If you want to build a lifestyle that is comfortable and still gives you time freedom, it’s important to know how you can scale your business without spending more time on your business.
I spoke on the topic of Leveraging your expertise on a recent FB Live. Did you see it?
Let’s dive into the third business model that I shared.
Coaching and consulting are the most popular business models to get into for someone trying to earn money on their expertise.
However, the way some people do it ends up being very limiting because you’re only one person.
For that matter, any time you offer services directly to your clients, it can be income limiting due to only having so many hours in the day.
But no worries, you can overcome it and leverage your expertise in a way that scales.
Typically, a coach or consultant will work with individuals or companies directly to help the people with one problem that they are known for.
For example, an individual might hire a life coach to help them with parenting issues, such as getting their three-year-old son potty trained. Or maybe the parents want more help and guidance on getting and staying organized.
Whatever it is, a coach can help guide the person through a process they created to help solve the problem that exists.
Consultants generally work with companies and do the same thing but usually use classroom time to work with a small group at one time during company time.
As you can see, when you do this type of coaching and consulting, you have very limited income potential due to the time factor.
One way to overcome this problem is to add:
- Online Workshops
- Online Self-Study Courses
- Group Coaching
- Mastermind Retreats
- Membership Community
- Large Venue Public Motivational Speaking
- High Level in Person Workshops & Retreats
- VIP One-On-One Coaching
Each of these ideas should cost progressively more money for the individual or company owners, costing more as your personal direct time investment grows.
When you organize your business in this way, you can work with far more people than you can if you stick to only a one-on-one or one product-one service pricing model.
You can also charge less for group coaching and much more for one-on-one coaching, which will also increase your income due to being free to help more people.
Once you’ve chosen one or more of these ideas, you’ll want to automate as much as you can by using technology in a strategic way.
For now, let’s get you moving into defining your Profit Pyramid so that you can leverage your expertise. Work less…Make more.
(Don’t forget to get your downloadable template of my Profit Pyramid) and watch the replay of the FB Live training on this topic above.