005: The Passion Based Business Plan Part 2

Welcome back to the podcast! 

In episode 4, I introduced you to the Idea Work/Lifestyle Template, and if you haven’t already you can get your copy inside the free gift 57 Ways To Monetize Your Gifts, the link to that template and the one I have you for you today is inside that PDF.

Again you can grab your copy at  http://getpaidforyourcreativity.com/57waysgift or in the show notes

Just a quick recap from Episode 004: The Passion Based Business Plan Part 1.

On that episode, I asked four questions to consider as you’re laying the foundation for your ideal work lifestyle. The first…

When you think of a typical day in your ideal life what’s happening? For example: What’s your morning like? What are you doing in the afternoon? What time do you stop working?

Where do live? By the beach, in the mountains, do you split your time between two or more places living and working as a digital nomad?

Describe your day-to-day work/life experiences? How much time do you spend serving clients? How much time do you allow yourself to create new content? How much personal time do you have? How are you spending that personal time?

What are the top 3 personal goals you want to accomplish in the next 12 months?

How deep are you going with your clients? Again, the more you emphasize service and the quality of that service, the more you can charge? What transformation do your customers expect? What can you deliver that’s unique to you? Do you see yourself meeting clients live or on the internet? How many clients or customers are you currently serving? How many do you want to serve?

I encourage you not to gloss over these questions but to take them seriously because getting clear on how you want to live effects the choices you make, everything from deciding what to sell, who you want to work with, to how you’ll find prospective clients and customers.

But more importantly how you’re structuring your business to support your ideal life.

For example, you might think that running a membership site could be your ticket to financial freedom, but in reality, you might discover that being responsible for a large group of people constantly asking for your direct support too daunting.

Mind you I’m not telling you to shelf the idea of a paid membership community. But as you’re trying to figure out what works best you, you want to know the areas and potential pitfalls of a particular business model before you decide to jump in both feet.

So again, do take some time and work on the Idea Work/Lifestyle Template before moving on the Income Idea Generator sheet, also found in today’s sponsored freebie.

You’ll find it under Monetizing Your Gifts Key #32

For the sake of time I’m not going to read all 20, you can see the complete list when you download it.

Instead what I want to focus on today is the Income Generator Exercise template located under Key #36 and that’s what we’re going to work through on today’s episode then you can refer back to the Income Idea Generator sheet for additional ideas and inspiration.

So let’s get started:

Income Generator Exercise!
The single fastest way to generate more cash is to create a synergetic match between what you love, your talents, skills, and gifts and match them to the desires of the people you currently serve and you hope to serve in the future.

In this worksheet, we’ll explore your current resources (i.e. equipment, current clientele, education/knowledge, etc) and the deliverables your clients have told you their willing to pay for.

What do I have? List your resources, people, equipment, knowledge, connections.

This can be people you know also don’t underestimate the power of your network, everyone from the people you follow and who follow you on social media to your email list (both personal and professional) Your next joint venture partner could be a direct message away.

Obviously, you’ll to list all of your education and I’m not necessarily talking degrees here, I’m talking certifications, workshops, books you’ve read, coaches, mentors or other teachers you’ve studied with.

Have you been interviewed on any podcasts? List them. Spoken at any networking groups? List them. Of course, if you’ve delivered any kind presentations both large or small, even if you think it’s insignificant, list it. Are you a published author? Contributed any writing to blogs, or anthologies or reports? List it Do you have a Facebook group? Podcast? Or an active blog What equipment do you have that’s necessary to perform your business?

In my experience, we can forget or gloss over our accomplishments and resources which is a huge disservice to us and that’s why I felt it important to include in this exercise because I want you to have a constant reminder of what you have available at your fingertips, moving on…

Who am I? And I want to invite to expand your response from external skills or talents, think internal characteristics like.

Are you empathetic, or highly intuitive? Are you a natural connector, do you love breaking down complex ideas making it easier for people to understand?

List your accomplishments What have you accomplished that people would love to learn? What are your top 3 insider secrets or tips? Don't underestimate this, this could be your secret sauce!

Next…

What does my ideal customer want and how do they want it delivered? Do they want to work with me one-on-one? Do they want classes, workshops or boot camps, private or group retreats? Do they want items shipped directly to their home? Do they want an online forum? Email access? Home study program?

Now I realize these questions may be a little trickier to answer unless you’re already working with your ideal people. In that case, you can reach out to them preferably by telephone and ask them.

If not, again you have your network list you just created and start by reaching out to people that you feel would be a fit to work with you.

Finally, what can I do to wow my customers and turn them into repeat clients? This is really important so don’t skip this. The deeper you can go, the higher you can elevate the level service to meet and exceed their expectations the easier it will be to charge premium prices.

Now as an extra special bonus I have another template for you called Your Personal Income Portfolio In Less Than 30 Minutes!

You can use to take one core idea, talent or service, and explore an additional four ways to generate income, for a total of 5 income ideas you could employ in your business.

Let’s recap today’s episode:

Listen to Episode 4 if you haven’t already, download and complete the Ideal Work/Lifestyle Template.

Next, download the Income Generator Exercise to get clarity on your resources, network, talents, and skills.

Finally, review the Income Idea Generator (featuring 20+ ideas) to inspire you and the Personal Income Portfolio In Less Than 30 Minutes referring back the Income Generator Exercise and Income Idea Generator

Lastly, you can get your hands on all of the templates discussed on this podcast episode as well as episode four by going to http://getpaidforyourcreativity.com/57waysgift or in the show notes for today’s episode.

Show Notes for this Episode

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