Choosing the Right Business Model
Have you been going about your business the hard way? The answer is yes if you’re trying to implement every marketing strategy you come across and be on every social media platform there is. The answer is also yes if you’ve been signing up for a ton of online courses without understanding which one is right for you and trying to somehow keep up with them all.
Additionally, if you’re struggling to keep up every single day – because one person simply can’t do everything you’ve taken on, the answer is also yes.
But it’s ok, it can get easier.
Here’s my wish for you – and what this blog is all about:
- That you build a business that you love, both while you are growing it and for years to come (and not just the working with clients bit – I want you to love ALL of it!)
- To short-cut the inevitable “hard yards” that are involved in starting up a business so you don’t have to learn it all the hard way
- To do things that work for YOU so you can get clients now in ways that feel in flow – not just by doing things other people tell you to but that never quite feel true for you.
I’ve already shared the first 2 secrets to making this journey through the early stage of a business much easier. The first is Understanding the 5 Stages of Business, and the second is ‘Less is More of Marketing’. I encourage you to take a moment to read both those blogs and look out for the next blog, which will point you in the right direction for where to start that will make things easier for you.
But first, let’s unpack business models
For me, choosing the right business model is the real key to creating a business you love, and where so many people go wrong.
It’s about choosing the right business model 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.
What I talk about in this blog is SO important – yet nobody ever taught me this, I had to figure it out myself.
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”
Or the very opposite:
“You have to create a low cost monthly membership site if you want your business to be easy”
“Running live events is the only way to do it.”
“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. What can you change?
So, what is a business model anyway?
(And why is it 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:
This is how people find you in the first place.
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.
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 one-to-one, small groups or large groups? High-ticket and exclusive or affordable and accessible for all? Offline or online?
BUSINESS FROM THE HEART Membership – Opening Soon!
I love supporting small business owners with all the things I’ve talked about in this post. The main way I do this is through the Business from the Heart Membership.
This is a thriving community of heart-centred business owners, all committed to making a difference and growing a great business – without compromising their values. It includes mentoring and advice from me through regular coaching calls and hotseats, a library of trainings to help you keep taking action, mindset mentoring sessions, implementation days and online meetups and masterminds. We’d love to have you join us!
The membership will next be opening for enrolment from 22nd – 30th November
Click here to be notified.