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How do you build up your business model?

by FitMarketer
12 replies
Hi Warriors

My question is how would you go about building up your income and business model?

I am a relative newbie here on the forum but have been marketing online for a few years now

I am now bringing in a couple of grand a month selling my services but my questions are how would you build up this business model?

My goal is $10K per month

Help Warriors how would I build up to this
#build #business #model
  • Profile picture of the author JasonAaron1
    Originally Posted by FitMarketer View Post

    Hi Warriors

    My question is how would you go about building up your income and business model?

    I am a relative newbie here on the forum but have been marketing online for a few years now

    I am now bringing in a couple of grand a month selling my services but my questions are how would you build up this business model?

    My goal is $10K per month

    Help Warriors how would I build up to this
    Hi FitMarketer,

    Would you care to share what your current business looks like. As in, what kind of services do you offer. That might help us give you some input on how to scale it up.
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  • Profile picture of the author FitMarketer
    Hey Jason,
    I offer done for you website service solutions. Building up mini niche businesses for people.

    I have done this both online and offline but want to build it further.

    Hope that makes sense
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    • Profile picture of the author JohnMcCabe
      To scale up a service business, you have three choices:

      1. Find a way to sell more of your services.

      2. Find a way to charge more for your services.

      3. Some combination of 1 and 2.

      #1 suggests a combination of automation and outsourcing. #2 may require repositioning your service and/or finding a target market that can/will pay higher prices.

      Pretty vague, I know, but it should give you some starting points to ponder.
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      • Profile picture of the author FitMarketer
        Thanks John,

        These are definatly good points and have given me something to ponder on.

        I think the second point is definatly valid to me.

        Originally Posted by JohnMcCabe View Post

        To scale up a service business, you have three choices:

        1. Find a way to sell more of your services.

        2. Find a way to charge more for your services.

        3. Some combination of 1 and 2.

        #1 suggests a combination of automation and outsourcing. #2 may require repositioning your service and/or finding a target market that can/will pay higher prices.

        Pretty vague, I know, but it should give you some starting points to ponder.
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      • Profile picture of the author JasonAaron1
        Originally Posted by JohnMcCabe View Post

        To scale up a service business, you have three choices:

        1. Find a way to sell more of your services.

        2. Find a way to charge more for your services.

        3. Some combination of 1 and 2.

        #1 suggests a combination of automation and outsourcing. #2 may require repositioning your service and/or finding a target market that can/will pay higher prices.

        Pretty vague, I know, but it should give you some starting points to ponder.
        Exactly...and the "combination of 1 and 2" could also mean adding complimentary services to what you are currently doing. For instance, a web designer may also offer hosting, or graphic design, or SEO, etc. You may already do some of these, but I would look for ways to add value that also give you residual income even after your initial service is complete. Hosting is the best example because the client will be paying this to someone every month, so it might was well be you.

        Just my thoughts...

        Jason
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        • Profile picture of the author FitMarketer
          Originally Posted by JasonAaron1 View Post

          Exactly...and the "combination of 1 and 2" could also mean adding complimentary services to what you are currently doing. For instance, a web designer may also offer hosting, or graphic design, or SEO, etc. You may already do some of these, but I would look for ways to add value that also give you residual income even after your initial service is complete. Hosting is the best example because the client will be paying this to someone every month, so it might was well be you.

          Just my thoughts...

          Jason
          Thanks Jason
          Some great advice here. I already offer a SEO service but it doens't convert very well.

          I will look into perhaps upselling more on that front
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        • Profile picture of the author RuthRNM
          The problem with selling services, in my experience, is that there are obviously only so many hours in the day. If your whole business relies on selling your time, you're going to reach a point when you burn out.

          Is there anything that you can add to your business that you can create once and then continue to reap the benefits of? For example, could you offer a member's site for a small monthly fee for those who buy your services, where you do a monthly webinar or several articles/guides about getting the most out of a website - perhaps support with DIY SEO, that's much cheaper than using the services of an agency or a freelancer? Or perhaps an online course that guides them through the process?

          Obviously you'll know your target market a lot better than I do, so you might already have ideas about what you can offer in this sense.

          Hope this helps
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          • Profile picture of the author FitMarketer
            Originally Posted by RuthRNM View Post

            The problem with selling services, in my experience, is that there are obviously only so many hours in the day. If your whole business relies on selling your time, you're going to reach a point when you burn out.

            Is there anything that you can add to your business that you can create once and then continue to reap the benefits of? For example, could you offer a member's site for a small monthly fee for those who buy your services, where you do a monthly webinar or several articles/guides about getting the most out of a website - perhaps support with DIY SEO, that's much cheaper than using the services of an agency or a freelancer? Or perhaps an online course that guides them through the process?

            Obviously you'll know your target market a lot better than I do, so you might already have ideas about what you can offer in this sense.

            Hope this helps
            Hey Ruth,

            Thanks for your advice. This will be a great way to build up my income.

            Brain is buzzing now after reading some of these responses. Need to get my thinking cap on!
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  • Profile picture of the author stoltingmediagroup
    I was about to touch upon the topic that RuthRNM covered above. It's the main reason why close to a decade ago I decided to build a company that is able to scale up easily by selling products v.s offering services.

    If you are currently earning let's say, $2000 a month, then you need to realistically have a look at what your day looks like right now, and how much free time you have at this point. If you find that even at the $2000 level you are cutting it close to insanity, then a goal of earning $10000 is probably going to cause you some serious health deterioration....UNLESS....,

    you can start learning how to hire train and outsource to others, while keeping your companies quality standards intact. What you really need besides asking here, is to find a coach who has experience in scaling your type of business. As this will involve some more detailed learning and implementation in order to make it happen.
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    • Profile picture of the author FitMarketer
      Originally Posted by stoltingmediagroup View Post

      I was about to touch upon the topic that RuthRNM covered above. It's the main reason why close to a decade ago I decided to build a company that is able to scale up easily by selling products v.s offering services.

      If you are currently earning let's say, $2000 a month, then you need to realistically have a look at what your day looks like right now, and how much free time you have at this point. If you find that even at the $2000 level you are cutting it close to insanity, then a goal of earning $10000 is probably going to cause you some serious health deterioration....UNLESS....,

      you can start learning how to hire train and outsource to others, while keeping your companies quality standards intact. What you really need besides asking here, is to find a coach who has experience in scaling your type of business. As this will involve some more detailed learning and implementation in order to make it happen.

      I will definatly look into the outsourcing route.

      I currently work 5 hours a day but am pretty full the rest of my day with the kids and family so haven't got that much more time I personally can put into the business
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  • Profile picture of the author rmolina88
    Are you building a list whenever you work for a client?
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