Just as I was considering writing out the pretty lengthy description box of my Rock Your Business video, into a blog post for this World Between World blog;
YouTube stepped in before I could even weigh the pros and the cons on making cross-over content, reposting a video as a blogpost (a practice I support in theory yet usually end up not caring for at all, when other YouTubers do it);
Before any of those conscious decisions could be made, YouTube already started flashing red lines in my face that my description was WAY too lengthy!
It wasn’t having any of it!
If I wanted to post that video, I had to cut corners with my description, and my model of the three different types of businesses, and the fourth one, the Rock Star Business, would just have to be crunched into bullet points or something.
Naturally, I could not allow for that.
So here it is! The description slash blog post YouTube refused to post.
And the official launch of my new business channel.
From now on my new business channel, Rock Your Business, will focus exclusively on the Rock Star Business.
Subscribe to Rock Your Business here.
There’s no business like Rock Star Business: channel introduction 2022
The past 3 years – or perhaps the past 30! depending on how you count – I ve been knee deep both in studying business models, as well as in having a business because I was a professional yoga teacher.
And trust me when I say, it was a messy journey!
And a preventable one, ultimately, had I known then what I know now.
Which is that there are THREE types of businesses, which I did not fully understand to be entirely different things.
The three types are:
1. the service provider
makes money from selling their services (hours) but their time investment/ non-monetized hours could be as much as double that.
Focus of the service provider is on the well-being of their client or customer (helping), and they position themselves as an expert in their industry including taking regular extra training, diplomas, and professional specialization.
2. the entrepreneur
Makes money from selling a package, or a clearly defined experience.
Not only does an entrepreneur have a clear vision about which hours are connected to cash flow, and which are non-money making activities (minimizing the latter);
But the entrepreneur can even make money without selling hours, which is called passive income. This means they sell automatically, with payment and delivery handled digitally, and they do not have to do something nor do they have to invest time later.
Focus of the entrepreneur is on the well-being of their business, which is a separate entity that can ultimately be ran and sold independently.
A good book to read how to get from 1 to 2 (how to stop seeing yourself as a service or goods provider, and uplevel to being a business) is
The E-Myth Revisited
Why Most Small Businesses Don’t Work and What to Do About It
by Michael E. Gerber
3. The Artist
Instead of designing their work around their clients or business, an artist builds their work around their art.
Some artists make work they can sell, but the focus of an artist is to work on their art. Not their client, nor their business or income are a priority, but the quality of their work.
Artists who want to monetize their skills in the form of a professional side career or side-hustle should focus on how to become entrepreneurs, and how to package up what it is they can do in a way that is guaranteed to make money.
For example as a photographer, have a fixed fee on your website for photographing a wedding or a studio photo shoot, and avoid terms like “tailored to your needs”.
Artists who want to provide for their creative projects by making money from their craft, must avoid the trap of becoming a service provider. There are too many unpaid hours there.
And here is my fourth, and new, business model: The Rock Star Business model.
4. The Rock Star
If you are a rock star, you re in an equal, non-monetary relationship with your fans or audience. You probably don’t even know who paid you and who didn’t.
The audience knows what the Rock Star has on sale (albums, concert tickets) but their bond is defined by being in a relationship with each other.
The Rock Star with the audience or fans, and the fans or audience with their Rock Star.
Their relationship is one of great freedom, and without any promise of continuity. Each party can leave, whenever they want to.
– The freedom;
– the equality between parties;
– and a relationship that is not defined by monetary exchange;
Are all unique traits of the Rock Star Business, that are not found in any other business model.
My business channel will all be about the latter from now:
How can YOU change your business into a Rock Star one?
And if you do choose to monetize your skills for extra cash flow, how can you make sure you focus on the money making activities, and avoid the traps of doing a lot of work for free?
Doing the majority of your work for free, not being paid in advance, and other practices that are (in my opinion) a disservice to everybody, including your clients, are so common in a lot of industries.
How can we avoid them? One of the many things we’re going to find out in our work together.
Watch this first video about the bare bones of what it means to have a Rock Star Business.
Or watch it at the bottom of this post.
And rock on!
Suzanne L. Beenackers
I would love to know which parts spoke to you. You can share in the comments,
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The button is on this page, probably somewhere on the right.
You can find my books The Little Mistress Who Turned Into A Baby Koala
A Boyfriend Like Jon Bongiovi and The White Tigress Yoga Workbook
at the bottom of this page: https://www.lulu.com/spotlight/rockstarwriter