SDN105: The Five Parts Of The Perfect Business Model
The Five Parts Of The Perfect Business Model
On the Stop Doing Nothing podcast, you will discover how to get results in business and life using the most simple methods possible. This is a podcast aimed for high-achievers who possess a rare burning desire to see above the fog of life and create a better world for themselves and those around them. Great coaching is the secret of all successful people. This is what they don't teach you in business school. In this episode, you will learn about the five parts of the perfect business model.
If you want to build a thriving business, your business model should convince you that your idea makes sense because your time, money and effort are at great risk here. Nevertheless, it’s always advisable to leave room for future innovations whatever business models you opt to utilize.
Here are the key areas we covered in this episode:
- The value of data in marketing and business — how it can help you identify which marketing efforts drive conversions and sales, so you can get to know your prospects better and work with your dream clients.
- How to strengthen your weak branding statement. For example, instead of saying, "I help people realize their dreams and make unlimited income," you can turn it into something more precise and powerful like, "I help female entrepreneurs break the ten thousand dollars a month barrier by showing them how to monetize their knowledge twenty-four hours a day, seven days a week, by using A, B and C tactics."
- The benefits of offering high-ticket products or services that will skyrocket your profits. This process shouldn't be complicated at all. Your knowledge, your products, and your services become more valuable when you bundle them together.
- The significant risk of depending on a single large client up to the point of neglecting the marketing side of the business. As a client, you don't want your revenue to count on you for a big percentage of their revenue. Clients go away; it happens. Therefore, discover how you can find a way to get small recurring income as much as possible.
- The importance of having a place for you to collect data about your prospects or your customers — it could be any web-based platform where you can push information to people, and they can sign up.
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