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Four Important Considerations When Growing a Service-Based Business

Growing a service-based business has never been easier thanks to the internet. Having said that, the main issue is how to grow it strategically in such a way that you have regular income but are not working 20 hours a day. A steady flow of leads, projects, and recurring or passive income can help you boost your profits and still maintain a work-life balance.

There are several main considerations when it comes to growing your business. Here are four to think about as you formulate your growth strategy.

1. Marketing Your Services

From the moment you start your service-based business, you will have to look for clients and projects, and then set time aside to do them well in order to get happy customers, good reviews, and hopefully repeat customers who will be glad to keep using your service. These are the main ingredients to a successful business.

When you are first starting out, you will have to contact prospective clients, look for work on freelance websites, and more. You will need to learn about what makes a good proposal that you should apply for, and the right clients to work for.

It can be tempting to try for every project when you are first starting out, but some can be more trouble than they are worth. You also hope you will get nice clients who will give you a good review that you can use as a marketing tool, but not everyone is reasonable and difficult clients can really drain your energy.

2. Building Relationships

It will take time, but ideally, you will eventually get to a point where the business comes to you, and you can pick and choose your projects. It’s all about building relationships with clients and making yourself a valuable part of their team.

This means being reliable, hitting all your deadlines, and communicating well. You should be responsive via your communication method of choice, such as email or phone. If you are working on a long project that will take more than a couple of weeks, do your client the courtesy of giving them updates every so often to reassure them that you are on track.

If anything unexpected happens, inform them sooner rather than later. Better to let them know the project might be a day or two late because you are sick with flu, and ask them if it is okay for them to wait, than to just assume.

3. Billing for Your Services

You can charge on a per-project basis, or consider offering a package of service for a fixed fee each month. For example, if you are ghostwriting an eBook for a client, it makes sense to charge a flat fee. If you are helping someone upload content to and maintain their WordPress site, a monthly fee might be a better option. You can then create invoices in PayPal ad get paid easily.

4. Positioning Yourself as a Specialist/Expert

You can make a good deal of money as a generalist, such as a virtual assistant willing to do a range of tasks, but there can be more money and prestige in specializing. For example, you might specialize in creating PowerPoint presentations or managing WordPress accounts.

You can also boost your expertise in your niche or industry by writing eBooks, presenting webinars, and so on. These can all be lead magnets for getting people on your list and willing to try your services.

 

 

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Point & click commissions [yes really]

Traditional affiliate marketing goes like this:

Spend money to build your list. Promote offers, watch your list shrink.

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Do I still need a business plan if I work from home?

Studies show that if you have a well-thought-out business plan, you boost your chances of success by more than 30 percent.
Since most businesses that start from home either go nowhere or do not succeed, this is a big deal. Because here’s the truth, businesses don’t fail for no reason.

“Remember: Most people fail, not because they lack talent, money, or opportunity; they fail because they never really planned to succeed. Plan your future because you have to live there!

“If You Fail to Plan, You Are Planning to Fail.”

Robert H. Schuller

Home business owners often underestimate their business. If you run a business from home or you are thinking of starting one, you should always value the importance and value of your home business.

A home business is not a fake business. It can be more stable than a wage job. A home business can earn millions. Where the business is located really doesn’t matter as much as you may think.
The location doesn’t define either legitimacy or potential.

Many people think of a business plan as a document you create if you need a bank loan or investors, but the truth is, the business plan is a lot more useful than that. A business plan helps you evaluate whether your idea is feasible or not.

Plus, your business plan will also inform your marketing, operations, and pretty much everything you do. Not only that, but it can also be used every single year as you update parts of it to make it even more accurate.

You should understand that a business plan that boosts your success potential is not something you can create in one day. It takes time and effort to create a quality business plan that will really set you up for success.

However, as a home-based business person, you can create a smaller plan where the summary and outline fits on one page with attachments (appendices and supporting documents) making up the rest of the business plan.

A Good Business Plan Should Include:-

  1. Your Business Vision – Answer the question about what you are building. Include specific information, including time, expertise, and the who, when, what, why and how of the business and customers you’ll serve. For example:- “Build a worldwide network of support for people who need to get healthy and lose weight.”
  2. Your Business Mission – Develop your business mission statement. The mission statement needs to include your target audience, the product or service, and what makes this product or service different. Eg. “Motivate overweight and unhealthy people to become healthier by teaching them how to change to a healthy Keto diet.”
  3. Your Business Objectives – All the goals and objectives you develop need to have a number attached to them. List everything you plan to measure, from reach, to list members, to sales, and so forth. For example, if you’re an author who wants to sell a specific number of books, you’ll state how many. or if you are a motivational speaker – “Speak about once a week for a target of at least 40 speaking events this year.” “Generate revenue of $75,000 in 2021.”
  4. Your Business Strategies – At this point, you’ll want to describe fully, in chronological order, each milestone and success you’ll experience over time. For example, “I want to become known as the go-to source for Keto Diet information.”
  5. Your Action Plan – This is one of the most important parts of your business plan as a home-based business. This is the work you’ll do. Make a list of each thing you’ll do over the next year, at least including deliverables, deadlines and results. “Develop a Keto Cookbook for Two by 3/21.” “Complete building of my studio kitchen by 2/22.”

