August 18, 2017

Who built your business model?

Have you ever asked yourself that question?

It’s easy to get stuck in a business model, which we adopt because everyone in our industry is doing it. Now, if that model works, supports our commercial and lifestyle goals, then that’s great. Sadly, many people are working a business model that’s missing one or both of those goals.

For example

An example we see all the time, is the trend among the best known social media experts, where almost all of them use the exact same business model: Selling speaking gigs and books. Book income is relatively low, even for best selling business books. As a result, these hard working individuals tend to spend most of their time away from their homes and loved ones, because they have not yet figured out an alternative business model to the social media talking circuit.

It’s sad and 100% avoidable, for those willing to embrace Steve Jobs’ mantra and Think Different – rather than follow the flock.

Thinking different

The starting point of developing a more effective business model, is to identify exactly what you want from your business. I’m going to leave you today with a great way to get some clarity around this key challenge.

Grab a pen and a pad and write the following question at the top of the page, then spend as long as required answering it.

Here’s the question: If my business were perfect in every way, serving both my lifestyle and commercial needs, what would it look like?

Consider things, such as:

  • How many hours would I work?
  • Which worthy causes would I support with my work?
  • How much would I earn?
  • Where would I live?
  • Who would I work with? You can answer with the profile of clients you want to attract or name names of people / businesses you’d like to work with.

The key is to allow your mind to focus on the things in life that matter most to you and incorporate them into the development of your ideal business.

If you take the time to do this correctly and then start working on an effective plan, the impact can be life changing. I have worked on this with many clients over the years and it’s one of the most professionally rewarding things I have ever done.

Just remember when asking and answering your questions, to Think Different.


About Jim Connolly 93 Articles
Jim Connolly has worked in marketing for 24 years and had his own successful marketing business since the mid 1990's. Jim is known worldwide for his ability to help small businesses make massively more sales and boost their profits. Although Jim now works exclusively with small businesses, he has worked with people from some of the best known companies in the world. These include; The BBC, Disney, Rothschilds, Mitsibishi, Hewlett Packard, Edelman and AWD PLC plus many more. To see how he can help your small business, visit his blog at Jim's Marketing Blog.

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