programme if you want your business to work financially”
(I got caught out by this one in my first few years – I built a successful high-ticket mentoring programme, because my mentor told me it was the only way my business would work, but it didn’t light me up in the way my low-cost membership does).
Or you might be told the opposite:
“You have to create a low cost monthly membership site if you want your business to be easy”
Or
“Running live events is the only way to do it.”
Or:
“To get clients these days you have to market yourself online.”
As a side note: I get frustrated at how many people believe this to be true – it’s my belief that it’s actually easier to get clients offline when you are just starting out, and to prove it I’ve known lots of people become fully booked without so much as a website.
I guess what I’m trying to say here is that no one thing is ‘easier’ or ‘better’ than any other – they are just different.
They all have their upsides and downsides.
What’s really important is that you find the way of working that feels good for you and for the clients you want to work with.
Is there something in your business that just isn’t working for you even though someone else told you it would? Maybe it’s even working financially, but just doesn’t feel right? Maybe there’s something that needs to change.
What is a business model anyway?
(And why is choosing your business model so important)
To me, your business model is simply the path your customer takes from the moment they discover you for the first time, to actually buying and experiencing your products and services.
Here’s how I see it:
Marketing
This is how people find you in the first place.
Customer Journey
This is how you nurture and stay in contact with your customer from that first contact until they buy from you.
Conversion (aka sales)
This is the method you use to sell your programmes and services – that moment where the customer actually pays you money.
Delivery
This is how you deliver your work or transformation – whether that’s 121 or in groups, online or offline.
If you have a business where you love delivering to your clients but don’t enjoy your marketing, you’ll struggle to have the momentum to attract enough clients in the first place.
If you enjoy your marketing and sales, but find the way you deliver your work heavy or unfulfilling then again, you’ll find it hard to stay motivated and you’ll always have a feeling of “pushing” to get things done.
It’s important that you enjoy it ALL!
Luckily, there are so many different ways of doing all these things – marketing, nurturing, sales and delivery – that you’ll definitely be able to find the “sweet spot” that works for you!
PAUSE TO REFLECT
What intuitively feels like the right sort of business model for you?
Is it deep, transformative 1:2:1 work? If so, build your business around that!
It working with small, intimate groups?
Or large groups or memberships?
High-ticket and exclusive or affordable and accessible for all?
Do you want to be mainly online or offline?
All of it is possible – and YOU get to choose!
Discover your Next Step in Creating a Business YOU Love : QUIZ
Discover where you are at on my Business from the Heart Pathway. You’ll get insights into the challenges unique to your stage of business, the type of marketing that’s likely to be most effective at this stage, and the next steps to take to create a business you truly love.
Take the Quiz here
