If I asked you right now, “Is your revenue goal high enough to pay yourself…
Are you thinking about designing a 100K scalable offer for your service-based business. For some reaching 100K per annum in business is the ultimate goal, but it can mean they are working non-stop or having to juggle lots of different offers. What if you could make 100K from just one, scalable, offer? It might allow you to double the revenue in your business without having to double your workload. It might allow you to reduce the amount you spend delivering one-to-one services, whilst still making more money. And it could also offer you the opportunity to help a lot more people or businesses. Well there is no reason you can’t design a 100k scalable offer for your service-based business. But you need to intentionally design it rather than just listening to the gurus online saying “start a membership” or “create a course”. Keep on reading to find out more about designing a 100K scalable offer as a service provider.
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What a 100K scalable offer actually means if you’re a service provider
Before we delve into designing a 100K scalable offer as a service provider, I want to make sure we are all on the same page about scalable offers. I go into more detail about growing a business and scaling a business here but the main difference is that when you are growing your business there is a direct relationship between time and money. You are trading time for money and to grow your business (revenue-wise), you’ll have to work more hours (or increase your prices). Whereas when you are scaling a business you move from working one-to-one to one-to-many. You have the ability to be able to work with multiple clients or customers at the same time, or you have the ability to create something once and then be paid for it over and over again.
In order to scale your business, you’ll need a scalable offer aka something you can sell that will mean you are able to work in a one-to-many way. Some scalable offers will allow you to achieve passive income, where you are able to make money without having to do more work. But there are many scalable offers that still require the service provider to actively be working, but they’ll work in a leveraged one-to-many way. For example, it could be they have a mastermind where they do calls with 10 people at a time or it could be they have a membership where they have hundreds or thousands of members attending a live training or consuming a new resource.
So a 100K scalable offer is where one offer, all by itself, is able to generate 100,000 per annum for a business.
DESIGNING A 100K SCALABLE OFFER: A STRATEGIC GUIDE FOR SERVICE PROVIDERS
1. Get clear on the purpose for designing a 100K scalable offer for your business
As a service provider, I can bet you’ve heard enough people telling you that you need to scale your business and very often they’ll then also tell you exactly how you should be scaling. In most cases, whether that expert is telling you to start a group programme, membership or course that will conveniently what they also help business owners with. Before you even think about what scalable offer you should add into your business you need to get clear on why you want a 100K scalable offer in the first place.
I’ll take a wild guess and say one of the reasons is “You want more money”, but that is just scratching the service. Does it matter to you whether it is passive income or not? Are you interested in having a monthly recurring revenue or not?
Outside of making more money what else do you want to gain from a scalable offer? Is the ultimate hope to be able to work with less clients one-to-one? Do you want to ultimately work less? Are you driven to help more clients or customers through your business? Do you want a signature offer that will help you to be seen as an authority in your industry.
At this point the more honest you can be able your reasoning behind wanting to design a 100K scalable offer the better. The more honest you are about what matters to you, the easier it will be to analyse possible 100K scalable offers and decide what is and isn’t a good option for you.
2. Consider the implications of the different scalable offers
For every different scalable offer there are implications. They’ll be implications in relation to money, lifestyle, marketing and sales, and operations. It’s your responsibility to consider the implications, whilst keeping your purpose for a 100K scalable offer in mind, to see what does and doesn’t make sense for your service-based business.
Implication #1: Money
Since you are reading this, I’m going to assume you want to make 100K from your scalable offer, but there are still a number of other factors to consider.
Revenue versus profit – Scalable offers all have different profit margins. Just because you have a scalable offer that can generate 100K in revenue, don’t expect to be making 100k in profit. Some obvious scalable offers with smaller profit margins is anything in-person (think workshops, events, conferences and retreats). This is due to the costs of putting on something in-person. However, even something that is online can have lower than anticipated profit margins when you properly consider the creation and delivery implications. For example, if a membership gets to the point where you need a community manager or have other people delivering in the membership that will have an impact on your profit margins.
How you receive the revenue across the year – Just because a scalable offer can generate 100K in a year doesn’t mean you’ll be making 8K from it every month. Whilst there are some scalable offers that mean you can get a monthly recurring revenue (mastermind, membership, software) there are other scalable offers that will mean there are revenue highs and lows throughout the year. If you decide to have a group programme that you do in cohorts or you decide to market your course via launches then it is very common to have revenue spikes.
Capped versus uncapped – For the purpose of this blog we’re focusing on a 100K scalable offer, but some scalable offers will have the ability to go way beyond that, whilst others won’t. For example, if you want to run a mastermind or group programme with a fixed number of people inside there will be cap on potential revenue. Whereas some scalable offers truly are uncapped and limitless in terms of what they can generate. They can go on to generate 250K, 500K, 1million and more.
