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Salt Lake City Bookkeeping Blog

Differences Between Service and Product-Based Businesses

Posted by Alex Viau on Oct 5, 2016 9:00:00 AM

Sure, a product business sells stuff and a service business sells useful labor. But beyond this basic definition, product and service business owners differ widely in how they sell and how they manage their enterprises. Learn more about the key differences between product and service businesses, and examine your own practice to identify areas where improvements are necessary.

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Topics: Service Based Business, Service Business, Product Based Business

More Advice for Growing a Service Business

Posted by Matt Roberge on Aug 20, 2015 7:30:00 AM

In today's article, I want to revisit a subject I have thought about and written about many times over the course of my career. I've written about growing a service-based business in the past; that includes my article titled: "Why Is Scaling a Service-Based Business So Difficult?" Some of my thoughts on the subject remain the same, while others have changed. Here are some thoughts on how to grow a service business.

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Topics: Small Business Growth, Grow Your Business, Scaling A Service Business, Service Business, CEO Advice

8 Things our Small Business Needs to Succeed

Posted by Matt Roberge on Feb 24, 2015 7:30:00 AM

There are certain things every small businesses needs in order to succeed. I could make this list incredibly long but wanted to keep it to the essential items that have helped us succeed. Please note that in this article I am referencing a small service based business. Here are the 8 critical necessities for our small business to succeed.

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Topics: Business Budgeting, Small Business Growth, Scaling A Service Business, Scaling A Business, Service Business, Business Blogging, Business Vision

How Blogging Can Drive Sales For A Professional Service Business

Posted by Matt Roberge on Aug 26, 2013 7:00:00 AM

I recently got involved in a discussion in a LinkedIn Group that I am a member of called the Bookkeepers Referral Network.  The question for the group was: "Any blogging tips for a non-blogging bookkeeper that is trying to build a following?" Being a bookkeeper that actually blogs I commented and gave my input.  Then someone commented with this: "I would love to know how much work "bloggers" actually get out of blogging? Sometimes everyone blogs because it's the thing to do for the moment, but does it actually produce work?"  I of course commented back and let everyone know that yes blogging does indeed work and can produce sales for your business.  I have had a few offline discussions with some of the members that were interested in my thoughts.  I then got to thinking about the real reasons why accountants or professional service businesses in general don't blog.  Here are my thoughts as to why service businesses don't blog and how a small business can drive sales with a blog.

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Topics: Inbound Marketing, Small Business, Service Business, Small Business Sales, Small Business Blogging

Service Based Business: Stick To Your Niche Service Or Expand?

Posted by Matt Roberge on Apr 19, 2013 7:00:00 AM

If you are a service business you will eventually hit the crossroads of a tough question; stick to your niche service or expand into other services?  Scaling a service based business is difficult enough as it is.  As an entrepreneur you will eventually hit a limit as to the amount of business you can handle on your own.  Most business owners instinctively want to expand and grow without asking a very important question: are you truly ready to grown your small business?  I've seen some service based businesses successfully scale their current service.  I have also seen businesses successfully expand into offering other types of services and gain more market share.  However, I have seen businesses (and more of them) fail at both growing their current service and/or expanding into other types of services.  Before you expand into offering other types of services here are a few things to think about.  

Do What You Are Best At

There is a lot of value in focusing on what you are best at rather than doing a few things that you are good at.  By focusing on what you do best you will benefit in several ways.  First, success will come naturally when you focus on your niche service.  You will also have the ability to become an industry expert in one service in the eyes of your business network.  Lastly, you will have the opportunity to emerge as a thought leader in your niche service.  All of these are good things that will lead to a more successful business and career.   

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Topics: Sales Advice, Business Sales, Grow Your Business, Scaling A Service Business, Service Business, Niche Market