Much like our last show, this question goes out to all of you that do not have a physical product but almost an intangible one. Is that what you are, or what you have? If so, many of the same things I discussed in my previous blog will apply here with a few varied exceptions.
If you've ventured into this type of business or have only been a small part of one, let me assure you, it is a business to offer someone, something you can do for them and there doesn't have to be a physical product.
A consulting service is very relevant here; we see them everywhere. In fact I have done my fair share of consulting and it can be very helpful to specific people and small to large companies. It's all service based, and what you need to remember is that you are there to help.
One of the best things you can bring to the table is an attitude of ownership.
Or better said, act and work as if that is your company.
So how do you determine if you are providing a viable service apart from answering any and all of the questions from our previous blog?
Let's take a cleaning service for example. Is there a demand for homes or offices to be cleaned in your area? What will separate you from everyone else? Will you just do offices or will you do all types of cleaning? All of those types of questions need to be answered.
What are you willing to do? What type or kind of work is sustainable and have you factored in the fact that when you aren't working, you probably aren't making money?
On the subject of money, here again, if you have done your research and you are offering your service at good market value, the trickiest part to working for yourself and providing a service is your motivation.
Being motivated by making money here will turn your customers off very quickly.
They want and need your buy-in to make their business better. It's all about them... not you.
A viable service will come in varying degrees. If you have a service based business, the best thing you can do is provide something for your client or their customers, that makes their life or company even better.
How do you assign cost to a service
Your experience has value
There are many ways to get paid as a service provider
Use measurable items, ie. revenue/profits
Your success breeds more clientele
Location is a factor in reference to opportunity and clientele
Evaluate your hard costs
Gather and share testimonies from other clients
You don’t get paid in many service based businesses if you aren’t working
Can I create residual income
Don’t let money be your motivator
The best service oriented businesses place a high emphasis on values