Hey there!

Yesterday we share some distinctions about tribes/communities...

And I promised to talk about the business model framework that sits behind how we think about making money applying the Community Mastery Method™.

Here's what you need to know...

There are five core decisions that you have to make in advance in order to effectively apply the Community Mastery Method:

You have to decide to...

1. Get so good you can't be ignored.
2. Get known by the right people at the right time for the right reasons
3. Get paid what you want
4. Get leverage through assets and systems
5. Get rewired to consistently operate at elite levels of performance and productivity

The Conversation about our core business model sits behind the third decision: Get paid what you want.

So what's a business model?

Ans: It's how you choose to make money as an entrepreneur.

Growing up I was told there were only two ways to make money...

Either get a job...

Or start a business.

It wasn't until I met Janet my mentor that I learned that there was a 3rd option and that was to build a practice selling your time and expertise.

And that critical distinction helped me a lot.

And it will also if you understand it.

Now here's the thing...

On the surface...

Practices and businesses look the same...

But the primary difference is that in a business, you're trying to leverage everything BUT your time.

The goal in a business if done well is to build an asset that you can sell.

The big pay off is freedom.

In a practice TIME, especially your time is one of the primary things that you are offering for sale - but at premium rates.

We're not looking at building an asset to sell - though you intellectual property can be leveraged just as a business can.

And even though you can actually implement systems that facilitate freedom for you in a practice...

The big pay off is fulfilment.

It's important to understand the difference because the rules of success for a practice and a business are very different.

I see many people struggle simply because they're running a practice with the rules of business...

And consequently taking well meaning bad advice from business consultants who know how to build a business but have no clue about what to do with a practice and just assume they're the same.

How you conceptualize, plan, fund, market, sell, manage, document, grow and exit a practice is very different from how you do these things in a business.

Question: Which one is better - a practice or a business?

Wrong question...

Even though running a practice offers far better lifestyle options than a business if you're in the expert space...

A better question to ask is: Which one is the best to start with?

And the answer is a practice.

But hold on that thought for a moment.

Back in 2014, I started to notice a trend that over the years has only grown bigger and those who tap into it generally beat the odds of success.

That trend was global small businesses that are powered purely by micro niche audiences of people.

So I asked if the benefits of such a global small business could be combined with the benefits of practice but still run with the rules of a practice.

And I'm happy to say the answer is yes.

And so I named the model Movement-Based Enterprise™ and out of that have come success stories like...

The Right Fit Marriage Academy

Headstart Africa

Leap Africa

And more.

So to answer the question posed early...

The model to start with is what I call The Movement-Based Enterprise™ (MBE™) that combines all the benefits of a global small business with the structure a practice.

In my mind it offers you the most flexibility and the best chance at both freedom and fulfiment.

I've proved time and time again over the years that an expert operating an MBE™ focused on a community that's bought in to their key framework or methodology and with 2 to 3 staff can generate revenues upwards of a million dollars a year working 90 to 200 days a year.

And if you want to exit you have multiple options...

My two favorites are...

You can either sell off different intellectual property assets and stay with what you love...

Or spin multiply intellectual property assets into separate businesses on their own and then sell them off...

Either way you still get to focus on doing what you love, with people love.

I just love it.

Tomorrow I'll be sharing my sprint report.

Every two weeks I give account of what I've done so you get a front row seat for what I'm doing to grow my MBE™ over the next 12months.

I learned some pretty cool stuff these last two weeks.

Tell you about them tomorrow...

Till then...

Get out of your own way...

Play a bigger game than you've ever played before.

CTM