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Digg it UP - Is Your Business Model Healthy?
June is reality check month. Lots of the resolutions have been made and most are already broken. It’s time to take a hard look at where you are going in 05 and beyond. One of the most important things you can do for yourself is to update all your personal credentials including your bio & your resume.Have you done your spring cleaning (professional) yet? Do you have solid career plans for the balance of 05? Why are you waiting to ge
Let’s use the business model of a consultant as an example.
CURRENT BUSIENSS MODEL Product/Service: Consulting services delivered by the consultant alone
Price: Per hour
Clients: One at a time full time or two to three part-time
Delivery: In person
UPDATED BUSINESS MODEL Product/Service: Consulting in person delivered by the consultant, additional consultants working for you, speaking, selling intellectual property (an ebook, audio, or other information product)
Price:
Small business loans for women involve a number of procedures. Firstly, they have to submit the loan application that seeks comprehensive information about the project. Specifically, the application form covers aspects like promoter’s background, particulars of the industrial concern, and particulars of the project (capacity, process, technical arrangements, management location, land and buildings, plant and machinery, raw materials, labo
But what if all the hard work you are currently doing is not necessarily the most effective way to grow your business?
A solid business is built around a business model that works. If you think you have a great business model in place then it will only take a few minutes to confirm that this is the case.
If you aren’t quite sure if your business model is functioning optimally, now is the perfect time to give it a quick check-up and find out.
When I talk about your business model I simply mean the way your business makes money. Think about these basic components:
* Your business offer products and services
* You sell them for a certain price
* A certain number of people buy them (once or even better, repeatedly)
* You deliver them in a certain way (in person, electronically, third party, etc.)
Why not revisit your business model to see if there are a few ways you can change it. This doesn’t have to be complicated, simply take a piece of paper and a pen or open a new file on your computer.
Write down all the products and services your business currently offers, the price for each, how many clients you have who purchase each offer and how frequently. Total this up, subtract your costs, and see if this structure is going to bring you the financial results you want.
Now imagine how many different ways you can upgrade your business model to attract more business and leverage what you already have.
Get creative and try out several combinations of products and services. Here are some ideas:
- Perhaps you can add something new, additional revenue streams.
- You can also think about increasing the amount of what you already deliver.
- Or maybe at this point it’s even best to remove a part that isn’t profitable.
- Consider changing the way you deliver your products and services.
- What if you didn’t change a thing except to increase the prices (speaking or pricing, when is that last time you increased the prices for your products and services)?
Let’s use the business model of a consultant as an example.
CURRENT BUSIENSS MODEL Product/Service: Consulting services delivered by the consultant alone
Price: Per hour
Clients: One at a time full time or two to three part-time
Delivery: In person
UPDATED BUSINESS MODEL Product/Service: Consulting in person delivered by the consultant, additional consultants working for you, speaking, selling intellectual property (an ebook, audio, or other information product)
Price: C
You may be surprised to know that many companies in the US and UK do not put together a water tight contract when dealing with an overseas software services provider. Most of the agreements are done via email with little or no regard to important aspects such as dispute resolution, intellectual property rights, confidentiality issues and employee infringement. If you plan to use an offshore provider soon, here are some basic tips on how t
When I talk about your business model I simply mean the way your business makes money. Think about these basic components:
* Your business offer products and services
* You sell them for a certain price
* A certain number of people buy them (once or even better, repeatedly)
* You deliver them in a certain way (in person, electronically, third party, etc.)
Why not revisit your business model to see if there are a few ways you can change it. This doesn’t have to be complicated, simply take a piece of paper and a pen or open a new file on your computer.
Write down all the products and services your business currently offers, the price for each, how many clients you have who purchase each offer and how frequently. Total this up, subtract your costs, and see if this structure is going to bring you the financial results you want.
Now imagine how many different ways you can upgrade your business model to attract more business and leverage what you already have.
Get creative and try out several combinations of products and services. Here are some ideas:
- Perhaps you can add something new, additional revenue streams.
- You can also think about increasing the amount of what you already deliver.
- Or maybe at this point it’s even best to remove a part that isn’t profitable.
- Consider changing the way you deliver your products and services.
