This article will explain what a business model is and some common misconceptions about how they work. I will also explain 7 simple (and highly misunderstood) business models common in the small business space online. I’ll also share some thoughts on 2 simpler product-based business models. You’ll learn about their revenue potential, common marketing strategies, support, and more.
- Productized Services
- Packaged 1:1 Coaching
- Packaged Consulting
- Packaged Group Coaching
- Signature Course
- High-End Subscription
- Low-End Subscription
Packaged consulting is what I’m starting now:
A packaged consulting business likely has defined deliverables. But the deliverable is a knowledge product instead of the outcome of a service. Think a report or strategic plan rather than a website, copywriting, or brand suite.
I’ve had some ideas for courses in the past but I appreciate her points about needing to provide customer support, which I’m not interested in, and market it to a ton of people, which is also a lot of continuous work — and as I self-publish and promote my book, I’ll need to spend a lot of ongoing time marketing that.
I have some other product ideas, but I’ve left them on the back burner because I don’t have time or energy for creating and promoting those now.