The most prominent consultants will tell you that the 1-to-many model is more profitable and scalable than the 1-to-1 model. Why? Because it requires less work and generates 100xs as much profit.
The negatives of incremental growth:
- Servicing one client at a time
- Playing too small by trying to build your business just within your community
- Limiting growth and productivity by doing everything yourself (shameless hint: hire a Virtual Assistant!)
- Looking only one step ahead
Here are our top 3 ways to push your small idea into a big, more profitable one:
1) Discover new models: Could you be doing other things in addition to, but complementary with your current offerings? If you continue to wait to expand your offerings until something gets “a little better” can mean that you end up putting off the big moves for good.
2) Build your behind-the-scenes team: Having the right supporting cast is essential to any business person’s success. No man is an island and no successful entrepreneur builds a company as a one man band. You may not have the money right now to hire a full time staff but building a great relationship with a reliable virtual assistant company can produce the same great results.
3) Align yourself with like-minded entrepreneurs: You do not always have to be in competition with everyone around you. Savvy entrepreneurs actively seek out other similar souls, in their own industry and beyond, to build a better network, brainstorm and sometimes even come up with a joint venture that produces some amazing results.