A recent client of mine developed a wonderful business
model. I won't give away the kernel of his amazing system,
but I will describe the principles that make it work.
1. His business has a very low start-up cost. Most
professionals are surprised at the high costs of equipping
an office and launching a new business, and start out under-
capitalized. My client developed a business that can be set
up for around $20,000, so he can afford to do it right and
create momentum from the very beginning.
2. His products are low cost, quickly consumed, and
standardized. In other words, he makes lots of repeat sales.
Think McDonald's restaurants, gas stations, or dentists. His
customers appreciate the predictability and reliability, and
when they need more, they come back and make repeat
purchases. The cost of sales goes down, while volume and
profits go up. Good system!
3. Finally, because the business is modular, he can easily
duplicate himself. Once the bugs are worked out, he can
either establish more offices and hire people to run them,
or franchise the idea, or follow a number of other plans.
The key is duplication.
Unless you can duplicate yourself, no matter how well you
are paid and how fancy your title, you are basically working
for wages. A surgeon may earn thousands of dollars per hour,
but she only gets paid when she operates.
To increase your earnings, duplicate yourself. Find a way to
"modularize" (is that a word?) your business model and let
other people make money helping you make money. You really
can't do it all yourself!
The key to duplicating yourself is coaching. You may need an
attorney to write contracts or obtain licenses, but you'll
need someone to help you design the initial structure. To
build your business and duplicate yourself, work with a
professional coach!
model. I won't give away the kernel of his amazing system,
but I will describe the principles that make it work.
1. His business has a very low start-up cost. Most
professionals are surprised at the high costs of equipping
an office and launching a new business, and start out under-
capitalized. My client developed a business that can be set
up for around $20,000, so he can afford to do it right and
create momentum from the very beginning.
2. His products are low cost, quickly consumed, and
standardized. In other words, he makes lots of repeat sales.
Think McDonald's restaurants, gas stations, or dentists. His
customers appreciate the predictability and reliability, and
when they need more, they come back and make repeat
purchases. The cost of sales goes down, while volume and
profits go up. Good system!
3. Finally, because the business is modular, he can easily
duplicate himself. Once the bugs are worked out, he can
either establish more offices and hire people to run them,
or franchise the idea, or follow a number of other plans.
The key is duplication.
Unless you can duplicate yourself, no matter how well you
are paid and how fancy your title, you are basically working
for wages. A surgeon may earn thousands of dollars per hour,
but she only gets paid when she operates.
To increase your earnings, duplicate yourself. Find a way to
"modularize" (is that a word?) your business model and let
other people make money helping you make money. You really
can't do it all yourself!
The key to duplicating yourself is coaching. You may need an
attorney to write contracts or obtain licenses, but you'll
need someone to help you design the initial structure. To
build your business and duplicate yourself, work with a
professional coach!
No comments:
Post a Comment