Business Models with Carolyn Herfurth

“When your business model is really optimized, the money's good. You have the kind of lifestyle you want. You have the kind of income you want. You're working towards your legacy and it meets your why.”–Carolyn HerfurthIs a fuzzy business model slowing you down? Carolyn Herfurth is a strategist and business model geek, and we’re diving into something a lot of us don’t have clear when we start our business or experience growth. In the simplest language, the business model is all the offers, products and services that you make in order to make money. But you can have low, medium, or high touch offers. It’s not one size fits all—but finding the right fit for you at every stage of your business makes such a difference.We talk about: Variety in filling your funnelHaving the confidence to charge the right rates and changing rates to allow for the support you need to fill a programGetting clear on what we are offering and why and what the price isDecluttering your business modelWhy a thought partner is so importantQuarterly check ins on the five pillars of your business. ABOUT CAROLYNCarolyn Herfurth is the strategist expertise-driven founders hire when they’ve built something that works and are ready for what’s next. With 23+ years in business design, she uncovers the unmined gold in their experience, assets, and ideas, so they can create their next big thing.LINKSCarolyn in Pause Magazinehttps://cherfurth.substack.com/ https://www.linkedin.com/in/carolynherfurth/ https://instagram.com/carolynherfurthDOABLE CHANGESAt the end of every episode, we share three doable changes, so you can take what you've heard and put it into action. Change comes from action. Doable changes are things that you can add into your life, one at a time to make micro shifts and really create a ripple effect that will create a big change over time. Choose one that really piques your interest and roll with it. Here are three Doable Changes from this conversation:TRY THE SIMPLIFIER. Try Carolyn’s Simplifier to help you develop your business plan. Ask yourself: What's the thing you're selling? What's the problem it's solving? What's the promise you're making? And what is the purpose of that thing? Why does it exist? And then what's the price?DECLUTTER YOUR BUSINESS MODEL. What are you still offering that no longer works for you? It might be something you no longer doing or an opt-in that leads nowhere. Even if people love it, if it doesn’t work for you and the rest of your business, you can move it out.DO A QUARTERLY CHECK IN. Check in on each of the five pillars: What is your relationship with your business now? Is your business model clear? How are you regarded as a thought leader? How easy and effective is your marketing? How are sales (is it easy to close)? Rate each of these on a scale of 1–10. Then explain in a sentence why you rated yourself that way. What does it show you about what needs to change.