Presented by Kerry Carron on 05/07/2018 2:00pm
Creating multiple streams of income is one of the ways that Freelancers can start to do more than merely survive. This webinar is going to provide you with a technique to apply a proven concept and evaluate a potential new service for you to offer to your clients.
Qualifying your business, and the services and products you offer is the only way that you will be able to know - even before you start, whether or not you are going to be able to make any money with it.
There have been MANY successful businesses throughout history. Interestingly, there are also 5 things that every successful business has in common. Knowing what these things are and being able to leverage them within YOUR business can help you to become successful as well.
So what are these thing? Well, that is what I am going to share next... or should I say, NECST?
NECST is an easy to remember acronym you can use to prequalify business ideas and plans.
The greatest impact that the NECST concept can have occurs when all five elements are satisfied and applied to your business. But you can also use the concept to qualify your services and products too.
The concept of NECST was developed by MJ DeMarco, author of "The Millionaire Fastlane".
So, what do the letters of this acronym stand for and how can this concept help you to build a successful business?
It will be easiest to explain while we take a closer look at a new service that we will plan to consider offering. We will be evaluating this new service to determine if it satisfies the concepts we'll learn about NECST, and if it meets the NECST criteria for your business, we'll show you how you can use this new service to make YOU some money.
The Concept of NECST
Need – The N of NECST
What is it that your business, service or product does that can help others? In order to ensure that your business, service or product will make money, make sure it will solve a specific need. Make your impact by providing a measurable value. Ask yourself, “what do my clients need?”
Entry – The E of NECST
A business with a high entry barrier is more powerful, stronger, and has less competition than the businesses that are easy to build. Entry barriers are things like the cost to “buy” into it, a difficult learning curve, a specialized skill set, or even the length of time it might take to build. It is important to understand and differentiate between the entry barrier to build your business from what you offer your clients and customers in your services and products. Their entry should be realistically attainable.
Control – The C of NECST
Build your business so you are controlled in control of your financial plan. Build your business as an organization. Change your mindset to exclude any preconceived financial limitations.
- $100/month is not bad money
- $1000/month os OK money
- $10,000/month is Good money
- $100,000/month is Big money
- Legendary Money is $1,000,000+/month
Each of these is an example of potential income. Are you limiting which one you can achieve? History shows that all are possible so it might as well be your business that is successful in the very near future!
Scale – The S of NECST
Build your business in a controlled environment that you can scale up. Make the world your environment. Build your business in proportional dimensions without limitation. Scale is all about leverage.
Time – The T of NECST
Build your business to optimize your time. Ensure your business can operate without you being present. Build in margins wide enough to hire other people. Automate and use systems within your business. Most importantly, use your automated systems.
My Agency Blueprint
The My Agency Blueprint is a product that you can purchase and implement for yourself and then use your new gained knowledge (not to mention your increase of traffic to your own site) and offer a new and valuable marketing service to your clients.
Think about this for a moment… If you were an Auto Repair Technician which would have the higher return on your investment…
- Selling each of your customers a Wrench?
- Offering to Fix the car, and to ensure them that once it is fixed their family would be safe traveling in that car.
Both are solid business models. Don’t get me wrong, there is nothing wrong with selling to those that aren’t afraid of doing the work but, I am sure you can see that fixing the car is a greater return on your investment because selling wrenches would require a lot more clients, a lot more work, and a lot more time to make money.
PROTIP: If you are a mechanic attracting people that only want to buy wrenches, you are marketing to the wrong people!
The My Agency BluePrint Evaluation
The majority of a web designer or developers clients want a website because they have been educated that they need a website. But our jobs as freelancers in the industry is to explain to them why they need a website. And perhaps more importantly, we need to tell them just because they have a website does not mean that their business will suddenly become successful. This isn’t the movies! Just because we build it, does not mean they will come.
This isn’t the movies! Just because we build it, does not mean they will come.
The bottom line is that our clients are not really buying websites from us just because they want a pretty website. What they are really saying is that they expect a website to attract more people and will, in turn, buy something from them! They are after sales.
To accommodate this, we (as freelance web designers and developers) must also focus on their marketing in order to increase their odds of having someone who visits their website actually buy something from them. It really is a numbers game.
When the number of people visiting a website increases (and everything else being equal), the number of conversions will also proportionally increase, thus your client will have more sales.
Taking it a step farther, if we can attract our client’s type of client that is more likely to buy, our marketing efforts can be compounded.
And, as long as we are on the topic of marketing, as freelancers, should we not also be after much the same thing as our clients?
Aren’t you yourself tired of having to always chase the sales cycle? Wouldn’t it be grand if you could build a residual system within your business that at the same time provides a massive value for your clients?
Entry (the client’s entry)
My Agency Blueprint can establish your status as an authority in the industry. You’ll be attracting the type of client that does not want to buy the wrench. The convenience of your service will allow your client to focus on their business and not their website or their marketing. And you’ll be able to provide them with the results that they want – more sales.
- Position yourself as an Expert (not a Vendor)
- Premium Service cost ($750+ per month)
- Convenience for your clients
- Measurable results
Control of your financial plan
Offering My Agency Blueprint as a service for your clients will increase your perceived value allowing you to build in wide margins right from the start. This provides you with a high paying residual income you can use to continue to grow your business when needed.
- Residual Income
- Increase in the perceived value to your clients
You’ll also be positioned to scale your business as needed and when needed. There is no limitation to where (or what) you can market.
- Focus on the client’s Return on Their Investment (ROI), not rank
- Sell the Data
- Global growth potential
With the built-in profit margin, you’ll have enough to hire others when the time comes. With proven systems and automation you’ll be able to watch your business grow without even being there.
- Built-in profit margin
- A proven system
- Easy to replicate, automate and systematize
A Service That Satisfies NECST Criteria
Using this product for your business and as a service for your clients satisfies all of the NECST criteria for being a money maker for you.
So now, only one question arises. This can no longer be a question of if you take advantage of this but rather, when will you take action?
There is a reason there is the saying, “where there is a will there is a way.” Your only concern now is finding the way. What is your plan to be able to implement your My Agency Blueprint as soon as possible?
5 Ways To Implement My Agency BluePrint
- Financing – PayPal credit, credit card
- Passing the cost into a price increase
- Investing affiliate sale commissions
- Working Overtime
- Upsell a project and use the profit
Plan on doing whatever it takes to implement My Agency Blueprint into your business. Increasing income and creating cashflow is imperative in maintaining a successful business. This one is a no-brainer.
The 6-Minute Pitch (Coming soon)
Presenter Bio: Kerry Carron
Kerry Carron is a loving wife and mother of three grown boys. As a freelancer, Kerry has built hundreds of WordPress websites and assisted other freelancers and small agencies with WordPress support and business development. She is the founder of OwnWP, a production of Ultimate Solution, LLC.
Kerry specializes in processes and creating systems. She is passionate about helping others find their path to success and her aspiration with OwnWP is to encourage other freelancers in finding and using the right combination of tools and skills they need to do more than merely survive!