The prostitute business model is the one where you sell an hour of your time for a fee. The gas engineer I used to fix my boiler, my virtual assistant and many lawyers use this model. You pay an hourly rate, and they do something for you. The billable hours business model is great for its simplicity. Someone turns up at my office at 1 pm, we talk about what they need to resolve, and I send them a bill for however long they were here. Less the time I spent putting the kettle on and getting the caramel wafers out.
You have to work all the time to get more clients in if the first ones are not going to come back. Your clients compare your rates with what they earn in their proper job. When I get a business advice client using the prostitute business model, I often try to steer them away from it. Maybe they can move to the recurring income business model. Or start developing products based on all their expertise.
Sometimes we start thinking about the productivised services model. All these are coming up next. I have developed my favourite business strategy for small businesses. And, yes, you guessed it. My business advice is not to be a prostitute. Every week I send out some ideas, thoughts and tips on how to run a more successful small business. Let me know how you like them. What is the prostitute business model? More of this, please Every week I send out some ideas, thoughts and tips on how to run a more successful small business.
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