How to regain Confidence in your Business Model · 2015. 4. 9. · best! Ideally this would be...
Transcript of How to regain Confidence in your Business Model · 2015. 4. 9. · best! Ideally this would be...
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How to regain Confidence in your Business Model
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So you’re wondering whether you’ve got the right business model?
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Perhaps you’re worried you’re being a busy fool?
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Perhaps you are not sure if you have the right kind of customers?
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There’s a lot of things you might worry about - to name a few: • Is my pricing right – am I charging too much or too little?
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• Is my offer right?
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• Have I got the right products or services?
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• Who should I be selling to and how do I find them?
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• When should I bill and what payment terms should I offer?
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• How can I keep my customers happy and coming back for more?
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• I have more customers but my overdraft is increasing each month!
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So where do you start?
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Well we’ve already started to gain control by knowing what we stand for and why we are in business – see the ‘How to Regain Business Direction and Focus’. Click the image to get your copy
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If your Core Purpose is correct it should be what you are passionate about and what drives you.
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The first step to regain confidence is to place what you are really good at, at the core of your business.
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• Of all the things you do for your customers, what is it you do really well?
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• What could you be the best at in your sector - or if not the best, one of the best!
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Ideally this would be something that would be scaleable because this will allow you to grow with confidence –
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– so check these three things against your key products or services to help you chose what you should focus on:
• Is it valuable/do your customer perceive the value in your ‘offer’ or is it viewed as a ‘commodity’?
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• Is it something that clients might come back to you for more of or that might lead to additional service or product sales?
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• Is it something that is teachable – that does not rely solely on your skills or experience?
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So your focus product(s) or service(s) should fit with what you are great at and should tick the boxes for scaleability.
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• Now you think you have a focus and the beginnings of a rekindled confidence, get a booster shot:
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• You will already have a good customer who has bought this service
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• See if you can get some ‘coffee’ time and ask for their help!
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• “I want to grow and I’m thinking of focusing on this service with customers like you - -If you were in my shoes how would you go about it?”
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• And if this all checks out, the final confidence booster is people willing to pay for what you’re good at.
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– Avoid the cash ‘guzzle’ – charge upfront or bill in stages. Don’t bill at the end and offer long payment terms! • If you do, the faster you grow the more cash you will need!
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Think subscription or contract – can you get a regular repeat cycle pre-agreed?
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Now you have a focus on a scaleable service or product that you know customers need – and that avoids the cash ‘guzzle’ – you can be more confident about your business model
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All you need to do now is decide how big you want to be!
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Good Luck!
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•Need a sounding board for your ideas? •Need to know what to prioritise? •Want someone to challenge your assumptions?
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