Scaling your business to a one-to-many model

In today’s episode of the podcast we are talking all about the online business space and how to move your business from a one-to-one model to one-to-many model.KEY TAKEAWAYS COVERED IN THE PODCAST A one-to-one business model is where you sell you and your team’s time for money.There is only so much you can get your team members to do – there will always be a limit.When you have a one-to-one business model, the only way you can increase your income is by increasing your prices.You only have a set amount of hours in your day.You need to think about why you chose to start your business – was it to earn lots of money or was it to have more time freedom?If you want to have time freedom – you may not want to work 24/7 to be able to earn that amount of money.A one-to-many business model is about doing what you do, but to more people for a lesser amount.What you charge one-to-one has to be your premium, then your one-to-many option is usually more cost effective for people.A one-to-many business model could be that you offer a workshop, a course, a membership, a coaching programme – there are so many options!One-to-many businesses are not ‘get rich quick’ options.You can earn more money from a one-to-many model because it is scalable.It is not easy to grow your one-to-many membership.If you are not well known for your ‘thing’ or have an existing audience, you are going to find it difficult to have a successful launch.There are lots of courses and memberships out there that will claim to teach you how to be “Insta-famous” but the reality is, just because it has worked for them and their business does not mean it will work for everyone.You have to build a business that suits you and your life.Anyone can have an online business but it takes work and it is not easy.Don’t get frustrated by the numbers – it is not all about the amount of money you make and the amount of people who buy.Just because people enjoy your content doesn’t necessarily mean they will buy.A normal launch gets between 7-10% conversion.Once you have launched, it is important to review and do it again. THE ONE THING YOU NEED TO REMEMBER ABOVE ALL ELSE… You do not have to have a six-figure launch to be successful. Success should be defined by the love you have for what you do and the impact you get to make on others. HIGHLIGHTS YOU SIMPLY CAN’T MISS What is a one-to-one business and a one-to-many business? 02:56Myths about one-to-many businesses 11:50Measuring success 30:46 LINKS TO RESOURCES MENTIONED IN TODAY’S EPISODE How to get started building your listJoin my academy waitlist!My 90 day program Transcript below Hello and welcome to this week's solo episode of the podcast. It feels like a long time since I've done a solo episode, because normally I batch and I haven't been batching as well as I would like at the moment. So I'm recording this fairly close to when it's going out, trying to get a wee bit ahead for my team. Because bless them they are very tolerant of me when I fall behind. But anyway, trying to get back ahead now. And now we are not doing small business superstar podcast anymore. We can hopefully get back ahead. Cause you know, me, I do like to batch content and batch activities in general. Because there's a science proof of this. And one day I will actually find the proof and share it, but our brain doesn't like jumping from one activity to the other. So going from like recording a podcast episode to then writing an email to then doing a live, those things are very different activities. So your brain struggles to get or transition quickly, one into the other. I'm multitasking as a method. I've set this for a while. So anyway, batching is good, really, really good and things get done a lot quiker when you do it that way. So if you've not done it, maybe give it a try. Fairly sure I did an episode on batching. Maybe I should do another one. I can't remember. Anyway. So what are we talking about today? Now, today I'm going to be talking about the online business space and moving your business from a one-to-one to a more one to many. Now I've talked about this before. I think this time I'm going to be really honest about some stuff. Might get a little bit ranty. I apologize in advance if I do, because there are some parts of this world and this space that really winds me up. So I apologize if that comes out during this episode, I promise it will be a helpful episode. Because I want to talk about why you maybe want to look at going from a one-to-one to one-to-many. I think lots of you have considered this already. I think lots of you are debating the options of it. Some of you might have already tried. Some of you might have tried and failed and therefore you might be in a position that things, this doesn't work and I want to, you know, help you out with that, that thought. But let's start right at the beginning, okay. So. What do I mean one-to-one and a one-to-many business. So I had an agency that sold out my time and my team's time. So we did things like we manage people's social media. We, I was doing consultancy. I was doing training. I did things like Facebook ads. And all of that is trading my time for money because other than bringing on more team members, which, you know, we can discuss that. And in fact, I probably should do an episode about bringing on a team and growing your business. I have done stuff before, but, but maybe talking specifically about this. Other than bringing on more people to do your thing for you and bearing in mind, there's only so much you can get them to do. So let's say you are a coach or a counselor or a therapist or a personal trainer or you teach painting or whatever those things are. There's obviously so many things where you are the thing, and if you're doing it, one-to-one, you literally can only ever increase your income by increasing your amount. Now, obviously that's natural that comes the more experienced you get, the more well-known you get, the more confident you get, you can increase your prices. And I certainly did that. I started, when I look at where I started, it was kind of you know, laughable from a, uh, it came back to my confidence. I didn't have the confidence to actually put myself out there at a price I deserved. So anyway, it wasn't laughable from a, you know, that's a ridiculous amount to charge because everyone starts somewhere. And so did I, but now I look at it and think I should have been brave. It's charged a bit more because you know, my experience, my level of education, my quality of my work, I should charge more. Anyway. Uh, side note. So the only way you can increase that income is by going up with your prices because you only have a set number of hours in your day. Now there are absolutely things that you can do to help yourself get more organized. You can bring in team members, even if you are the one that has to deliver the thing. Because they can come in and they can do your admin. They can do your financing, they can do your financing. I didn't, I meant to say that the financing, they can do your invoicing, they can do your appointment booking. You can get systems that will send your emails for you. That's an automated thing. So when someone books in for a training, maybe it automatically sends out the email that tells them what they need to do to prep for it. So there are lots of things that you can do that can help you become more organized and stop you from doing the things that you've got to do. So as that salary increases or as the amount you're charging increases and the more you're getting booked, then you can get rid of some of that other stuff off your plate. You can get rid of some of the marketing off your plate. You could get someone to do your social medias or send your emails. Um, But, like I said, that comes as you start to increase your, your cost that case. That's one option. But again, you're going to hit a ceiling. There is only so much someone will pay someone to do something. So, you know, if you're charging, I don't know, let's say your a coach and you're charging a hundred pounds an hour at the moment. And you want to charge, you know, 10 times that. Well, you've gotta be really realistic about, well, how many people are gonna buy it that that amount. Okay. So, like I said, there's a ceiling that you'll hit because we only have so much time in a day. And also let's be really honest here about like, why did you come into business? Did you come into business because you wanted to earn loads of money? Well, if that's the case, then cool, you're going to work really hard and you're gonna put your prices up and you're gonna be really busy and you can earn that money. Or did you come into business to live a free life to work less, to spend more time with the family, to have control over your time. And if that's the case, you might not want to work 24/7 just to bring in that income. So that's where everybody's been for a long while. And obviously...