Is Your Business Model Still Working? (for the creatives + business owners)

Art of Money Podcast

Dear Friend, Most of my financial therapy work has to do with helping people create a more mindful, savvy and empowered relationship to money. This could be in the realm of personal finances, couples finances and even in business finances. In my Mentor program, which is a group program for therapists, coaches and financial professionals, I’m additionally supporting folks to create a more sustainable business. In that context, we’re not just working on our money psychology, we’re also working on new ways of offering our services and adding new revenue streams. And the way you do that has everything to do with your business models. There’s a funny thing about running a business though: once you do it for several years, you realize that the business model you thought would bring in great revenue forever…sometimes starts to not work so well. And when that happens, it’s time for a business model update. There are dozens of things that can change in the outside world that can lead to you needing to change something in your business model. It could be changes in a social media platform’s algorithm or something larger like a worldwide pandemic. And, there can be dozens of things that can change in our inner world that can also lead us needing to update our business models, such as having a new baby, going through a divorce, or experiencing a health crisis. Sometimes we just need to find creative ways to adapt and adjust our own business model so that it works better for the particular life phase that we are in. After a recent class I led for my Art of Money Mentor group, I had a strong intuition that there are more of you out there who might be facing challenges in your business or private practice that could be less challenging if you updated your business model. And I knew then that I had to share the audio recording from this call, because I took a deep dive into the topic of business models: what they are, why we need to change them, examples of different kinds of models, and a box full of stories from times when I’ve had to change my own business models. So today, I want to share this recording with you from my most recent Mentor Group call. If you have a business or private practice that could use a business model shift, I hope you find some helpful nuggets in this recording! Here’s to getting creative and fine-tuning,