Get Clear on Your Business Model
Often confused with the term “strategy,” a business model describes how the pieces of a business fit together (Magretta, 2002). It clarifies who the customer is and how a business earns.
Bob Ross knew his audience well, and he wanted his viewers to feel like every episode was a 1:1 painting session with him. Smart move.
Though he did all 403 episodes of his show for free, Bob Ross Inc. (BRI) grew into a mammoth corporation by selling art supplies, how-to videotapes, and classes. The company has been so successful that it’s still thriving today. Ross’s videos are now monetized through his official YouTube channel (run by BRI), which now has over 4.98 million subscribers!
- Stop trying to target everyone. Focus is every successful entrepreneur’s best friend.
- Once you know who your audience is, get clear on how you’ll serve them. Don’t be swayed by shiny strategies that don’t stick in the long run.
Enjoyed this post? Sign up for Process, my free newsletter on the art of lifelong learning and creative living, meant to be read by young adults (and the young at heart) in pursuit of wisdom and wonder. ✨