If you'd like to experience more freedom and creativity in your life, keep your business model simple.
What I share in this post is a generous and simple business model -- so simple that some people wouldn't call it a "business model"... maybe a "simple livelihood model" is a better phrase.
This encompasses my 8 years of experience with a variety of monetization models, including...
* selling online courses
* enrolling people into monthly-membership sites
* earning a majority of income from affiliate/JV marketing
* offering mastermind programs
* getting paid to speak online and offline
* creating a multi-level marketing opportunity
* offering paid webinars
* doing good ol' 1-1 coaching.
I've seen too many wisdom-based entrepreneurs / infopreneurs unnecessarily complicate
their businesses by attempting to scale up, or to create a "passive income stream" too quickly.
From more than a decade of pursuing different ways to "make money while I sleep", I can tell you that 99% of money-making-opportunities are either scams, or making bigger promises than they can keep.
Wishful thinking -- and buying programs/formulas from the "6-figure / 7-figure" marketers -- has wasted a great deal of money and time, and caused a lot of "failure", disappointment and self-blame.
Here is the simple, generous, livelihood model that I now recommend...
There are 3 parts to this model:
1. One-to-One services (such as coaching, counseling, consulting)
2. Group Experiences (such as offering an online workshop)
3. Free Content (such as my videos & blog posts)
For purposes of illustration, let's say that we are aiming to earn you $5,000/month using this simple business model.
PART 1. One-to-One Services.
Imagine simply having 20 clients paying you $250/month.
That would equal to $5,000/month.
Let's say you charge $125/hour for coaching, counseling, or consulting. Meeting with each client 2x a month, 1-hour each time, is a reasonable and common model. You would therefore be seeing each client 2 hours monthly, for $250/month.
Alternatively, you could see each client 4x a month (approx. weekly) for 30 minutes each meeting, for the same rate. Again, we're keeping it simple.
With this simple model, you'll be earning $5,000/month, and spending just 10 hours a week with clients.
Let's say you're happy to work 20 hours a week (which is far less work than most people earning $5,000/month!)... considering that you have 10 hours a week with clients, that would then give you an additional 10 hours a week to follow up with clients, to connect with prospective clients, to create and share content, and do admin stuff in your business.
Could you get 20 clients to pay you $250/month for your services?
Chances are, you already
know 20 people now. Look for them in...
... your phone book
... your warm contacts in your email address book
... the people you know on Facebook
... your LinkedIn network
... anywhere else you engage with people online (e.g. various online groups)
... anywhere you engage with people offline (e.g. church, classes, events, volunteering, groups)
Some people you know could directly be great clients for you. Or, you probably know 20 friends, family, or colleagues who could each introduce you to 2-3 others that might become clients for you.
PART 2: Group Experiences
Imagine that each week, you teach/facilitate one 2-hour online workshop, using www.Zoom.us
, for just 50 participants each time, and you charge an affordable $25 per person.
As word of mouth & popularity spreads about your workshops, you can increase your workshop fee. For now let's keep it simple to $25.
$25 x 50 registrations = $1,250 per workshop.
$1,250 x 4 workshops a month = $5,000/month.
Let's say you're willing to work 20 hours a week. You would be spending 2 hours a week teaching the workshop. That leaves you with another 18 hours each week to...
* prepare the content & exercises for the workshop
* answer questions from prospective attendees
* set up the logistics (registration & payment, reminder emails)
* follow up with participants (give them materials/links, answer questions, etc.)
* create & share free content (see Part 3 of the model below)
* other admin stuff for your business (emails, bookkeeping, etc.)
Again, you'd be earning $5,000/month for working 20 hours a week. You'd be making a difference in people's lives, and doing something you enjoy!
Now that you know the 1-1 model and the Group model, you can mix & match, e.g.
10 clients at $250/month + 2 workshops a month earning $1,250 per workshop
PART 3: Free Content
This is really the "generous" part of this livelihood model. But not only is it generosity, you are developing yourself and your business too.
Creating & sharing free content has so many benefits, including:
1. Giving you lots of practice to develop & deepen your message, and get better at delivering it.
2. Attracts ideal clients to you, and makes it easier and easier, over time, to fill your 1-1 practice, or to get workshop registrations.
3. Legacy. The wonderful thing about sharing your free content on free platforms such as Facebook or Medium.com is that even after you pass on from this life, you'll be blessing people forever with the wisdom that you shared. I really think of my content as a "cause" -- I feel urgent to share my best wisdom & experience with the world, while I am gifted with being alive today.
For my best free guidance on creating & sharing content, see here: https://www.georgekao.com/blog/module-1-content-creation-distribution
By following this livelihood model, your reputation will keep growing over time -- through your content, as well as your increasingly-excellent 1-1 services and/or workshops. You'll have an easier and easier time getting clients and students.
The simpler your business/livelihood model, the more time and energy you will have to -- explore your interests, to read books you love, to watch the videos broaden your knowledge, to meet & connect with kindred spirits, to enjoy nature, to deepen your spiritual practice, and get involved in causes that energize you.
If you like this model, get started now.
As always, I welcome your comments, examples, and questions.
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