Hey all, I'm curious to know what other business owners do when it comes to investing profits back into the business (vs. taking it out as revenue). As context, I run a small business (me, my wife, a VA) and we had a really solid year last year (gross revenue north of £500k with a very solid profit margin as we are a lightweight, service-based biz). We use the "Profit First" operating model, meaning we pay ourselves first, so we draw a nice salary and also pay ourselves quarterly bonuses when our "profit" pot has extra money. Now we're winding down the year, trying to think about investments we could make to grow and improve the business (customer research, website development, content strategy, etc.) A quick Google leads me to believe the range is around 2.5% to 5% of profit for B2B and slightly higher, maybe 5-10% for B2C. But I'm much more curious to hear from fellow business owners on a similar path. Anyone out there? Thanks!
In case you missed the community call today, Jon dropped some GREAT books that can inspire us as we navigate our facilitation journey! Check them out here 👇 - Traffic Secrets by Russell Brunson - Cashvertising by Drew Eric Whitman - Made to Stick by Chip and Dan Heath If you've read any of them, feel free to share your knowledge and insights with us!! Happy Reading 📚🥳
@Ömür Yanıkoğlu hope you're enjoying it! I run the "Make Time at Work" at training and consulting business, so I'm quite biased but it's a great read :)
Dear all, in yesterdays call we had a question around a follow-up process with our clients. As Rebecca mentioned AJ & Smart don't follow up. Their offer is just the workshop, maybe the Who-What-When and that's all. I would like to know if you partner or recommend with agencies or consultants to help your clients with the next steps? How do you handle this in the best case? As I mentioned last week, I want to change my business model a bit and I only want to work in my zone of genius, for example workshops for problem discovery and identification (thanks to Jonathan for the impulse). Since last week I was wondering what to do with the information out of a workshop like this. Will my client be able to handle it by themselves? Looking forward to your ideas and thoughts.
Great question, and not easy to answer :) To preface, I mainly offer 'trainings' to clients, not as many 'workshops' (which I take to be more open-ended and generative). For us, it usually makes sense to have some type of Add-on or Follow-up offer, as it's not only valuable to reinforce the learning aspect of the training, it's also very profitable as you are upselling to an existing client, which is way easier than selling to a new client. So we have various types of these sessions, depending on the training, and usually are a bit of reflection, a bit of consolidation of learning, and a bit of 'advanced' content on the same topic. If I sell a training/workshop for say $4,500, then I'd offer a follow-up type of thing about 4-6 weeks later and price it around $2,250.
@Svenja Floberg Thiel Mainly trainings on https://maketime.blog/ Also https://www.siyglobal.com/programs Plus custom trainings I've designed like this: https://www.42courses.com/courses/sustainable-productivity
Hey, fellow workshop nerds! I’m thrilled to join this club of facilitation fanatics. You guys are my people! But enough about me. Let’s talk about you. What kind of workshops do you run? How do you deal with difficult participants? What are some of the resources you use? And most importantly, where do you get your coffee? I’m dying to hear from you and chat. Drop a comment below or slide into my DMs. Let’s get to know each other and make this club awesome!
Hey Facilitators! 👋 We’ve got something super exciting lined up for you! We’re hosting a live Q&A session this Wednesday, July 19th @7pm CEST with the fantastic Angela Parker, who is an EXTREMELY successful executive coach and workshop facilitator. Meet Angela: After 15 years in the fitness industry, Angela sold her business and moved into coaching. But, although she loved what she did, she was struggling to reach her lofty financial goals. She tripled her business within three months of completing the Workshopper Master Program (AJ&Smarts higher-tiered program) by incorporating Facilitation into her practice Now, she’s carved out a highly lucrative niche for herself in the facilitation industry. So how did she do it? Angela is going to share her roller-coaster journey with us, and trust us, it’s a story you don’t want to miss! In this live Q&A, you'll also get the inside scoop on what our Workshopper Master program is really like, and how it enabled Angela to grow her business. 👉 So, here’s the plan: 📅 When? Wednesday, July 19th at 7pm CEST. 🗺️ Where? LIVE on Zoom: https://us06web.zoom.us/webinar/register/7016895859297/WN_zsRsBxJCQ4yGwb64nKTTVw This is a golden opportunity to glean insights, ask questions, and see how you can chart a similar course. Will I see you there?