Should You Run A Service Business Or A Product Business Starting Out?

Should You Run A Service Business Or A Product Business Starting Out?

I currently run a product business and have run many service businesses online in the past.

If you’re just getting into the game and you are wondering whether you should dive into a product business or a service business it’s key to know the pros and cons of each one.

(Please note, I’m talking primarily about online businesses that deliver digital products or digital services.)

PROS OF RUNNING A SERVICE BUSINESS

  • Great way to develop skills and quickly turn those skills into money (like when I sold graphic design or SEO services to clients)
  • You can sell right out of the gate without building anything (send the invoice and deliver the service, no setup beforehand)
  • Easy way to get lots of referrals (when you deliver a service to someone, chances are there’s people around them who want it too)

CONS OF RUNNING A SERVICE BUSINESS

  • Immense time investment if not setup correctly (if you’re in charge of sales AND in charge or fulfillment, you’ll be working all day)
  • Always hunting the next client (since you have no real assets built, if getting repeat clients for your service is hard you’ll need new ones)
  • Can be stressful “reporting” to people (if you have lots of clients, in a way you have a lot of bosses that you have responsibilities to)

PROS OF RUNNING A PRODUCT BUSINESS

  • Build the product once and sell it forever (nobody pays you to BUILD the product but once it’s built you have an asset you can resell infinitely)
  • More sales doesn’t mean more time invested (digital products can be delivered instantly whether it’s noon or 4 in the morning)
  • You can open it up to affiliates to sell for you (a one-time setup can open up the floodgates to affiliates that will sell your product FOR YOU)

CONS OF RUNNING A PRODUCT BUSINESS

  • Building a product is a TON of work (nobody pays you while you’re building the product, even though you can earn when it’s live)
  • You have to be better than the competition (chances are other people are building similar products in your space, so you have to one-up them)
  • There’s ALWAYS extra work that goes into it (in addition to building the product you’ll need to build a sales funnel to sell it)

I recently announced that I wasn’t taking on clients anymore in my business and that is so that I can devote my time to a product business, where I sell lines of digital products from the various companies I’m running in different spaces.

When I started out though, I was running service-based businesses almost exclusively.

It was the fastest way for me to come into a marketplace and monetize a skill that was in demand like graphic design or SEO (can be others too of course for you).

Personally, as I went through the years I would get better and better at getting new clients.

But what that left me with was a LOT of clients where I was doing all the fulfillment by myself in ADDITION to going out there and getting those sales in the first place.

Discovering that I loved building digital products helped push me in that direction as well.

It really depends on personal preference, don’t get me wrong.

Some people absolutely LOVE and THRIVE in client based businesses.

Some people prefer making digital products and selling those passively.

At the end of the day it comes down to really analyzing those options against your BIG vision of where you want your life and your business to go.

Do you like working with people 1-on-1 to help them solve their problems?

Or do you want to wake up with nobody to report to that day?

Do you like getting on Skype calls and coaching people through things?

Or do you want products to be sold with passive marketing campaigns you run?

Ask yourself these questions (and feel free to ask me any questions as well) while determining which one you want to start with, and know that you can always SWITCH LATER if you feel you’ve picked one you don’t resonate with or you can DO BOTH if you feel inclined to do that as well.

How To Run A Simple Business That Doesn’t Stress You Out

How To Run A Simple Business That Doesn’t Stress You Out

Business can be extremely SIMPLE or extremely COMPLICATED based on how you set it up.

One way to make business easier is to run an online business…

…but even THAT can get overcomplicated QUICK (if you let it).

For example, starting a physical brick and mortar business gets complicated INSTANTLY. You have to go far into debt for it, run through all the red tape that comes with a physical business and deal with everything that comes with a physical building.

Starting an online business can be much simpler.

You don’t need a building.

You don’t need to go into debt to start.

You can literally get started as long as you have wifi.

NOW…inside of the online business world we want to keep it SIMPLE.

