When you have a service-based business, it may seem like the only way to make more money is to lengthen your already-too-long work days by fitting in more clients. However, if you aren’t careful, this is a quick recipe for burnout, a situation that Harvard Business Review indicates can result in poorer health, stressed relationships, reduced performance, and more.
Does this mean that you’re stuck never earning more simply because you chose a service-based profession? Absolutely not. In fact, there are a few things you can do starting today to raise your annual revenues, all of which involve taking your business online.
Offer Your Services via Video
Admittedly, there are some services that may be difficult to provide online, such as plumbing, electrical, and pool cleaning services. But if you provide coaching, consulting, or some other type of one-on-one service, why not use video conferencing instead? This saves you travel time to and from the meeting, which saves you money because, when you’re in business for yourself, time is money.
Even if you have a service that generally requires you to provide assistance to clients in person, you may still be able to offer some of your services online. Make a list of all of the things you typically do and, if something can be done via video, make it happen. Some of the best video conferencing software include RingCentral Office, GoToMeeting, Zoho Meeting, and TurboMeeting.
Develop Online Courses
You may offer the best services in the world, but there will always be people who prefer to do whatever you do themselves. Whether their goal is to save money or test their skills, they don’t want to pay a professional and would rather take care of the issue on their own. While it may seem like this type of person can cost you business, the opposite is actually true if provide them the information they need to get the job done.
One way to do this is to develop online courses based on the services you offer, providing your expertise to the DIY population. If you’re not sure what types of courses you could create, just think about the “how to” questions you’re most commonly asked. This is a good place to start.
Sell Products on Your Website
Another way to grow your service-based business online is to create and sell products on your website. For instance, if the service you provide is landscaping and you’ve developed a tool that makes weed pulling easier, you could offer that tool for sale to anyone who visits your site. Or maybe you provide tax services. In this case, you could create downloadable forms clients can use to keep better track of their income and expenses.
If you don’t currently have a product you can monetize online and have no intention (or desire) to develop one, you can still make more money by selling online products created for others. This doesn’t require any money up front either if you use dropshipping, a process that involves having products shipped straight from the manufacturer or wholesaler to the consumer.
Just because you have a service-based business, this doesn’t mean that you can’t increase your revenues by taking your company online. By video conferencing versus meeting in person, developing and offering online courses, and selling products online (even if they aren’t your own), you can increase your bottom line. And you can do it without lengthening your work day, making all three of these options worth considering if your goal is to grow your business without having to sacrifice more time.