Influence must be sustained: Creating your business model
Today we’re going to talk about creating a business model. As a self-proclaimed nerd, I absolutely love this topic and can’t wait to break it down for you.
When it comes to your business model, you need to make sure you have something in place that will sustain your craft. I understand that many people just want to reach others, and that’s great, but eventually, you might burn out. If you’re truly passionate about your craft, whether it’s music, graphic design, or anything else, you need to figure out how to sustain it.
To help you out, I’m going to encourage you to create a business model, and we’ll reverse engineer your story to do that. For example, once a client came to us with a cool tech idea, but they didn’t have a plan in place to make money. We tried to help them market it, but six months down the line, they were unhappy because they weren’t making any money. If only they had asked for help in creating a business model!
To give you an example of my own business model, as a musician, merchandise is one of my main sources of income. I sell t-shirts, sweaters, and CDs on my website, and once they’re created, I can reverse engineer and figure out how to get people to buy them. I use social media, word-of-mouth, and even ads to get people interested.
Your homework is to research your industry, figure out your two main sources of income, and create a business model. Make sure to present it to people you trust and get their feedback. Once you have it all figured out, write it down and get to work!