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.

(c) 2004, Dr. Rachna D. Jain. All rights in all media reserved.

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

coach@salesandmarketingcoach.com

---

Write An Effective Job Proposal

I am simply amazed at the problems some of my... Read More

Wichita KS; Anything is Possible in Wichita Business

Just when the entire state was kissing Wichita goodbye, economically... Read More

Boat Detailers; Add-on Products and Services

As a Boat Detailing Specialist, you may want to offer... Read More

How to Find Success in the Import Export Business

Take advantage of world politics today and start your own... Read More

Patient Records - Your Responsibilities

As a practise gets larger & larger the associated problems... Read More

How to Profile a Client

At first glance, this topic may seem a little repetitive,... Read More

How to Start a Pet Transportation Business

Pet Transportation Services are needed as the number of pets... Read More

The Step Zero Effect

The key to organizational focus and helping those who need... Read More

Setting Up a Pressure Washer Rig to Clean Concrete

Maximum efficiency in the cleaning industry is a key to... Read More

Survival Tips For Your Small Business

No matter type of business you operate you've got to... Read More

Increase Profits With a Small Investment of Time and No Money

The less a business pays for goods and services the... Read More

Pressure Washing Companies; Pricing Dock and Deck Cleaning

If you own a Pressure Washing Company and wish to... Read More

The 5 Traits of Baby Boomer Business Owners

As a practitioner and student of Small Business Marketing, I... Read More

Self-Employment: Do you know the Difference between Rates and Wages

The difference between rates and wages is not always clear... Read More

Why Small Business Must Turn to PR

If small business had no important outside audiences, it wouldn't... Read More

Why Do Most Online Small Businesses Fail?

Search Engines account for almost 90% of all web traffic!In... Read More

Keeping a Partnership ALIVE and THRIVING

What are the best methods for keeping a good business... Read More

The Types of Skip Trace Accounts

First, we need to define the different kinds of skip... Read More

Why You Need A Virtual Assistant

How much is your time really worth? Is it worth... Read More

What To Consider Before Buying A Franchise

Here are some useful tips on what to consider before... Read More

Virtual Assistance for Healthcare Professionals

Administrative and clerical tasks are the bane of every industry.... Read More

Racing the Competition

What is the Big Race all about when it comes... Read More

Home Based Franchise; What About Future Expansion?

As a franchisor I am always asked by new and... Read More

Does Your Small Business Marketing Suffer From The Bulldog Effect?

If you're an entrepreneur responsible for your own small business... Read More

Grab Your Consumers Attention in a Cluttered World of Marketing Communications

A cluttered world of marketing communications diminishes the ordinary. The... Read More

Small Business Ideas - Your Image Can Lose You Business

What image do you and your people portray to your... Read More

Multiple Clients Create Your Independent Business

Would you rather have one good client paying you five... Read More

Home Based Franchise Case Study

Here is an interesting case study of a company, which... Read More

Starting Your Small Business

Where do you find more customers?How do you compete with... Read More

20 Great Ways to Market Your Business Locally

Whether your target audience is in your neighborhood or across... Read More

Franchisee; Vacation Managing

Do you own a franchised business? Over 400,000 franchised businesses... Read More

There Is Security in Change... But Use Caution

It has been said that the only constant is change.... Read More

Overcoming Your Biggest Competitor

Before you read any further in this article, I'd like... Read More