Perhaps the phrase Business Model sounds like something that is only applicable for MBA grads. But let me assure you, your Business Model can determine whether you get to live the dream of freedom and wealth, or you end up working your butt off for little return.
How do I know this? Because I’ve been down both roads.
I started my journey as a Website Designer and Marketeer in a service based model. But quickly learnt that it just wasn’t going to give me my freedom or get me to the level of wealth I wanted to create for my me and my family. I enjoyed my work, but I felt like I was going down a path which was never going to fulfill my needs.
So I started to learn about Business Models. I studied different types of businesses looking for ways which I could earn more money and have the freedom to spend time with my kids.
Once I moved from a Service Based Model into a Product Based And Membership Based Model everything started to change. I now run a successful 6 figure business helping other mums and biz owners launch their business under the right business model.
It’s something that you don’t often read about online. There is a lot of information about the Marketing and the Product Design but the business model itself is barely mentioned. I want more mums to get the freedom they deserve and that’s why I’m bringing this conversation to you now.
It’s so important that we all think a lot more on it. Especially in these times of uncertainty, we need to take control of our future. Let me reassure you, you don’t need worry, it’s actually fairly simple when you break it down.
Today I’d like to share two Business Models which you can use to launch a business from home. These models will help you create financial freedom in your business & personal freedom in your life to enjoy your family.
So let’s dive into it!
Business Model 1: Online Directory
I know when I say this you are very likely to get images of terrible, spammy online directories coming into your head. But wipe that image away and stay with me. A well crafted, user friendly Online Directory can be a great way to earn a passive income.
Is your local area in need of a website so that people can find local services for example? If so then you could be onto a winner.
Or maybe you can create your Directory around a target audience, like mummy services. Check out Top Mummy Blogs for a great example of a well designed Online Directory which provides tons of value.
With an Online Directory you can charge a monthly fee to business owners who want to list on your website. If you charged $19.99 per month and listed 500 businesses that’s a passive income of almost $10,000. Your job would be to sign up the businesses to your directory and drive traffic to the website so that the businesses on your directory get exposure.
If you aren’t sure about Marketing then hire an SEO Agency who can help you with local SEO to make sure your website is popping up when users search for local services.
Business Model 2: Memberships
If you are already in the Online world and setting up your business this one is probably familiar. There has been an explosion of people creating Online Courses, many of them offering a membership type payment scheme.
This is the trends of people searching on Google for “how to create online course” since 2004. Just check out the spike from 2011.
In a membership-based model you offer a monthly service for your customers. This could be new videos & content, a monthly coaching call, a membership area full of information. Everyone has something they know which other people want to learn.
You just need to identify what that is and learn how to present it in a way other people can learn from you. Depending on the information you are offering you can charge anywhere between $10 to $100’s every month.
If you charged $179 per month you would only need 70 people to be making an income of $10,000 per month.