You can have your next income stream up and running and generating sales in the next 30- 60 days.
After last week’s email, I had questions about the right order to add your income streams. Honestly, it doesn’t matter, but to help you decide what to add when, here my 5-favourite high-ticket premium business models and the pros and cons of each.
1 – $997-$2,497 Online Group Programs
PROS
- People can join from everywhere in the world
- They can be automated and sold using an evergreen funnel
- Not limited to numbers
- Really good for long-term income generation
CONS
- Not good for short-term income generation
- Long lead time
2 – Done-for-You Services
PROS
- Very easy to sell.
- You only need a few sales to enjoy a significant payday.
- Excellent for short-term income generation
CONS
- Time intensive
3- Small Seminars and Retreats
PROS
- You only need a few sales to enjoy a significant payday
- Easy to sell as clients like the idea of being in a private location with other high-achievers
CONS
- Not good for short-term income generation
- Long lead time
- Plenty of moving parts
4 -One to One
PROS
- Very easy to sell.
- You only need a few sales to enjoy a significant payday.
- Excellent for short-term income generation
CONS
- Time intensive
5-Equity deals/Revenue Sharing
PROS
- Very lucrative
- You get paid and someone else does the work
- Very easy to implement
CONS
- Financially Risky
- Can ONLY be implemented in select cases
Now the name of the game is implementation so how do you decide which is best for you?
Choose the option that is closest to what is currently generating 60-80% of your annual revenue AND the easiest to implement in the next 30- 60 Days (90 Days max depending on the size of your team)
For example:
If you’re currently generating 60-80% of your revenue from one to one coaching and you have a waiting list then a – $997-$2,497 Online Group Programme would be your next best addition.
OR
If you’re generating 60-80% of your revenue from a high-ticket mastermind and you’re having requests for 1:1 coaching then a Done-for-you Implementation service would work.
Pretty straightforward right?!
Speak soon
Julia