Do you know what your business model is? More specifically: can you tell me exactly how many customers you need and what products they need to buy in order to reach your business profit goals?
One of the biggest mistakes I see business owners making is melding too many business models into one.
The problem with “too many” models:
It creates confusion in their marketing and an inability to generate revenue.
Here’s an example of what I mean… Let’s say you aspire to have a six-figure business… Do you want one customer to pay you one hundred thousand dollars, or do you want one hundred thousand customers to pay you a dollar?
There is a big difference between the two models. Huge, really. One business model is value-based, while the other is volume-based. One is based on serving a very specific buyer, and the other serves a very large audience.
You need to know what business model you’re in.
- Maybe you’re in a retail business and you need to sell “X” number of widgets per day to reach “Y” in sales every month.
- Or maybe, you’re a coach who needs “X” number of coaching clients per year to reach “Y” in sales.
- Or, you’re into online programs and you need “X” number of people to buy your program to reach “Y” in sales.
Your problem isn’t your niche or market.
Each model above can be ONE focused method you use to attain results in your business – with specific and highly directed marketing. Here’s the problem: if you’re trying to sell all THREE of these things simultaneously – chances are – you’re failing to get traction in any of them.
If this is you, let me be the first to tell you: you need to rethink and focus your model.Your problem ISN’T your niche or market. You need to RETHINK and FOCUS your business model. Click To Tweet
Business Model Clarity
This is why clarity around your model, how much money you want to make, your message and marketing matters. This year at Money, Mindset and Marketing, we are focusing on making money – and how to make that money.
We’re going to break down the numbers, find the leaks and build your model back up.
Don’t be afraid of the math. You need to know exactly how much you’re making and how much you need to make. Knowing your business model will inform all areas of your business, and that matters.
If you want to learn how to do this, join us at #MMMEvent. You’ll also learn how to double your sales with a focused, strategic plan – in 18 months.
Founder and CEO of the Lisa Larter Group, master strategist, author, speaker, podcast host, social media expert, consultant, and business coach. Lisa inspires entrepreneurs and business owners to see the possibilities for their organizations when it comes to strategy. She uncomplicates modern marketing and creates (and implements) strategies for businesses that are guaranteed to increase visibility, inbound leads, and revenue.