No matter how successful you are in your business, there is only one of you. Meaning that on any given day you only have so much time in that day, so if you can’t clone yourself, there is only so much you can do and only so many people you can serve which also means there is a limit to how money you can make. However, there is a way you can generate more revenue in your business without spending any more time IN your business. That is in your understanding of how to do what I call making money while you sleep.
When I say this to most entrepreneurs, they don’t think this is possible. Like, take for instance, Deborah Tillman, America’s Super Nanny on Lifetime TV. When I met Deborah, there were more parents that needed her than the number of hours she had in her day. And when I began to work with her and coach her to create a way that she could serve all that needed her without adding any more hours into her day, she simply thought it was impossible.
The answer is really quite simple. By defining what you do into what I call a FIERCE Formula. As an entrepreneur, whether you are one year into your business or have been doing what you do for 15 years, I am sure you have discovered that most clients come to you looking to buy a solution to their problems, wants or needs. They come looking to get to a result, so, rather than trying to sell them your time via a one on one coaching or consulting program, if you took what you do and packaged it into a FIERCE Formula it would expand your capacity and give you several ways you can serve your clients.
Now here’s the exciting part, once you create a formula from your intellectual property it allows you to create multiple revenue streams from it. See it is understanding the fundamentals that make up your secret sauce that allows you to create additional ways to serve all that need you, somewhere you are present and some that you are not, here are a few examples;
- Each step of your formula can become its own conversation by itself as a do it yourself program. Do it yourself meaning that can be going through a program you have created while you are busy on a stage someplace else serving another group of people.
- You can create various tiers of programming using a combination of 2 or 3 of the steps as a lower price point product that could get a potential client a jump-start toward a longer-term program. One program becomes more of a deep dive then the next. Depending on the various results your client seeks would speak to how you break down the various levels and steps within each level.
- Each step could be its own stand-alone workshop or a weekend retreat experience where you move participants from step to step.
- Each step can become a chapter in a book
I could go on; the possibilities are endless!
In essence, when you create a FIERCE Formula you create a higher perceived value on how something is accomplished as opposed to selling an individual service that does not clearing define a beginning, middle or end. Ultimately for you, creating a FIERCE Formula makes doing business much easier because you have a simple way of describing what you do, and from it, you can create multiple streams of income. This becomes the winning equation to truly move your business beyond just you serving people one on one into all the ways you can serve more people with your expertise, and make more money while you do it.
But I have to tell you where I also see people fail in creating this business model is you don’t start by getting clear on what your fierce formula is, what it does and the best way to create a methodology from it that becomes the foundation to how you do business. Without this clarity, I have seen many entrepreneurs never fully find the grace and ease that comes with the freedom and flexibility that being a CEO of the brand called you should bring you!
Learning how to move from hustling your time for dollars in your business and moving from a one to one model to a one to many model is what brings you that grace and ease in your business! It is what allows you to serve more people without spending more energy or more time while you make more money. Oh and make money while you sleep!
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