5 tips to help starting a lean service business!

We've touched on it a little before now but what if it comes down to it and you really have no money to start your business? Here are five tips for starting a professional services business with little or no money.

You could start a professional services business if you have in-demand expertise of any sort. While marketable professional services such as accounting, legal, financial advisory, or business management services are the basis for many startups, in fact, the possibilities are much broader than that. Are you a master gardener, painter, cleaner, builder, a human resources professional, a talented business writer, a technology services pro, or a marketing and public relations whiz? All these skills ,including many more, can be the basis for a successful small business if you combine them with an entrepreneurial spirit.

One of the appeals of starting a professional services business is that it generally requires little capital; its product is your expertise. There will be some startup expenses and you may need business insurance and possibly an accountant, but the up-front investment in total probably will be relatively modest.

Here are five tips for starting a professional service business.

Start With a Strong CV
Since a professional services business must be built on your knowledge and skills, a strong knowledge in the area of your expertise will go a long way when it comes to bringing in customers. CV-boosters include a degree from a prestigious institution, professional credentials that indicate a high level of accomplishment and knowledge, and work experience with a firm or firms well respected in your profession. The stronger your credentials, the more doors that will be open to you as you begin to market your business.

Leave Your Employer on Good Terms
Often a firm where you worked can be a good source of business for your startup, so be sure to leave on good terms with colleagues and management. Your relationship with your ex-employer can be especially powerful if your new firm offers differentiated but related services or targets different customers. For example, often as companies grow, so does the size of their customers; as a result, they have to turn away some potential clients who are too small for them to serve profitably. Customers who are too small for your ex-employer could be just the right size for your startup, and your old firm may be happy to refer them to you.

Get Comfortable Networking
Networking is one of the best ways for a professional services business to attract customers, so make meeting and greeting a top priority. Join your local small business association and become active in groups in your community and on social media. When you make promising contacts, be prepared to concisely and clearly describe your services, your expertise, and what sets your business apart, and have a list of references available so potential customers can easily check your background and credentials.

Establish Relationships With Businesses That Can Refer Business to You
Look for opportunities to develop mutually beneficial relationships with other businesses. For example, if you are an accountant, you could seek out a law firm that specializes in business law. Offer to refer your clients to them when they need legal services if they will return the favor and refer small businesses needing accounting services to you.

Ask Satisfied Customers for Their Help
There is no better way to grow your business than through positive word of mouth, so be proactive in trying to generate it for your business. For example, make a habit of asking satisfied customers for referrals and for approval to use them as references.



This is a sure-fire way to get some work through the door! hope you've enjoyed reading, until next time.

The Unlikely Businessman

How to motivate yourself to work from home!

Working from home is great. There is no two ways about it, getting up late having a nice breakfast, sitting in a comfy chair in your pants and cracking on with the days graft.

The problem lies when it comes to doing the work, a lot of people struggle to stay motivated at home because of constant distractions that simple don't occur in an office environment.

There is, fortunately, a few things you can do to help you stay on top of things when working from home:

1. Get dressed

Getting dressed will make you feel like your going to work, rather than getting ready to sit in bed and watch box sets all day. It will give you purpose and motivation to get some work done. 

2. Have a workspace 

If you've got a spareroom you can transform into an office, great, if not just a desk will do, as long as it is solely for work. Having this space purely for working will cut out some of the distractions that occur when you're just sitting in the kitchen or on the sofa. 

3. Switch your personal mobile off

Smart phones are awesome, they have revolutionised the way we do business. They are however, a massive distraction, you cannot get work done if every two minutes you are getting notifications from Twitter, Facebook, Candy Smash or whatever else! Switch them off to save the distraction or if you need it for business, switch the notifications for these apps off!

So that should help you out a bit when you're working from home. I hope you've enjoyed this post take a flick through the other posts and share them with your friends! you can get to me on Twitter @fancyservices

Thanks!

-M

Top Ten Tips For Running A Service Business!

