PPGM vs Online Only
Aug 06, 2024We get a lot of requests for people who want to build online businesses and it makes sense why they’d want to go that route.
The dream is easy to sell. But… takes WORK to execute.
“All you need to do is sign 5 clients a month and you’ll be rich”
“All you need to do is run ads and clients will roll right it”
Well… it doesn’t really work like that.
So let’s dispel a few myths and key concepts that differentiate the Performance Provider Growth Model (PPGM) from Online only business models.
The PPGM is a model that is built locally but scaled through a virtual/online mechanism. But what does that even mean?
One of the biggest challenges with Online only business models is the lag time between business creation and meaningful revenue. Part of the reason for that is due to how long it takes for trust to be built and client conversations to mature into something meaningful. Plus, add in all the work to carefully craft your message and repeat it long enough for your audience to begin to build.
With the PPGM, we are able to speed up that process significantly by using one of the most beneficial parts of an in-person business, relationship marketing.
When you network in-person, you can build the relationship so much faster and with more depth than solely online.
I know right now you’re probably saying - “but Ray, you built an online business…” - yep, and I also use in-person networking as a way to scale my business. It’s extremely powerful.
The second issue we tend to see with online only models is attempting to scale or build the business from a model that was established in 2020 or 2021. Now, the businesses that were created in that timeframe can still be flourishing because they capitalized on the online goldrush in a sense and have authority in the space, BUT consumer behavior is MUCH different now that it was during covid times.
So how does the PPGM work?
By leveraging a high value in-person experience and combining it with a virtual mechanism that can help get results asynchronously (aka without a direct trade for time).
So let’s say we have a client who needs our help. We would sell them a plan of care, let’s say 10 visits over the course of the next 4 months AND enroll them in a subsequent offer, a Prescriptive Exercise Program, that would extend BEYOND the in-person portion of our service. Thus creating recurring revenue in the business.
This allows for enough baseline workload and graded exposure to take place so we can get a complete outcome. Notice our model isn’t about speed to pain free, it’s about a long enough time horizon to ACTUALLY solve this person's problem.
So if you’re considering building an online business, just set some realistic expectations. It’s not to say this can’t be done, or to deter you, yet help better inform you on the reality. Let’s get you thinking in terms of years vs months.
If you’re looking for a model that’s flexible, that allows for fulfillment and opportunity like an online business but can be a quicker timeline to meaningful revenue, I’d recommend you look into the PPGM as an option.
Interested in learning how to apply this to your clients?