Make More Money From Your Service Business

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Want To Make More Money From Your Service Business?

I would like share with you a simple mistake that I’m making in my business right now, that could actually be costing me tens of thousands of pounds in revenue every single year.

My guess is that most service based business owners are making this mistake and they don’t even realise they’re doing it.

The chances are, if you have a service based business, you’ve come up against this issue…

They Can’t Afford Your Services

Now, one of them is the fact that some people won’t be able to afford your service. 

That’s completely natural and, actually, those people are selecting themselves to not be in your business and that’s actually a good thing.

Now I’ve talked about that in avatar videos before so I won’t go into it her but…

What is really important to think about is that those people who leave your site because they can’t afford you, may never actually spend any money with you because they can’t afford that main core service… and if that’s all you do, there’s nothing you can do about that.

What Can You Teach Them?

But, what if, instead, you could actually take all the people who wanted that service but maybe couldn’t afford it and give them a product that they could afford which gives them a lot of the insights?

You could give them something that shows them what you would do in the service, but doesn’t actually do it for them.

All it has to do is give them all the pointers that they need to actually go and do that thing themselves.

This can be done in either the business market or the consumer market, depending on what it is that you do as your service.

Either way, you can help those people to get further towards their goals by informing them about what it is that you do and how you do it.

It can be a simple video course, it can be a way in which they can train at home (for example if it’s the fitness industry) or a way in which they can run Facebook Ads (if it was my industry, for example.)

It would be a way that would  actually be able to build trust with those people and be able to deliver something that would really genuinely help them.

It’s something, after all, that they need, that’s why they came to you for the service in the first place. But, because they can’t afford it, instead, you’re giving them another way in which they can give you some money and you, in exchange, can give them fantastic value.

So, rather than paying, let’s say, £1,000 a month for the service, instead, they might end up paying you a one-time fee of £200 or £300 to get access to that training programme.

Now, the cool thing about that, is that it starts to build trust.

If You Teach Them They Will Come… Back

If they apply what’s in that course that you’ve created, eventually they can actually afford your service and they’ll probably hire you because who else are they going to hire?

You’re the one that taught them everything they know, quite literally about that topic.

So, if they can go and hire you straight away to do that service, safe in the knowledge that you really know what you’re talking about, that’s why they’re so good at doing the thing that you taught them.

It’s very simple. You just create a product that’s based around the topic that you run your service on and by doing that, you build trust and, also, add an extra income stream with your business that would otherwise never have been there.

I’ve calculated already that if I was to sell even just a few copies of a course about Facebook Ads every year, I would actually be making an extra 10 or 20,000 pounds per year just by doing that.

So, that’s something I’m doing right now. I’m focussing on building a Facebook Ads course and, also, some other courses to help people out there who want to generate more leads from their website.

If, incidentally, you  have any questions or anything that you would love me to create a course where I could show you exactly how to do something, please leave a comment below and I’ll be really interested to find out what that might be.

So, if you have a service business, then start to productise your knowledge and start to actually create those products to help people who are out there.

Those people will thank you massively, you’ll build trust with them, they’ll obviously give you money so it will increase your income and, ultimately, those people could turn into great customers for your service a bit later on down the line.

Did you enjoy this article? Got a question or comment? If so, please leave it below in the comments section and I’ll reply as soon as I can.

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About the Author

Matt Duggan is the founder of LeadGenSocial.com and the director of digital marketing agency RoarLocal. He’s passionate about entrepreneurship and loves helping small businesses to grow thanks to social media advertising.

He’s also a hardcore chocolate addict, but is working on this.

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