Welcome to another post from the Unlikely Businessman, today I was thinking up some tips I can give the readers on running a service business and kept toying with many different thoughts, here are my best, hope you enjoy reading and that they give you some food for thought.

1. Know your customer.

The key to good client relationship is leveling-off of expectations. Before taking on a client’s business, ask them what they expect to get out of your service. Then explain how you may be able to respond to their need. It is good policy to investigate your client’s needs by asking simple questions such as “How do you want this done?” If you are a hairstylist, for example, ask the client how she wants her new hairstyle to look. Unless you are the “best hairstylist” in the country with a reputation for doing-what-you-want-to-do-with-no-questions-asked, your customers will appreciate you more if you ask them first if they want a radically short haircut before proceeding to cut their long tresses.

If it will be helpful to you, keep a record of your client’s needs and wants, as well as their little idiosyncrasies. If they have previously used a service similar to yours, probe their experiences and learn from what they have to say in terms of what they want and don’t want. As you work with a client, express an interest in your client’s work. Listen to what your customer does, take a moment to learn something personal about them, and listen to what they need and expect from you.

2. Follow the Golden Rule.

Treat your customers well. The work you are doing is extremely important to your customers so you have to assure them that it will be done professionally and on time. Terri Seymour, founder of Web Success Central, says, “The customer is the reason for your business success. Treating people with respect and building those personal relationships are one of the most effective ways of providing your business with a solid foundation.” Janice Byer, Docu-Type Administrative Services, further agrees. “I believe in this statement completely! Your clients are your means of income and the best people to spread the word about you and your work. Keep them happy!”

Making your customers feel important is one of the best ways to ensure continued business. You want to remember how each client likes to have his or her work done.

3. Dependability is key.

If you agree to complete a project by a certain date, you must be prepared to meet that deadline even if it means sacrificing personal activities or money. Offer to go the extra mile at no additional charge. Thoroughness is part of being dependable; your clients will soon realize that they can count on you to catch their mistakes. If you build a reputation for dependability, you can rely on repeat, as well as referral, business.

4. Keep the business between you and the client. 

It is best to consider all work confidential. This means that you do not discuss your client’s business with anyone – even your mother. Make a habit of clearing papers from your desk before you go away. If ever you decide to use your work for them, maybe as part of your client list or testimonials, be sure to seek their permission first. If they refuse, honor their decision.

5. Let your customers know you.

There’s the maxim that the customer is always right. But the customer must learn to play by your rules. Right at the very beginning, set your guidelines and parameters as to what you can and cannot do. Deborah Brown, a noted Personal Coach and founder of SurpassYourDreams.com, stresses, ”Being straightforward with customers is critical. Why should they buy from you if they know you are not telling them the truth?”

Discuss your rules, and set the groundwork for working with you. Talk to them about your rules when the project deviates from the original agreement, its costs implications and procedures in dealing with new tasks. Don’t be shy to discuss your fees and payment schedules. It is best to clarify these things at the onset; after all, nobody likes surprises.

6. Protect yourself and your customers.

As a business owner, you must make sure that your business is protected from losses resulting from fire, liabilities and other hazards such as a client slipping and falling in your office. Call your insurance agent to ask for the right kind of insurance that will protect your business. If you have equipment like computers, fax and printers, don’t assume that all your expensive equipment is covered by your home insurance policy. It may not be unless you buy an add-on policy or rider.

You must also safeguard your business against professional liability. While no one wants to think of lawsuits when starting a business, you may be liable if your business causes harm to individuals and businesses. You could be sued for their losses, and as a result, your entire business and even personal assets could be at risk.

If you are operating in the United States, an insurance premium is deductible as a business expense, whether you work at home or in rented office space, so you do not lose by having it.

7. Accept only what you can do.

During the start-up phase, chances are you will try to accept as many jobs as you can. When you say yes to a client, be sure that you can deliver the service requested by the time the customer needs it and within the cost budgeted for it. Only accept accounts that you think you could do a solid job. Never accept assignments that are way beyond your head in your eagerness to prove yourself. If you feel it might not be possible, say so and request more time or suggest another alternative. It is worse to be late with a project than to ask for more time. If your clients are willing to take a gamble on you, make sure that you are on the same wavelength in terms of expectations as so what can be accomplished. As Deborah suggests, “Under promise and over deliver. This is the fastest way to grow your business.”

