So you want a raise …. I want one too.
Any entrepreneur worth the title is looking for that angle to make more money and not spend more time doing it. Some choose to grow their businesses vertically, some horizontally, and some by investing in alternate streams of income.
What works best? That is a deeply personal choice, but – and this is a big “but” – if you are an acknowledged expert in your field, then why not look to building out a training aspect in your business?
Think about it – if you have built a successful company, documented the “how”, and can effectively share that, there are thousands of entrepreneurs that would like to be able to “turn key” a business like that. Bear in mind, this isn’t franchising (although that may be an idea). No, this is about teaching others. How? Here are some great (and lucrative) ways to put more money in your pocket for knowledge you already have and assets you’ve already created.
Start a Mastermind group. Napoleon Hill first introduced the idea of the “Master Mind” in his book “Think and Grow Rich” and the idea is used in every business environment around the world. As a business model, the idea is that an acknowledged leader in a field invites a small group – say, 5 or 10 individuals – to meet at a scheduled time each week, and discuss various aspects of each individual’s growth and success based on the goals that person has set. Price ranges for these run the gamut from free to thousands of dollars, but if you have the systems in place and the reputation to leverage, running a mastermind can be very lucrative.
Seminars. I know, you’re thinking that you’re a small business owner and there’s no way that anybody would pay to listen to you teach them. I beg to differ! If you have a successful track record and/or a unique way to handle and structure your business, then you absolutely can put that into a seminar format and teach it. Yes, you’d probably have to start small – maybe even in your own conference room, but each of those attendees would have the opportunity to learn how you’ve been able to be successful. As you refine your lessons and polish your speaking skills, the stages can be bigger and lead to long-term mentorship packages. In general, attendees for seminars – especially those that offer lots of “hands on” with the teacher and expert, can easily command big dollars for a few days of training.
Ongoing Training. Mentorship and teaching packages can run the spectrum of costs and relevance. Perhaps you simply put together a basic membership website and host a series of videos on it, charging members a monthly fee and “upselling” them into newer programs as you develop them. The beauty of this model is that you create the asset once and it continually returns the investment month after month. At the same time, it offers you an opportunity to continue to develop other training packages and upsell those to your existing customers.
Write a Book. This may sound like a daunting task. Like many before me have discovered that the key to Not wasting our most valued commodity, Time, is to have a clearly defined subject matter. Preparing the Outline will require the largest amount of your time; more so than writing the book itself! Many books are successful because the outline kept the author on track from the opening words to the final chapter. Lastly, Authority and expert status goes a long way to establish credibility and make your marketing more productive.
My business is Tax Resolution for businesses that have gone afowl of the IRS.
During the course of your daily interactions with clients, friends and family, remember that as a Tax Controversy expert I am here to assist them from the first letter to the final letter from the IRS. Should a person come to you for advice make sure they ask the right questions before commiting to a firm. Click here for a copy of “5 Things to Ask Resolution Companies” . Fore warned is fore armed.
Call me at the office: Patrick LeClaire @ 407-287-6638. I will be here when the time is right.