Three Business Models to Skyrocket Your Revenue

As creatives, we desire to create and innovate in our own way, but as business owners, we’re wise to choose proven paths to success that deliver positive results. 

Following a solid, proven business model is one of the best ways to accelerate your growth. You might be overwhelmed by how much you’ve got to do, but you don’t have to stay that way. Choosing a robust business model hones your focus so you know exactly what to do at every phase of your journey. Instead of trying to figure it all out on your own, you have markers to know where (and why) to invest your time and resources.

Having a great business model also highlights what’s working and where you need to step it up a notch or three. Instead of just hoping you’re doing enough, you’re able to measure your growth by the number of subscribers, sign-ups, website visitors, and other metrics connected to your business model. You can’t get anywhere groping in the dark; you have to shine some light on your business and deal with the problem areas.

A lot of businesses are totally different, so how do you know which model is right for you? By looking at different options and finding the perfect fit that makes you beam with satisfaction.

Here we go:

Subscription Business Model

In this model, customers commit to paying you repeatedly for a product or service.

The Honest Company does this with their monthly diaper subscriptions, a super useful service for moms out there.

This business model works with service-based companies too. You can set up recurring payments for monthly, quarterly, and yearly subscription plans.

Take it a step further. Add perks like goodie boxes to pamper and delight your customers.

For instance, if you’re a health coach, you can add a quarterly subscription box to your regular offerings. Fill it with your favorite goodies, books, exercise gear, and anything else your customers would love to buy. Shower them with amazing value at great prices so they’re happy to stay loyal to you.

The subscription business model works if you have a business where you can sell the same thing at regular intervals. Whether it’s a product, service, or a combination of the two, this might be perfect for your recurring offerings.

Feel free to test this on a small scale and then expand if you find it’s right for you.

Freemium Business Model

This involves offering a part of your business for free and eventually charging for upgraded or premium services. It’s often linked to companies like Netflix, but there’re many ways you can use this model.

Consider offering a free course with an up-sell into your one-on-one coaching or giving free advice on your YouTube channel that leads to a landing page for a paid course.

This model works if you have a free part of your business to use upfront. Package your brilliance as a 30-day free trial, a free digital download, or something else to entice your ideal customers. Give them a taste of your genius so they’re eager for your deluxe programs and services.

Most major online companies use the freemium business model, so there’s room for you too if it fits your vision and mission.

Marketplace Business Model

In this model, you act as a middleman and sell other people’s products on your site.

Huckberry does this. A company that primarily sells outdoor gear, they gather their favorite products from different companies and sell them through their site.

Got good taste? Why not sell your favorite picks? You can even make them bonus perks for your regular offerings.

The marketplace business model works if you can find products you love and you want to explore this path.

It might not work with a service, but it’s great for selling other companies’ products on your own site and making a profit!

Take a good look at the companies you admire and the business models that appeal to you. What can you learn from their wisdom to accelerate your business growth in 2018 and beyond? What can you try as you explore something new or reshape something that’s not yet seamless?

You can change a lot in life and business when you’re courageous, determined, and focused. It’s not about doing something just for applause or profit, but figuring out why it matters to you, how it’s going to affect your clients and customers, and why now is the right time to do it.

In the end, accelerating your business growth is finding the sweet spot between what your customers need and what you’re uniquely positioned to provide. Yes, you’ll grow your bottom line, but more importantly, you’ll deliver value that makes your customers happier, brighter, and more fulfilled.

Isn’t that worth striving for?

I’d love to hear from you. Share your thoughts in the comments below.