Is Your Business Model Setting You Up For Success… Or Failure?

Every business has a business model, including yours! The question is, does your business model allow you to create incredible income while serving lots of your choice clients, or… not?

If you’re like most of these business owners, you started in business by hanging out your shingle and serving clients one-on-one.   Working 1-on-1 is the prevailing business model for self-employed service businesses, including spirit-rich, purpose-driven owners like coaches, metaphysical consultants, designers, and healers.

Trouble is, in the 1-on-1 business model, you’re always limited by one key factor: your time. When you’re out of time, you’ve also capped your income… and you’re overwhelmed and exhausted to boot.  Not good!

Luckily, the problem of 1-on-1 burnout is completely avoidable… with the right business model. A robust business model will grow with you (instead of breaking down), frees up your time, and creates generous income for you.  Best of all, the right business model helps you transform more lives while actually working less.

To help you get started shifting your business model from one that drains you to one that sustains you… and so much more, here are some quick tips taken from the proven business model planning system I share with my clients, The Profit Pyramid^TM….

Tip #1. Select your income streams. You’ll want a variety of income streams and price points, starting with freebies (articles, free teleseminar, mini audio courses, short video tips) all the way up to high-end offerings.  By creating offers at different price points, you’ll give many more people the opportunity to be served by your work AND create more opportunity to receive income for that transformation.

Bonus tip: Create your income streams using the “rinse and repeat” strategy. Start with one signature system – your expertise packaged into a step-by-step system that your clients can easily follow to get results.  (Examples: one of my signature systems is The Abundant Business System, another is Clients & Cash Flow Secrets.)  Then offer your signature system in a variety of formats, such as a teleseminar series, a 1-day intensive, a 30-day bootcamp, and more.  Creating a signature system and offering it in a variety of formats keeps you from burning out on creating new content and provides “readymade” income streams that you can tailor to your clients and situation.

Tip #2. Always know what comes next. Part of the beauty of a correctly designed multiple streams model is that it creates leverage – big results (income) through very little effort (your time, energy and money).  To get leverage, one stream of income must flow into the next, into the next.  The design can be summed up in a simple question: “What comes next?”

All too often, solo business owners create an offer, get a few clients, then complete the work… with no next step.  There is almost always an opportunity to serve your clients again – additional support, deeper work, solving a new problem.  Ask the question “what comes next?” after each offer and make sure you have a new offer to solve that problem.

Bonus tip: Know where 1-on-1 fits into your business model. Does creating multiple streams mean you have to give up the juicy 1-on-1 work you love?  No!  But you do need to know where it goes in your plan: your most exclusive, biggest ticket offers.   Your 1-on-1 time is of the highest value in your business – treat it accordingly.

Tip #3. Focus on your big-ticket (high-end) offer first. One of the biggest mistakes entrepreneurs make when getting started with multiple streams of income, passive and leveraged income is… they spend waaaay too much time on freebies and lower-end offers.   They spend all their time on “the small stuff,” run out of clients & cash… then panic.

Instead, focus on the offers that will bring in immediate income first, such as a well-designed higher end program or VIP mentoring day.  Note that this might mean getting a little uncomfortable, as it involves reaching out to clients, having a conversation and asking for the business.  Remember, you help no one when you hide your light under a bushel!  When you come from a place of true service, your clients will appreciate your sincerity and are much more likely to say yes to your offers.

When is the best time to implement the right business model?  Right now! Even if you’re brand new in your business, now is the time to put your multiple streams of income business model in place.  Your multiple streams business model is critical to creating the impact and income you want while maintaining time and financial freedom in your life – don’t put it off!

Want  step-by-step instruction and my personal help on creating your own Profit Pyramid^TM, Signature System and high-end offers? I’ll coach you through each of these topics in depth when you join me for my next group training, The Abundant Business Marketing & Manifestation Mastermind, starting in February.  But HURRY – space is strictly limited and spots are filling fast. Get all the details and reserve your place here: http://www.6figuresoulbasedbusiness.com

© 2009 Elizabeth Genco Purvis.  All Rights Reserved.

Elizabeth Genco Purvis, “The Marketing Goddess” teaches spirited solo business owners and conscious entrepreneurs how to attract an abundance of clients, income, freedom and satisfaction in their business while staying true to their values.  Visit MarketingGoddess.com to claim your copy of “Grow Your Business With Spirit And Soul,” a 7-part audio workshop with everything you need to begin attracting more clients right away.