Custom services, like the work of most agencies, take time, and time is a finite resource. Productizing your services can help you grow your business efficiently. The truth is, service businesses are inherently difficult to scale. Think about it: selling digital marketing or design services involves meeting with clients, learning about their business, crafting a strategy, and executing deliverables for. This means you need to spend time up front in the sales process evaluating leads and trying doees determine how much time each project will take, which takes even more time. This helps minimize time spent on the sales process. You sfrvice promote a product using paid media, content marketing, webinars, SEO, and email without relying solely on word-of-mouth referrals. You can sell to the whole world, not just businesses in your locale. Productized services can free you from manually tackling every aspect of your business. There are three basic productized service models you could adopt when looking to sell your services like a product:.
My understanding of how to add value and how to scale content sites and online businesses completely changed. As Peter Thiel stated on the Tim Ferriss podcast , competition is actually the opposite of being capitalistic; Google makes so much money because it dominates the search and online advertising market. Find your niche and dominate it. Productization enables you to make the implicit explicit you can dominate the competition especially in opaque industries such as SEO agencies. Plus a fixed price means no more clients trying to haggle or negotiate you down and no more chasing for payment. The following businesses are both process driven productized services delivered by teams as well as productized consulting with an individual expert. Brand Builders — done for you niche and amazon sites. Superfast Business — productized coaching, website and traffic services.
How Pros Make Money Online
Growthgeeks — platform where experts and freelancers can package up their services. Whole — ecommerce marketing services for shopify. Bean Jungle — instagram marketing. Outreach Artist — influencer outreach and marketing. CopyHackers — one-off CRO copywriting website review. My Content Sherpa — monthly content marketing to grow your list. Audience Ops — content marketing for SaaS companies that includes marketing funnels and content promotion. Trust My Paper — fixed priced essay writing service.
How to productize a service
In it, I told my story of starting from scratch and eventually figuring out how to grow by productizing our business. The people who wrote to me said they felt stuck like I was. They asked for help to transition their business away from custom services and towards a productized business. First, what is a productized business? In the summer, I would wash cars or bus tables at a restaurant. That way we were ahead of the competition and could focus on getting paid. Service businesses are the easiest kind to start because they require zero up-front investment of money. It does this to the point where you can eventually step away, and the business runs without you. This is me celebrating in June with the girl who would become my wife.
Does every new client feel like starting over?
Great insights you provide on this post Nick. Last week, my partner and I were finishing up a video project on a limited schedule. Studios and distributors generally make more from domestic revenue than from overseas sales because they get a larger percentage. June 22, at AM. Actively get better by seeking mohey training videos, reading relevant books, and challenging yourself with each new job. June 27, at PM. The answer to that question usually makes for a great endorsement. JP Julpe says:. Thanks for sharing 20 tips, these kind of tips will be more successful to run the business.
I certainly have a few of. One of those options is a Productized Service. It also adds value in unique ways that neither a piece of software nor a freelancer is able to provide. A piece of software is nothing more than a tool that the customer can use to accomplish a task themselves. If they want the results the software promises, then they must be willing to put in the time to do it themselves using the software.
Productized Service?
This aspect alone adds significant value to the equation. Check out what Freedom Podcasting is doing. One of the biggest challenges most Software as a Service SaaS companies face is a high cancellation rate, a. But after that, the customer reaches a critical point where one of several things happens:. Solving the churn problem becomes their biggest hurdle. A Productized Service, on the other hand, has a much easier time combatting cancellations. Because the most common reasons for cancellation are removed from the picture. My productized service, Restaurant Engine, has benefitted from a near-zero cancellation rate. And as a productized, streamlined service, we run this process for multiple customers every week. This gives you a strong sense of validation right from the start, as you begin the work of productizing that service. I call this a Pre-Validated idea.
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