Could your biz model be more profitable? My article is posted at Staples Business Depot Small Business Blog today. They have asked me to submit my articles, and I sent in several recently. I love sharing tips with entrepreneurs, and it’s great exposure for me!
“Could Your Business Model Be More Profitable?”
By Jan Marie Dore
When I first started providing business coaching services, I followed the time-for-money model that all coaches at that time and most professional service providers were trained to use. I charged a monthly fee for two hours of time spent with me every month.
That worked well while I was in start-up mode. But it stopped working so well when I grew into a full practice. I ran out of the time and energy I needed to add more new clients and additional income. I started to realize there was a cap on my profits.
I could see only three options: either work harder and longer hours to increase my income, or raise my rates, or settle for a less than satisfactory income level.
Let me know what you think!