Do this Before Launching Your Service-Based Business
Photo by Brooke Cagle on Unsplash
Answer these 5 Essential Questions
Service-based businesses —a.k.a. side hustles, freelancing or consulting—can make for creative, rewarding and flexible careers. They don’t typically require a huge startup investment, and can be ramped up or down if you have other obligations like a full-time job or kids at home.
If you’re thinking of starting a service-based business, here are five essential questions to ask yourself before launching:
What do I really want to do? Don’t fall into the common trap of providing a service that you are good at, but that you don’t actually like doing. (I’ve been there!) Entrepreneurship can be challenging, so choose a service that you enjoy providing and hone your craft.
Who do I want to serve? The beauty of a service-based business is that it’s yours. You can decide who you want to serve—never in a discriminatory way, but in a way that helps you target your outreach and helps your ideal client find you.
I can’t overstate how important it is to articulate who the audience for your services is and what they need. It is the foundation for all of your marketing and outreach.Who do I want to be? As a service provider, you are your brand and your business. People are paying for a service but they’re ultimately paying for your energy and how you make them feel. This becomes more important the more competitive your industry is.
Think about who you want to be as a service provider. How do you want to make people feel? How do you want to impact your client’s lives? Keep their experience in mind in everything that you do.What am I really selling? Once you figure out your service, think deeper about what you’re actually selling. For example, a photographer sells photos but is actually helping a family capture once-in-a-lifetime moments. Think about the outcomes your services create. This will help you shape your sales and marketing in a more meaningful way, and position your service to command a higher value in the marketplace.
Who do I know? The good news is, you probably already know your first clients. They just don’t know it yet.
I’ve learned from my own experience, as well as from interviewing successful entrepreneurs, how important it is to launch first to your friends and family. Tell people what you’re up to, and trust that people will step up to help you. Create a free offer and share it with your network. They can give you feedback, help you hone your craft, and refer others to you so that your business builds momentum from the start.
As with any big transition, it’s worth taking some time to reflect on what you want to create. By answering these five key questions in the early stages of your business, you’ll be ready to launch with more clarity and confidence. Good luck and have fun with it!
If you’d like more personalized support as you launch, I can help you stop spinning your wheels and take action. Book a free 30-minute consult to see if private coaching is for you.