You’re busy and booked but looking for ways to make more money.  Welcome to the service business owner’s dilemma!  In this episode of the ‘Real Cost Of’ series, I’m cutting the BS by debunking myths and unveiling the real costs of adding new income streams.  Topics covered in this episode include:   The challenges of trying to grow your revenue when you’re booked out.   Why the one-to-many model for courses and programs is so enticing?     The hidden costs of adding income streams.    My personal experiences with launching one-to-many offers.   How adding this kind of offer is like starting another business.    How much marketing do you need to make one-to-many offers work.    The potential costs for the tech and skills you need for creating these new revenue streams.    The financial implications and opportunity cost.   Alternative ways to add income streams without switching up your business model.    For detailed show notes and links to everything in this episode, please visit bsfreebusiness.com.  To stay in the loop by email, sign up for updates at https://bsfreebusiness.com/newsletter/

The Real Cost of Building Multiple Streams of Income

The BS-Free Service Business show takes you behind the scenes of running a business as a freelancer, creative, or agency owner, focusing on fluff-free lessons to help you grow your business and get paid.  You're in the right place if you work with clients and want to create a simple AND sustainable service business. 

Your host is Maggie Patterson, the creator of BS-Free Business, a content production agency owner, and a self-employed writer and consultant for nearly 20 years. 

You can learn more about the podcast and BS-Free Business at http://www.bsfreebusiness.com and subscribe to never miss an episode.

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This week, we’re sharing our most recent Duped episode where we discuss understanding the risks of payment plans in online business.  _______________________________________ Have you ever bought something on a payment plan and quickly realized you’re unsatisfied, but there’s no way out? The fact is, not all payment plans are created equal. While they can be an excellent way to pay for something over time, the flip side is that they can also be weaponized by celebrity entrepreneurs and used to handle sales objections.  So, what risks should you, the consumer, know about before buying a course or program using a payment plan?  In this episode, we’re equipping you with the knowledge to make informed decisions about what you buy and how you pay for it.  We discuss:   The pros and cons of payment plans.   How payment plans can be weaponized to handle objections.   How much is a reasonable markup on a payment plan?   The possible pitfalls of extended payment plans.   Why incentives for paying in full can be problematic.   How third-party payment services can make payment plans more questionable.   Questions to ask before you buy.    For detailed show notes and links to everything mentioned in this episode, please visit duped.online. For more Duped, including monthly bonus episodes, join the Patreon. 

Consumer Caution: Understanding the Risks of Payment Plans in Online Business

Running a business can be a rollercoaster. One minute, you’re up; the next, you’re down; some days, it can feel like you’re hanging on for dear life. While the ride can sometimes feel invigorating, other times it can feel downright terrifying.  So, how do you learn to adapt and roll with the changes as they come? In this episode, we're wrapping up our exits and evolutions series, looking at the theme that change is the only constant in business.  Topics discussed in this episode include:   Why change can be hard and the psychology behind it.    Change management: the 4 Cs and why it helps make business decisions.    Reasons you may want to make changes or not in your business including changes you absolutely want to avoid.    The role of our feelings in changes and what you need to watch for.    Why you don’t want to chase trends.    For detailed show notes and links to everything in this episode, please visit bsfreebusiness.com.  To stay in the loop by email, sign up for updates at https://bsfreebusiness.com/newsletter/

Exits and Evolutions: Change is the Only Constant

Have you ever daydreamed about chucking it all in and leaving your business behind for something new?  While this daydream isn’t uncommon, it’s often hard to conceptualize how (or why!) you’d walk away from a thriving business.  In the last Exits and Evolution series interview, I interviewed fractional integrator and operations strategist AdeOla Fadumiye. Adeola boldly shut down a business that worked for her as she wanted different challenges and opportunities.  Topics discussed in this episode include:   Why AdeOla shut down her podcast production agency and what led to that gut-driven decision.   What’s she been doing since sunsetting her agency and how has she figured out what’s next?    How consulting gigs have helped her clarify what she wants to focus on moving ahead.    Why she’s looking for a 9-to-5 role as she builds up her new venture.    AdeOla’s advice for anyone wanting to make a big move in their business.   For detailed show notes and links to everything in this episode, please visit bsfreebusiness.com.  To stay in the loop by email, sign up for updates at https://bsfreebusiness.com/newsletter/

The Art of Reinvention with AdeOla Fadumiye

As a service business owner, have you ever wondered if adding products would be a solid revenue-generation strategy?  The reality is that despite being told that creating courses and other products is a fast path to passive income, it’s far easier said than done.  In this episode, Zoe Linda shares how she blended products and services and adapted her offerings over time to meet her needs.  Topics discussed in this episode include:   Zoe shares how she’s built her business with digital products, courses, and client work, including insights into what worked and what didn’t.    The ongoing battle of prioritizing and executing ideas while juggling client demands.   How she’s used products to reach more people and build community.   The important role of market research and validation and provides valuable tips on how to ensure you’re creating things people actually want.    Exploring pricing and scheduling for day rates, and how Zoe has learned to set boundaries and stay motivated on those days.    The different types of clients that Zoe works with and how creating a productized service impacted her business.    An honest look at managing capacity and not compromising your values for revenue.    For detailed show notes and links to everything in this episode, please visit bsfreebusiness.com.  To stay in the loop by email, sign up for updates at https://bsfreebusiness.com/newsletter/

Building a Business by Blending Products and Services with Zoe Linda

Do you ever feel like keeping up with social media is impossible? Or maybe you don’t even care to try in the first place?  With social media constantly evolving, and as a business owner, it can be hard to gauge what actually matters and how much time and effort you “should” be throwing behind it.  In this episode, Andréa Jones, a mindful marketing strategist, discusses her evolving approach to social media and her desire to have deeper conversations about its impact.  Topics discussed in this episode include:   The importance of aligning your work with your values for long-term satisfaction and fulfillment.    Setting boundaries and privacy in the digital age, including what Andréa shares and doesn’t share.   How Andréa’s business and viewpoint have been evolving, and why she made a point of sharing them publicly as she thought them through.    Her focus is on conversations and conceptual topics over tactical strategies as part of social media.    Andréa’s transition from a solo business to an agency and why having a team was essential when managing social media.    The social media landscape is evolving in specific ways, and content creation is no longer the sole focus.    Why is evolving and adapting your approach to social media crucial, and why is there no one-size-fits-all solution?   Why transparency and authenticity are key in building trust with your audience and standing out in a crowded online space.   What’s in Andréa’s future vision as a facilitator and shining a light on other experts.   For detailed show notes and links to everything in this episode, please visit bsfreebusiness.com.  To stay in the loop by email, sign up for updates at https://bsfreebusiness.com/newsletter/

The Real Cost of Building Multiple Streams of Income

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