Fee for Service vs. A Partnership Model To Help You
Listen, I’m going to make a bold statement, “Fee for service will NEVER get you where you’re looking to go and will be the fastest path to overwhelm, confusion and frustration in your life & business!”
What do I mean? Well, first before I explain what I mean, you must understand what the difference is between fee for service and a partnership model.
What is “fee for service”?
Fee-for-service (FFS) by definition on Wikipedia is a payment model where services are un-bundled and paid for separately. In health care, it gives an incentive for physicians to provide more treatments because payment is dependent on the quantity of care, rather than quality of care.
To me, “fee for service” is when you hire someone to do a specific job and you pay them a set price for that specific job you pay them for. For example, you hire a plumber to fix your toilet problems. The plumber fixes the problem so that your toilets flush properly. You pay the plumber a set price for the job.
Fee for service in the world of internet marketing and digital marketing looks like hiring someone to run your Google Advertising otherwise known as PPC or Pay Per Click. You may pay a set monthly management & optimization fee such as $3,000 per month or you may pay them a set % such as 15% of ad spend. For example: you run $100,000 per month in advertising on Google and they are paid $15,000 per month to manage that ad spend.
Fee for service is great when you get results for what you’re paying for and you’re happy with the level of performance without having to manage every part of the process or without having to manage the person doing the work.
Where fee for service becomes a problem is when you have to hire 3, 4 or 5 people to do specific jobs and then you’re now a HR manager and a project manager of tasks that you know nothing about. This is where most people run into problems and challenges and end up wasting a lot of money and becoming very frustrated thinking, “this doesn’t work.”
What happens is that it takes you out of your “circle of expertise.” When you are taken out of your circle of expertise, you are unfocused and generally unproductive therefore results are dismal.
What does this “circle of expertise” mean?
Circle of expertise means that you have a specific expertise and you stay in the circle without jumping out of it to focus on things you either don’t know or are not good at.
My “circle of expertise” is strategy and creating winning offers for myself and for others. This is why people hire me to put together the strategy and road map to their $1 million per year or $1 million per month business online. We call this a Funnel Day and you can learn more about it at www.FunnelDay.com. This is also why people partner with me to help them create winning offers to bring to their market.
As an expert you want to stay in your circle of expertise and never step out of it. That’s the sweet spot. That’s the spot that people call “being in the flow” and where the magic happens.
Unfortunately, most people are trained to hire “fee for service” companies or people to help them launch their expertise and it’s probably why only a few % of the experts in the world are actually wildly successful.
Think about it, if you are constantly focused on hiring or managing and your expertise is NOT hiring or managing others in an area that you aren’t an expert in… what do you think is going to happen?
Well, I hate to break it to you… but what you focus on expands. So, if you are focused on hiring and managing others, then you will become the expert in hiring and managing others. As an expert, unless your expertise is hiring and managing others, you will not become who the world needs you to be.
So, my suggestion is that you STOP jumping out of your circle of expertise and stay in your own circle of expertise. Partner with others who can bring the skill sets that you need in order to flourish and thrive.
Next, let’s talk about the Partnership Model.
I personally LOVE the partnership model, because you get to partner with others who have expertise in specific areas such as advertising, branding, marketing, copywriting, funnels, creating winning offers, etc… while you stay focused in your “circle of expertise” which is the highest and best use of where you should be focusing your time, energy and resources.
The partnership model is normally setup where the people that you partner with get a % of actual revenue that is produced. It’s a pay for performance model. I love this model because the greater the results, the greater the pay day for everyone.
Personally, I like the team that I work with to have skin in the game. Partnership is a way of getting everyone on your team to have skin in the game and when you win, they win!
The key here is really to partner with a team or people who have proven results of winning.
For example: we have hit the two comma club more than once for ourselves and for our clients. We have even hit the 8 figure club meaning we have generated over $10 million through funnels and specifically through one platform called ClickFunnels.
I highly recommend and love ClickFunnels for the power that it has and for its ability to “print cash on demand.” Who doesn’t love to print cash on demand right? Before ClickFunnels we had to duct tape all types of software together. Now, with ClickFunnels, it’s all there setup for us to WIN. ClickFunnels is cheap compared to what it can do for your business. I would pay $1,000 a month if I had to and thankfully I only pay a few hundred dollars a month to use and leverage the power of ClickFunnels.
Keep it simple with your software. Don’t let people convince you that you need some complicated, confusing system. You don’t. ClickFunnels has everything you need to generate leads, convert sales and create a community of raving fans. The only thing you need is to bring your expertise to the table and staying in your circle of expertise will allow you to do that.
So, in my opinion, the partnership model is the absolute best model when it comes to launching and monetizing your expertise online. Find partners that are great at: advertising, marketing, funnels, creating offers that win and a biggie: optimization and scale.
It’s important that you find partners that will fine tune, tweak and adjust your ads, adjust your funnels and adjust your offers in order to produce conversions.
Do NOT believe for a second that you will just build it once and then it’s good to go and you’re done. That is a lie and anyone who has been around for any length of time will tell you that it takes constant and never ending improvement, known as Kaizen, which is a philosphy that is part of our core value system at Perfect Funnel System.
If you would like to talk about how we can help you launch your expertise while you stay in your circle of expertise we would love to chat. Simply click here to schedule a call and one of our digital marketing experts will assess your unique needs.
The world needs you to remain in your circle of expertise, delivering content that will train and inspire others to go to the Next Level in their lives and businesses. If you jump out of that circle, you will find yourself frustrated and running in circles going nowhere and I don’t know about you, but life is too short to be running in circles not advancing.
Always in your corner,