Feedback Form
Home Features Mastermind Videos About Advertise Blog Network Contact
   

Have A Suggestion?
Toronto Salsa Classes / Toronto Salsa Lessons Email us your ideas on how to make our website more valuable! Thank you Sharon from Toronto Salsa Lessons / Classes for your suggestions to make the newsletter look like the website and profile younger entrepreneurs like Jennifer Lopez and Sean Combs!
Have A Suggestion?

Featured Ebook


ebook Famous Entrepreneurs - Modern Empire Builders


Featured Ebook

More Evan Carmichael
Have A Suggestion?

Sales Lessons From Starbucks And Dell

Focus pays off for service business



Focus pays off for service business
   

There are plenty of organizations out there that need your help. All you have to do is figure out what they want and deliver it. “I saw a market niche that fit perfectly with my background,” says entrepreneur Jenny Faucher.

Faucher owns Managing Matters Inc. (www.managingmatters.com), a boutique association management firm that provides on-demand support services for professional, industry and trade associations. For example, an association of young entrepreneurs would hire her firm to manage its database, organize member events and keep accounting records current.

“We are often approached by associations that are being run by one person in a home office,” explains Faucher. ”We provide a virtual support team for the association to help it manage all functions.”

Faucher followed the advice frequently given in this column to start a business that fits with her background. “It was an opportunity to use my years of experience in association management and event planning to support Boards of Directors and Executive Directors. I know how associations work, what they need and how to create smooth-running infrastructure.”

She says many entrepreneurs start out supplying some sort of support service like graphic design or bookkeeping, but often stumble because they don’t focus on a particular market. “If you hone your services to support a certain type of customer, you’ll get known as an expert in that area,” comments Faucher. “People understand what we do and who we serve, so our focus is paying off.”

Faucher is further sharpening her company’s marketplace position by focusing on “turn-key” association support services. “Change can happen quickly within organizations, so we offer fast and responsive on-demand services so a client operation won’t miss a beat,” she says.

She believes getting the word out about your service business is best done through business networking. “I think people are more likely to do business with people they already know,” she says. “Attend select networking events and try to make meaningful connections with like-minded people.”

Building the perfect service business

They say a perfect business makes money while you sleep. Chasing new business all the time is expensive and exhausting, so try to develop a model where your customers can buy more, buy more often and buy on their own. Here’s how:

* Bring in money frequently . An ideal service company does something for customers every month (or week) so you can charge them again and again. If you can only sell once to a customer, you’ll be forever hunting down new sales.
* Offer long-term service . Build a business model to serve customers for a year or longer. It’ll give you time to develop customer relationships, deliver stellar service and achieve revenue stability.
* Think scalable. While charging out your time by the hour sounds appealing, in reality you can only bill for a fraction of your work week. Doing the books, running out for office supplies and fixing your computer aren’t billable client hours. Be sure your business can handle an increasing number of customers by planning to hire others to do the work, automating procedures or taking operations online.
* Spend a little more. The simple question, “Would you like fries with that?” has built McDonalds into a huge multinational company. Give you customers the chance to spend a little more by offering a warranty, service plan or upgrade option.


Focus pays off for service business - To learn more about this author, visit Roger Pierce's Website.

Like this article? Share it with your friends
[Get Copyright Permissions] E-Mail | Print | More  


Related Articles Related Articles
Finding the Best Internet Affiliate Program
  Finding the best Internet affiliate program is critical as it can determine the success of your affiliate business in the future.
Asking For the Money
  Until you get the money you don't have a sale. Your prospect may agree with everything you say, but until he puts up the money to confirm his agreement, you don't have a sale.
Franchise Fees Produce Income, but be Careful
  When you receive a franchise fee you take on the obligation to train the franchisee, mentor them, and do almost everything possible to help them. However, income from franchise fees can be substantial!
Internet Business Ideas: Starting An Online Affiliate Business
  Internet business ideas, tips and guidelines for selecting the right affiliate programs to earn multiple streams of residual income online.
FAST MONEY SUCCESS FOR YOU
  Take take over a going business on borrowed money

Related Forum Posts Related Forum Posts
More money More money
Negotiating Fees Negotiating Fees
Entrepreneurs to profile Entrepreneurs to profile
Re: Affiliate programs Re: Affiliate programs
Reaching Your Target Market Reaching Your Target Market
Due Diligence, Market Research.. Ahead of the curve. Due Diligence, Market Research.. Ahead of the curve.
Consider firing yourself before you fire your customer Consider firing yourself before you fire your customer
Success Strategies Success Strategies

 
About the Author
Have A Suggestion?

View Author's Blog
Become An Author

View Author's Video
Become An Author

Free Downloads


Roger Pierce's

Complete
List Of
Business-Coach
Articles

First Name
Last Name
Email
 
If you enjoyed this article, get Roger Pierce's Complete List of Business-Coach Articles For FREE!

More Roger Pierce
Use your talent to launch your biz
Give customers what they really want
Small biz can be a laughing matter
Inspiring people through your small business
Focus pays off for service business
Entrepreneurs must be selfaware
Peoples pets are big business
People love their pets and theyll spare no expense on them My dog is my child and I want the best for him agrees entrepreneur Roxanne Pettipas
Pros Cons of a Family Business
Never too young to be an entrepreneur
Become An Author