Growing a Service-Based Business

May 22nd, 2015 Posted by Uncategorized 0 comments on “Growing a Service-Based Business”

Businessman drawing a flowchart

It can be hard to scale a service business if time is your major commodity.

That’s where the concept of “productizing” a service business comes in. Productizing a service business means adapting your business model to present what you offer as a product instead of a customized service. Try the following tips to successfully productize your service business: 

  1. Automate your delivery – If you find yourself doing a lot of one on one repetitive education or training for your customers, consider recording the sessions and then selling the recordings online. This can be done as a onetime fee or as a subscription fee to generate recurring revenue.
  2. Think “what else” – Many service based companies can bundle products with their services to make additional revenue. If you own a cleaning service, for example, consider adding organizational tools or “between clean” packages that make maintaining a clean home easier for the home owner.
  3. Publish a price list – Readily available pricing information can be crucial if you want to scale from a single sale into thousands of sales. Doing custom quotes can be time consuming and may keep the number of sales down. Create a list of your most popular services and put a price next to them.

Productizing a service business may not be for you, but it can solve a number of the issues that plague small businesses. Productizing can help solve the problem of inability to scale, stress of constantly acquiring new customers and projects, and limited profits.

Kevin's Sig

Tags: , , , , , , , , ,

No comments yet. You should be kind and add one!

Leave a Reply

Your email address will not be published.

<small>You may use these <abbr title="HyperText Markup Language">HTML</abbr> tags and attributes:<br> <a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <s> <strike> <strong>