Conclusion.

As you can see, the point of the plan is to help you know what you need to do to build and grow your business. Without the plan, you may be very busy all the time, but your busy work may not be accomplishing anything without a plan.

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Point & click commissions [yes really]

Traditional affiliate marketing goes like this:

Spend money to build your list. Promote offers, watch your list shrink.

Spend MORE money to rebuild your list.
Rinse & repeat.

It’s an unsustainable model because traffic costs & competition are increasing by the day.

So let’s try this instead:

Build your list AND generate affiliate commissions AT THE SAME TIME.
ONLY add subscribers that are truly interested in your specific offers.

Make more sense? I sure think so. And so do over 100 people who’ve
thoroughly tested and approved this brand new system:

>> Get ALL the details here!

Before now, a 2-in-1 list & commission generation platform just didn’t exist
online. Thanks to 3 of today’s leading developers, it’s a new reality.

Picture of a video player

Effortless affiliate commissions PLUS list building at the same time?

Finally, there’s an app for that.
>> Check it out here!

Rona Rivera Rahman

P.S. don’t be shocked by the low one-time price, but realize it’s only around for
a few short days. Tap into the full power of this system for a single fee now!

Rona Rivera Rahman

Connect with me on Social media 

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Finding Inspiration For Your Online Business.

Does Content Matter?

This is a phrase that you will hear a lot amongst bloggers, online experts and internet entrepreneurs. I’m pretty sure that you will have heard it yourself.

The idea is this – If you want to make money online, you have to choose a subject that you are passionate about. You need to enjoy it or else it won’t work.

It’s a good point and one that I would agree with to a certain extent. However, I do have to question this approach to starting your online business.

Creating a website or blog on a topic that you love is certainly a great idea, and it does work well for many people, but it is not the only way to go.

The first question that I see is this. What if the niche or topic you want to write about is not a particularly profitable one. It will be difficult to make any money online with it no matter how hard you try.

Suppose you love tea. You might know a lot about it, but will it make you any money online? I doubt you will earn enough to give up your day job. It would be more of a hobby.

You would certainly be able to create a popular website around tea, but what if you went with a more profitable niche instead?
You could put the same amount of time and effort and end up creating a much more lucrative business.

People may argue that “writing about what you love” is best because if you choose a niche solely because you think it is more profitable you will soon lose the motivation to keep finding new things to write about.

If you write about something you love, on the other hand, you will have content for years to come.

This may be partly true, but not completely, because many individuals are motivated by the idea of making money and becoming successful in their niche.
In other words, if you start a blog on a profitable subject and you see that your efforts are starting to bring traffic to your site, this will provide the motivation you need, no matter what the topic is. You can research and learn about your subject as you build your business.

So what are my thoughts on these two strategies? I think that they can both work.
Choosing a niche or topic because you love it is a good route to success, but choosing a profitable one and approaching it scientifically can be equally successful.

Unless you have your ideas already worked out it can take a little bit of research to discover the best niche for you to write about.
You should consider some of these important factors when it comes to choosing your niche:

• What excites you and energises you? If you blog about your passion, you are never going to struggle for content.
• If you have a hobby that you are an expert in or job role then you have a distinct advantage over most of the others who are interested in your niche. You are already and authority.
• You may not be an expert, but you may have the interest and knowledge to create a lot of good subject matter. This way you can create a lot of content for the search engines spiders.

By learning all about your niche and making it your focus or business, you can take an audience on your journey from novice to expert. This is a very good way to create a community around your niche.

You could try blogging about hot topics and trends but this doesn’t tend to be sustainable. It can be good for short term niche blogging and Google traffic as these current niches are trending.
Whatever you do, if you take on a niche, make sure that you are not going to run out if content and that it has the potential to make money and give you the lifestyle that you want. 

If you want to create an internet income of your own, product creation may be something you need to look at. Check out this free training webinar with John Thornhill, one of the 1% top sellers in the world. It is just what you need to set you on the road to success.

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