Three simple ways to scale your online business to increase your revenue, get more clients, and save yourself time.
Scale With Strategy Sessions
Strategy sessions are a fantastic way to scale your online business for a number of reasons. They are easy to create and don’t take a lot of effort to get up and running.
If you’re new to the idea of strategy sessions, I have a super popular masterclass that will walk you through everything you need to know about creating and delivering strategy sessions that you clients will rave about.
Three Reasons Why Strategy Sessions Are A Great Way to Scale Your Online Business
Strategy Sessions provide so many wins for both the client and the service provider. I’m going to share my top three reasons for encouraging people to offer strategy sessions as part of their services.
An Entry Level Service Offer
Strategy Sessions are a great way for people to invest in you who might not have the budget for your higher ticket offers.
Increase Your Profit Margin
Strategy Sessions only take a few hours to execute and deliver. This means your ROI in terms of your time investment will be much higher than your hourly rate for other services that you’re currently providing.
- Example: Your retainer package is $1000 USD and that includes up to 20 hours of support. That’s essentially $20/hr. Now, think about a strategy session that you sell for $397 and that takes 1.5hrs for the live session and another 1.5hrs to prepare the final report. That’s approximately $100/hr which is 5X your current retainer rate.
- Note that these are all approximations and you can charge whatever makes sense for your business, but the point is — you can absolutely scale with strategy sessions.
A Repeatable Process
With strategy sessions, you are able to not only scale your business, but also create a highly streamlined and easy-to-replicate process that you can redeliver and customize over and over again. Once you offer strategy sessions a few times, you will have a clear idea of what your own unique process looks like. My Strategy Session Masterclass provides you with the templates, processes, and swipe files to get you started without any guess work involved.
Scale With VIP Days
VIP Days are an easy way to scale your online business is with VIP Offers such as VIP Days, VIP Weeks, or Intensives (both in-person or virtual).
Things To Consider With VIP Days
VIP offers aren’t for every business owner, but there are plenty of entrepreneurs out there who want high touch support and are willing to pay premium prices in order to get the results or transformation that they want on a shorter timeline. Revenue from VIP offers can often be equivalent to three or five retainer clients. This makes VIP Days a very alluring option for scaling your online business.
- Example: You have a retainer client for $1K USD. Your VIP offer is $3K and it only takes you a fraction of the time to complete the engagement and deliver results. That’s scaling at its best right there!
Popular VIP Days include, but are not limited to:
- Project Management Tool Setup (Clickup, Asana, etc.)
- SOP (standard operating procedure) creation
- Sales Page in a day (copywriting VIP day)
- Dubsado setup Or any CRM like Honeybook, etc.
- Launch planning VIP day
Scale With An Agency Model
What Is An Agency?
An agency is a scalable version of your business that utilizes contractors or employees to support the services that you provide so that you can serve more clients at one time.
Scenario: You start as a solo service provider, assisting your clients with marketing implementation and strategy. You quickly become booked out and no longer have the capacity to bring on new clients. You still have prospects coming to you, and you can’t stand the idea of turning the away. An agency might be a great solution.
Agency Solution: You hire two additional marketing specialists who can help you fill the demand. You onboard them as part of your brand so that you can continue to expand your business. They provide services to clients as part of your business and get compensated by you, instead of directly from the clients. The new marketing specialists are now part of your team and you’ve started to build an agency.
Why Agency Models Are A Popular Choice
Agency models allow you to serve more clients than you’re able to as a solo business owner. This ultimately means that you’re then able to generate more revenue in your online business.
Things To Consider With Agencies
Increased Team Expenses.
Keep in mind that you will have increased costs as your team grows and you need to be mindful of your profit margin. You will want to ensure that your rates can cover a reasonable amount of compensation for your team members while also providing profit for the business.
- Team members who work for an agency often expect (or understand) that they will be compensated at a reduced rate compared to offering services directly on their own.
- This is true for a number of reasons, but the biggest factor is that the team member isn’t responsible for the marketing or sales portion of the business.
- Team members don’t have to worry about client acquisition. In most cases, they are simply paired with a client within the agency and their only responsibility is to provide contracted services. Obviously this can vary depending on the specific agency model, but most commonly this is how an agency in the online business industry works.
Determining The Right Choice
One, a combination of, or all of these options may work for you. The key is to determine where to start and which option best fits your individual lifestyle and goals.
What do you have capacity for right now in terms of time?
If you are completely maxed out in terms of time, but want or need to generate more revenue quickly, then starting with strategy sessions or VIP days is probably the best plan for scaling your online business.
Do you currently have the budget to invest in a team? If the answer is yes, then looking at the agency model would be a great next step.
What if I don’t have the budget right now?
Create a plan. Start setting aside a portion of your revenue for operating expenses so that you can expand your business.
One of my favorite resources for creating strong financial foundations in business is Profit First. Grab this book if you don’t already have it. It was a true game changer for me. I recommend it to all of my clients.
Scaling Your Online Business Your Way
The most important thing to remember when it comes to scaling your online business is that there’s no one way to do it. You need to focus on what’s right for you!
In Episode 86 of the podcast, I talk about Why Scaling Your Business Isn’t Just About Making More Money. Sure, making more money is fantastic, but it shouldn’t be the only reason you scale your business!