George Kao breaks down a three-part income model for solo practitioners: one-to-one sessions at $125/hr, group workshops at $25 per person, and free content. Twenty clients doing two hours monthly plus fifty people in weekly workshops nets $10,000/month in about 10-15 hours of work.
In the past couple of years, I have coached hundreds of clients in launching and growing their business. And I've also taught thousands of students through webinars and through writing my articles, etc. And engaging with them that way. And I will tell you, too many people complicate their business model. And so in this short video, I want to give you a really, really simple and generous business model. Or you might even just say a livelihood model. Something that allows you to make enough money doing the work that so fulfills you to do. Okay? And there are three parts to this simple, generous business model. There is the one to one, there's the group experience, and then there's the free content. So let me start with the one to one. One to one is just as it sounds. You are serving one client at a time in private sessions. Whether you are a coach or a consultant or a Counselor, you're serving one client at a time in those sessions. And the one to one, let's just say you are charging $1, $125 an hour for your one to one work. Some of you charge much more than that, some of you charge less, but let's just say you charge 125 for the sake of this illustration. So, $125 an hour. If you had 20 clients paying you for two hours a month, so each client pays you $250 a month, and you had 20 clients doing this, you're earning $5,000 a month. And for most of you, $5,000 a month would pay all of your bills. Okay? So let's just use $5,000 a month as a goal for the sake of this video. Could you have 20 clients paying you $250 a month? It is possible. Maybe for some of you, very likely. Because if you were to do the work of looking at the people you already know in your life, looking at your phone book, your email address book, looking at your Facebook friends, looking at your LinkedIn contacts, you probably can find 20 people would be happy to pay you $250 a month to access two hours of your services each month. Okay? Or you probably have a good friend who knows some people who would be happy to pay you for that. And you have a couple of good friends who could help you out. And some of your own people, you could probably find 20 clients. So that's a simple way, right? Just Even with this one to one model, a simple way to earn $5,000 a month. And guess what? Two hours a month for each client at 20 clients is how many hours a month 40 hours a month of one to one service, which is 10 hours a week of one to one service. And you're earning $5,000 a month just doing that. So that's already one simple model I'm going to give you. The second simple model is doing a group experience. So a simple way of doing that is doing an online workshop. Let's say you do a two hour online workshop where you facilitate people into some kind of transformation with the expertise and the wisdom that you've developed in your life. Maybe you've gotten some training or maybe you've created a model based on helping a lot of people and you can facilitate a two hour online workshop that is transformational and effective for people. And let's say you charge an extremely reasonable, affordable rate of $25 for that online workshop per registration. Okay? Each person pays $25. And let's say you had just 50 people register for your online workshop each time. 50 registrations, $25. Okay. And let's say you did this online workshop once a week, two hours a week, once a week, and 50 registrations per workshop. You have guests. And how do you get 50 registrations? Well, that's we can talk about in another video, but you probably already know, maybe you have some good friends who know some people who could help you out. And several of you, let's say five of your good friends, can help you to invite 10 people each. That's 50 registrations. And you probably already know some people as well who registered. But let's say you get 50 registrations for each workshop and you did this workshop once a week. That's at $25, very reasonable. That's $5,000 also right there. Okay? And so I've given you a one to one model. I've given you a group model. Okay? You can mix and match these. So let's say instead of 21 to 1 clients, you just have 10 one to one clients. And let's say you do the workshop instead of once a week, you do it once every other week. And so there you go. You've just matched together a $5,000 month and you're only working something like 10 to 15 hours a week. Okay? 10 to 15 hours a week of direct service and you're earning $5,000 a month. Now let me give you add in the third part of the model, which is the free content. If you were working 10 to 15 hours a week, earning $5,000 a month, don't you have additional time if you spend another five to ten hours a week? Serving the world and also building more of your audience so that your one to one and your group experience, it's easier and easier over time to get the clients and the registrations for your workshop. Okay, so that's the third part is the free content. The free content. Think of it. Why would you create and share free content with the world? Lots of reasons, but I'll give you three primary reasons. One is that free content really helps you to develop your voice in the world, to develop your message. Whether you're doing free content through videos or whether you're doing free content through writing, you develop your writing voice. But free content helps you to hone and deepen your message for the world. Okay? So it helps you to fulfill your calling of serving the world. Reason number one, Reason number two is that free content attracts to you your ideal clients. As you share your free content on Facebook, okay? On other social media channels, on your blog, okay? You are attracting more people to be helped by you and developing your audience. And the third reason is that free content is your legacy. As you share free content generously on Facebook, on YouTube, on medium.com or wherever you share it, you know even after you pass from this world, that free content is blessing and helping people. So it is your legacy that you keep serving people forever through that free content. So the free content is the third and important part of this model. And if you combine these three, you have a simple and and generous business model that anybody who has a passion to serve the world with some particular expertise or transformational method can use. So until the next video, my name is George Kao and I wish for you a simple, generous business model.
