Tweet

Could Your Business Model be More Profitable?

Guest post by: Jan Marie Dore

Article Overview: When I first started providing business coaching services, I followed the time for money model that all coaches at that time were trained to use. I charged a monthly fee for two hours of time with me every month.

Could Your Business Model be More Profitable?

When I first started providing business coaching services, I followed the time for money model that all coaches at that time were trained to use. I charged a monthly fee for two hours of time with me every month.

That worked well while I was in start-up mode. But, it stopped working so well when I reached a full practice. I ran out of the time and energy I needed to add more new clients and additional income. I started to realize there was a cap on my profits.

I could see only three options: either work harder and longer hours to increase my income, or raise my rates, or settle for a less than satisfactory income level.

I chose to raise my rates. I was too timid to go back to my current clients and tell them I wanted more money, so I just increased my fee for new clients. That worked all right for quite a while, and I was content with a decent hourly rate and a full roster of clients.

It wasn't until I started learning about different business models that I realized I had been in my own little world of not knowing there were other options for me to have a much more profitable business.

It wasn't until I implemented a new business model and leveraging strategies that I was able to bring in the kind of income I wanted to make. The knowledge of new business models and ways to leverage my time and energy was the foundation for my being able to even imagine making six figures or more.

I made the shift from professional practitioner to business owner first by branching out into multiple streams of income - such as group coaching programs, workshops, training and speaking, and then creating a line of information products. Over time, I discovered additional leveraging models, such as the membership or association model.

Now I know that there are many ways to structure your business so you can move away from trading all your time for money and enjoy much more income and freedom in your business. If you’re not bringing in the kind of money you want, your business model and service delivery systems are the first places to look. The business models and systems ideas are almost endless so you can attract more clients and make more money without working so hard. I teach those newer models to all my clients. I love showing women how to shift away from trading all their time for money and implementing systems to leverage what they know into multiple streams of income.

Is your business model set up so you can bring in more money with less effort? If not, here’s what to do. First, look for ways you could deliver your services to multiple people at one time. Or, consider raising your rates by packaging your service delivery in different ways that provide more value without taking more of your time. Or, if you have a proven program or signature system, licensing or selling your home-study system might be another option for you to consider to increase your income to the level you want.

Think out of the box with creative, innovative ways to deliver and leverage your existing services, and watch your income start to soar!



About Author: Jan Marie Dore teaches women entrepreneurs and professionals marketing and sales strategies to attract more clients, grow their business, and create profitable new income streams so they can make more money in less time.

Related Articles
  Be Your Own Boss! ~FOR SERIOUS ENTREPRENEURS...SECRETS TO WEALTH
  Reselling Your Franchise
  The Main Advantages of Online Businesses over Offline Businesses
  Internet Business Model
  The Most Well-Known Internet Business Model - The MLM Industry
  MLM Business Model – The Most Well-Known Internet Business Model
  Franchise Resales
  Assessing a Business Model
  Is Your Business Model Healthy?
  Attention Franchisors and Franchisees: A Successful Franchise Shouldn’t Require Extraordinary Performance
  Business Model vs Business Plan
  Is it Ethical for a Franchiser to Sell his Concept as a Franchise?
  Is Your Internet Marketing Business Profitable?
  4 Tips for Finding Profitable Work at Home Opportunities
  What to look for when considering an internet franchise business, and other business model options.
  How to Start a Franchise Company
  Why Choosing The Right Membership Model Is Critical To Business Success
  Challenges for the Indian BPO firms
  GPT - The Most Profitable Model For 2010 & Beyond
  Could you pull a Radiohead?

