Starting a Service-based Business? Read These 4 Keys to Success

A service-based business offers services to people without selling tangible products. Think about salons, laundry services, wedding photographers, house cleaners, car repair companies and coaching service providers – they all are service-based businesses that help people get their stuff done. Starting these types of businesses usually costs less but there are a few challenges unique to this type of venture. If you’re reading this article, we can assume you are either planning to sell a unique service to people or you have already started your small business. So, whatever your idea is or business is about, here are the four keys to become a successful service provider in your industry.

Find Your Niche: Enter an industry that you’re familiar with and offer services that you would use yourself. You must be an expert of that field. If you’re passionate about something, selling might be easier for you. Are you offering what people want? What aspect of your business will make it appealing to customers? To get the answers to these questions, you need to focus on buyer person as, how you’re going to solve their problems, research your competitors in the market and identify interesting ways to attract customers.

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Set The Pricing Right: You are here to sell your time and expertise, so you need to choose the right pricing strategy. Price your services too high, and you can never win over your competitors. Price them too low, and you will never be able to turn your business into a successful company. Choose a striking balance between competitive rates and charging your customers for your time and service. The simplest way businesses can charge is by the hour. Your second option is to offer package services and charge a flat fee for a combination of services. You can also go with the combination pricing option and offer your services at an hourly rate and as part of a package.

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Learn to Manage Your Finances: A service business has lower overhead costs but that doesn’t mean you won’t have to have to take care of your finances. Keep track of all of your small business expenses, such as costs of buying new equipment or tools, payment to your vendors and employees and monthly rent if you are running your business from a shop. Create a cash flow budget, make financial projections, keep your payables up-to-date and track the credit you are extending to your customers.

Get Professional Help: Everyone needs help, especially small business owners and aspiring entrepreneurs. Sometimes, it pays off to consult a small business mentor. Getting the right advice can be the difference between your success and failure. Seek professional advice from a business mentor to determine how to manage your business, know where it is heading and create an action plan for growth. Arrange one to one session with a professional small business mentoring service provider so as to get clarity about your business and create a strategic plan to take it to the next level.

Starting a service-based small business is cheap but it needs right skills, knowledge and professional guidance. When you find your niche, choose the right pricing, track your finances and get advice from a small business mentor, then you’ll be able to focus on the most important thing about your business: selling your service and making happy clients. So don’t wait, contact a small business mentoring service provider today to find new ways of selling your services and make your dream a profitable project.

Narrative essay

Whenever I think of the incident that transpired on that particular Thursday afternoon, I get a nasty feeling about the challenges of working as a respiratory therapist. Is it that all the health care practitioners should have a calling to their work or should work as a profession? As a respiratory therapist, I usually work in the intensive care and the operating rooms, but I also engage in the outpatient activities. I am a specialist and an educator in the fields of cardiology and pulmonology. Most of the patients I attend to are in the ICU and the emergency departments struggling for their lives. At times, I manage the pre-hospital and the hospital to hospital patient transport by air or by mobile road ambulance. Most of the patients have illnesses ranging from asthma, bronchitis, and emphysema. Other have a heart attack and sleep disorders. On a certain Thursday afternoon late last year, I had one of the many challenges in my line of service.

I reported to work as usual and said a prayer before the start of my daily chores. I attended to several patients having varying illnesses, and most of them had a hope of getting well in due time. I decided to take a short rest during lunch hour after realizing that there were no more patients to attend. However, after few minutes, I received a call from the hospital superintendent that there was an emergency case I required to attend. The details clarified that I had to travel with several nurses to a nearby village to seek what we could do to save the situation. There was a man in his later forties who lived with asthma for a long time. I looked at him in desperation knowing that I could do my best to save the situation though he was in a life-threatening stage. He could not talk, had flared nostrils, his skin was bluish tint from the mouth region and under the fingernails. The man lacked adequate oxygen circulation in the blood stream.

My professional’s values require that I serve to the best of my ability to save lives and restore health. We teamed up with the nurses to address the condition, but our attempts seemed futile. All our first aid attempts failed to change the situation. I instructed the nurses to lay him in the ambulance and rush to the hospital for further treatment. I think that it was a rough day for me since every other attempt to save the man failed. He lost his life as we worked tirelessly to save it. I felt discouraged, guilty, and emotionally disturbed and could not attend to other patients that day. I questioned my work as a respiratory therapist and whether it was a calling or out of influence to study the particular discipline. According to my understanding, such occurrences were inevitable, but some could be saved regardless of their severity. I did not understand why the man could lose his life in the hands of professionals and experts in the field.

It was sad news to the close family members and very challenging to break the same news to the wife who was also ill of another health condition. In some instances, the experiences of healthcare practitioners are hard to relate with though they form part of the daily life. The work of a respiratory therapist is challenging, but the desire to continue improving the quality of life compels me to serve wholeheartedly.

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