6 Ways to Make More Money While Changing Lives In A Bigger Way
by Laura West
As a passionate entrepreneur, I know you want to get your work out into the world in a bigger way. You also want to make great money so you can reinvest and keep growing your business to reach more people and, of course, to support a life and family you love.
To move into "growth mode" in your business, it's important to start looking at what you will do differently. If you want to make more money -- you can't just work more hours and do more of the same. There's a limit to how many hours in the day your energy will support.
Even when your intention is to make more money, it's not just about the money. (I keep getting reminded of Cuba Gooding Jr.'s line in Jerry Maguire -- "Show me the money!") It's also about your passion. Of course, you don't want to work hour after hour just for the money. You want your work to be an expression of your deepest self; you want to inspire others and change their lives while adding to your own full joy -- which includes making great money to support your life!
By shifting from hourly services to creating packages and programs for your clients, you will be able to serve them in a bigger way by including experiences, products, knowledge and inspiration in whole new ways -- that they will be willing to pay for!
Here are six ways to shift from hourly services to leveraging your time, knowledge, and expertise into bigger money making programs -- which, by the way, will change your clients' lives in an even bigger way than when they came to you for a few hours at a time.
1. Create Packages of Your Time -- This is the first step in moving from an hourly consulting or coaching business model. You create package options that bundle your time into bigger commitments. Of course, you know that you'll get better results when you have the opportunity to work with a client over time. It takes time to apply new strategies, concepts or advice. If you're a coach, imagine moving from charging $400 a month to offering 6-month and 12-month packages. You'll attract clients who are more committed and, therefore, will experience even greater results in working with you. They're playing bigger, which means their results are bigger. It's truly a win-win for all.
2. VIP Day -- Some potential clients want to get it all done at one time. They don't want to learn what you have to share with them over time -- they want a more intense or immersive experience. A VIP Day is an opportunity to work with a client for an entire day. This builds up momentum and focus. You will be amazed at how much they will accomplish when you have a big chunk of time dedicated to their success. Depending on your industry and experience, you can add VIP Days from $1,000 to $25,000 a day. Just one VIP Day experience each month can substantially add to your revenue for the year.
3. Virtual Retreat -- This is a great program for those who prefer not to travel, either because of the effort or the expense, or maybe they have family responsibilities, which would make taking time away to travel more of a burden. You can offer a 3-to-5-hour intensive meeting over the phone where you focus exclusively on them. You'll take breaks along the way and send them off to do work and come back and check in. This is an easy way to pump up your revenue, and to offer a powerful and impactful program with very little expense on your part. You can also add a webinar, or webcam to make this even more robust. I have a Platinum client who is an image consultant, and she uses the web cam to have clients scan pictures in their virtual consultation.
4. Strategy Sessions -- Often when you start your service-type businesses, you offer free consultations. As you get experience, you can then offer hour-long strategy sessions on a specific topic. These are highly leveraged, hour-focused sessions where you give tremendous value, and your clients get to experience what it's like to work with you. As an example, I offer a $597 Intuitive Business Consultation. It's fast-paced, intensely concentrated time on a particular marketing strategy or business issue. I even record it, which is helpful since we focus and get on a brainstorm roll. They can always come back to the audio.
The idea behind the strategy session is that clients will then see their ideas come to life, get an experience of working with you, and will feel ready to commit to a bigger package with you. This session isn't a sales session though -- it's very valuable on its own. It's ver y compelling and they are sure to want more!
5. Group Platinum Program -- "Platinum" has a distinction of meaning high quality, premium, and special. With a Platinum Program, you put together a menu of products, experiences, coaching, and training to create a valuable supportive and transformative experience. Platinum clients may get individual time with you, along with valuable masterminding from the highly select members of the group. A group program like this is leveraged on your time -- meaning you can serve more people in less time.
You don't have to deliver all the information or coaching in this type of program. You just happen to be the one who pulls together all the support they need: products from other experts, additional audios or training programs you've created on specific topics, retreat time away from their office to focus on their life or business, and even providing time with other experts. As an example, one of my platinum group programs includes time with an image consultant because my clients are stepping into bigger visibility and credibility, which requires more confidence inside and out. They love that I have found an expert in this area whom they can automatically trust and who understands their businesses. They trust me to recommend the best, and it saves them time and frustration.
6. Private Platinum Program -- A certain number of your clients want a premium experience with you. Creating a Platinum Program for individuals is powerful for the client because you put together the ultimate experience for what they need to be successful in their businesses or lives.
This can include private time with you where your client flies in for a custom-created retreat, or you may meet at a spa, golf location or my favorite - an oceanfront resort hotel. These programs can easily add tens of thousands or even six-figures to your business. They also attract higher quality and more committed clients. This means they get better results, and so do you! And don't forget . . . you're helping your clients step into their bigger selves, at the same time as are you. You're helping them bring their full gifts to the world, which is what your passionate business is all about.
Which program strategy will you choose to step into first? What do you need to know or do? Who do you need to be to put this program out to your list of fans? What support do you need to make this transition of stepping into "growth mode" in your business easier?
What will you do differently next year?
Laura West may be contacted at http://www.joyfulbusiness.com
Written by Laura Howard West, Center for Joyful Business, http:/www.joyfulbusiness.com ©Copyright 2009. All rights reserved. Laura West is an award-winning online entrepreneur and president of The Center for Joyful Business. If you are ready to shift your marketing and mindset for more success with joy and ease, get your free report: Business Attraction Success Kit http://www.joyfulbusiness.com/subscribe.html