When you first start out in business one of the first things you’ll have to decide is what you will market. Will it be products or service based? It may not be obvious, but it is definitely possible to start a six-figure service business that will change your finances for the better.
Product-based sales tend to be the most talked about businesses, but a service-based business may be a better fit for you.
A few service-based business choices might include:
- Graphic Design
- Web Design
- Website Management
- Website Setup
- Social Media Profile Graphics
- Profile Setup for Social Media Accounts
- Social Media Marketing Management
- Email Writing
- Newsletter Creation- Templates and Layout
- Auto Responder Writing
- Virtual Assistant
All of these service-based businesses require a specific skill that you can learn and earn at the same time. Each one has several levels of skill that can be marketed from beginner to mastery. The great thing is each level also has clients just begging for someone to serve them.
Let’s look at some of these service-based opportunities and how you, a new business owner could develop your skill in each.
Obviously, you need some skills here. You need to have access to and have an advanced understanding of the Adobe suite of products (Photoshop and Illustrator, especially). If you are at a beginner level, you need to increase your skills either through classes or online training. Maybe even some tutorials through YouTube. While this is an excellent service business, make sure you have the skill set first.
A career in graphics design requires that you continue to learn as you earn and never give into the notion that you’re ‘all set’ in your career. Things change rapidly in this niche and offer many income potentials.
Website Management And Setup
This would include setting up WordPress, installing banners, widgets, Opt-In boxes, maybe some custom coding and even sales copy. With the ability to start out small ($295 projects) and work your way up you could easily do 3-4 clients per week earning $3000-5000 per month. The only difference between someone who does earn that kind of income in Website Management and Setup and someone who does not is marketing. Just marketing. That’s it. One person markets themselves online and the other person waits for jobs to show up. Wouldn’t it be a great opportunity to learn how to do this amazing occupation? Sadly, many wanna-be business owners give up en route to mastery because they’re expecting huge incomes in the first 45 days.
Auto Responder Writing And Newsletter Creation
Good copywriting is a fantastic skill to profit off if. If you can learn to write autoresponders that build rapport, connect the client to the company and then close the sale, you can definitely make a living from it. Autoresponder writing is fun, easy to learn and anyone who knows how to talk to people can master this marketable skill.
Service-based businesses rely on regular clients, so the biggest focus for a freelance service provider is in finding new clients every week. There are many online project sites like Upwork.com and Guru.com and more that you can use to build a 6-figure business in under 12 months. Regular small projects with a wide variety of clients made it very possible.
Here’s an example of how this kind of business can play out:
$75 per email for autoresponders- 4 emails in a series= $300
3 clients in a week = $900 per week = $3700 per month.
Once you have increased your skills, you can raise your rates! So let’s say you raise your rates to $125 per email.
Total increased income with same amount of clients= $ 1500 per week= $6000 per month.
Added installing WordPress, set up Opt In Forms, create a great Opt In Offer & Write a Free Report = $895-1395 per setup of entire project
3 projects per month = $2985 more income
Total Income: $8985.00 per month= $107,820 in income
Before you go out and buy a new house, or begin dreaming about being rich, there are a few key things you need to learn when starting this kind of business:
#1- Be consistent– I typically see lack of consistency before there is lack of skill. Highly skilled writers and graphics artists who give up prematurely are far more common than those who simply aren’t any good. Be consistent, stay faithful, serve your clients and be here 1-2 years from now.
#2- Keep learning– one of the biggest keys to success is to keep learning. The more you write and design, the more your skills will improve. And get a mentor! A mentor can critique your work and offer advice to help you succeed. With every critique, every investment into your future, every project completed your results will get better.
#3- Pay attention to the marketplace– it is critical that you always be one step ahead of what the marketplace wants. This is why having a mentor and being with like-minded people is so important! If you can be ahead of the curve, you’ll be able to serve your clients more faithfully and more effectively. This, in turn, brings you to a higher level of providing excellent service and being paid handsomely for it. Pay attention to successful business owners online, read online media resources. Become an avid student of your particular niche.
Quick Links to Info on this Page:
- 1 A few service-based business choices might include:
- 2 Let’s look at some of these service-based opportunities and how you, a new business owner could develop your skill in each.
- 3 Here’s an example of how this kind of business can play out: