TES 010 - Keys to Scaling Your Expert Business? - a podcast by Mel Abraham

In this Q&A session, we talk about the topic "Scaling a Expert Business" to answer the question sent in by Ron Reardon.

The question is "If a person has a high-end one-on-one coaching business, which normally coaching is not scalable; what recommendations do you have to scale what can be scaled?"

Scaling is one of the biggest challenges that service professionals have. For coaching business owners, there are four types of business models:

• Time Based: A model where you swap your limited hours for dollars.


• Product Based: You create products to do your coaching and those products are independent of you.


• Hybrid Based Model: A combination of time and product based model.


• License Based Model: A model where you create other coaches and certifications.

Scaling vs. Leveraging

When you scale a business, everything in it grows. When you leverage a business, the revenue and profitability increases with the help of what you have in place.

Scaling

Things such as marketing, system or process, concept of duplication can be scaled.

Scaling the Market

Automated Systems: Create once and deliver often by using automated tools. Clients will be able to come in, get value and take something away from these automated funnels. YouTube channels, podcasts and blogs can be used to create an experience that will help you gain loyalty of your clients.

Scaling Your Content: Re-purpose your content in different ways. For example: Recording it in a video. You can do the first webinar live and then use the recorded video over and over again.

Scaling the System

Create a formalized coaching process and make sure it is teachable. Then other people will do things for you in a sense of creating layers and levels of membership. For it to be teachable, it should be framework driven. The framework should be memorable, commercially viable, and valuable.

Concept of Duplication

Create products like worksheets, templates, guides, tools and kits that will help people go and do their own self coaching and self-assessment. Put such content online so that you don’t have to redeliver the content over and over again.

Leveraging

We can leverage our time and product, and we can also leverage through licensing.

Leveraging Time

Group Coaching: Instead of one-to-one coaching, have a structure in place so that you can do high level group coaching. Having more people means increasing your business in the same timeframe.

Forums: Create forums and communities where people trained in your methods will do some of the coaching for you. It will relieve you of some responsibilities.

Concept of Replays: Webinar replays will allow you to deliver something that has already been recorded and delivered before. The same value, connection and information will be delivered.

Leveraging Product

Take some of your information and productize it so it can go out to bigger groups in an economic efficient fashion. You can reach out to big groups with hundreds of people and give them the same information and tools at a much more leveraged level.

Leveraging Through Licensing

Take what you know and package it in a designation or certification. For a license fee, you can have certified people teach your process that is replicable. It allows people to get access to your information even when your time is limited.

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ABOUT MEL ABRAHAM

Mel is the founder of Business Breakthrough Academy and Thoughtpreneur Academy where he helps entrepreneurs bring their businesses to the world and build the lifestyle that they want. Mel is one the most sought after entrepreneurial mentor and strategic thinkers of our time. Unlike many other so called “business coaches”, Mel has lived everything he teaches and continues to do so. Mel has built, bought and sold numerous multimillion-dollar businesses for himself as well as his clients. As the author of The Entrepreneur’s Solution: The Modern Millionaire’s Path to More Profit, Fans & Freedom Entrepreneur, Mel’s strategies have helped build thousands of businesses and have generated hundreds of millions of dollars for his clients, ranging from large corporations to startups and small family-owned businesses.

Mel is a true believer in the entrepreneurial way of life and says that this “new frontier” is the paradigm that will shift society from simply existing to living life bigger, bolder and on their own terms.

Meet Mel at http://melabraham.com/

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THE ENTREPRENEUR'S SOLUTION

The Entrepreneur's Solution is a weekly entrepreneur, business, wealth and lifestyle show where entrepreneur, speaker and author Mel Abraham reveals all of his business and entrepreneur building strategies. Mel is one of our time's most sought after mentors and speakers that not only teaches but also lives what he teaches. Discover how to design, create and build your business so it gives you the life and lifestyle you want.

Subscribe to the free entrepreneurial podcast here: http://melabraham.com/podcast

The Entrepreneur's Solution Blog on Tumblr: http://melabraham.tumblr.com/

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