As you can see, when thinking about the money implications you need to think just making the 100K. Do you want to ultimately want to be able to make money? Do you care about how the 100K lands across the year? And how much profit do you want to make?
Implication #2: Lifestyle
Next you’ll want to think about the lifestyle implications of the potential scalable offers. If you are like most of the service providers I know growing their business by 100K in revenue, but working themselves into the ground is not the goal. The goal is to use a scalable offer to be able to make more money in their business, but in a manageable, sustainable way. A way where they can actually be able to enjoy the extra money they are making in their business.
Some things to consider:
Ongoing commitments – How do you feel about ongoing commitments? Does the thought of having a call in your diary every other week for the next 12 months stress you out or not? Some scalable offers will mean you are making a commitment month in and month (unless you alter the design) to be working.
When you work – Are you happy to open your calendar and have fixed times over the next month when you need to be working, or do you want to feel in control of when you work?
Implication #3: Marketing and Sales
It would be lovely if you just designed your 100K offer, put it on sale and 100K landed in your business bank account, but that isn’t how it works. You are going to have to do marketing and sales activities, and these vary amongst scalable offers.
Some things to consider:
How many sales will you need to make? – The amount of marketing you need to do for a membership that needs 10 people to make 100K and a course that needs two thousands sales to make 100K. Getting clear on what your sales targets would be will help you to think through the marketing reality.
How will sales be closed? – Is this something where you can have a sales page and people will buy instantly or are you going to have to be involved whether that be conversations in the DMs or on sales calls.
How can it be marketing alongside the rest of your offer suite? – It might be your scalable offer is perfect next step for clients after finishing inside another one of your offers and there is a natural pathway, or it might be that it can be a downsell for something else in your offer suite.
Implication #4: Operational Implications
One of the major issues with scaling a business is ensuring you consistently deliver to a high-standard. You don’t want to go from providing excellent one-to-one services to then have a scalable offer ruin the reputation of your business. So ensuring you have the right setup internally is key.
Things to consider are:
What tech is required to successfully deliver the offer? – Are you going to have to invest in new tech for the successful delivery? Is this tech you can learn or wlll else be needed with those skills?
What team are you going to need to successfully deliver the offer? – Some scalable offers require more support than others.
| GET THE BUSINESS MENTORSHIP TO BUILD YOUR SIX FIGURE SCALABLE OFFER
There is a lot to consider to choose the right scalable offer, and then you’ve get to create it, sell it and obviously that’s just one part of your business. Doing this all by yourself, with no strategic support, is difficult. That’s why I offer one-to-one mentoring that will give you the strategic advice, as well as ongoing support and accountability so you build your six-figure scalable offer, and have a (multi) six-figure year. I’ll be by your side every step of the way to help ensure you are thinking strategically, taking intentional action and analysing your business’ performance so it continues to get better and better. Your business can only grow as much as you do. With my by your side, both you and your business will grow. |
A reminder – There is no “best” 100K offer, but you can design the 100K scalable offer that’s right for your business (and life).
Hopefully you can see now that there is no universal best 100K scalable offer. What is a great choice for one person will feel horrendous to someone else and vica versa.
By looking through the different angles: financial, lifestyle, marketing and sales, and operations you should have got at least one option left on the table.
It’s important to acknowledge this might not be the scalable offer you have in your business in 3, 5 or 10 years time, but it’s the best for the season of business and life you are in right now.
That’s it. You now know about designing your 100k scalable offer as a service provider.
You’ve read a lot and now it is time for you to start taking action and designing your very own 100k scalable offer.
It all starts with being very honest with your purpose. Take some time to write that down, as that is what you can refer to when thinking through your options.
And then you’ll want to work your way through the range of scalable offers thinking about the different implications: financial, lifestyle, marketing and sales, and operational.
Designing your 100K scalable offer isn’t something to take lightly. It is a strategic decision and the right one will absolutely transform your business and life.
As you can hopefully tell, I’m not here to recommend any specific scalable offer, but I want to help ensure you make the best choice possible for you and your business.
That’s why I offer one-to-one support to help you make the best choices for your business and turn your ideas into a reality. To find out more about how I can help you click here.
| GET THE BUSINESS MENTORSHIP TO BUILD YOUR SIX FIGURE SCALABLE OFFER
There is a lot to consider to choose the right scalable offer, and then you’ve get to create it, sell it and obviously that’s just one part of your business. Doing this all by yourself, with no strategic support, is difficult. That’s why I offer one-to-one mentoring that will give you the strategic advice, as well as ongoing support and accountability so you build your six-figure scalable offer, and have a (multi) six-figure year. I’ll be by your side every step of the way to help ensure you are thinking strategically, taking intentional action and analysing your business’ performance so it continues to get better and better. Your business can only grow as much as you do. With my by your side, both you and your business will grow. |
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