Bonita L. Richter, MBA, teaches coaches, consultants, and solo professionals how to market their businesses to increase sales , income, and generate wealth.

A business model is simply what activities you do to make money in your business. Missing just one major element jeopardizes the ability of your business to achieve the income results you desire.

The good news is a viable, profitable business model isn’t hard to create. I have clients who’ve used the same tips I’m about to share with you to grow their own businesses into multi-6-figure empires.

Following are some quick ideas and tips you can use to compare your current business model and lead generation activities. If you find you have some gaps in your money-making plan, simply apply the following ideas, and you’ll be on your way to creating a better performing business:

Define Your Business Model

Decide on three core ways you will be paid for your topic, such as through teleseminars, workshops/retreats, and coaching programs.

Decide what percent of your income will come from each of these three core activities.

Identify Your Signature System

Create a signature system; be known for something (such as how to help others make more money in their service business, or how to create a brand identity).

Think about steps you take a client through to achieve a result; this is your signature system.

What are your clients repeatedly asking for? This could be your new information product.

Create Your Profit Pyramid

Create a profit pyramid for each product and service your offer; include a minimum three levels, at three different price points.

Example: the first level will be your free gift, the second level will be an eBook or home study system, and the third level is your “big ticket” item.

Create Your Website, eZine, and Blog

Be sure you can collect the names and email addresses of people who visit your website. These people are warm leads.

Start publishing an eZine so you can keep in touch with your prospects, develop a relationship with them, and eventually promote and sell to them.

Start a blog. Google loves the contemporary nature of blogs, which will help with your Google ranking.

A blog gives your readers a chance to respond to you, comment and hold conversations with each other, which in turn builds relationships and strengthen the bonds of your “tribe” or followers.

Build Your List

Leverage your list-building activities. Think about how you will connect with the most people, with the least effort.

List-build in any number of ways, which may include; offering free teleseminars; be a guest on other peoples’ teleseminars; offer a free special give-a-way, such as a bundle of your articles, templates, etc.; launch a direct mail campaign; advertise; use Pay-Per-Click campaigns; and get a strong business referral network working for you.

Also consider public speaking, press releases, and social networking.

Develop Your Customer Service Strategy

How will you create raving fans? Think about what would delight them, offer it, and reward them for buying your products and services.

Read Raving Fans: A Revolutionary Approach to Customer Service, by Ken Blanchard and Sheldon Bowles to get great tips, as well as strategies for following up.

Use the tips above to increase momentum, and fast-forward you toward creating a profitable business model that’ll help you achieve the income goals you desire.

Copyright 2009, Bonita L. Richter

To download Bonita L. Richter’s popular and *FREE* Money and Marketing spreadsheet tools, and BONUS gifts visit ===> http://www.Profit-Strategies.biz/Templates.html

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Many companies have been offering continuity programs for years. Proactive does it with face cleanser. Leeza Gibbons does it with Sheer Cover makeup. Doubleday does it with books. Columbia House does it with DVDs. Each of these companies offers an option in which subscribers pay a set fee each month and receive something new in return (books, DVDs, etc.). I’ve belonged to all of these continuity programs at some point in my life, and chances are, you have, as well. How can you incorporate this recurring revenue model into your business?

Here are the 5 most effective online continuity program models to consider for your online business:

1. Retainer. Attorneys and accountants have done this for years — their clients go on a regular retainer and the client can contact the attorney/accountant whenever needed as defined by the parameters of the retainer. Consultants, coaches, and virtual assistants offer this option, as well, as a way of providing services over an extended period of time. While having this in place makes for less client turnover, this model is the most time-intensive model of all of these models, as the model requires trading time for dollars. Most retainers offer x number of hours of work or x projects to be completed in return for a set monetary amount.

2. Subscription Membership. In this model, you are providing new content regularly to your members via a membership web site. Members log in and access new articles, audio, checklists, ebooks, discussion forum posts, etc. This is a content-driven model, as you need to continue to provide new content for your returning members as well as to attract new members. The upside of this model is that many members retain their membership for a year or longer, especially if offered the option of a reduced annual membership fee.

3. Fixed-term membership. In this model, you are providing new content on a weekly basis to your members for a fixed period of time. While initially time-intensive to set up, this model runs fairly seamlessly once all of your program modules are written. As long as your topic isn’t one that needs continual updating, you can create this once and resell this again and again. However, unlike the other models, you keep your members only for a limited time (3 months, 6 months, 12 months) and then need to boost your marketing to continually replace members for this program.

4. Club or Inner Circle or VIP Program. This is a model that coaches, consultants, and speakers often use and may be marketed as a group coaching program. Typically the participant gets access to the program leader or an expert via a teleclass, and a printed teleclass transcript and CD are mailed to the participant each month. The program leader may also include open Q&A/coaching sessions, sporadic 1:1 coaching mini-sessions, and access to various resources and contacts to further help the participants. As long as members feel they are receiving value, they’ll generally remain a participant in this type of program.

5. Association. Becoming the founder or president of a national or international association offers the kind of leverage not found in any other model. Because associations connote expertise, being the leader of an association automatically makes you the expert in a particular area. Reporters and writers often look to leaders of associations to comment on trends in an industry, which will result in much media attention for your business. Membership benefits and membership packages are the key offerings here, whether that’s a monthly teleclass, access to specific downloadable content, networking opportunities, direct mail membership welcome packets, etc. This model is generally the least time-intensive, as 80% of your members will receive their membership package and not be heard from again until it’s dues renewal time.

Why continue to trade time for dollars? Take a look at these continuity program models and see which one(s) make sense for your online business. If you pick the right target market at the right time, one of these models may become your full-time business.

Photo: Iva Villi

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