5 Ways to Build a Service-Based Business
Are you a graphic designer, wedding planner, or accountant? Then you might be looking for a way to leave your full time job and begin freelancing. Or perhaps you'd like to turn a side hustle into a service-based business.
Below are a few important business planning aspects you should keep in mind when setting off on the journey of entrepreneurship.
Get Into the Right Mindset
Here’s the problem: Most people never find the courage to actually start the service-based business they’ve been dreaming about creating. They trip up on the notion of “I don’t know enough” or “I’m not good enough” to charge for their services.
If your goal is to become the *best* before you start, you might be waiting forever. Note: This is not an endorsement for providing poor services, but a reminder that you should always strive to grow but to let your skills be enough to get started.
Build a Website
An effective website is essential for service-based businesses. The emphasis here is on the "effective" part. Your website should represent who you are and what you offer, concisely and to the point.
Make sure to grab your customer’s attention and don’t let them get lost in a non-user friendly experience. Don’t forget to add value as well. And if you already have a website, give it a second look.
Share your personal story or write about what your process for setting up projects looks like. Offer free professional tips, upload your portfolio, and add testimonials from satisfied clients.
Set Your Rates
Now we come to a common stumbling stone for most service-based business owners. How are you supposed to offer competitive rates and still charge what you know your time is worth?
This is a balance that is not always easily achieved. Undervaluing yourself is almost a natural first instinct. You will need to find the right pricing method for your industry.
It could be hourly, package service pricing, or combination pricing. If you’re a life coach, for example, it might be great to offer combination pricing because you're not going to deliver the same service to each client.
Learn How to Communicate With Clients
People form opinions about one another after the first encounter. After you've spoken to a client, they've likely already imagined what it would be like to work with you.
This doesn't mean you don't hold power over what happens next. Remember, in service-based businesses, the client is not your boss and it's okay to remind them why they've hired you.
Agreeing on a timeline and milestones is another crucial point in figuring out how to deal with clients. In many ways, it’s a business relationship just like any other.
Keep Things Simple
Try not to over-engineer the construction of your service-based business. Starting small and taking notes along the way is a great strategy.
Make sure to give yourself a few hours per day to have uninterrupted time for planning and working on the business vs in the business. What does success look like to you? Creating a simple yet effective map of this goal is one of the best ways to build your business.
Try not to over-engineer the construction of your service-based business. Starting small and taking notes along the way is a great strategy.
Make sure to give yourself a few hours per day to have uninterrupted time for planning and working on the business vs in the business. What does success look like to you? Creating a simple yet effective map of this goal is one of the best ways to build your business.
If you’re still not sure, How to build a Service-Based Business, I can help. Schedule your free strategy session now.