Home
>
Small Business
>
Successfully Adding a Service To Your Business

Successfully Adding a Service To Your Business

There will come a time in your business where you feel ready to add another service offering. To make this successful, there are ten tips to consider before moving ahead.

1) Revisit your business plan. If you don't have one, write one for your business as it currently exists (even a one-page, brief summary will work fine). Compare how your business plan will be the same or different with the addition of this new service.

2) Will this new offering build adequately on what you already have in place? This refers not only to your resources, but also to your own skills and those of your staff. Does this new offering extend further what you've already been doing? Or is it a detour into a new area?

3) Is the addition going to be cost effective? For example, if you're building on what you already have in place, you're probably going deeper into your current market rather than trying to start a whole new business from scratch. Generally speaking, it's almost always going to be more cost effective to add a related service line than it is to start a new one.

4) Have your customers asked you about this or expressed a need for something new? If you regularly consult with your customers you will know what they need and want. If they continually ask you whether you provide a particular service, use this information to guide what you next add to your business. Your bottom line will thank you.

5) If you are a solo professional, how will the new service improve what you're doing now? Will it provide you additional income or additional freedom? Is it an area that is more interesting to you? Just be sure that adding the service is likely to provide you with definable personal benefits otherwise, you might stretch yourself too thin.

6) How will your customers benefit from this new service? If you don't have a built in market for what you're offering be sure to think about what this new service will do for your existing customers. Will it allow you to serve more people? Fewer people? Will it cost less? Are the results going to be better?

7) Ask yourself: Why this and why now? What is driving your decision? Is this the right time to implement this new plan? Timing, sometimes, is the main difference between success and failure.

8) Give adequate notice. Be sure to give your customers adequate notice of these changes if this addition is going to impact your existing customers (as in you might be less available for a while or your prices might increase). Customers are very resilient when they know what's going on and why.

9) Communicate your enthusiasm. If you are excited about a new offering be sure to share this with everyone you know. Once you've decided to go ahead get as much help and support as you can. As the business owner, you have a lot of influence on your customer's view and response to this change.

10) Set some goals and revenue projections for the new offering. Create a marketing plan and decide how you will reach your targets. Measure your results. This will assist you in gauging if you're on the right track.

Most of all, have fun with this process. One of the best parts of owning your own business is that you can make adjustments which make your business better for your customers and yourself.

About The Author

Dr. Rachna D. Jain is a sales and marketing consultant to small business owners/solo entrepreneurs who want to make more money and have more fun in their businesses. Check out her daily insights at http://www.salesandmarketingcoach.com/blog

http://www.salesandmarketingcoach.com/blog

scheduled cleaning services Winnetka ..

In The News:

New iPhone replacement scam uses pressure tactics and fake carrier calls to steal devices from buyers. Criminals claim shipping errors and demand urgent returns.

Amazon Ring's new facial recognition feature sparks privacy controversy as Electronic Frontier Foundation critics argue the AI upgrade expands surveillance risks.

New Android banking trojan Sturnus steals credentials, reads encrypted messages and controls devices.

Denmark's 3D-printed student village proves automation builds 36 apartments faster than traditional methods. Skovsporet project shows housing future.

Discover Android's new Sound Notifications feature that alerts you to smoke alarms, doorbells, and baby cries even when wearing headphones.

New SantaStealer malware reportedly threatens holiday shoppers with password theft. This Christmas-themed info-stealer targets browsers and crypto wallets.

The Christmas season brings a surge in Netflix phishing scams targeting shoppers with fake emails. Stacey P received convincing scam but verified account first.

San Francisco Giants invite Jamie Grohsong to throw ceremonial first pitch at Oracle Park after he learned to play baseball with a bionic hand following an injury.

FBI warns cybercriminals are stealing family photos from social media to create fake proof of life images in virtual kidnapping scams targeting victims.

Instagram's new 'Your Algorithm' tool lets you control your Reels feed in real time. The app now gives you power to customize what videos you see.

Major Marquis fintech breach exposes 400,000-plus Americans' data through unpatched SonicWall vulnerability, with Texas hardest hit at 354,000 affected.

Free up iPhone storage fast by clearing large photos and videos from Messages app. Simple steps for iOS users to delete attachments without losing chats.

Scammers are flooding inboxes with fake tracking alerts that mimic real carriers, exploiting the holiday rush to steal logins and personal data.

The Fox News AI Newsletter brings you the latest news on AI technology advancements and the challenges and opportunities AI presents now and for the future.

Texas family reunites with missing 11-year-old cat Grayson after 103 days using Petco Love Lost's AI photo matching technology and community help.

Tired of AI customer service loops? These insider tricks help you escape "frustration AI" and get real human help when you need it most for urgent issues.

Unlock richer audio from your streaming apps with simple tweaks to volume normalization, equalizer settings, and quality preferences for cleaner sound.

Scammers are sending fake Facebook settlement payout emails that mimic legitimate notices from the privacy settlement administrator to deceive users.

Holiday shopping scams surge as fake refund emails target distracted consumers during Black Friday and holiday seasons, costing Americans billions annually.

The AI-powered IRMO M1 exoskeleton features four modes, including turbo, eco, training and rest for hiking, running, cycling and sports with eight-hour battery life.

OpenAI announced upgrades for its ChatGPT Images platform on Tuesday, saying the program can now make more precise edits and produce images more quickly.

Chrome for Android now turns web articles into AI-powered podcast conversations. Get hands-free browsing with Google Gemini's natural audio summaries.

LastPass faces $1.6 million fine from U.K. regulators after 2022 data breach exposed 1.6 million users. Password manager failed proper security controls.

Petco disclosed a data breach exposing customer Social Security numbers, financial account details, and driver's license information due to a software error.

Baseball teams can now analyze complete swing mechanics in normal training environments using Theia's markerless AI system that processes standard high-speed footage.

Successfully Adding a Service To Your Business

Small Business