Suzanne Chadwick
Welcome to the brand builders lab podcast. I'm your host Chadwick certified business and mindset coach, author and speaker Each week, we'll be talking about simple but powerful business and mindset strategies that will help you build a lean, clean and profitable business. So you can learn to get out of your own way and pay yourself more, more. Forget average, it's time to level up. Hey, hey, welcome back to the brandbuilders love podcast. Amazing to have you here. As always, I hope that you have had an amazing week and that if you're in Australia, you're coming into the end of the financial year. And I hope that you're feeling good about it. I know that the last six, nine months have been tough. I know that, you know, it's been up for some people down for others. And it's definitely been a big shift from what we've been used to. But I hope that you are in a good place. And I hope that you are doing well. And just remember, you can always reach out to me on Instagram at Suzanne Chadwick. If you ever are feeling like you need a little bit of support. Yeah, totally here for you, my beautiful podcast community. But listen, today we're going to be talking about shifting your business model. Now this month, I have been accepting applications for the amplify mastermind, and I wanted to talk about it for a couple of reasons. Number one, I think that it's important to talk about the products and services that we have. But I also think it's important for us to talk about why what we do can help our clients to achieve their goals. So I didn't want to be shy about it, I wanted to openly talk about what it takes to shift your business model, what it takes to shift your mindset when you're looking to shift your business model. And also some of the things that I work with my clients on within the AMPLIFi mastermind, which for the majority of my clients is either expanding on their revenue streams, or shifting their business models. So that's what we're going to be talking about today. But before we dive in, I do want to let you know that I am going to be running a personal brand workshop, a live 90 minute workshop next Tuesday, the 27th of June, as I'm recording this, that you can come and check out it's only $27 You get six months access to the workshop, you get the workbook, we'll do a q&a. So if you have been wanting to build your personal brand, if you want to think about what that strategy looks like, then come and join me for the brand to bank personal branding workshop, I would love to see you that. All you have to do is get to Suzanne chadwick.com forward slash brand to bank all one word, and you can register and sign up. And I'll see you live next Tuesday for 90 minutes where we'll work on your personal brand strategy and what it is you want to create for yourself. But listen, let's dive into this week's episode. So there are four things that I want to take you through today. When it comes to shifting your business model. The first thing we're going to talk about is why you would even think about shifting your business model. The second thing is a really honest conversation around the pros and cons of shifting your business model, we're going to be talking about the mindset that you'll need if this is what you want to do. And the fourth thing we're going to talk about is the future of your business model. And so I actually think this is the conversation that we don't have enough due out a business's life, I feel like there's different iterations, you might start your business doing one thing, then you evolve your products and services, you might evolve the way in which you work with clients, you evolve your pricing. And I also think that a lot of times, especially with people who have come from a done for you background where they are delivering to the client, sometimes you get to a point where you're just over that, like you want to earn money in a different way. You don't want to be the person who's delivering all the time. And so that is one of the things that I'd have to say the majority of my clients who are in amplify, they have come from the done for you model. So we've got copywriters, web designers, brand designers, agency owners, OEMs. And so that is one of the things that they want to shift. How do I become a leader in my industry? How do I start to shift into a more scalable model where I can work with more clients, but it's not actually costing me all of my time and effort. And I'm not kind of trading those hours for dollars as well. And so that's kind of one of the first reasons that I think a lot of people start to shift their business model. Now for me when I first started my business, I was doing one on one coaching, and then I had a whole lot of events and I had workshops and all the rest of it. And if you know my story at all then you'll know that sort of three years into the business I called 80% of the business and I just focused on my one on one coaching and BBA at the time the About Business Academy. And when I did that, I actually ended up like tripling quadrupling my revenue, because it meant that all of the people who wanted to work with me just funneled straight into those two products, it just made it really, really easy for them to decide to work with me as well. The second reason that a lot of people decide to go into a scalable model. And obviously, when we talk about scalable, it means that you can earn more and work with more people without it costing you more time, money effort. Now, there will be investments in technology and maybe some support. But at the end of the day, you can work with more people. And you can work less hours if you choose to. So that is what we're talking about when we talk about a scalable model. And one of the ways that you can do that within the service base industry. And can I say I've got a couple of clients who have product based businesses, who are also now teaching something within their business so that they have additional