Business models can be complex, but finding the right one for your goals can make or break your business… No pressure! Whether your business offers services, products, or coaching and consulting, there are so many ways you can approach your business model to maximize revenue without feeling burned out. In this episode, I’m wrapping up our revenue series by showing you how to use the info from the series to craft the best business model for you.
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Some key takeaways on finding the right business model:
There are lots of complicated explanations of business models online, but a business model is simply what you are selling, to whom you are selling it, and how you are delivering that thing to those customers.
The “who” is super important and will inform how much you can charge and what all you’ll need to deliver, as well as your overall capacity. For example, a premium interior designer might cater to only a few wealthy clients at a time, and therefore charge $100K for whole home designs that require an entire team and months to execute.
It’s okay to change business models over time, and to have diverse offers for your clients. As you plan for the time and money freedom you want to have, your business model should make it easier - not harder - to hit those goals.
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Listen to Episode 15: Calculate Your Monthly Baseline Revenue
I’m Sarah Young - a CPA, Virtual CFO, and the Owner of Young + Co! I have over a decade of experience in helping entrepreneurs scale their businesses and build wealth at the 6- and 7-figure levels, and I started the Profit + Prosper podcast to help you do the same. Profit + Prosper is a business finance podcast created to help entrepreneurs build their wealth in a way that’s fun and empowering. This is NOT a boring numbers podcast - I will share tactical tips to increase your profit so you can truly prosper in your business and in life. I hope you’ll subscribe so we can Profit + Prosper together!
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