Broken Business Models
I talk with a lot of service based business owners with broken business models. Here are common themes:
can’t find time for themselves
overworked with too much too do
can’t find the clients they want
working in lots of directions but getting no results.
Do you see yourself in that picture?
Many of these problems have the same root problem: business owners who are practicing broken business models.
Three Business Models that Don’t Work
If you are stressed out, over-worked and not getting the results you want, I bet you fall into one of these business models:
The You’ve Gotta Problem? I’ve Gotta Answer Model–This is a business owner who is trying to meet everyone’s needs. Instead of clearly defining what they do and the services they provide, they tailor every product or service sold to the wants and desire of the individual client. This isn’t about providing good value and over-delivering. This is about trying to be everything to everybody. I once visited a bookstore that sold books, published books and also did book-keeping. I know the word ‘book’ is in all those services…but seriously? Would you be surprised to know they are no longer in business? In the end… you wind up diluting the service you provide.
The Solution~Instead, clearly define what you do and what your boundaries are. Then look for the clients who need what you offer. Refer everyone else to someone who specializes in that. You will both be happier.
The One Man Show Model–Solo-preneur doesn’t mean that you are flying solo but many business owners treat it that way. If you don’t have a team behind you that supports you, I beat you are totally stressed out. Are you doing lots of things in your business just because you can, even though you aren’t an expert at it? Do you do all your book-keeping even though you hate numbers? Are you building your own website and doing all your own social media because technology is so simple these days anyone can do it?
The Solution~Instead, recognize your super-power and live in that arena as much as possible. Manage the other areas by hiring someone who has expertise in that area and actually likes doing it. Your business will thank you for it.
The Wing and a Prayer Model–You are creative and high energy. You are great at starting something but not so great at following through. With a million ideas floating around your brain, who has time to create a plan and decide where you want to be in 6 months or a year? You operate in the moment and are often in crisis mode when you are blindsided by unexpected events.
The Solution~Instead, take some time out from working in your business to work on your business. Set aside specific times to create an overall plan for the the next week, month and year.
Want more ways to establish your business? Want some coaching to increase your confidence and knowledge? Here’s my Building Your Business Program which includes 2 coaching sessions:
If you have a dream, I’m here to help you make it happen. Let’s talk soon.
Lynne is one of my favorite people. She forced me to make some introspective decisions – when I least wanted to and changed the trajectory of my career. She is a professional coach, author and one of the coolest people I know. ~Betsy Mathews