Some of these MPSs are too good to ignore and fully encompass the idea of a PPP (predictably profitable passion).
I’m going to explain some of the businesses I’m working directly with and try to explain what the difference was between the old methods of these businesses and the results when we updated them to an MPS.
Here are 9 more in case there aren’t enough.
These businesses were consulting services and even high-ticket coaching. Hours and hours were wasted searching for clients and revenue was never sustainable. Transitioning to an MPS meant customers purchased automatically, without any sales calls, and got results immediately.
Here’s how we sell a service-based business like a SaaS app…
I found a blogger and fashion consultant doing a little less than $500/mo between her website’s monetization & her actual consulting. If you can’t do that math, it’s way less than she should be making and just about 1 client each month.
How was she getting customers: Using her fashion blog and charm, she would simply cold email people she found weren’t wearing the greatest outfits in their videos, profile pictures, etc.
A surprisingly solid approach and one that should have worked much better for her. The reason it wasn’t working was not because of her sales ability, but because she was selling at all.
We turned her consultancy upside down and transferred all sales to a questionnaire where people would submit their information and be directed to a signup form. The signup form was for a monthly subscription to her fashion consulting. Interesting, right?
Taking the same exact services and offering them on a subscription. On an unlimited basis. For a much lower price.
This means we were able to hit 12x more people since none of our time was being spent on sales calls and qualification meetings. Customers would qualify themselves. When it came time to throw down the money for their first month, they were so eager to get started, see results, and get consultation immediately, that they subscribed without hesitation.
Now, the services provided in this subscription were not much more than you’d expect from the one-on-one consulting as it were. The only difference is that this is one-on-one at scale.
New customers were put into a series of forms asking for their style, personality, photos of their outfits, their wardrobe, etc. This was all that was needed for our fashion expert to jump in and start giving extremely valuable insights.
In addition to answering tickets about current outfits, matching patterns, and help on what to were to tonight’s gala, the membership also comes with daily deals and other side-benefits that keep everyone engaged and eager to remain a member even well after their initial problem is solved.
Fashion is never solved.
This MPS works so well because it’s a service that can (and should) be solved at scale. I know exactly where we’ll be taking this MPS once we hit a certain level of MRR.
This is one that I have been seeing a lot of advertising for and for great reason.
Everyone is building more and more video these days and nobody has the time (or simply do not want) to edit them all. Video editing is one of those tasks that you should absolutely try to hire yourself out of as soon as you possibly can.
That is why the opportunity for video editing MPSs is so great.
I have been working with vloggers who are trying to sell their video editing and filming services to higher ticket clients and get them on retainers to film all their content. They’d reach out to real estate professionals who need video of their latest listings, and even try to find other brands who need fashion videos or showcases of their products, for example.
The very same issue remains that our fashionista friend above experienced. The sales process bogged down the entire business.
We had to define an MPS out of this entire business and it ended up being video editing.
What was the one thing that we could solely focus on that certain & specific people could get use out of immediately? The editing of their videos was the obvious answer.
Now, for just a few hundred dollars each month, this organization will edit up to 12 videos equating up to 3 hours.
As for the video editors, it’s just 2 fellows who have essentially built their very own freelance marketplace.
- They can open up their ticketing system
- Find the jobs that have to get done, waiting for them
- Open up a task
- Mark it as complete
- Move on to the next ticket in the queue
- Receive monthly payments resulting in predictable profits
With the change of a few tiny tweaks in their model and on their site, they went from struggling vlogger to thriving business owners. All while continuing to work on their passion and do the things they want to be doing with their time.
I’m even trying to get my mother to get on this one.
Proofreading is a surprisingly lucrative and simple-enough job to get going into a side career.
The act of proofreading is simple enough that just about anyone who can read and write can learn to do effectively enough to sell, and the act of selling it is easy enough since literally everybody has to write things at some point.
This MPS is one that there is ample opportunity for.
Imagine you’re a streaming service. Instead of watching TV shows, we’re proofreading. That’s the way to look at this model since they’re typically being offered on an unlimited basis. The reason they’re unlimited is because it results in predictable profits.
If you want my free template that can get your proofreading site up and running by the end of the day, join my free training.
This model is almost identical to the proofreading MPS but has even better rewards since there’s even more opportunity for it.
As we said above, everyone is creating more and more video and they all need to be transcribed if they’re going to try and repurpose any of that content for later use.
The MPSs I’m seeing that are revolving around transcribing are killing it for this reason. The best part is, so much of the ‘grunt work’ of this task can be outsourced at extremely low costs making the margins that much higher.
The model of nailing down an MPS, no matter the service, and even in agency work, is astounding.
Finding Your MPS
Now, if you found these examples inspiring and you’d like to see how you can find your own MPS or tweak one of the businesses above to make your own, I’d like to invite you to a free 70-minute training where I walk you through how I built Broker Buffs (a 5-figure/mo MPS) and how I’ve assisted in the businesses you learned about above.
I discuss the major things we did to build up from nothing and how I got our MPS out to the masses without spending months failing and draining our bank accounts.