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40 - Creative Ways to Scale your Service Based Business
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Service-based businesses trade their time for money. You might think that you can’t grow your business without hiring more staff. In this episode of Be The Anchor, I am sharing some of my favorite ways to build service-based businesses without hiring more people. I guide listeners through a process you can use to assess your own small business and what trends are happening in your industry. This opens up opportunities for new ideas to consider to increase your revenue, increase the lifetime value of a client and possibly change the way you work in your small business. We talk through specific scenarios for marketing companies to mechanic shops.
Key Points:
- What is happening in your market right now? Recognize how technology such as YouTube, Canva and ChatGPT are changing the landscape for many service-based businesses and how to adapt to these shifts.
- Gather Client Feedback: When was the last time you spoke with or surveyed your best customers to ask what you could do even better?
- Consider different models in your service delivery - There are 3 options for most service-based businesses and most are only utilizing one model (which happens to also have the highest cost to you).
- Leveraging your experience and knowledge to build profits. Consider mentoring as a way to leverage experience and knowledge, turning potential competition into clients, and creating new revenue streams.
- Strategic Planning for Scaling: Reflect on how to strategically plan for growth, ensuring that your scaling efforts align with long-term business goals.
I have opened up a few spots for private business and leadership coaching for owners who would like a higher level of support. Private coaching clients work through strategic planning to identify needs and priorities in their business. Coaching is then customized to align with your plan and may include support for team development, operations, marketing and finances. Together, we design your business to integrate with the life you want.
The Anchored Leadership Academy, a 12-week group program designed for established businesses ready to scale, will be launching in September. For more information or to secure a spot, listeners can click the links in the show notes or reach out via email for an inquiry call. Don’t miss out on the chance to take your business to the next level!
Contact Kari Lotzien | Be the Anchor:
Key Links from this Episode
Private Coaching with Kari Lotzien
Anchored Leadership Academy - September enrollment is open now
Book a call to discuss the best options for your situation directly.
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