Is your company a good product?

Is your company a good product?

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Be it a small of big company, creative agency or grocery store, service or product your business should at some point run by itself. In the end that was the final objective, to gain some more freedom, right? Unfortunately most of the companies represent a chaotic collection of individuals just trying to get things done in hope for magic to happen behind the scenes. But usually magic does not happen and only a couple percent of companies resemble a sustainable and valuable product.

So how do you transform our company into a valuable product? There is a couple of things you can do right now. And even though your company might not end up as a great scalable business the following tips will help you to gain some more time, freedom and peace of mind.

1.Get rid of 90 percent of your services or products and focus on the one you do best. You will find that your sales team improves performance and you can give them more and more responsiblities over time.

2. Work out exact process for your service. A 3 or 5 step process so that it looks more like a product. This will help you to stick to the process that works and is effective. And if it works do not try to fix it.

3. Charge upfront. Yes customers will pay for your service upfornt if you create an impression of selling a product rather than a service.

4. Automate your customers. Did you ever think of running a subscription model in your industry? Or maybe there is a potential for a subscription add-on to your existing offering? Subscibers are great as they give you cash upfornt for a long period of time so do not have to worry about cash flow.

These are just a couple of tips to help you to add value to your company. If you liked this article I highly recommend the following books to give you more subject on the matter:  „Built to sell ” –  John Warillow

 

Autor:
Tomasz Kaszura
University of Wolverhampton

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