When you’re looking to build a new business or improve your current one, don’t be distracted by trying to make something cool. Don’t get tricked into making something with a deep purpose or world-changing goal.
Instead, start with the simple question “What will make the most money with the least amount of effort”.
When I started Workshopper, an online course business that now makes multiple 7 figures per year in profit, I didn’t set out to “build a world-class facilitation community” or “change people’s lives”.
No, I did it because I suspected it would be the least effort way of making lots of money and that eventually led to those amazing side effects of people’s lives being changed.
I see many companies copying us but getting this core idea completely wrong. They’re trying to emulate the end results without starting with the Most Money + Least Effort formula. They then run out of time or money before the product can ever even gain momentum.
So when I’m looking to find my next “big thing”, I’m not thinking “what would be cool to work on”, I’m first thinking “what will make the most money with the least amount of effort?”.
Cheers,
Jonathan
P.S. The idea for doing this post was triggered while watching Alex Hermozi’s Youtube channel… I just can’t remember the exact video.. subscribe to him!
And that's exactly when my mindset changed during one of your sessions at the retreat.
Always keep in mind WHY DID I LEAVE MY JOB AND START MY OWN BUSINESS?
Of course, not to have the same effect as hours and hours of work, but to fulfil my dream of having time to travel and of course to work from time to time, but with things I can do because I love it.
So, of course, there is more to do and a lot of work at the beginning, but I keep in mind exactly those questions you mentioned:
What can I offer that companies would like to have that I can duplicate. Work on it once, then offer it several times?
- A typical workshop to solve a typical problem
- Turn this workshop into an asynchronous workshop, to reduce the time I spend with the teams but permit them to work with methods on their own( ExampleI created a MIRO Board for a group including several companies and offer the workshop with a fix price to each company of the group)
- Create a facilitation training in my country using what I have learned
- Reach out to the expert with a marketing channel, which does not cost me too much energy to be also seen as an expert or as the one who knows specific experts (podcast)
- Choose companies that I can work with long term on different topics
- Try things out to find out what costs me energy or not
- Set my prices so I can have a few contracts that pay for my lifestyle without too many hours of work.
- And charge for everything, including preparation time
Be there for my clients but do fall in the "people pleaser syndrome" and learning also to say no.
Totally agree. I see two factors that help me build my business: 1. positive feedback about my products, 2. money people pay me.
Positive feedback gives energy for my soul, money lets me buy food that gives me energy for my body to build and sell even more 😊