Yes! I’m so glad you are here because this is where things start to get really fun. We’re going to actually map out your business model as a whole.
Whoa! Did that sound really overwhelming? Don’t close your browser! It’s not as scary as it sounds, and I dare say it's actually fun.
First, let's break this down for you into some really easy basics. Our goal here is to start thinking about your unique strengths and preferences and how they fit into the type of business you want to create with your practice.
How do you like to show up in the world? How do you like to work with clients?
Are you an introvert? Extrovert? Do you love hosting big events or would you rather hang out in a small, intimate group?
Do you like to work with clients for the long-term or are you more into one-day, intensive deep dives?
How are your clients going to work with you? In person, 1:1? Online? Group classes?
See? There are some things we need to nail down. ;)
(You don’t need to have all the answers right now, but I do want you to start thinking about these questions as you dream about how you will design your business.)
Did you catch that? YOU get to design YOUR business.
You don’t need to set it up exactly like anybody else’s. You can take the parts that work for you and ditch the rest.
Now, let’s get familiar with the basics of the four most common wellness business models that are working right now, not from 20 years ago, so you can start thinking about how they fit with your personality, your strengths and your preferences.
As you read through each description, remember: you don’t need to decide right now which of these models you want to build your business on. We’re in the exploratory phase, and at the end of this section, I’ll share with you a way that you can take the best of all of these to create your ideal business model.
So without further ado...
Here are the 4 major types of delivery for your Expertise and your Education (Because whether you choose to believe it yet or not, you are an expert, my friend!):
The Client-Focused business model is what you’re probably most familiar with. This is the traditional 1:1 model that many wellness professionals operate under, working with clients on an individual basis, or in group classes.
It’s a great way to get started and allows you to build authority and your confidence as you work with clients. You’ll also be able to build up your collection of case studies and stories to use (compliantly, of course) in your marketing, which is invaluable.
However, this isn’t a great business model to devote 100% of your time to if you want to grow or expand your business. There are only so many clients you can see 1:1 in a week, after all! Although seeing clients 1:1 is usually tolerated just fine by both extroverts and introverts, you'll definitely reach a "cap" of how many clients you can see on a daily basis if you tend to be introverted, so plan accordingly.
If you're going about this the traditional way, you’ll also have a lot of one-time clients, which means you’ll need to spend a sizable chunk of your work time on marketing and looking for new clients.
The name says it all! With this model, you’re selling a product that other people want to buy, whether it’s an ebook, digital course, essential oils, other wellness products, or supplements.
In my own practice, I’ve incorporated this model in the form of selling digital courses on nutrition as well as specific health products that my audience wanted to learn about. (Beautycounter and doTERRA essential oils, specifically.)
While a product-focused business can be really efficient and scalable, it isn’t seamless. Without any built-in support and accountability, customers may struggle to actually use the products they’ve purchased to get results.
Imagine my surprise and sadness when I realized that only about 10% of my digital course students finished the course material! Human nature is to prefer accountability or support, so keep that in mind if you're thinking of pursuing a product-focused business model. Your clients will get the best results if you're very intentional about supporting them in the implementation of the material or products.
In terms of the amount of output required from you, a product-focused business model would be most appropriate for someone who leans towards being introverted, as many products can be created and automated online. If you're more extroverted, you'll want to structure your product-based business with in-person events in addition to your digital products.
If you love being around people and working in person with groups, an event-focused business model could be a great fit for you.
Introverts...skip this section. ;)
Through live events like workshops, boot camps, and retreats, you can provide your clients with a deep-dive, transformational experience that has a lasting impact on their lives and creates tightly bonded relationships.
Of course, events are a one-time transaction, so while you may get repeat customers, recurring revenue is not built into this business model.
Saving the best for last...The membership-focused business model is my favorite.
Because it takes the best parts of the other models and molds them together in ANY WAY that you want.
From masterminds and online courses to paid online communities and group coaching, you’ll create your own custom framework in which you continually support your dream clients over the long-term while they take action on your content and get massive results. (Don't sweat, I'll teach you how...)
Within the membership business model, you decide what blend of content, products and services from the other categories to offer your members, and then you invite them to continually immerse themselves in your life-changing content on an ongoing basis instead of a one-time transaction.
Because changing someone’s life, starting with their health and wellness, takes longer than one appointment in an office. Right?
It’s an ongoing process of discovery and action, and the best results for your members will happen over a period of months and even years as they continually get support from you and their fellow members.
If you're nervous just thinking about what the technology would look like to create a membership, let me give you an example of the world's simplest option so you can see just how easy this can be:
A recurring PayPal button link that automatically charges a monthly fee to your members in exchange for access to a private Facebook group where you present all of the content each month. No technology hurdles with that one! You can have it set up in 20 minutes.
Perhaps you’d rather offer ebooks, live workshops and 1:1 coaching on Zoom. Perfect. Let's make that into your membership.
Or you might decide that a boot camp and digital course along with annual retreats is the right combination for you. Love it. Let's go!
Maybe you like the format of a membership like mine, which is a step-by-step online course inside of a membership hub with ongoing monthly Zoom trainings, Q&A sessions, and Live (virtual) community engagement to keep the members continually making progress with support and accountability.
See? The possibilities for a membership are endless.
One of the really fabulous things about the membership model is that over time, your community can become almost self-sustaining. It’s not unusual for members in these types of communities to work together to support and mentor each other for years.
Can you imagine the ripple effect and impact of helping your clients and members transform over years instead of just looking for another “quick fix”? Incredible.
Now that you know the models, do any of these stand out as a definite YES or NO for you? Which catches your attention? Client-focused? Products? Events? Memberships?
Take a couple of minutes to choose the two that resonate the most with you, then grab a piece of paper and write them down. Remember, this isn’t a decision that is set in stone. You can always make adjustments as we go along. The important thing is that you are doing the work and making progress! Don’t overthink this.
Okay, got your top two? Head on over to the next page, because next we’re going to look at how you can take these basic building blocks and easily turn them into a full business framework, AKA how you can make money.