Lots of people complicate it for the following reasons:

  1. THEY TRY TO DO EVERYTHING THEMSELVES

In an online business there are a lot of different components. There’s creating a product to sell, creating the sales funnel, building a list, emailing your leads, etc.

These are all things you should learn how to do EVENTUALLY but if you try to learn them all right out of the gate before you make money, it will take you forever to make your first dollar. The best solution is to leverage an internet business you can come into where 90% of the work is done for you and you just have to drive traffic to make sales.

2. THEY DON’T FOLLOW A PROVEN GAME PLAN

If you really want to make money online, there are PLENTY of people who have figured it out before you. There’s no need to reinvent the wheel.

It will take FOREVER for you to get results if you’re just trying to figure out everything yourself. But if you make it a priority to lock onto a mentor QUICKLY you can learn from them and avoid all the mistakes they made and replicate their success much faster.

3. THE FOCUS ON TOO MANY ACTIVITIES

Like I said, there are a LOT of different skills needed to build a truly successful internet business. But these skills take TIME to develop and it’s best to develop them one at a time. If you try to master them all at once, you’ll master none.

Keep an eye on what the skills you need to learn ARE…but aim to master them one by one. By diving into a leveraged business system where the system is built for you and you just need to bring leads to the system, you get to focus on TRAFFIC and not have to try to master a thousand skills at once.


Avoid these 3 mistakes and you’ll be able to start a business online that is simple to run and is able to earn money for you passively. If you fall for these 3 mistakes, you might wind up with an internet business and it might even make money, but it will be stressful and you’ll never be able to truly grow.

Why You Need To Treat Your Business Like The Gold Mine That It Is

Why You Need To Treat Your Business Like The Gold Mine That It Is

Think of your online business as a gold mine.
 
It’s not too far off…stick with me…
 
Would you go mine for gold because “it sounds
like a good idea at the time?”
 
Do you mine for gold because it “feels right”?
 
I CERTAINLY HOPE NOT!
 
You mine for gold because WHOA YOU JUST FOUND
A BUNCH OF GOLD JUST WAITING TO GET MINED!!!
 
This is where many mess up…
…with the whole “following your passions” thing.
 
Now don’t get me wrong…your passions are important.
 
But they’re not the ONLY factor at play.
 
You can’t just do something you’re passionate about and
hope that everything works out, hope that the money
handles itself and hope that the numbers will keep growing.
 
That’s just not the way it works.
 
That’s a surefire path AWAY from what you want.
So what can you do?
 
The key is to unleash your passion inside of an already
PROVEN SYSTEM that can help you make money while
letting you be CREATIVE, BE YOURSELF and LIVE YOUR LIFE.
 
Systems can set you free if you let them…
Systems like I just mentioned.
 
Systems like this one:
 
Maybe like me, you came into this online game to actually
be able to live the life you knew you deserved…
 
…not to end up working all day…
 
…trying to “figure it all out”…
 
…and slowly forgetting to spend time with the people you
love, doing the things you love to do every single day.
 
The truth?
 
You can live ANY life you want.
 
One full of abundance, prosperity and wealth…
 
…one where you get to wake up every morning with a smile
on your face knowing you can do WHATEVER you want to
do that day with no limits…
 
…with no boss you hate…
 
…with no early alarm clocks to punch…
 
…and with no commute & job that takes you away from your FAMILY.
 
You can have it all my friend.
 
And you can make your passions come ALIVE again, to step into
that naturally creative state you had as a child…
 
…that maybe you’ve held inside for FAR too long…
 
…that maybe you’ve held inside until this VERY INSTANT.
 
Unleash it my friend.
 
Unleash it with a system that supports it, that fuels it, that makes sure YOU can thrive while living life from that passionate place in your heart.
 
Systems like this one:
 
I’ll see you inside.
 
Remember, you can ONLY live your passion if you have systems up that actually handle the majority of the work for you so that the income is still flowing in without YOU having to attend to every little thing in the business.
 
Give yourself fuel, not chains.
 
And use a system that is PROVEN to help you break free and live life by design.