Empowering Business Models
Your business model describes the way you do business. It involves your products and services, packaging and pricing, revenue generation, your target market, their needs, your solutions and the value you provide. Successful businesses use empowering models. How is yours working for you?
In this article I am going to focus on the aspect of a business model called revenue generation. This simply means how you provide value and solve your target market’s problems in a way that generates revenue and then profits. I am also going to slant things even further so that I am talking about how coaches, consultants, therapists, trainers, speakers and other solo-professionals generate revenue.
Today’s solo-preneurs are now serving one-to many instead of, or in addition to one-to-one. I still love traditional one-to-one coaching and mentoring. However, in the spirit of empowering both myself and my clients, I now offer these as premium packages. This is the way I can fully commit to supporting my clients and help them achieve results
Apart from serving one-to-many, today’s solo-professional is also incorporating multiple streams of income into their business models. This means they have several avenues for generating revenue instead of focusing on one core stream of income. See part 2 of this series for practical examples.
