How to Teach Older Business Owners New Tricks to Grow Their Business Using Your Technical, Blogging, Shopify, and Social Media Skills
If you possess skills in technology, blogging, website setup, Shopify, and social media, you have a valuable opportunity to help older business owners modernize and grow their businesses. By coaching, setting up, and consulting, you can create a side hustle and generate random income while empowering these business owners with the knowledge and tools they need to thrive in the digital age. Here’s how to teach “an old dog new tricks” and turn your expertise into a profitable venture.
Understanding the Value You Bring
Older business owners often have extensive industry knowledge and experience but may lack familiarity with modern digital tools and strategies. By bridging this gap, you can help them reach new customers, improve efficiency, and increase revenue.
Steps to Teach and Transform Their Business
1. Assess Their Current Situation
- Conduct a Business Audit: Evaluate their current business operations, online presence, and marketing strategies.
- Identify Gaps and Opportunities: Highlight areas where digital tools and strategies can make a significant impact.
2. Develop a Tailored Plan
- Set Clear Objectives: Work with the business owner to set specific, measurable goals (e.g., increasing online sales, improving social media engagement).
- Create a Roadmap: Develop a step-by-step plan that outlines the necessary actions and timelines for achieving these goals.
Implementing the Plan
3. Website and E-commerce Setup
- Website Design and Setup: Create or revamp their website using user-friendly platforms like WordPress or Shopify.
- E-commerce Integration: Set up an online store on Shopify, complete with product listings, payment gateways, and shipping options.
- Training: Teach them how to manage the website and online store, including updating content and handling orders.
4. Blogging and Content Marketing
- Content Strategy: Develop a content strategy that aligns with their business goals and target audience.
- Blog Setup and Optimization: Set up a blog on their website and optimize it for SEO to attract organic traffic.
- Content Creation: Coach them on creating valuable content, or offer to write initial posts to kickstart their blog.
- Promotion: Show them how to promote blog content through social media and email newsletters.
5. Social Media Management
- Platform Selection: Identify the most relevant social media platforms for their business (e.g., Facebook, Instagram, LinkedIn).
- Profile Optimization: Optimize their social media profiles with professional images, descriptions, and contact information.
- Content Calendar: Create a content calendar to ensure consistent posting and engagement.
- Training: Teach them how to create engaging posts, use hashtags, and interact with followers.
Coaching and Consulting for Long-Term Success
6. Regular Coaching Sessions
- Weekly or Bi-weekly Meetings: Schedule regular coaching sessions to review progress, answer questions, and provide ongoing support.
- Workshops and Webinars: Host workshops or webinars on specific topics such as SEO, email marketing, or advanced social media strategies.
7. Offer Consulting Services
- Business Strategy: Provide strategic consulting to help them adapt to market changes and new opportunities.
- Performance Analysis: Use analytics tools to measure the performance of their digital efforts and adjust strategies accordingly.
Monetizing Your Skills
8. Create Packages and Pricing
- Service Packages: Develop service packages that combine website setup, blogging, social media management, and coaching.
- Flexible Pricing: Offer different pricing tiers to accommodate varying budgets and needs.
9. Market Your Services
- Build Your Online Presence: Create a professional website and social media profiles showcasing your expertise and services.
- Content Marketing: Use content marketing to attract potential clients by sharing valuable insights and success stories.
- Networking: Attend industry events, join online forums, and leverage your existing network to find potential clients.
10. Collect Testimonials and Case Studies
- Client Success Stories: Collect testimonials and case studies from clients to build credibility and attract more business.
- Showcase Results: Highlight the tangible results you’ve achieved for other clients, such as increased website traffic, higher sales, or improved social media engagement.
Conclusion
Teaching older business owners how to leverage modern digital tools can significantly grow their businesses and open new revenue streams. By using your technical, blogging, Shopify, and social media skills, you can create a side hustle that not only generates random income but also makes a meaningful impact on their business. Through coaching, setup, and consulting, you can turn your expertise into a profitable venture while helping others succeed in the digital age. Remember, patience, clear communication, and demonstrating the value of each new tool or strategy are key to effectively teaching and transforming their business.
