Here’s the best kind of expert business to run…
But before I reveal that let me share with you a little bit about why this topic came up.
You see, in December of last year I was promoting a Mastermind Group that I would be hosting in 2023.
We had quite a few takers that decided to invest (a rather large investment)
However, I couldn’t shake this feeling deep within that it wasn’t the right time for this.
It didn’t match the season I was in in my business and personal life.
So I made the tough decision to reach back out to the amazing group of experts that signed up and let them know about my decision to postpone its launch.
They couldn’t have been more understanding.
The reason I share all of this is because it’s important to run the type of business that you want and actually desire.
Even if that means making some really tough decisions like canceling a Mastermind that would contribute hundreds of thousands of dollars to your 2023 revenue.
So the best type of expert business to run is one that you actually desire.
To help you figure that out I’ve put together a list of 3 questions that will help you shape the type of business you want to run.
- Is the model right for your personality?
I know some experts that want to work closely with their clients and I know some that don’t want any interaction. The ideal type of business for these 2 experts is going to be completely different. The first will more likely do some form of group or one on one coaching while the other might just run an online course business.
It’s important that your personality matches with your business model.
- Is the business model right for your audience?
For example, if you have a smaller audience, running a membership model might not be best. On the contrary if you have a smaller audience but you’re looking to run group coaching or one on one coaching then you’re in a good position.
- Is the business model right for the life season you’re in?
The type of model you choose should coincide with the season you are in personally. If you have kids and a spouse your season is going to be different than someone that is single without children. The amount of time you’re willing to spend in your business is going to be different.
So those are the 3 questions!
I recorded a podcast this week on these questions and my own takes on them.
To hear my answers as well as a more in depth take on each question, make sure you tune into my podcast this week.
I encourage you to take some time and ask yourself these questions and start running the business that you truly desire!
A lot of experts fall into the trap of creating a business structure that they think they should be doing rather than one that they actually desire. If you’ve been in the expert business for any amount of time, there’s plenty of opinions by other experts on which structure is the best. From a simple low ticket online course business to a high ticket one on one coaching business – there’s no shortage of experts championing the model that is working best for them.
In this episode I go over the 3 fundamental types of businesses that are run in the expert industry as well as 3 questions that will help you shape the type of business that you actually want to run.
P.S. If you haven’t yet checked out my Conversion Story Formula™ it’s been getting crazy results for people. You’ll be able to design your signature story in under 48 hours and share it with the world.