8. You can say “No.”

Like most entrepreneurs, I am sure that you never want to refuse a particular kind of work if you can help it. However, if there is a job you absolutely do not want to do for some reason, it is better to say that your schedule does not permit it rather than saying that you don’t like that kind of work. Or you can also be honest with a client and say that their project is beyond the scope of your expertise and they may be better off with someone who has the skills they require. You may want to suggest another service provider that you think will match their requirements. They will value you more for your candor, rather than take on the job and deliver a sub-standard service. If you really have to say “no,” say it politely and never, ever criticize a client.

9. When you are late in delivering the service.

Despite your very best intentions, you sometimes slip up and fall behind a project’s deadline. If you find yourself in that situation, don’t act as if everything is ok and hope that the client will not notice your delay. Talk with your client and offer your apologies, with the promise that you will complete the project as soon as possible.

Janice Byer, gives this advice. “By showing initiative and ensuring you have the right information for the project, your clients will see that you are professional and, even if you are late with a project, they will understand that you trying to make the end result the best you possibly can thus keeping them happy.”

As Terri Seymour has learned in her Internet marketing business, “Telling lame excuses or blaming this or that is not the way to deal with this situation. Simply apologize and assure the customer it will be done ASAP and maybe throw in a little discount or something for free. Let the customer know that you care about getting the job done and doing it correctly.”

Schedule a meeting with your client to discuss any stumbling block that are hindering the completion of the project. Maybe you have an unresolved question to one of the client’s demands, or some factors beyond your control are making your assignment difficult to complete. Keep the client abreast of what is happening with their projects or accounts. One cardinal rule you shouldn’t forget: don’t tell them that your reason for being late was because of your work for another client. No client would want to hear that his or her business is of less importance to you. You don’t want to be put on a spot where you have to explain why the business of client B is more important than that of client A!

10. The longer picture.

At the end of the day, you must ask yourself the important question: “Does this client’s business contribute to the growth of my business? Do I want to continue working with this client?” You accept an account for various reasons, maybe for profitability, exposure, or the learning opportunity that it provides. During the start-up phase, you may think that you have no choice; after all, beggars can’t be choosers. But as you go along, you will have a better sense about the true value of a client’s account. While an account may generate a sizeable cash flow for you, but if your client wreaks havoc on your mental state with her demands and attitude, you may have to rethink the long-range potential of the account. There are some accounts that are simply not worth it.

Thanks for reading be sure to check out the other blog posts!

You can visit my website here too.

The Advantages Of A Service Business.

Editor's note: This article was excerpted from 202 Services You Can Sell for Big Profits .

Who can sell a service? The answer is simple--anyone and everyone. Everyone is qualified because each of us has skills, knowledge or experience that other people are willing to pay for in the form of a service; or they're willing to pay you to teach them your specific skill or knowledge. Selling services knows no boundaries--anyone with a need or desire to earn extra money, work from home, or start and operate a full-time business can sell a service, regardless of age, business experience, education or current financial resources.

What Are the Advantages of Selling Services?
There are many advantages associated with starting your own business selling services. Perhaps the biggest advantage is you become your own boss, take control of your future, and in effect become the master of your destiny. I've been self-employed for a number of years, and for me the lure of self-employment is the freedom and independence that calling the shots affords, which can be difficult to achieve when you work for others.

Operating your own business also gives you the potential to earn more money, in some instances two, five or even ten times more than you're currently earning. Why? Simple duplication. When you work for someone else, there is only you and only so many hours in the day to work for an hourly wage or a salary. When you operate a business, you can duplicate yourself by hiring employees and salespeople to increase revenues; you can duplicate your customers and find more just like them to purchase your services; and you can duplicate your business model and open in new geographical areas to service more customers and earn more profit. These are all things you can't do when you work for others, and if you do, chances are it will financially benefit the boss a lot more than you.

