Creating a business that offers a service can have great advantages when compared to retail businesses. You can offer a service with very little to no start-up cost at all depending on what you offer to do for people. No inventory to handle aside from maybe some supplies to aid in performing your service, but wait. What about your time? If you are going to offer a service to people, then does that mean with each new client, you will lose that much more of your free-time? Yes, if you are just performing tasks for others then your time will get eaten up very quickly, the better you get at your service. On the other hand if you are running a business that offers a service, that is a different story.
That’s a Nice Hats You’re Wearing There
Here’s where a lot of micro-business people have a hard time transitioning into a small business, they get too caught up working for their business that they forget to work on their business. If you are concerned about losing your free time, than the biggest mistake you can make is to wear too many hats at once. Handling all your clients, ledgers, advertising, marketing, promotion, planning, and more all on your own will have an obvious consequent on your time. To save your precious time, you need to own your business, or else it will own you. Before you get too many clients to handle you need to start developing a system, and then manage it, own it. Your business is the system, not the services being delivered. This is why you see so many different companies that offer the same exact services or products. At least they seem the same right? Wrong, because you can buy a cheeseburger from Burger King just as well as you can from MCDonalds but everyone will tell you they are far from being the same. That is because they have a different system for delivering the same product. Just like a machine is a system of moving parts, you must be willing to outsource different tasks of your service, in order to expand without losing time.
Is Your Service Trainable or Lucrative?
If you are going to offer customers a service from your business, the shorter the learning curve for hired help the better. Bare this thought in mind when deciding whether or not to go into business offering a service: Could you easily train some random individual to do what it is you do in less than a month? If the answer is no, then you should be seeking a lucrative approach to your service. The only thing about lucrative type businesses is that the reason why they are so profitable is because its jobs require a lot of training and possibly schooling as well. A lucrative business would be a doctor who has his own practice, a lawyer with their own firm, a real estate agent, etc. You don’t have to have so many clients in a lucrative business to create a nice living and still have time, but the thing to remember is when you go on vacation, so doesn’t your business and your salary! A service that is highly trainable will enable you to focus more on your business design and manage the systems, but a highly trainable service might not make you rich overnight. Know what you are getting into before you begin.
Anything You Can Do I Can Do Better
Never be afraid to outsource tasks to others if you are going to build a business that offers a service, even if the job is highly trainable, to save your time. Some people may be afraid that if they teach someone to perform their business’ service then that individual could take those new skills and become competition. That could be true, but highly unlikely without further education, resources, relationships, and drive. Remember, your service is not your business, but the system that drives that service is your business. They may be able to go into business for themselves doing the same thing you do, but can they deliver better results? So if you are going to create a business that will offer a service, than you must put together an efficient system/method for delivering your service, then outsource the trainable tasks that can be handled by employees or assistants.
Here’s where a lot of micro-business people have a hard time transitioning into a small business, they get too caught up working for their business that they forget to work on their business. If you are concerned about losing your free time, than the biggest mistake you can make is to wear too many hats at once. Handling all your clients, ledgers, advertising, marketing, promotion, planning, and more all on your own will have an obvious consequent on your time. To save your precious time, you need to own your business, or else it will own you. Before you get too many clients to handle you need to start developing a system, and then manage it, own it. Your business is the system, not the services being delivered. This is why you see so many different companies that offer the same exact services or products. At least they seem the same right? Wrong, because you can buy a cheeseburger from Burger King just as well as you can from MCDonalds but everyone will tell you they are far from being the same. That is because they have a different system for delivering the same product. Just like a machine is a system of moving parts, you must be willing to outsource different tasks of your service, in order to expand without losing time.
Is Your Service Trainable or Lucrative?
If you are going to offer customers a service from your business, the shorter the learning curve for hired help the better. Bare this thought in mind when deciding whether or not to go into business offering a service: Could you easily train some random individual to do what it is you do in less than a month? If the answer is no, then you should be seeking a lucrative approach to your service. The only thing about lucrative type businesses is that the reason why they are so profitable is because its jobs require a lot of training and possibly schooling as well. A lucrative business would be a doctor who has his own practice, a lawyer with their own firm, a real estate agent, etc. You don’t have to have so many clients in a lucrative business to create a nice living and still have time, but the thing to remember is when you go on vacation, so doesn’t your business and your salary! A service that is highly trainable will enable you to focus more on your business design and manage the systems, but a highly trainable service might not make you rich overnight. Know what you are getting into before you begin.
Anything You Can Do I Can Do Better
Never be afraid to outsource tasks to others if you are going to build a business that offers a service, even if the job is highly trainable, to save your time. Some people may be afraid that if they teach someone to perform their business’ service then that individual could take those new skills and become competition. That could be true, but highly unlikely without further education, resources, relationships, and drive. Remember, your service is not your business, but the system that drives that service is your business. They may be able to go into business for themselves doing the same thing you do, but can they deliver better results? So if you are going to create a business that will offer a service, than you must put together an efficient system/method for delivering your service, then outsource the trainable tasks that can be handled by employees or assistants.
