The Right-Brain Business Plan by Jennifer Lee

Author:Jennifer Lee
Language: eng
Format: epub, azw3
ISBN: 9781577319450
Publisher: New World Library

You did a great job identifying income opportunities in the previous exercise. Let’s continue brainstorming additional moola-making methods. Reflect back to your Big-Vision Visualization from chapter 2 and remember how it felt to imagine living with abundance — what it was like to envision people happily paying you money again and again. What other products or services could they pay you for? Look back at your Big-Vision Collage to see if that sparks a few more moola-making methods. If you need ideas for more ways to bring home the bacon, the following are some basic models for making money.

Active Moola-Making Methods

With active moola-making methods, you’ve got your hands busily and directly in your work in order to generate income in exchange for the time it takes to provide your services or make your goods.

Money for time. If you’re a service-based business, like a counselor, coach, massage therapist, personal trainer, graphic designer, or consultant, you most likely charge by the hour for one-on-one sessions with your clients. In this scenario, you make money only while you’re providing your service. You could create packages for your services so that your perfect customers buy a discounted series. They’d catch a break, and you’d ensure a steadier flow of income. To get more bang for your money-for-time buck, consider offering services such as workshops, courses, events, or group sessions that allow you to reach more people and bring in more money for the same amount of your time.

Money for goods. If you’re selling products or tangible goods, you’ll probably charge by the item or by groupings of items. You’ll need to factor in the cost of making your goods, whether handmade or manufactured, in order to make a profit. Take a look at the pricing section for more suggestions on how to determine pricing. If you’re selling handmade pieces, perhaps you charge more because of their unique artisanal quality. If you want to limit the time you spend making things, you could explore the possibility of manufacturing your items or outsourcing production.

Commissioned work. If you’re an artist or crafter, you can offer, in addition to the readymade goods you keep in stock, personalized pieces on commission. Usually these are priced at a premium because you are making a one-of-a-kind object for your customer.

Passive Moola-Making Methods

With passive moola-making methods, you may have your hands in the work upfront, but once that initial time and effort are invested, you can reap the benefits almost without lifting a finger. In some passive moola-making methods, you don’t have your hands in the work at all.

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