3 Techniques for Growing a Service Business

What’s up, everybody? Welcome back to the pod. Today I want to talk about the three levels of product that you can offer as a service based business. So a service based business is where you’re taking some skill that you have, right? And you’re going and you’re teaching people, you’re applying it, you’re doing work for people. Let’s say you’re a copywriter and you are going to go to small businesses and you’re going to help them rewrite their email campaigns to help with onboarding and help with customer retention and all that stuff, right? Or maybe you’re a designer and you want to go do small short video editing for creators like myself on Instagram. Maybe you’re an accountant. Like there’s all sorts of different service based businesses, right? And I think this is one of my favorite businesses for most people, just getting started off because you can do this as a side hustle while keeping your primary job. Maybe you’re working as an accountant in some firm and on the side you’re doing some bookkeeping. You’re doing, you know, whatever it is that you’re doing over, I don’t know what accounts do, but it’s a great way of building the thing without having to go all in on it because service based businesses typically have less overhead.

It’s usually just you fulfilling the thing. So you don’t need to have a big staff, you don’t need to have an office and all these other things. You can run a very highly profitable business very, very quickly. But there’s three levels to the service that you can offer, and I want to walk through these. So it gives you a framework for thinking about how you might position your product and service in the marketplace. Number one is DIY, which is do it yourself. And this is where you’re just selling the information about what you do. A good example of this is I put together a course called the Hyperfocus Masterclass.

We launched it about a year ago and since that time we’ve had about 3000 people go through the program. I put together all the information that I know about hyperfocus, about productivity, about being effective as a individual. I put it into this course that you can then go and consume on your speed, right. You’re paying for the information, but you are going to have to do the application. You’re going to have to figure out how to apply it to your own life. And because I’m just selling information, you can’t usually charge a top tier premium for that because the truth is on the Internet these days, information is readily abundant, right? Everything that I cover in the hyperfocus masterclass is already available in other places on the Internet. All I’ve really done is I’ve packaged it up and I’ve made it easy to consume in a linear, chronological way that helps save you time. So I’ve packaged information in a way that helps you save your most valuable asset, which is your time and your focus, right? So that means that information on its own is typically not going to be a high ticket item.
You’re going to be able to sell it for lower prices. Sell that course for, I don’t know, 100, $200 or something like that. It’s actually a really good value considering what the ability to focus can do for your life and your business. But anyway, okay, so that’s level one is selling information, right? Now, the other side of this is that a lot of what I do for free is selling information. So example is this podcast, right? Like this has no cost to you. You can tune in and you can get value, you can get information, get different frameworks for building your business, building your life, to maximize your return on life completely for free. So I’m selling the information for you because I know that is not the true value. The true value is the next step, let’s say, which is dwy done with you see, the beauty of, you know, DIY for some, for the creator, for the service provider is you make it once and then people will go and they’re responsible for implementing it.
The downside is, is their results are going to vary because some people will get the wrong message, some people are lazy, they’re not going to apply it in the same way. The done with you model is, hey, I sit down with you, I show you how to do it, I hold your hand, I have accountability, I help give it a little bit of personalization to make sure that you can consistently get the result that the information is intending for you to get. And the value that you’re selling here is really transformation. You’re teaching a skill and you’re making sure that they’re being held accountable and implementing the thing. And that is much more valuable for the person on the other side. But it requires your time and your energy, right? Instead of just making the thing once and giving it to people and saying good luck, Godspeed. Now you are having to sit down and hold their hand to make sure that the thing is getting done with you. This is where coaches, mentors and different programs come in and so we charge more for that.
So beyond the apex is a really great example of that. This is the community that we’re putting together. For entrepreneurs who want to maximize their return on life, it is, is a combination of information and transformation. So what that means is we have all the courses set out about how you can become a seven figure entrepreneur, how to work on the mindsets, the skills of the entrepreneur that you need to become to build this business. We talk about the fundamental business skills that you need to have. And then we talk about the specific tactical systems within your business, how to grow them to get customers, how to deliver products, and how to manage your finances.
Right?
So we’re selling the information. You can go through all that, you can apply it yourself. But then the transformation comes in the weekly coaching calls where we sit down and we say, okay, what are you working on? Let’s see your machine. Let’s pull it apart. Let’s figure out how to apply this principle that you should have learned in the information section in the course how we can apply it to your business.
Right?
And because of that, we charge way more for that product beyond the apex, right. The last level, and this is where most service providers actually begin, is the done for you model. So you go in and you’re like, I’m a bookkeeper. I will do your bookkeeping. I’m not teaching you how to do the bookkeeping. I’m not holding your hand and making sure that you’re putting the system into place and teaching you how to do it. I’m doing the graphic design. I’m making you the short video.
I’m not teaching you how to do it. I’m making it for you.
Right.
And this done for you is all about the execution. I have a task that I need executed. You’re going to do it for me. That is usually going to be the most expensive in this. Well, actually, this can be kind of a toss up depending on the value of the skill that you’re providing. The done with you might be more expensive. The done for you needs to, because you’re the one executing the work or you have a team that’s doing the work for you. You need to charge more than just selling the information and possibly more than the done with you model because the value here is that you’re just, you’re doing the work.
There’s no recurring value, though long term for you. And so it’s maybe a toss up between which one you can charge more for. But if you’re really great at what you do, like an absolute rockstar, you can 100% charge more for the execution than anything else in this equation. This is why people are willing to spend millions of dollars on the absolute best copywriter in the world or the best designer in the world.
Right?
So those are three different models. You’re probably gonna start off as the done for you. You’re going to people, and you’re saying, hey, I’ll do your videos, I’ll do your copywriting, I’ll do your bookkeeping, whatever, right? You’re doing that. But over time, you simultaneously want to be putting out information, maybe as part of your brand, your social media awareness strategy, to bring in leads. And maybe you take what you’ve learned at some point and you package it together into a program that’s maybe a low ticket offer so that you can get more clients in the door, teach, showing them the information that they need to know to grow their businesses. And in the process, they might think, hmm, well, you have the solution to these things. And actually, now that I see this, I don’t want to spend the time and energy doing the work. Maybe I’ll just hire you to do it.
Right.
So that’s how you can use information to level up into a done for you service. As you grow your brand, your recognition, and you have more leverage within the marketplace, you can then transition into a done with you coaching a community based product. And honestly, that’s the highest leverage, in my estimation, in today’s marketplace. And that’s really the place, I think, if you can set your sights on getting to in a two to three year window, you’re gonna have a very nice business that’s kicking off a ton of cash flow. That’s allowing you to focus on the things that you really enjoy and teaching the things that you really enjoy. So those are three aspects of a service based business. Think through if you’re currently a service provider, how you might be able to implement these ideas into your own business. And we’ll catch you guys in the next video.
Oh, yeah.

By the way, by the way, if. If you do want more help with this, figuring out your product, your.

Your.

Your delivery mechanism, and, like, how to scale your business in the most efficient way without, like, losing your. Your mind, go to beyond theapex.com. Apply for the community. I’ll be taking a look at that as we’re about to be launching here very shortly. So go. Go over there, beyond theapex.com. If you’re a good fit, we’ll reach out and we’ll continue the conversation. But that’s all I got for you guys.

We’ll catch you in the next episode. Until then, stay hyper focused, my friends.