How to Make Money with a Service Business

In that time, I’ve handed it from a thought over my head into a productive and rapidly developing business. Beneath I’ve assembled what I’ve realized –  hints in light of my most exceedingly awful errors and greatest triumphs. You can figure out how to maintain an effective administration business significantly more rapidly than I did by perusing on.

  1. Network
    People like to do business with someone they know.
    My company’s first client was someone who I had met a few times through our shared publishing company. Since he knew me, he was willing to take a chance with us even though we had never made a commercial video. Fast forward a year and our most recent client is someone I met through a small business development group.
  2. Recurring Work is the Best Kind of Work
    If you keep landing one-time jobs, you’re always going to be looking for new clients. That’s fine when you’re just starting out, but it makes growth very difficult. Recurring business is a foundation that allows you to hire full-time employees and spend less time pursuing new accounts. So start thinking of ways that your clients could benefit from receiving your service month in and month out.
  3. Under Promise, Over Deliver
    Good companies meet their clients’ expectations. Companies destined for greatness so exceed those expectations that their clients jaws hit the floor. That means pulling all-nighters to put on that last coat of polish and add features that your client never paid for. That’s the type of service that earns you repeat business and word of mouth referrals.

    Read More : HOW TO EVALUATE A BUSINESS IDEA

  4. Get a Contract
    A company contacted me last fall through the contact form on my website. Over the course of a few emails, we discussed a video for their home page and agreed to terms. But I didn’t get a contract from then. Long story short, this was a big mistake. Trust me when I say that if you can’t get somebody to agree to a contract, then you don’t want to work with them.
  5. Don’t Overpay Yourself
    You start a business to make money, but if you’re personally taking every penny of profit then you’ll have nothing left over to invest in your business. Think of your business as a hard-working member of your team who needs to get paid just like everyone else. My partner and I divvy up our earnings 1/3 for him, 1/3 for me, and 1/3 for the company. This policy has allowed us to invest in better equipment and pay contractors for projects up front.

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