How to Increase Revenue Using a
One-to-Many Model
The Big Problem with You Inc
Service based professional need to understand this simple fact. If they don’t implement a one-to-many model it’s likely their business may fail. A service based business doesn’t fail due to the idea. It’s often already proven. Nor from lack of effort.
Many owners work 50-60 hours a week in their business. So why is the failure rate around 80%? Because the sheer effort of doing so much work without the monetary reward grinds people down. They become exhausted and disillusioned.
When I stated my first business I didn’t have a business plan or any kind of vision. I only knew I didn’t want to work in the corporate world any more. After a difficult first year with one single customer, things began to take off. Clients and revenue grew quickly, but so did the hours I worked.
The events industry is very anti-social for the workers. Events are held evenings and weekends. I would end up working all week plus the extra event hours. It became exhausting. I also missed many family events, friends’ birthdays. Even weddings.
Something had to give. Luckily it was my ego. The contractors I hired didn’t have the flair and skills I’d mastered working on cruise ships. But they could at least follow the methodology I’d created. The signature style we were known for and our clients loved.
Adding checklists, systems and processes enabled me to stop working so many hours. Plus, there was an unexpected bonus. It allowed me the time to expand. To go national and significantly increase revenue. Something I’d thought about but wasn’t able to do until then. I “didn’t have the time” to grow my business.
I see the same dilemma with professions like accountants, coaches, graphic designers, etc. They can only take on so many clients before they max out their productivity. And unless they are at the top of their profession they can’t charge enough to make a decent living. It becomes a trap. A zombie business, more dead than alive. With the owner stuck, working themselves in to the ground.
Do you think your business could include this kind of model? It’s definitely possible to break out of the cycle. To go from a one-to-one to a one-to-many model. Not only have I done it, but I know how to teach it. Here’s how…..
3 Ingredients For a One-to-Many Model
When you’re busy delivering your offer in one way you can often fail to see other opportunities. To move from a one-to-one to a one-to-many model requires just three things. But you need all 3 to succeed.
There are no business models that are perfect or right for everyone. Finding the best model that allows you maximum upside is the goal. This is never more true than for service based professionals. These experts are great at what they do but most make the same fatal mistake. Picking just one mode to deliver their expertise through. Accountants make money through accounting.
Trainers make money from training. Chef’s cook. You get the picture. The secret to increasing profits, having a greater impact and becoming a niche leader, is to diversify how you deliver what you do.
It doesn’t take more knowledge. Or having to learn something new. It requires there three things in this order.
Are you Effective?
What are you good at? Your secret sauce. Your genius. Is it a process, a system or a different way of thinking? Something that gets your clients great results? Are you cheaper, better or different. When you reach a point in business where you have overcome challenges and you’ve figured out how to be effective that is something of value. A short-cut other people want. The opportunity to bypass all the mistakes, failures and problems you encountered.
Using psychology can help you achieve your goal. Here are the top 5 tips to help you.
Are you Efficient?
Being effective isn’t enough on its own. You could be effective but create chaos around you. If your results come with wild swings of creativity, confusion and unnecessary angst, your effectiveness will be seriously diminished. It’s never the best carpenter that makes a million dollars a year. It’s a great carpenter who becomes efficient at what he does and also how he runs his business.
Are you Leveraged?
To get the most out of your process or secret sauce required one final layer. Leverage. To get a better ROI – Return On Intellect™ requires you to create leverage. We say create because if you don’t intentionally build the one-to-many model it won’t happen on its own. The good work you do needs to be magnified, multiplied, and amplified. Where possible it needs to be re-purposed or re-used. So that the time you spend working creates far more value for you and your business.
When you combine something that is specialized, specific, relevant and repeatable you have a winning formula to scale? Remember, all 3 ingredients need to be in place. They have to happen sequentially for it to work. Still not convinced? What about McDonalds….
The Ultimate Leveraged Case Study
We all know the story of McDonalds. The giant fast food company that re-defined the fast food model. What’s interesting is that it took off when Ray Kroc’s took what was already working and leveraged it. Multiple stores all over the US and then the world. Using the exact same systems in each store. Taking what worked and amplifying it. It’s kind of like going from a spade to a JCB, you get a lot more digging done.
Does the Model Always Fit?
Not always, but Neil Patel had some great advice about business. “If you’re going to swing. Swing for the fence”. It takes just as many hours to run a one-to-one business as it does a one-to-many. You’ll work as hard, have similar highs, lows and frustrations. But the difference is that with a leveraged model you’ll have a significant upside.
The ability to service far more clients that one-to-one. The derogatory term for people who work for an hourly rate is that they are considered to be “trading time for money.” Whilst many people love what they do, there comes that point of change. To have fulfillment, a bigger impact and avoid burn out they add a one-to-many model to their existing offerings.
- Work smarter not harder.
- Create a bigger impact.
- Measure results not your time.
Is this Model For You?
P.S. If you’ve been considering but haven’t implemented your own one-to-many offering, take advantage of this…
FREE MASTERMIND: Service Professionals One To Many Program
The “how to” information space is booming. People are going to industry experts NOT academics to find out a skill or how to do something. You already know their needs, wants and frustrations because you’ve been through that journey. This allows you to gain the leverage without any risk, and without having to start a new business or operate in a new niche.
If you’d like me to guide you through how I did it with my online Masterminds, sign up for my free training here.