I have 3 friends who “are their products.” What I mean is, they don’t sell a product, they sell themselves. So in order for them to make any income, they MUST spend time with their clients. This requires their personal time to generate revenue.
Dan Black is a dwarf who developed a very successful business many years ago performing at children’s birthday parties. He got a taste of working on the commercial level when he was hired to entertain at a local mall. About 25 years ago, he and I worked together developing a national marketing program that eventually found him working at malls across the country. After several years of this work, which was rewarding, yet stressful, Dan began to develop some health issues that ultimately caused him to not be able to travel as much. Again we began working on a business concept that would allow him to capitalize on his experience and talents, yet allow him to remain at home, behind a desk. This time it was a talent agency, wwwShortDwarf.com, working exclusively with dwarf talent. That’s what Dan does today which I believe is a very successful transition from “being the product” to selling a product that doesn’t require “you” to be there.
Ed Smith is a dear friend who has a successful executive coaching business. He’s in demand because he gets results for his cleints, however, in order for him to generate income, he is the product, and he has to be there. Ed recently published one book and probably has several others in him. I believe Ed will transition soon from totally “being the product” to selling books and leadership training materials to generate revenues. If you’re interested in his stuff, you can find him at www.OxygenForLeaders.com.
For the past 10+ years, Barry Miller has been my CPA. He has been a successful CPA and investment counselor for 30 years. When a client brings him a file folder or a bankers box full of papers, he goes to work… Guess what? In order for him to generate income, he has to spend his time working on these papers. Because he has diversified, and also provide investment products, has has built in some residual income sources that don’t require him to spend his time to generate income. We’ve discussed him offering related products to his current clients like bookkeeping services, and outsourcing this work to someone else. Obviously with this added income opportunity comes added responsibility and stress. I believe Barry is content with the size of his practice and enjoys life without adding more stress. His mix of “being the product” and selling investments works well for him.
My co-op teacher, Mr. Smith at Waverly High School told me many years ago to consider residual income when designing a business model. I have remembered that suggestion and have always designed something other than my time into the product I sell.
Food for thought from me… What are your thoughts?
thanks for the mention, not sure if we ever saw this when posted. yes, much is owed to Mark Bortz, holdplus.com, and
Premier Companies: Message On Hold, Social Media, Social Media Marketing, Social Media Traction, Marketing.
we learned so much about telemarketing, phone service, the importance of a telephone hold message and marketing our entertainment services. thank you mark, hold plus and premier! you rock!
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