How to rearrange a business

[AlexanderCM]

This is related to the other thread I posted, so go ahead and refer to my other thread if you want a bit of context.

I'm seeking some advice for how to rearrange a business so that it is product based instead of being service based. How can I smooth the process? How do I adapt the website to allow businesses to buy our products?

I look forward to what you guys think!

 

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[Sean DeSilva]

I was talking to successful info marketer couple months ago about this topic. The basic answer to your question is to use your current service offerings to build a product. I don't know what you do, but let's say you offered consulting services--you may offer a 10 or 20% discount in exchange for the client to allow you to record the service you provide him, and use it as part of the case study in your program.

That covers product development; from there your repositioning strategy for your company will dictate how you start offloading time from services onto products. I'm guessing the price hike on the service side is in order at the very least in order to set up for your product offerings as the cheaper alternative.

 

[AlexanderCM]

Thanks for the reply!

The products that I would be selling are separate from the service that is being provided now. All I need is to pretty much make the company into a brand name that can be used to sell the products to other businesses. My main market would be businesses within the industry.

 

[McCoyH]

Hard to tell without being a little more specific. if your service is shoveling snow for old ladies, you can sell the old ladies a plow for their electric scooters (sorry if thats offensive, its late! lol)

 

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[McCoyH]

Sean has the right idea, but how much more specific can you get?

 

[AlexanderCM]

Sean has the right idea, but how much more specific can you get?

Think medical profession. We currently sell service, but we are going to rearrange it so that we only sell supplements, books, and possibly a seminar every once in a while.
Sorry I was a little vague before. Hope that helps, I really appreciate any advice you can give!

 

[WaystarRoyco]

If you can, check out Built to Sell by John Warrillow. This is precisely what he discusses. A far too brief synopsis:

• Discover what your business does best
• Focus on specifically that and rid yourself of anything else that does not relate (even if it makes you $$$ right now)
• Create a process around the start to finish sale of what you do best
• Implement the process, and repeat.

His premise was built around a service business that an owner was fully involved in at the beginning of the story. Instead of trying to please everyone, built a repeatable offering that will allow for growth and eventually removal of yourself from the process. That also will create a more appealing purchase for someone buying your business, if you choose to sell.

Hope this helps.

 

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