Overcome the challenges of working from home

#17 Is your business model costing you money?

Published by Amanda Brown on

This is the first in a six-part series of episodes all about how creating an online course is a way for coaches, consultants, trainers and freelancers to leverage their expertise. I look at seven problems with the ‘time for money’ business model and then provide five possible solutions to issues.
As a business consultant, I know only too well the drawbacks of charging based on an hourly rate or day rate. Unless your business model is based on a performance fee or on a project basis swapping time for money isn’t scalable.

I talk about the problems of:

1.       Lack of financial leverage

2.       Time-consuming nature of the 1 on 1 approach

3.       Scope creep

4.       Overdelivering

5.       Pricing

6.       Proposal writing

7.       Feast and famine

Although there are benefits to the model, there are solutions too, including:

1.       Raising prices

2.       Outsourcing

3.       Productising your service

4.       Training one to many

5.       Creating an online course.

In the next episode, Part 2, I look at the different models of online learning.

Categories: Podcast

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