- Well that sounds boring
- 2021-05-04 08:01:25 (GMT)
- "lisa johnson" <email@example.com>
I know what you're thinking, -, but it isn't even passive
I've come to realise over the past 4 years that one of my favourite
things to teach and talk about is a subject I didn't even know existed
when I started. I know what you're thinking, -, but it
isn't even passive income or recurring revenue.
It wasn't until I started to get asked about how I hit the
six figure, then multi six figure, then seven figure and now multi
seven figure mark that I really understood what it meant to have a
proper understanding of the topic. I saw how I could break down to
others what it meant to have a multi revenue income stream whilst
still enjoying a work / life balance.
What is that topic? Let's say it together.... business models!
I promise I can make it interesting!
If we were to work together one to one (in person, remember when that
wasn't some weird future thing?), one of the first things I would do
is get a whiteboard and a pen and ask you to write down all of your
income streams, the revenue they generate and how much time they take
you in a month. We'd discuss how much you spend on generating that
revenue in marketing, staff, training.
We'd also talk about how many customers you bring into each revenue
stream via the marketing that you use. This brings us to some magic
numbers and we can see if it is viable to plan the scaling of those
services. And then we actually do the planning.
However, none of this is possible without the fundamentals of
understanding your business model. I spend whole in person days with
clients just to plan out how their perfect business model looks, but
just for today here are three things to get your thinking about how to
find the model that can work for you.
Firstly, you need to think about how you want your life to look.
Remember when I said we would look at how much time each revenue
stream takes out of your month? We do that because if a membership
that costs £20 per person on average for the 40 people that have
access is taking you 25 hours a week to run, to me that doesn't seem a
balanced way to make things work. Maybe you need to look at
streamlining how that looks in your business, or maybe you need to
support that funnel to make it 400 members in there rather than the
Secondly, how do you work best? Maybe you are really suited to one to
one work and that is where youe genuis lies. Therefore, you need to
support that with some completely passive products for those at the
start of their journey to begin working with you. Or, perhaps you work
best with a community, so the group model is going to serve you best -
you need to be happy showing up to work and if one to one work drains
you but that's all you are doing - you need to have a rethink!
Finally, you need to be giving your audience what they want. You might
have the best idea in the world, that would be perfect for you, but if
it isn't perfect for them then you aren't going to sell anything! It
might be scary to ask your people what they want from you, but it
makes total sense. Use a survey, or a poll, or even just tap some
ex-clients on the shoulder; what would they like to buy from you next?
Does that align with your values and points one and two? Then I
think - that you have your next idea right in front of
How are you enjoying these three things emails? Is there anything
about my business model that you would like to know? Hit reply and
tell me - hand on heart it is me, sat in my office (or somewhere
hotter if I get my way), reading and replying to every email I get.
Don't believe me? Just try it and see!
Back on Friday with some more learnings for you
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Lisa Johnson<br />c/o 10a High Street,<br />Chislehurst<br />Kent BR7 5AN<br />United Kingdom
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