revenue streams, which is one of the key reasons why people do shift their business model. But also the online education market worldwide is projected to grow by almost 10%, between 2023 and 2027, which would mean that it would be of market volume of $239 billion by 2027. So this is only going to grow, this is only going to get bigger, which is why this is an amazing thing to consider. If it's something that you want to do. So the great thing, if you are looking to get into things like either memberships, group programs, masterminds, whatever it is teaching people online, is that we already understand how it works, we know what we're gonna get, we understand that we're going to be learning along the way that usually there are video lessons or audio lessons or worksheets, etc. And then depending on the type of model that you have, there might be some personalized coaching for a period of time. And so I just think that when you are looking to scale your business, it's not like you're going into something that people don't understand. It's not like you're going into something where they're like, so what are you doing, like, I don't get this, which is great, because then you don't have to really educate people on it, the one thing you do have to do is build a brand around what it is that you're teaching, and also your personal brand, like are you the person that I want to work with? Are you the person that's going to teach me how to do this really well. And so that's obviously something that you need to think about when you are building a more scalable business model. The third reason that it is worth considering shifting your business model is, like I said, to add additional revenue streams to what you're already doing. So some of my clients have been doing what they do for a really long time. And they can create something scalable now based on their experience. So there's a couple of mixers. Number one is that I've got clients who currently do done for you. And they're going to continue to do done for you. But they may be streamlining those particular things, increasing their pricing, getting rid of some things, and then they're looking to build the scalable program that's going to educate their new clients on how to do whatever it is that they have an expertise in. The other thing is that I might have clients that are just wanting to get rid of the done for you all together, and start with coaching, and programs and masterminds. So I had a client who has been a brand designer for a really long time. And when she came into amplify, she started building out her one on one coaching. And it was amazing to see her get clients from all over the world. She created her group program, and she started to develop her mastermind, which she was going to launch this year as well. And the thing is, is that you can start building those new assets because that's exactly what it is. It's an asset that keeps working for you. As you're starting to ramp down, you're done for you services. So some of my clients will keep those done for you services until they're at a point where they've built the brand of the program. They've built their personal brand to become known as the go to person to teach and support those types of clients. And they may have built enough assets to really start to replace the income that they have from the done for you services as well.

So those are just some reasons why you might take a look at building a scalable business. I think that there are a lot of other elements that go with it. I think that you have to want to be somebody who is a leader, you have to want to be somebody who teaches things and you have to be somebody who is okay in the structure of a program based businesses as well, which we're going to talk about once you've decided whether you want to move into a scalable business model, the second thing is really taking a look at the pros and the cons of it. Some of the pros is that obviously, you have more revenue streams that you can build, you can teach clients, you know, one of the things I teach my clients in amplify is to revenue stack. And so it's really taking their thought leadership, which I've shared on the podcast before, but taking your thought leadership or a concept, and then monetizing it in different ways. And so let's talk about Brene. Brown, because you know that I love her, and she's one of my faves. So obviously, she's done a whole lot of research, she was a social worker, she was a professor, she's done a whole lot of research into vulnerability. And so she speaks, and obviously earns money through that she's written books, she earns money through that she's got courses, she earns money through that, she's on Netflix, she is money through that, and she's got the podcast as well. So that is what revenue stacking looks like. So for me, my one on one coaching, I can take my clients through my methodology, or they can join the board Business Academy, or they can read play big brown board, or they can listen to the podcast, or I get invited and paid to speak, when you are looking to shift your business model, you've also got to decide whether shifting your business model to something that is scalable. And as I teach and amplify is more of a revenue stacking model, you've got to decide that you actually want to do that. Like do you actually want to start a podcast? Do you actually maybe what a writable? Do you want to get paid to speak on stages? Do you want to teach a method that you have that you don't have to do all of those things? But I think that it is just thinking about? Am I the kind of person that wants to do that? Like if I didn't do what would I regret not doing it? If I didn't share what I thought if I didn't give my point of view, if I didn't teach others what I believe is really important for them, would I care. And I think you've got to really care, because it's not an easy path. It's not a simple thing. And I think sometimes and to a point it's