Manage episode 163121898 series 1281827
In this episode, #1 Bestselling Author and Highly Acclaimed business & Entrepreneur Expert, Mel Abraham talks about the concept of leveraging and scaling a Thoughtpreneur business which is about sharing knowledge and ideas in the marketplace to have an impact and make money while doing it.The Practice Spectrum
It determines the level of involvement/process and access to intellectual property that you have. Your expert business might fall in one or more of these categories:
- 1 to 1: You share your packaged thoughts on a singular basis as a coach or a trainer.
- 1 to Many: You have a bit more process when you deliver 1 to many in the form of live events or webinars.
- 1 to Few: You deliver in small groups and they have more access to the knowledge.
- Many to Many: Train people to do what you do; certify and license them to deliver your expertise.
- Time: A traditional model where we sell our limited hours for financial returns.
- Product: To get over time limitations, you take what you know and create a product out of it to package and sell.
- Hybrid: When you give a bit of your time as well as products, the model becomes hybrid.
- License: After systematizing your knowledge, teach it to someone and give them the license to use the package.
Scaling grows your revenue but it also increases the expenses. Here are the things that you can scale:
- Marketing: Putting in automated funnels of connection with the market will allow you to scale your marketing process.
- System: You can create a systematized framework which someone else can use and they can do the work that you are doing.
- Duplication: Create guides and online programs that duplicates the experience without the need to deliver them repeatedly.
- Licensing: Create a certification so that you can license your intellectual.
Leveraging will help you to deliver better, faster and in more ways. The things that you can leverage are:
- Time: Instead of doing 1 on 1 switch to 1 to few or many.
- Products: Create jump start products that gets people in the process.
- Groups: This is when you deliver in groups that can be of different sizes.
- Licensing: After having a well-developed portfolio of intellectual property, license it.
ABOUT MEL ABRAHAM
Mel is the founder of Business Breakthrough Academy and Thoughtpreneur Academy where he helps entrepreneurs bring their businesses to the world and build the lifestyle that they want. Mel is one the most sought after entrepreneurial mentor and strategic thinkers of our time. Unlike many other so called “business coaches”, Mel has lived everything he teaches and continues to do so. Mel has built, bought and sold numerous multimillion-dollar businesses for himself as well as his clients. As the author of The Entrepreneur’s Solution: The Modern Millionaire’s Path to More Profit, Fans & Freedom Entrepreneur, Mel’s strategies have helped build thousands of businesses and have generated hundreds of millions of dollars for his clients, ranging from large corporations to startups and small family-owned businesses.
Mel is a true believer in the entrepreneurial way of life and says that this “new frontier” is the paradigm that will shift society from simply existing to living life bigger, bolder and on their own terms.
Meet Mel at http://melabraham.com/
THE ENTREPRENEUR'S SOLUTION
The Entrepreneur's Solution is a weekly entrepreneur, business, wealth and lifestyle show where entrepreneur, speaker and author Mel Abraham reveals all of his business and entrepreneur building strategies. Mel is one of our time's most sought after mentors and speakers that not only teaches but also lives what he teaches. Discover how to design, create and build your business so it gives you the life and lifestyle you want.
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