Profit From What You Already Know
Are you looking for a way to take your business from good to great? If so, then a leveraged offer may be just what you need, my friend.
Janine came to me to start a new revenue stream for her baking business. Janine is an award-winning baker with years of experience and expertise, and she's a premier cake designer for weddings. She wanted to use her entrepreneurial baking experience to reach a new customer base in addition to what she was already doing in her brick-and-mortar business.
Janine had a lot of requests for advice on how to create a successful bakery. So after being asked time and time again about her business success, we helped Janine create a leveraged offer for aspiring bakery owners.
Next time someone asks Janine to 'pick her brain,' she can send them to a sales page to find out all the offers' details.
This offer includes everything her clients would need - recipes, baking tips, equipment requirements, contract creation, marketing plans, and even a list of vendors for anything they may need.
This new course would go on to be a new revenue stream on track for six figures.
While tapping into new markets is not a new concept, I believe it's one of the most forgotten ways entrepreneurs can level up their business. Like Rihanna, who added Fenty Beaty and other ventures to her empire, she became a thirty-something New Billionaire!
What Can a Leveraged Offer Do?
- Increase your impact. A leveraged offer is a way of increasing your impact by the number of people you can help. This means it allows exponential growth because you go from a business model exclusively 1:1 to 1 to many.
- Add more freedom and flexibility. With burnout among entrepreneurs high, you must create a business you love AND that loves you back. You get to run your business how you want, and isn't that what being an entrepreneur is about?
- Open a new market of clients. Who could you be serving now that you're not already? Or who could you be serving now in different ways? Uber went from offering rides to adding food delivery with UberEATS in 2016.
- Increase your income. A leveraged offer is an opportunity to grow your income with a new revenue stream that doesn't take away from your existing schedule. My client Janine is still creating fabulous wedding cakes while reaping the rewards of having a leveraged offer in her business portfolio.
- Boost your credibility. Creating a leveraged offer that gets results for your clients can set you apart from others in your industry. It's like setting yourself apart from others by mastering your craft.
- Take your business online. With the world dominated by the internet and globalization at a high, it's part of our ethos to expand beyond our local area or neighborhood. Taking your business online is not just for big companies anymore!
What Exactly is a Leveraged Offer?
A leveraged offer, in simple terms, is creating an offer that puts your expertise to work for you without adding lots of time commitments.
As an expert in your field, you leverage your talent and skills, time, and achievements. It's like having a vault of your talents that you can open up anytime you need them.
It's just a matter of turning your expertise into something worth buying.
Here are some popular examples of leveraged offers:
- Group Program
- Digital Course
- Membership site
According to Nerd Wallet, many types of leveraged offers are among the most profitable business ideas out there. Imagine how powerful it would be to combine that with your existing business or create something totally new.
Where Do I Start?
- Brainstorm different ways you can leverage your talents and skills. What are you known for? How do you help your current clients win? Who comes to you for advice?
- Identify the ideal market for your talents and skills. It's time to start putting your talents and skills in high demand so that you can earn more money with ease! Are you looking at a complementary product to an existing offering or something new altogether?
- Create a roadmap. What does success look like for your client? How do you get them from point A to Z?
- Choose the best format for you and your client. Maybe it's an offer where you're totally hands-off or available sometimes? You can get to decide what works best.
- Create a project plan. It's essential to identify what you're trying to achieve and plan it out. One way to start is by setting up a project plan and creating action items to achieve your goal.
As the demands on your time rise and you crave more freedom in business and life, remember there are unlimited opportunities you can open up using a leveraged offer.
Ready to go from idea to sold?
Download the free guide, The First 7 Steps to Create a Profitable Online Course