How Much Money Can I Make “Thinking out of the box” and helping business owners grow their business with my skill set?
How to Bill What You Are Worth as a Consultant Doing a Side Hustle and Asking for a Success Bonus
Billing what you are worth as a consultant, especially when doing a side hustle, is essential to ensure that your time and expertise are appropriately compensated. Incorporating a success bonus based on the increased profit of the opportunity can further align your interests with those of your clients, motivating you to drive better results. Here’s how to effectively structure your consulting fees and success bonuses, using an example for clarity.
Setting Your Hourly Rate
Let’s say you charge $100 per hour for your consulting services. This rate reflects your expertise, market rates, and the value you provide. For this example, you plan to work 5 hours a week.
Weekly Earnings from Consulting: 5 hours/week×$100 /hour=$500 /week5 \text{ hours/week} \times \$100 \text{ /hour} = \$500 \text{ /week}5 hours/week×$100 /hour=$500 /week
Monthly Earnings from Consulting: $500 /week×4 weeks=$2000 /month\$500 \text{ /week} \times 4 \text{ weeks} = \$2000 \text{ /month}$500 /week×4 weeks=$2000 /month
Incorporating a Success Bonus
A success bonus incentivizes both you and your client to achieve the desired outcomes. Let’s set the success bonus at 5% of the increased profit.
Assume your consulting leads to a profit increase of $10,000 per month for the client.
Monthly Success Bonus Calculation: 10,000 profit increase×5%=$500 success bonus10,000 \text{ profit increase} \times 5\% = \$500 \text{ success bonus}10,000 profit increase×5%=$500 success bonus
Example: Combined Earnings
Combining your hourly rate and success bonus, your total monthly earnings would be:
Total Monthly Earnings: $2000 (consulting fees)+$500 (success bonus)=$2500 /month\$2000 \text{ (consulting fees)} + \$500 \text{ (success bonus)} = \$2500 \text{ /month}$2000 (consulting fees)+$500 (success bonus)=$2500 /month
Long-Term Value of the Opportunity
Let’s project the long-term value if the client retains your services for four years, and you only work 20 hours initially but continue to receive the success bonus monthly.
Total Hours Worked Initially: 20 hours×$100 /hour=$200020 \text{ hours} \times \$100 \text{ /hour} = \$200020 hours×$100 /hour=$2000
Total Success Bonus Over Four Years: $500 /month×12 months×4 years=$24,000\$500 \text{ /month} \times 12 \text{ months} \times 4 \text{ years} = \$24,000$500 /month×12 months×4 years=$24,000
Total Earnings Over Four Years: $2000 (initial consulting fees)+$24,000 (success bonus)=$26,000\$2000 \text{ (initial consulting fees)} + \$24,000 \text{ (success bonus)} = \$26,000$2000 (initial consulting fees)+$24,000 (success bonus)=$26,000
Example Breakdown:
- Initial Work: 20 hours @ $100/hour
- Initial Income: $2000
- Ongoing Success Bonus:
- Monthly Bonus: $500
- Annual Bonus: $500 * 12 = $6000
- Four-Year Bonus: $6000 * 4 = $24,000
- Total Income:
- Initial Consulting Fees: $2000
- Total Success Bonus: $24,000
- Combined Total: $26,000
Projected Hours Worked vs. Income Made
- Hours Worked Initially: 20 hours
- Total Income: $26,000
- Income Per Hour (Including Success Bonus): $26,00020 hours=$1300 /hour\frac{\$26,000}{20 \text{ hours}} = \$1300 \text{ /hour}20 hours$26,000=$1300 /hour
Conclusion
Billing what you are worth as a consultant involves setting a fair hourly rate and incorporating a success bonus to align your interests with your client’s success. In the example provided, an initial investment of 20 hours at $100 per hour, combined with a 5% success bonus on a $10,000 monthly profit increase, results in significant long-term earnings.
By understanding the value of your work and structuring your fees accordingly, you can maximize your income as a side hustler while delivering measurable results for your clients. This approach not only ensures fair compensation but also demonstrates your commitment to your client’s success, fostering long-term professional relationships and ongoing opportunities.
