One of the ways you – as an owner of service businesses – can increase your profits is to create muliple streams of small business income. And the place to start is by designing informational products. The products could be based your knowledge – things like CDs, e-books, booklets, teleseminars, and articles. You know — these are the very things you’ve been watching me develop over the years. And if you’re a US resident who has taken one of my TeleSeminars, you may have received one of my “test” CDs in the mail! They include an ebook and audio of the class. And you can create such products, too.
Another way to boost your income is to develop products that will help your ideal clients. And it’s easier then you think IF you really, really, really listen to your clients. For example, my clients complained that they had lots of ideas and that I was also giving them even more terrific marketing ideas, some of which could be used “later.” Many of the ideas they’d been keeping were written on many bit of paper. (Can you relate?)
What I heard was that they wanted a SIMPLE way to organize their ideas for future use that did not include rewriting (or retyping them) in a software program. So, I created SIMPLE IDEAS Folders.
What are other ways to create a variety of packages and products for your service business?
— Take a service you offer and package it with different products, different services, different lengths of time (if applicable).
— Many business owners place a pricing structure on their websites. Using the industry name, plus the word “rate” or “fees” or “quote,” you can find those sites on the Internet.
— Always consider the client and customer service when pricing your services, too. If what you sell requires training for your customers, you can offer a block of training hours included in the initial price, with additional training charged separately at an hourly rate of ___. The training hours can be in person, over the phone, or via email.
— Some people do advertise their prices; others don’t. Some people charge by the hour; others charge by the project (which is perceived to be more professional).
— If you list your prices – be specific. List what is included, for how many hours and/or for how many people. You might want to include a form for potential clients to complete so prices can be calculated.
— Consider charging a licensing fee. When you create a document for use by your clients, it might be a product they want to share with their clients. If so, create a licensing fee policy for that document, ebook, ereport, program, etc.
©2005 Maria Marsala, former Wall Street Trader. We help women CEOs and Presidents run more effective and efficient businesses while positioning themselves to achieve financial/personal success. Join “SIMPLE Solutions Ezine” to receive an audio and 2 reports. http://www.ElevatingYourBusiness.com