Revenue 2.0: Emerging Models for Expert Firms
Monday, September 8, 2014 at 8:00 AM - Tuesday, September 9, 2014 at 2:00 PM (EDT)
San Francisco, California
London, United Kingdom
You’re in business to make it and you’ve got ideas on how that should be done (along with a track record of doing so, hopefully.)
[Rather read this in brochure format? Download brochure PDF here.]
If you’ll give us two days of your life we’ll help you replace those ideas with even better ones and offer a more lucrative path to higher revenue, profit, and fulfillment. It’s not that your ideas are bad—they’ve gotten you this far after all. It’s just that what got you here doesn’t usually get you to the next level of profit and wealth. Your initial model for success becomes the constraint to even better success.
After ten years of teaching business development basics through the annual ReCourses New Business Summit, we (David C. Baker and Blair Enns) decided another seminar was needed on more advanced topics for the more expert firms, ready for the next level.
Revenue 2.0 is an exploration of new models for delivering value to clients and for capturing a greater share of that value for the expert advisor or firm. It’s about better ways to make money without simply working harder or leveraging yourself further. Here’s what we’ll lead you through in order to make that happen.
Revenue Models: Varied Paths to the Grand Goal. We’ve seen countless business ideas crushed as their owners tried to squeeze them into fee-for-service models. Expert firms are increasingly employing mixed revenue models. Small firms, digital firms, and vertically focused firms are just some that should be monetizing their ideas and advice through a combination of revenue models including some highly innovative ones. We’ll explore these and get you thinking beyond fee-for-service.
Building True Intellectual Property. There are three levels to intellectual property. Most firms brag about achieving the first two, without having really done either, and few think the third even applies to them. Intellectual property not only supports differentiation but it drives profit like little else because it allows expert firms to push high-quality diagnostic work to the lower levels of the organization, freeing up the dependency on expensive senior personnel.
If you were launching your firm today you wouldn’t set out to build a firm that requires extraordinary (and extraordinarily-expensive) personnel to succeed, would you? Yet, that is the firm that many have built by relying on expensive talent acquisition to gain a competitive advantage.
But what if there was a way out of the talent arms race? A way to do even better work without having to rely on an army of expensive people? There is and we’ll explore it.
Constraints: From Obstacles to Answers. Constraints are the obstacles or bottlenecks in your path that impede progress. Most experts see the progress of their firms constrained by the same few obstacles—the quality of one’s employees and clients, the prices the market will bear, the limitations of time and efficiency. But how real are these impediments?
The irony is that imposing constraints stimulates creative problem solving, so instead of removing your constraints we’re going to hit you with some exercises that add more. From there you will come up with solutions that you didn’t previously think were available to you on a whole range of revenue-generating and operational challenges.
Pricing: It’s All in Your Head. The fastest way to improve a professional firm’s profit is to spend a little time on its pricing strategy. We will.
How is it that one firm can charge one client $X for a service and another firm of similar quality can charge a similar client $5X for a similar service? What do we really mean when we talk about prices that “the market will bear”? Or forget about prices—how about payment terms?
At Revenue 2.0 we will explore cost-plus pricing (done properly), market pricing, and value pricing. There is no one right way to price professional services, but there are many ways to do all three poorly. After this discussion most firms should be able to improve their profits by 50%.
The Pursuit of Real Wealth. Allan Weiss defines wealth as discretionary time. Many principals of expert firms have learned how to make money but have never created true wealth—this combination of money and time. In addition to helping you earn more, we’ll explore how to get off the hamster wheel and reclaim your life.
Will you join us?
(We are not holding a room block, but click here to download a PDF list of recommended hotels nearest the venue.)
When & Where
Win Without Pitching, Inc. + ReCourses, Inc.
Leading the nimble marketing world with deeply rooted thought leadership and revenue model creation, around the world.