been sold, that when you build a great program, or you just like build it and sell it and have $100,000 launches, and it's amazing. Now you can absolutely get to that stage. But there is a lot of mindset work. And there is a lot of hard work that goes into it before that, because now you've got this product that you've built. I'm a big believer that you always continue to make it better. So the first iteration of BBA, which used to be the brand builders Academy, was very different to what it is now. And we've been through about two or three. Now I would say three revisions where I've got professional videographers, Ian, and we've redone like the entire workbook. So we took all of the individual worksheets from all the modules, and we put it into the big BBA Brand Book, which people can get, you know, halfway through the program. And so it's about continuing to make it better, it's about learning to sell it over and over again, it's about learning to talk about it in new and different ways. So if that's something that you're willing to do, then it's absolutely something worth considering as well. Another pro is that if you're somebody who gets a bit bored or restless in business, then it can kind of keep it fresh and fun. And what I mean by that is that you'll build the asset. And you'll continue to sell that. But there's so many different ways that you can market it. So you could do webinars, you could do challenges, you could do coaching weeks, there's lots of different things that you can do around marketing what you have as well. So really thinking about if you're somebody who likes to have a lot of variety, in marketing your business and selling one or two particular things, then this could be a really, really good option for you. Now, the con of shifting your business model is that it's not so much of a con but rather a bit of a reality check as well is that a lot of times if our business is up and running, then we forget how long it actually takes to build something new. So when people move into group programs, or build their personal brand, it may take more than three months to be able to do that. And it takes time to start building that audience because it can be very different audience to who you might have right now. So for example, if you do a lot of done for you, then you've got people following you who want done for you. Whereas if you're now looking to teach people who may be you know, quite a few steps behind you, then that's going to be a different audience. And so it's also taking a look at how you build a new audience or a semi new audience from scratch. And so it's just understanding that there is a lead time and that's why when we have done for your clients who are shifting their business model, obviously we never say to them just jump and the net will catch you. Like obviously build this part of your business and when you Start revenue generating revenue, and you start getting more clients in, then you can obviously decrease the done for you services. That is kind of a con, if you are somebody who wants fast results, if you are somebody who needs the money right now, then you'd have to take a look at whether the scalable business model is something that you want to do or whether you're going to plan to do it, build it, and then take the leap as well. Obviously, if you already have a really great brand in the market, then you could get things like paid speaking gigs, you could run paid workshops. So I do think that it's totally possible for you to earn money fast when you're shifting better business models. But you've just got to take a look at what is something that you could convert quickly based on what you've been doing, the audience that you have the brand that you already have in the market as well. The third thing, and one of the most important things is the mindset when shifting your business model. So the bottom line is that you have to be ready for something new I kind of mentioned this before is that you have to want to change things. And you have to be okay with the work that it takes to make that happen. And if you want to shift to a personal brand model, then you have to be okay with being visible as well. You know, personal brands are built on two main things, which is community and content that shares your thought leadership, and also who want to be part of your movement, who are interested in what it is that you say, and they believe what you believe. So there's a values alignment as well. So this is you really deciding, like making a decision to step out from behind your brand, and actually be seen. And I think that a lot of people struggle with that. Like I always say, when I talk to my clients about naming and claiming their audience, if you're somebody who doesn't want to be visible, you don't want to you haven't got something to say you're not interested in being seen as a leader, then amplify is definitely not for you. Because it is about getting paid for what you think instead of what you do. It is about supporting you to become a leader in your industry to become more confident to share what it is that you think, and really decide that you want to step up into that position as well. And so from a mindset perspective, I

