7 Tips for Growing a Successful Service-Based Business
What if I told you launching your online business isn't as complicated as you thought?
I actually launched my own business without a plan, and now I'm making around half a million in revenue on an annual basis.
Hmmm…
"Trena, howwww?!"
After six years of running an online business and providing my services, I’ve immersed myself into what works and what doesn't. I've seen businesses fail in under a year, and some are still growing after 10+ years. I sat and analyzed what others were doing because I was eager to know what worked.
After years of studying other people’s businesses, I'm breaking down a few must-haves when launching your own online business — specifically a service-based business. These are the businesses that exchange a service, like YouTube production, copywriting, graphic design, etc.
Disclaimer: Starting a business is tough work. I'm not saying these tips are magic beans that'll make yours sprout up overnight. The old saying "anything worthwhile takes time" is a cliche because it's true.
If your business isn't catapulting into virality a week after launch, stay patient and stay consistent. These tips will help you stay sane in the meantime.
Know the Problem You Solve
Businesses exist to solve a problem, even something as simple as your kids making a lemonade stand to sell lemonade on a hot summer day. If there's a need, there is a business that can provide a solution.
For example, mine teaches business owners who need a YouTube strategy how to DIY it in a way that makes sense for them. I also offer 1:1 YouTube strategy services for business owners who want to go in-depth with their plans.
And just because someone else is doing it doesn't mean you shouldn't try. You have your own unique spin to offer the world. Someone might learn better from you than they would from your “competitor.” You may be offering a unique position and outlook on their problem that others don't really touch on or are even considering yet.
Remember — what you're offering isn't just about what's a hot topic at the moment. You're not in it for a quick buck, which, if you're just hopping on the bandwagon, is all you'll get.
You have to find something that works for you — a problem you actually like to solve.
Here are a few examples of service offerings:
Copywriters who write launch copy for first-time course creators
Funnel Gorgeous lets you create PRETTY funnels (I know those words don't usually go together, but you'll have to trust me on this one)
Graphic designers who specialize in brand design for female entrepreneurs who are ready to leave their 9-5 job
Starting with a service-based business lets you work through the problems your ideal client has so you can continuously perfect your craft.
Who Do You Want To Work With?
I started with the good ol' spray and pray method when it came to finding clients — and yes, it's as bad as it sounds.
It's basically just like throwing spaghetti at the wall and seeing what sticks. It was complete and utter chaos, and I never felt like I had any time to do anything besides client work. Nothing was streamlined or efficient because my client persona was all over the place.
This is why I talk so much about finding your niche. It does make a difference. But niching isn't just about finding the specific topic you want to talk about either. It's about getting deep and learning more about the people you want to serve.
Maybe you want to be a social media manager, but for who? Are you targeting business owners or influencers with your content? There's a totally different way to talk to each "target audience" or client avatar, and whoever you decide you want to talk to, you want to touch on their biggest pain points.
Don't stress over this step. Pick someone and start. If you realize you don't like working with certain types of people or businesses, just finish out your work and move on. That's the beauty of owning your own business. You can pivot whenever you need to.
Decide on Your Offer
Compile a list of services and brainstorm what you want to do. Start with a beta — offer it for free in return for feedback on your process and get solid testimonials/referrals. Be careful that you're not giving away too much for free. Just do this for a short testing period. You could offer beta testing on:
Project-based work
VIP days
Retainers/ongoing work
Expand on your business' unique position and the tools you have to solve them. A few examples this could look like:
Copywriter
Launch copy
Email copy
Website copy
Running coach
VIP day one-time training
Retainer for ongoing personal training
Project-based for the short-term, like training for a marathon
Business systems
VIP day for a client in pre-launch mode
Retainer for small agency coaching
Project-based clients for building out systems that last
Dubsado set up
FG Funnel* set up
Kari Poppleton does Google analytics and Google Drive organization and is a great example of this!
* This is an affiliate link.
Pick ONE Person to Learn From
There's nothing wrong with being hungry to learn. It's how we grow as business owners. We have to constantly live in a state of evolution, so it's only natural that we try to take in everything we can learn.
But analysis paralysis? That's a real thing, and it's super easy to get locked in a never-ending loop of it. As entrepreneurs, we are constantly overanalyzing everything. Signing up for another course here, another mastermind over there.
But overthinking and trying to absorb too much information freezes you up and keeps you from moving forward.
To make sure I actually implemented focus into my strategy, I took a leap to invest in a mastermind with people who were MUCH smarter than me.
It was terrifying!
Masterminds are nothing new to me, but I always felt they were a waste of time and money. The information was either unhelpful or I just didn't click with the other people in my group. And I didn’t want to waste anymore of my time trying them out.
However, in 2021, the mastermind I joined transformed my mindset.
Not because of the course material, but because I was able to build some valuable connections that showed me we're all struggling with something. It was a big investment, but it's one I'm glad I focused on — something I wouldn't have been able to do if I had my hands in 17 different buckets.
Make a Plan and Make it Messy
Nothing will ever be perfect, and when you're talking about small business owners and all things entrepreneurs? It's a lot of trial and error.
Waiting until things are perfect means you're never going to start. Stop hiding and get busy!
Have a plan of action, though, before you do. I like to plan out quarterly because it gives me the best overview of what I need to be doing weekly and monthly, so everything I do ties together. It helps me get consistent with my content and stay focused on my offers.
I also set boundaries around my work hours to make sure I don't run out of steam or overwhelm myself.
When you're in the thick of launching an online business, you may not realize how important focus truly is. It can make or break your business. You have to get focused to pull it all off (even if it comes with a few mistakes first).
Get time scheduled on your calendar to focus and keep that commitment to yourself and your business.
Find YOUR People
The other key to success? Finding the right people. Going solo on this entrepreneurial journey is probably one of the worst things you can do for your business.
You'll get overwhelmed with your work and begin to wonder if you're the only one who feels the way you do. You'll doubt yourself. You'll want to throw in the towel. You'll question everything you do.
When you make connections and have a few friends or colleagues you can bounce ideas off of or vent to, it makes this thing a lot less lonely. You'll still have moments where you want to scream like a toddler on an airplane, but these people can lift you up so you can keep going.
Who knows…you may even find some awesome new clients through networking.
How the Heck Do I Build a Client Base in the First Place?
If you're still wondering how to build an audience to even get clients in the first place, I want you to listen to this episode of The Video Reframed Podcast!
Your channel isn't going to grow overnight. It takes time and lots of practice to hit those projected outcomes and eventually reach your ideal client. It takes WORK, but if you're willing to put the time and energy into watching your channel grow, YouTube will be a great tool for generating leads.
