I’ve missed a few blog posts for the 30 Day Blog Challenge so I’m going to combine a few together this week and catch up. So here goes, today I’m tackling Challenge 10 and 11.
Blog Challenge 10: What are the key ways in which you want to make money online in your chosen business?
Put very simply, I’m going to create products and services that solve people’s problems.
The Hers By Design core Services will be:
- Brand consulting
- Logo and artwork design
- Website design
- Social Media platform design for company pages
The Hers By Design Products will include:
- eGuides for DIY branding exercises
- Online and physical tutorials/workshops in creating websites with WordPress
- Promote and sell other peoples products and services that will benefit my customer base for commissions. (These will be closely related to the topic of branding, design and websites but also other tools and coaches that will appeal to women with small businesses.)
- Advertising; Down the line once I’ve built credibility I’ll consider revenue from advertising on my website.
Blog Challenge 11: Which business model is best for you and what one revenue stream is most feasible?
My Business Model has a short to medium term focus on providing excellent branding, design and web development service first. I will build a small team to help me deliver these services as I know that trying to do it all myself will impact negatively, namely:
- my ability to deliver exceptional quality (I can find people who have stronger skills than I have)
- my ability to deliver the quantity required to generate a decent monthly income (there’s only so much I can do in a day!)
- where is the lifestyle and freedom in business?!
- I’d have no time to focus on my business as I’d be too busy working in it.
As I build up the skills and experience in providing these services and support to women in business, have a proven portfolio of web and design work and happy customers and have started to build a reputation and a solid following of potential customers through my blog then I will begin to focus on the residual revenue streams such as:
- selling other peoples products and services by promoting them to my customer base as an affiliate and earn commissions through these referrals.
- Produce my first e-products. I will probably start with a guide addressing common problems that I’ve seen my customers experiencing when brainstorming and forming their brand.
- Next I would look at putting together a workshop for women who want to ‘do it themselves’ taking them through the steps to get their own brand, design and website up and running on a shoe-string.
- If this workshop was really popular I’d look at packaging this as an online program at an even more affordable price.
This is my high level plan for the next 2 years and it’s all captured in a business plan, which needs to be updated – looking at this now! One thing I’ve learned over the past few years preparing for this journey that I’m now embarking on is that a business plan is very much a living and breathing document. It must always be referred to so that you stay on the right track and must always be updated as you go because sometimes forks in the road take you in new exciting directions, which is fine, but it still needs to go on your road-map.
As always, I’m keen to hear your thoughts, good or bad!
You may think ‘yep she’s got something there, she could pull it off’ or you may think ‘it’s already been done’ or ‘people aren’t going to pay for that’ or ‘how will you make a profit when you have to pay a team?’ – perhaps you think ‘why is she telling me her business plan?’
Because I believe good things come from sharing that’s why 🙂