Define Your Service As a Product

By Christina Suter on Oct 21, 2017 at 09:33 AM in Business Issues
Define Your Service As a Product

If you're like me, which you probably are if you're reading this blog, you love the everyday engagement and creation of something new and purposeful on the face of this planet. The heart of an entrepreneur, especially a conscious-minded business owner, is one that wants to make things better out there. I'm a small business owner like you and I'm also a mom and investor and it is of grave importance for me to make the lives of others, better. It is important, as a business owner, that you understand your service as a product.

It was hard for me to understand my service as a product. Do you understand that your service is your product? Do you understand how to explain to others that your service is just as clear and concrete as say a bottle of Coca-Cola? Many years ago I was at a Rotary club meeting and someone asked me what my business was and in response, I told them I met with people once a week and discuss their small business. My answer led to moments of awkward silence and the person finally said, "That's interesting." I didn't understand my service well enough to explain it as a product that someone else could buy into. 

If you have a service, it's hard for people to understand what it is. If you have a bottle of Coke, people know what it is when you hold it up. Your service has to be as easily understood and identifiable as that bottle. You know what you do, but if you find it hard to describe it to others, you will not be able to generate sales. When I told people I meet with them, go through their business systems, look at their P&L statements, and talk to their employees, I have only described my services. People have to be able to see what value they will receive from what your product or service is. 

Your system is your product, map it out in detail, inform your employees, and use that to track with your clients. 

1. Grab a paper and pencil and write out in detail what you and your clients do. What do you do when you first meet with a client? 

2. Start working on the first identified problem and what is contributing to that problem. Determine a tracking system that leads back to that problem. I do a business analysis and risk assessment on the business owner and get clear on what problems need to be addressed first. 

3. Create a solution set to the problem. 

What value does your client get?

When you've done those 3 steps describe to a friend what you do and let them tell you back what they've heard. Tell them to be aware of the steps you take and see if the steps they say back to you are exactly what your process does. Do they see the value in what you do and would they buy in if they were in need of your services?

When your steps are clear you can turn your approach into teachable products and sell them to others so they can learn to do the same. Once you have an outline of what your product is, as clear as a bottle of Coke, you need to share it. Each share helps more people understand your service as a product and gives them an opportunity to buy into what you're doing. Each share also helps you better describe your service as a product. Let people understand the deep and valuable power you have through your product.