think that's a really important thing for people to understand. Because I think that a lot of times the other thing that's been sold as you just create a course and then you sell it, but at the end of the day people buy from people. So if you're not willing to be visible if you're not willing to share your thought leadership, and it's going to be really hard for people to decide whether you're the person they're going to trust, whether you're the person that they're going to listen to, and want to work with want to give their money want to trust that you're going to help them to get the transformation that they're looking for. And so you've got to make that decision, and you've got to show up in that energetic space for them to be able to connect with you as well. Now, if you've been in business and been doing done for years, then you've obviously marketed yourself well. But most done for your businesses, they've been the person behind the brand. And they focus on the work that they create, and that they do for clients. So this is definitely some mindset work that I've done with clients in amplify before, where it's like they really want to be a leader, they really want to be visible, they really want to stand out. But it is a big shift to go from the person behind the brand where maybe they've had referrals, they've gotten business that way, but now they're trying to market themselves in a different way. And so taking that leap to be visible. And to be the person in front of the brand is definitely something that, you know, I've done mindset work with a lot of my clients on to to actually make that shift, because I think that if they haven't done that before, a lot of times, I find people underestimate what it takes to be visible, what it takes to show up and create content that shares their thought leadership, which is why one of the things that I'm really looking to do with my amplify clients, as an additional service is to support them to create really high valuable content, and then for our team to be able to execute on that for them. Because I think that sometimes there is a big skills gap. And I do I am a massive believer in staying in your zone of genius and wanting to be able to create content, but at the rate at which the market is going content is absolutely a currency that is important for entrepreneurs to have. And if you want a scalable business, if you are trying to reach more people and get more people into your courses, your programs, whatever it is that you're doing, then content is the currency for that. And so I think it's really important to understand that and be willing to do the work around that. as well. Now, the fourth thing that I want to talk about obviously, firstly, we've talked about why you would shift your business model, we talked about some of the pros and cons, we've talked about the mindset around it. But number four is the future of your business model. The one thing that I really want you to know is that you will evolve. Yeah, just like you've evolved in the past, you can evolve in the future. And so I think sometimes people feel like, Oh, if I shift my business model, like that said, I'm stuck like I've, you know, let go of everything. And I just want you to know that you can move at a pace that works for you, as I said, before, some people hold on to their done for you. And they reduce it over time, other people hold on to it and streamline it. But you could shift business models and have that business for the next two or three years. And then you might shift business models again. And that's totally okay. That is your prerogative, that is your privilege as a business owner, to choose what business model you are moving into. Even at this stage in my business, which is pretty much like eight years, I think I bet my business for now, I'm now looking at potentially adding a new business model. So I'm not shifting the business model that I've got, but adding a new business model to what I do as well. And so we have got that freedom. So I just want to let you know, like if you are thinking, I would love to build a more scalable business, I would love to build my confidence to be able to be visible and a leader in my industry, then, now is the time to do it. As I always say, start building the business you want in 12 months time today, because you'll build it in 12 months time the market will start shifting, you will start evolving. And then you will continue to evolve your products, your services, the way in which you market yourself the way that you show up the way that you sell. And eventually you might even shift your business model again. So those are some of the key things that I really want you to be thinking about. And until the end of June applications to amplify are open, which is the end of the Australian financial year. So if you want to get in as a business deduction, and getting to amplify before the end of the year, then now's the time to do it. But one of the things that I am really focused on for amplify and with my clients is that I think there is a sustainable way to grow a business. And I think that we are in a time right now, where building a scalable model is understood. And it is something that a lot of people are doing really well. And if you want to build a personal brand that has an impact and the influence, and also helps you to create the income, then now is the time to start there is no time like the present. And so we then amplify, we've got our weekly group coaching calls, you've got to one on 140 minute coaching sessions with me a month, which is crazy, it's unheard of. But I really wanted to do a lot of the mindset work with my clients to be able to help them to shift. You've also got the whole amplify suite of content, which talks about mindset mastery, sales authority, Platinum program building, as well as so much more how to be a better coach to. So if that's something that you really want to do that I really want to encourage you to book a call with me. And check out amplify if you go to Sue's chadwick.com, forward slash amplify, you can either apply straightaway or you can book a call to find out if it's right for you. And if you've got any questions and then just DM me at Suzanne Chadwick as well, and I'm more than happy to answer those for you. But I do think that creating a scalable business model is where you get more time freedom. And it also allows you to share your thought leadership and what you're here to do. So that's it for this week's podcast. Got any questions? Let me know if this episode resonated for you that I would love you to share it as well. But otherwise, I will see you next week.

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