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Five Ways

to Make More Money in Your

Service-Based Business

When you opened your service-based business,

chances are you did so with the intention of helping

people. After all, isn’t that what a service-based

business is founded upon? Unfortunately, when

providing a service is the way of your income, you

are limited by the number of hours in the day and

by your own physical energy. Or are you? Here

are 5 other ways to make money in your service-

based business outside of the one-to-one service.

Before I share what those ways are, let’s first make

sure we all understand what I mean by the 1:1. This

is when you, the service provider, provide a direct

service – like coaching or consulting – to your client

or customer. In other words, you are trading hours

for dollars at a 1:1 ratio. The downfall of course is

that you have the same amount of hours in the day

so at some point, you will max out on how many

you can serve.

One easyway toboost your bottom linewithout

breaking out of this 1:1 mold is charge more

per encoun


Traditionally speaking, service

providers, especially new business owners, don’t

charge enough so this is a great place to start.

But how do you make more money without relying

on this 1:1 model?

One of those ways is to shift from the 1:1

model to the groupmodel.

The groupmodel can

show up in a variety of ways. You can have group

coaching or consulting programs, you can conduct

educational events to a group, or you could even

create a mastermind and not only leverage the

power of the group but the power of the additional

brilliance of others in the group.

The group setting will certainly leverage your time

in a much more efficient manner but you are still

trading time for dollars – albeit much more effec-

tively. The next step beyond is to learn how to

leverage both your time AND your expertise which

brings us to another way to make more money –

actually the final 3 ways.

One way to leverage your time and expertise

is to create passive revenue programs and

info products.

These are on-demand and

downloadable programs that you make once and

can sell over and over without additional effort.

A second way to leverage your time and

expertise is to certifyothers inyour particular

technique or method.

By doing this, you are

duplicating your efforts. Now, you won’t garner

100% of the exchange here but it can be a very

effective passive revenue stream.

Finally, youmay want to consider franchising.

Unlike certification programs where

certified individuals will operate

under their own business

umbrella, a franchise will

truly operate completely

in your way and will

likely run with your

business name. This

By Holly Kile

As a business owner, we’re always looking for ways to increase the bottom line but

as a service provider, coming up with new ways to earn might be a challenge.




NOV. 2015


Core Business Strategies