How can a service business thrive locally, have a global reach and create passive income? Read more…
Dear Jayne,
I'm contemplating a service industry that is locally based. I'm also interested in attaining global reach and creating passive income. How do I combine those two? - Lynne
The Internet is ideal for building a traditional service business (local or global) and creating passive income at the same time. The common denominator is marketing your expertise.
For the last several years I have been teaching psychotherapists, for example, how to be entrepreneurial and thrive in this economy. Therapists, like consultants, or other service-based professionals often get stuck in the "hour for dollars" business model. That can seriously limit your income and your ability to help your clients because there is only so much of you to go around.
When professionals make the shift in mind set to understand that what people are buying is access to their expertise, their experience and attention, they can create a whole realm of innovative ways to provide value to their clients.
This is the Information Age. Sales of information products online is growing at an exponential rate. Create a digital information product that can purchased and delivered online and you are well on your way to passive income. Plus you've "monetized" your biggest marketing expense (your website) and turned it into a money maker, instead of just another expense.
Of course, there's more to being successful online than just writing an ebook and offering it online. Successful Web marketing ALWAYS starts with Finding a Market and ends with creating a product that market wants.
As for building a traditional service business in conjunction with marketing information? It's a natural fit! Most service businesses (e.g. consulting, construction) are what I would call "big ticket" sales, usually have a long sales cycle. The Permission-Based Marketing System that we set up for business owners combines both business models of face-to-face service and information marketing. (Look for a Permission-Based Marketing System, Step-by-Step Course to create your own, coming in June, 2010!)
You will make more money and put in a fraction of the effort when you give your prospects choices and opportunities to get to know you, know your work and your expertise and to discover whether you are a good fit.
The very good news is, that your Permission-based Marketing System is designed to automatically attract, engage, qualify and build a relationship with your ideal client with very little work on your part. You then can work with the ones you really want to work with.
Stay tuned for more on the Permission-Based Marketing System!
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