Written by: Vickie Sullivan  |  October 28, 2021

You Might Need a Better Business Model

Most of us have big plans for next year. Let’s make sure those plans are profitable.

A first step that’s often missed: changing your business model. Often people launch marketing campaigns, but they don’t have the best business model to support that effort.

Align Your Business Model to Your Marketing

Two things to consider to ensure your business model and marketing are in alignment:

• Needs vs. wants. It’s easy to describe the appeal of what you offer. But do your revenue streams make the cold-hard business case? Structure your work so your clients can do something critical that they can’t do on their own. Ask yourself: What can my clients do after I work with them? And what role does that outcome play in their goals? Make sure these revenue streams are what buyers need. It keeps you out of the “nice to have” category.

• No marketing orphans. After you identify your top revenue streams, step back and look at the mix. Can you apply one marketing effort to several areas? Or does each stream need a separate marketing campaign? Make sure your marketing costs can support all of your most profitable offers.

Listen: 3 Kinds of Revenue Streams Great Business Models Have

It’s easy to get so caught up in marketing your passion that you let profits slip away. A well-thought-out business model makes sure your bottom line stays healthy.

Now Read This:

• Choose the Right Business Model
• My Turbocharged Business Model Toolkit: How to Pick the Game You Can Always Win