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Business Planning: 4 Steps To Creating Your Online Business Model Blueprint

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Business Planning: 4 Steps to Creating Your Online Business Model Blueprint

by Donna Gunter

Copyright (c) 2009 OnlineBizU.com

I'm in the process of completely rethinking my businessmodel, and that will be my primary focus as I plan thisyear's business retreat for myself. Your business modeldoesn't have to be at all complex, but should provide theguiding force for all that you do, like guiding you to theopportunities to accept (and those to decline), the jointventures and strategic alliances to pursue, and the newideas you should retain and develop, as well as those tolet go of.

Here's are the 4 steps I'm following as I create theblueprint for my business model:

1. Make clients pay well for your most valuable commodity-- your time. I see many service business owners tyingthemselves up with (and tying themselves down to) far toomany 1:1 clients. You have only so many hours in the day,and at some point you'll hit the wall and not be able toexpand the number of 1:1 clients you see. Sure, you canhire and train additional staff to handle the overflow, butin many cases, you make less money in this model whiletripling your headaches. Make your 1:1 time with clientsyour highest-fee service, charging a premium fee todispense your expertise.

2. Ongoing recurring revenue is key. Feast or famineseems to shape the life of the service business owner,regardless of industry. Wouldn't your life be much moresane if you knew that you could count on recurring revenueeach and every month, rather than having to constantly goout and find new clients? This was one of the models Iadopted early on in my virtual assistant practice, i.e.working exclusively with clients on retainer rather than a"pay as you go" model. What is it that your clients needfrom you that you could provide on an ongoing basis withthem that isn't time-intensive for you?

3. Always have an upgrade. Never offer a stand-aloneproduct or program that doesn't have a natural tie-in tothe next level of program or service that you offer. Ifthere's no way to leverage what you're offering into sometype of upgrade, don't offer it! For example, a freeteleclass can lead participants to enroll in a paidshort-term group program. From that program, plan toenroll a certain percentage of those participants into arecurring revenue continuity program. You can then upgradea percentage of these participants into a live event orsmall ongoing mentoring program, and from there make anupgrade offer to your premium 1:1 time.

4. Design the blueprint. Brainstorm all of the types ofprograms, products, and services you might offer in yourbusiness. Your list might look like the one below:

--Consulting

--1:1 Service Provision

--Group Coaching/Mentoring/Continuity Programs

--Sale of Info Products --Private Retreats

--Strategy Sessions

--Live Events

--Speaking

--Information Products or Books --Licensing/CertificationTraining

--Telesemi Membership Web site

Pick 3-5 of these items that will make up your businessmodel, and then determine what percentage of income youwant to derive from each. Your total needs to equal 100%. Then, determine the order in which you offer the componentsof your program over the next 1-2 years. This becomes yourblueprint for action.

How do you determine your success? If your business stillsuffers from feast and famine, take a long, hard look atyour business model for the solution. Every offer you makein your business should flow seamlessly into the next,which will result in a steady, predictable income that youcan increase over time as you become more expert atdesigning and following your blueprint.

About the Author

[Whats a Sales Funnel] and [Whats a Funded Proposal]?