- What if you didn’t change a thing except to increase the prices (speaking or pricing, when is that last time you increased the prices for your products and services)?
Let’s use the business model of a consultant as an example.
CURRENT BUSIENSS MODEL Product/Service: Consulting services delivered by the consultant alone
Price: Per hour
Clients: One at a time full time or two to three part-time
Delivery: In person
UPDATED BUSINESS MODEL Product/Service: Consulting in person delivered by the consultant, additional consultants working for you, speaking, selling intellectual property (an ebook, audio, or other information product)
Price:
It’s amazing what a well-written and nicely presented resume can do for your job search. Before you send yours out, follow this checklist to ensure you are sending out an excellent quality representation of yourself.1. Grammar, spelling, punctuation – Use the grammar and spell check function, then print it out and read the document word for word. Spell checker doesn’t know that you meant “manager” when you actually
Write down all the products and services your business currently offers, the price for each, how many clients you have who purchase each offer and how frequently. Total this up, subtract your costs, and see if this structure is going to bring you the financial results you want.
Now imagine how many different ways you can upgrade your business model to attract more business and leverage what you already have.
Get creative and try out several combinations of products and services. Here are some ideas:
- Perhaps you can add something new, additional revenue streams.
- You can also think about increasing the amount of what you already deliver.
- Or maybe at this point it’s even best to remove a part that isn’t profitable.
- Consider changing the way you deliver your products and services.
- What if you didn’t change a thing except to increase the prices (speaking or pricing, when is that last time you increased the prices for your products and services)?
Let’s use the business model of a consultant as an example.
CURRENT BUSIENSS MODEL Product/Service: Consulting services delivered by the consultant alone
Price: Per hour
Clients: One at a time full time or two to three part-time
Delivery: In person
UPDATED BUSINESS MODEL Product/Service: Consulting in person delivered by the consultant, additional consultants working for you, speaking, selling intellectual property (an ebook, audio, or other information product)
Price:
Who is an e-mail customer service representative?This is a management or a company agent that does customer relations via the internet or e-mails. His principal duty is to represent his employer and the company at large. He does this by replying e-mail inquires and answering customer questions.As businesses expands and organizations breakeven, the need to complement growth with adequate management becomes inevitable. As we a
- Perhaps you can add something new, additional revenue streams.
- You can also think about increasing the amount of what you already deliver.
- Or maybe at this point it’s even best to remove a part that isn’t profitable.
- Consider changing the way you deliver your products and services.
- What if you didn’t change a thing except to increase the prices (speaking or pricing, when is that last time you increased the prices for your products and services)?
Let’s use the business model of a consultant as an example.
CURRENT BUSIENSS MODEL Product/Service: Consulting services delivered by the consultant alone
Price: Per hour
Clients: One at a time full time or two to three part-time
Delivery: In person
UPDATED BUSINESS MODEL Product/Service: Consulting in person delivered by the consultant, additional consultants working for you, speaking, selling intellectual property (an ebook, audio, or other information product)
Price:
One of the ways you - as an owner of service businesses - can increase your profits is to create muliple streams of small business income. And the place to start is by designing informational products. The products could be based your knowledge - things like CDs, e-books, booklets, teleseminars, and articles. You know -- these are the very things you've been watching me develop over the years. And if you're a US resident who has taken one
Let’s use the business model of a consultant as an example.
CURRENT BUSIENSS MODEL Product/Service: Consulting services delivered by the consultant alone
Price: Per hour
Clients: One at a time full time or two to three part-time
Delivery: In person
UPDATED BUSINESS MODEL Product/Service: Consulting in person delivered by the consultant, additional consultants working for you, speaking, selling intellectual property (an ebook, audio, or other information product)
Price: Consulting per project (and part of the fee for consultants working on behalf of the consultant), speaking per event, intellectual property per item
Clients: Many at one time
Delivery: In person, automated (via the internet)
Are you starting to see the possibilities for your business? Renewing your business model can re-inspire your enthusiasm for what you do as well as increase your desire for marketing your business.
A healthy business model is the foundation for a successful business. Take time to examine your business model and make sure it is the strongest it can be.
With a few simple changes, you will probably make more money and you may even find that you don’t have to work as hard to do so. Now who doesn’t want that!
© Stephanie Ward, 2007
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