Capitalize on Your Skills
Don' t worry if you lack business skills and experience in areas such as time management, personal-contact selling, negotiating, bookkeeping and the ability to create effective advertisements. There's no question these are all important skills to have, but at the same time they're also skills that with practice can be learned and mastered. More important is the question, "What skill(s) do you have that can be sold as a service?" Any skill(s) you possess can be your best, and by far your most marketable, asset. If you know how to safely walk a dog, that's a skill people are willing to pay you for. If you know how to plan and throw one heck of a party, that's also a skill people are willing to pay you for as their event and party planner. If you know how to play the piano, this is a skill other people will pay you to teach them. If you know how to sell products and services online, once again that's a skill that people are willing to pay you for as an online marketing consultant. All are examples of skills that people pay other people to perform, or teach them how to learn.

Every person has one or more skills other people are prepared to pay for in the form of a service provided to them, or to learn. However, with that said, most people have a tendency to underestimate the true value of their skill sets and experiences. You have to remember, what may come naturally to you may not come so naturally to others. Likewise, you might think your particular knowledge or expertise may be of little value, but if someone else needs or wants to learn about that knowledge, it's very valuable to them.

Selling Services Part Time
The first option is to start off selling your services on a part-time basis, which is a good idea because it enables you to eliminate risk by limiting your financial investment. It allows you to test the waters to make sure that being self-employed is something you enjoy and want to pursue. If all goes well, you may decide to transition from your current job, devoting more time to your new enterprise each week, all the while decreasing the time at your current job until you're working at your new business on a full-time basis. There are many advantages to starting off part-time, including keeping income rolling in, taking advantage of any current health and employee benefits, and building your business over a longer period of time, which generally gives it a more stable foundation. If it turns out you're not the type of person who's comfortable being the boss, you've risked little and still have the security of your job.

Of course, if your ambitions are only to generate extra money to pay down the mortgage, save for retirement, put yourself through school, or pay off credit cards, selling services part-time is the perfect choice. It's important to do what you want to do and what best suits your individual needs. If selling services part-time works for you, then go for it.

Selling Services Full Time
You can also jump in with both feet and start your new business selling services full-time. This option would appeal to people without a current job or people who are confident about being the boss and operating a business. There's nothing wrong with starting off full-time, especially if you take the time required to research the business, industry and marketplace. You must also develop a business and marketing plan, and have the necessary financial resources to start the business and pay yourself until it becomes profitable.

The main downside to starting full time is risk. If you jump ship and leave your job, you risk loss of current employee benefits and have no guarantee of steady income, contributing spouses or partners excluded. The upside to starting off full-time is potential rewards, including the opportunity to make more money than you can at your current job, and to gain control of your future. Your decision to operate your new business on a full-time basis will largely be determined by your current financial situation, your own risk-reward assessment, and your goals and objectives for the future. Jumping in full-time will appeal to the true entrepreneurial mindset--people who prefer to blaze the trail rather than follow behind in the wagon train.

Selling Services Seasonally
Another option is to start a seasonal business selling services, which can be operated with a full- or part-time effort. But most are run full time to maximize revenues and profits over a normally short time span. Examples of seasonal businesses selling services would include snow removal in winter, yard maintenance in summer in northern climates, income tax preparation service in spring, and serving as a vacation property rental agent. Just about any business can be run seasonally or occasionally, but some are obviously better suited than others.

A seasonal venture will appeal to people who want the ability to earn enough money during part of the year in order to do as they please with the remainder of the year--travel, pursue education, or work a job in another season. The potential to earn a very good living operating a business only part of the year is a genuine opportunity, as proven by the thousands of people who are currently doing it. The main downside to a seasonal business, especially one that can be operated year-round, is that you don't want to spend thousands of dollars and hundreds of hours promoting your business only to shut it down for half the year, sending current and potential customers running to your competitors while your business is closed. It may prove very difficult to lure them back when you reopen for business.

