revenuemodel

Eric Miller, Chief Financial Advisor and Co-Owner of Econologics Financial Advisors, joins the show today to discuss his innovative approach to financial planning. His unique Financial Prosperity Index, a comprehensive assessment covering 100 questions and 9 different domains, provides clients with a holistic view of their financial health—and helps Eric demonstrate the value of his financial planning services beyond traditional metrics like net worth and investment performance.

Listen in as we discuss Eric's niche-focused practice, catering to healthcare professionals, and his successful strategies for acquiring new clients while delivering substantial value. You'll get insights into his client acquisition tactics, his evolving perspective on celebrating achievements, and his advice for young advisors on honing communication skills for a prosperous career in financial advising.

For show notes and more visit: https://www.kitces.com/359 

In our 115th episode of Kitces & Carl, Michael Kitces and client communication expert Carl Richards discuss how to set pricing in order to run a viable practice. 

For full show notes, see kitces.com and thesocietyofadvice.com.

For consultants, coaches and practitioners who are building a business around you, your expertise, your unique value proposition, it's important you have more than one 'offer'.

Today we’re going to dive into ten new revenue streams in a consulting business that you can build more flexible and secure income.

We talk about the different offers, and then we’ll go through how you might present them at different times in the customer journey and different ways to stack them so it’s a logical success pathway for people.

In this episode, I dive into new ways to earn income that allow you to build more flexible and secure revenue models. I talk about new ways to meet your customers where they are, and help you create new income streams, even if to start with it’s just a trickle!

We’ll go through ten different kinds of offer and how to stack the deck in your financial favour and in service to your clients, students and customers. Instead of just creating things that people consume, you can also create programs and services that people participate in.

Show notes and support links available at jayallyson.com/podcast/create-multiple-streams-of-income/.

Subscriptions are an increasingly popular way to monetize apps & games, and for users to access content and services. Holly Ackerman & David Berlin from DAZN, share insights about setting up a subscription-based sports streaming service. 

DAZN is building the world’s largest and fastest growing live sports streaming service. With the sport schedule disrupted, the global roll-out to more than 200 countries and territories is slated for later this summer. 

(Due to COVID-19, timing of some episodes has changed)

Does your fitness business feel stuck?

 

Is your mind constantly thinking: “Where is my next sale coming from?”

 

Getting new bodies in the door will grow your fitness business but it requires a large chunk of dollars. And you need to sell more than one thing.

 

You want to do it in a non-salesy, cheesy way, right?

 

Welcome to The Stacking Revenue Model.

 

The Stacking Revenue Model is a systematic way of progressing your clients through their unique problems, needs and ambitions using a suite of your products and programs to deliver a measurable, tangible result or transformation that also builds your business profit.

 

Stacking Revenue may sound complicated at first, but it’s super simple when you start breaking it down.

 

If you know my TPS Framework, this is easy for you. 

 

If not, go back and read the TPS Framework, but as a light introduction let’s look at some steps and examples. 

 

1. Define Your Tribe. (T)

 

When choosing a tribe the more specific, the better.

 

Here’s an example: the college kid that’s going off to college for the first time.

 

The Tribe- male freshman college kid (T)

 

Once you have your tribe, you need to know their first problem.

 

2. Define their first problem. (P1)

 

Remember you are in the business of solving problems.

 

As a college freshman he has a problem- he’s never shopped before. He doesn’t even know what to do in a grocery store because his mom always shopped for him. 

 

His problem- no idea how to shop a grocery store. (P1)

 

3. Create the first solution. (S1)

 

The solution is teaching him how to shop in a grocery store. 

 

This guide might be a PDF, a report, a first video series or webinar. There are many different ways you can package it.

 

But, you come up with: 'The Freshman Shopping 101' guide. (S1) 

 

You set it up as a lead magnet to get him on your list.

 

With that shopping guide he just went and shopped at the store.  

 

Problem solved. 

 

He’s now got cupboards full of food.

 

4. Define next problem. (P2)

 

With all that new food, problem number two just opened up- he doesn’t know basic cooking. (P2)

 

Guess who can teach him? You! 

 

5. Create Solution #2. (S2)

 

“The Freshman Cooking Course: How to Not Starve Yourself and Still Feel Good.”

 

That program becomes your next paid program in your business.

 

That solves the second problem.

 

6. Repeat the PS Framework as far as you like.

 

Once you get into this frame of mind for growing your business, you can keep looking at problems and solutions framework as far out as you want and keep building programs based off clients' needs. 

 

Keep It Simple

 

As you build your programs, don't overwhelm your clients with too much information in each program.

 

Give them just enough to solve each problem then you present the next thing.

 

 

That is how you continue to deliver results and grow your business with a suite of offers!