Last time we talked about coming up with your topic (read it here).
The good news is since it’s your business, not only do you get to choose what you want it to be about, but also what you are going to offer – and how you’re going to offer it.
Broadly, there are three types of people in any given market:
- Those that want to do it themselves, and are looking for someone to tell/show them how.
- Those that just want the results, and are happy to pay someone else to do it for them.
- Those that want to work with someone to achieve the results.
You may have heard these referred to as the “do it yourself” (DIY), “done for you” (services) and “done with you” (coaching) segments respectively.
Each of these segments is looking for something different.
For instance, the DIY segment is generally looking for step by step guides on how to achieve specific outcomes. They are mostly happy with ebooks or videos, and are not expecting much (if any) personal support. At the higher end, they may also be interested in courses. They probably aren’t willing to spend much, but there are generally a lot of people in this space, so it can still be quite lucrative.
At the other end of the spectrum, the “services” segment are looking for someone to provide them with a completed product, or a service that means they don’t have to do it themselves. There tends to be less people in this space, but they are usually willing to pay you significantly more.
The third crowd generally fall somewhere in the middle. They’re looking for a coach that can point them in the right direction and hold them accountable to do the work. Sometimes they can also be interested in courses, but only if they come with a support system they can reach out to when they get stuck (they like talking things through with someone).
So once again, you have the opportunity to design your new business in a way that suits you.
Picking a Business Model That Suits
Don’t like dealing directly with people? Easily stressed by delivery deadlines? Then addressing the DIY segment is perfect for you.
Love working with people and helping them achieve the results they crave? Then coaching is where it’s at for you.
Are you a creative type, that just loves to be let loose on a challenge? Then you should consider a services model.
And what if more than one of these excites you? There’s nothing stopping you from offering a mix of the above. Just be careful you don’t spread yourself too thin.
Start by picking the model that aligns with the way you like to work now. After all, it’s your business, and you have to enjoy it if you are going to stick with it long enough to succeed.
Here again, your mind will probably try to trip you up:
- But I heard that I have to do <whatever model>. There are plenty of people that will tell you only a certain model will work, and that the others are all too hard and bound to fail. Generally, whoever is telling you this is trying to sell you a course on exactly that model. The fact that other “experts” are trying to sell you courses on the other models should tell you that any of them can work. Go with what feels right to you
- But what if I change my mind and want to offer something different? No worries – it’s your business and you can change any time you like (I’m pretty sure I’ve said that more than once before, but it’s so true). Just make sure you’re not constantly changing your mind as a form of procrastination. But if you’ve given one model a go and it truly isn’t working for you, then by all means switch it up.
- But I can’t offer courses until I’m booked out one-on-one (I hear this one a lot!). Whilst one on one work can certainly help you understand what people are struggling with, it is not the only way to get that information. And besides, once you are fully booked out one-on-one, where are you going to find the time to put a course together? If you feel like courses are your thing, do your research and go for it!
Remember, this is your business, and you get to do it the way you want.
No matter which model you choose, there will always be plenty of people looking for what you’re offering. You just need to work out how to find them.
But that’s a topic for another time …