Article Tags: marketing strategies, marketing strategies for small business, marketing tips, marketing tool, small business advice, small business coaching, small business marketing, small business sales



Related Forum Posts
Re: Franchise 'due diligence' checklist - One of the things I focus on is this: Does the Franchise fit the Business Model you are interested in? Meaning, are you going to be doing what you want to do on a daily? For example, if you are a restaurant manager now and you hate your job because of the hours, then don't buy most food franchises. You have experience of course, so it is more comfortable, but you will basically be doing very similar duties and hours as you were before. I always go through a series of questions, answers, more questions, more answers etc... to help my clients figure out what Business Model they are most interested in, I do this before even discussing a single name with them, they tell me what the business model is and then I match them up to that type of business, explain the entire business model as best I can and then and only then do we discuss the name of the company. Too many times people come to me wanting to own "abc" name brand franchise, when they don't even understand what type of business it really is and what they will be doing every day.
My entry - 1. The Best Business Books Ever: The 100 Most Influential Business Books You'll Never Have Time to Read - this is a fascinating book about the history of Business theory, and I'd recommend it to anybody. 2. The Big Book of Small Business: You Don't Have to Run Your Business by the Seat of Your Pants, by Tom Gegax. Ditto. 3. PADI: The Business of Diving Book Okay, so this book won't be of use to anyone who doesn't want to start a scuba store, but I did, and this book was of course invaluable to me in reaching that goal.
Patent Walk-Through - Hello everyone! My name is Alex, I'm 18 years old and I'm constantly drawing up new ideas and inventing stuff. I sketch stuff down everywhere I go and on anything I can write on. I'm a big member of our local Future Business Leaders of America chapter (FBLA). In the future I hope to work my way up to being a Venture Capitalist. I think of myself as a pretty creative person who is very motivated. Some of the ideas and inventions I come up with are pretty far out but others I consider marketable and to have great potential. Being 18, I have little to no connections and no resources. I've been surfing this site pretty frequently for the last year and have finally decided to join the forum group. Anyway, here's my question... Basically, I have no idea how to get a patent together the costs and the overall process. As of now, I think I have a great idea that, as far as I know has not, ever been done before. I'm really excited about this idea. I'm a total novice at this and am willing to learn all that I can. Any information that you can provide me with would be great. Again the main things I want to know are: 1.Overall Process. 2.How Long It Takes. 3.Costs. 4.Anything That You Think I Should Know. 5.Tips/Experiences. 6.Confidentiality. 7.Must I Make A Physical Model of My Idea? Thanks guys! -Alex
Exclusive: Interview with Results - Hi Forum Members, I'm helping start up a Business Coaching and Consulting company here in Toronto, Ontario, Canada (a Subsidiary of RSC Business in Los Angeles). As a Research and Development Intern I am required to practice my listening and interview skills by surveying Small and Medium Businesses on thier Business. This Survey is designed by RSC Business to also assist the Business being interviewed more insight into their own business. I am looking to interview about 30 businesses across North America over the span of 3 months. At the end of these interviews I will be publishing a report of the results and they will be made available for free to the Interviewees. The Report data will include responses from a minimum of 100 interviews. I would like to extend this opportunity to members of the Forum. If you would like to have this short 20-30 minute interview conducted on your Business and you reside in North America please send me an email or PM. Please contact me at andy[at]jvprosperity[dot]com to arrange our interview and to get free access to the results when they are published.
Re: HOw to market a B2B consulting company - [quote="zohahunt77":428owzbi]Hi, I was wondering if anyone can tell me the difference between B2B and B2C. I don’t know about b2b marketing but I have done marketing so know things about it. I will suggest you to take online services which will spread your business all over web network. Online marketing is the best way to market any business.[/quote:428owzbi] B2B = Business to Business - You are marketing to other businesses. B2C = Business to Consumer - You are marketing to consumers.


Share this article with your friends. Fund someone's dream.

Leave a comment below or share on the left and you'll help support entrepreneurs in Africa through our partnership with Kiva. Over $50,000 raised and counting - Please keep sharing! Learn more.

Newsletter

Get advice & tips from famous business
owners, new articles by entrepreneur
experts, my latest website updates, &
special sneak peaks at what's to come!

Name:
Email:

Popular Articles

Environment and productivity at the office

3 Health Insurance Misconceptions

Good News Travels Fast

Suggestions

Email us your ideas on how to make our
website more valuable! Thank you Sharon
from Toronto Salsa Lessons / Classes for
your suggestions to make the newsletter
look like the website and profile younger
entrepreneurs like Jennifer Lopez.