Service businesses represent over half of all businesses in the US and over 70% of all business activity. However, they are notoriously hard to scale.
Why? Services business don't have the luxury of stamping out the same widget after widget and selling them on shelves. They require people, and often times lots of them. You can't create carbon copies of people (yet) which makes it difficult to keep things consistent as you grow.
In this issue, we’ve collected some of the best articles and resources on how to overcome the challenges of scaling these types of businesses and how to make the businesses both profitable and easy to manage.
To learn more, read on.
And if you want to learn more about our service-based business coaching (and see me sporting a dashing goatee), check out our website.
Founder and CEO
Eckfeldt & Associates
THE SECRETS TO SCALING A SERVICES BUSINESS (HINT: THINK LIKE A PRODUCT BUSINESS)
By Bruce Eckfeldt
Service-based businesses are notoriously hard to scale. These three steps will make it easier to accelerate the process.
HOW TO SCALE A SERVICE-BASED BUSINESS
By Scott Gerber
This is a nice collection of tips and tricks from young entrepreneurs who have been successfully growing their businesses. It includes everything from tech, to outsourcings, to partnerships.
HOW TO SCALE A SERVICE BUSINESS WITHOUT THE BS
By Jon Westenberg
If you only have time for one section of this article, read part three on hourly rates. Totally agree with Jon on this one. (Warning, the title of this section is NSFW.)
BUSINESS SCALING CHALLENGE: SHIFTING FROM SERVICES TO PRODUCTS
By Mohan Sawhney
Mohan does a great job of explaining why ALL startups should start with services to learn about their clients and their needs. If you’re a services company, watch this video to see how you can turn insights into ideas.
OTHER NEWS AND UPCOMING EVENTS
Planning Intensive - March 5th and April 15th - 9:45-4:15 - Manhattan
Our One-day Planning Intensive is specifically designed to give early stage Founders and CEOs focused time to work ON their business instead of IN their business.
"Bruce did an exceptional job illustrating specific processes and methodologies that take the guesswork out of strategy development and execution."
~ Will Willis, Founder