This past March marked three years running a service based business and I truly love it. When I first started, I was just as lost regarding the process of doing stuff. One thing I knew for sure was I need another income outside of one on one consulting. Especially, since I was new and industry without huge accolades behind my name. Immediately, started researching how to create passive income for my business was super exciting. Only issues was so many things felt like gimmicks and not who I was. Later, after almost 2 years of creating digital products I wrote Passive Income: Make Money In Your Sleep. That ebook helped so much of my audience flush out their ideas and create their passive income funnel.
On any given day I am providing my audience with a multitude of free information to help them build their businesses. Its up for mass consumption for those who read this blog, ICB Consult Blog, watch my youtube videos, read my newsletters or just follow me on social media. So many service based businesses are scared to share information. They feel if they give away their “secrets” no one will hire them or buy what they have.
The online learning industry is expected to do well over $100 billion dollars this year. Yes, $100 billion dollars will be made in the digital world; if you’re a content creator all you need is to take a small piece of the pie to succeed. However, today I want to talk to you about the greed that is specifically happening in the realm of content creators.
Almost three years ago, I was making in the mid five figures running my online resale boutique and with the start my consulting company. Truthfully, I was doing pretty well without doing major marketing or advertising. Now, was I happy about my income level? No, not really. Honestly, who wants to stay at the same low financial level. We all want to grow and stretch our business to the next level. My goal is to have a million dollar company by the age of 31. This is the same age Bill Gates became a millionaire. Let me break down how I grew my company to a six figure business.
For the last couple of months, I have been discussing Passive Income: Make Money In Your Sleep. I truly want people to work smarter not harder to achieve success. One of the biggest issues people have with passive income is thinking of ideas to stream their passive income for their business. I am an “idea” person. I can come up with a million passive income ideas, in one sitting for different industries. Thought I’d share some with you. Hopefully, these ideas will aide you in creating products for your business.
In the 2 and a 1/2 years of running my consulting company, I have raised my price three times. Each time I wondered if I would I still be able to book clients. Right now, ICB Consults has a waiting list of people wanting to work with me. My current rate is $375 an hour. When I started my rate was $65 dollars an hour. I have grown drastically. Many business owners are scared of what will happen if they raise their prices. The fear of losing clients is too much of a risk for them .
For the last two years, I have focused my efforts of becoming a digital content creator. My time is spent thinking of ideas, flushing out multiple streams for products, getting them designed, and selling them to my audience. With the creation of digital products, a new level of passive income was fueled for my business to thrive on, while I worked on other areas.
Being able to have the freedom to pursue other avenues and still know money is being made in my sleep is a great thing. Everyone should have the chance to grow their digital sales to increase their passive income.
Being a content creator in a digital world is really fun and exciting. There is always something to create, design, or implement, in order to, help other people achieve their dreams. I love helping people who are starting business and they need help with comprehending the basics.
Reaching those people is something else. One thing I noticed is, there is a multitude of ways to sell your products to your current and future audience. For instance, digital products can be purchased on ICB Consults‘ main website, Etsy, and Gumroad.
ICB Consults has been established for a little over two years, but in a short amount of time I have learned a tremendous amount about running a service business. In my humble opinion, launching, maintaining, and scaling a service based company is harder than a product based business. Let me share how you can scale your service business towards success.