Selling Services to Supplement Your Retirement
The fourth option is to sell services to supplement your retirement income or just to have fun and stay active in your golden years. Retirement businesses have become extremely popular in the past decade, mainly because the cost of living has dramatically increased, often outpacing wages and retirement savings. The result is that many people head into retirement needing a little extra income to cover expenses and provide an adequate lifestyle or to maintain their pre-retirement lifestyle.

People are living longer and much healthier now than in decades past, and because of this many are seeking new challenges; starting and operating a business is a way to stay active physically and mentally. Older people also have a proverbial ace up their sleeves when it comes to starting a business and selling services: a lifetime of knowledge and experience that can only be acquired by spending lots of time on this planet. Because of the value of these skills, many people are willing to pay big bucks for them. This is why many people who are reaching or have reached retirement age have chosen to start a consulting business selling their experiences, knowledge and skills for the benefit of their clients.

Financial Compatibility

Before you decide to get into business for yourself selling services, there are two issues to consider regarding financial compatibility--income and investment money. First, when deciding what type of service to sell, you have to consider how much money you want to earn and how much money you need to earn. If you need to earn $75,000 per year to pay your personal expenses, there is little sense in starting a dog-walking service. Perhaps there are a few dog walkers earning this much, but it's not a realistic expectation. How much money do you want to earn--that is, how ambitious are you? Again, you must be realistic and relatively sure the service you choose to sell has the potential to generate enough income to live on in the short-term, and the potential to match your income goals in the longer term. Income doesn't have to factor into the business startup equation for everyone. If you want and need to earn only a little money from a part-time or retirement business, the income equation will not factor as heavily as other issues.

The second big financial compatibility issue affecting your decision about which business to start or purchase is the amount of money needed to start or purchase the business. Not only will you need to have or have access to the investment needed to get rolling, but you'll also need extra money for working capital to cover day-to-day operating expenses until the business achieves positive cash flow. This can take a week, a month or even a year.

Ultimately, financial compatibility is important when starting a business and deciding what services to sell. If you cannot afford to start the business and don't have the financial resources to pay operating expenses and your wages until the business can break even, you'll probably have to look at alternative options, such as starting part time, choosing a different business to start, or waiting until you have acquired the money needed to get started.

Finding a Good Match
You also must be well suited to start and operate the business and services you're considering providing. You and your business must be a good match. You may have an interest and even experience in a specific business or in providing a specific service, but that doesn't necessarily make it a good match. Here are a few points to consider when determining a good business match.

• Do you have the financial resources to start or purchase the business, and enough money to pay the day-to-day operating expenses until the business breaks even and is profitable? If not, it's probably not a good match, and you should consider alternatives.
• Does the business have the potential to generate the income you need to pay your personal expenses, and does it also have the potential to generate the income you want to earn? This is very important because if you can't pay your own personal bills, you'll soon be in trouble. And if, over time, you can't earn the income you want to earn, you'll lose interest in the business--a recipe for disaster.
• Are you physically healthy enough to handle the physical strains of starting and running the business? If not, you may end up having to hire people for the job, which can be problematic if the business revenues aren't there to support both management and employee wages.
• Do you have experience in this type of business or service, and do you have any special skills that can be utilized in the business? You can gain experience and knowledge on the job but skills that can be utilized and capitalized upon right away are extremely valuable.
• Are there any special certificates or educational requirements to start and operate the business, and are these readily available? Find out the upfront costs associated with these, how they can be obtained, and the time frame needed to obtain specific certificates. Training and certification shouldn't be viewed negatively because often the return on time and investment is substantially rewarded financially. Anything worth doing is worth doing well.
• Will you enjoy operating the business, and does it match your personality type and level of maturity? This is very important. If you don't think that you would enjoy it, then don't start. Again, the loss of interest in a business is almost certainly the kiss of death. You can't stay motivated and rise to new challenges if you don't like what you're doing.

To start looking for service business ideas, read the book 202 Services You Can Sell for Big Profits