7 steps: service to scale (the guide we wish we had)

10
7+1 STEPS: FROM SERVICE TO SCALE Turning a Service Business Into A High-Growth Tech Company

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Post on 21-Jan-2018

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7+1 STEPS:

FROM SERVICE TO SCALE Turning a Service Business Into A High-Growth Tech Company

A HOW TO GUIDE Just One Journey

This is the how-to we wish we had 4000 mistakes ago. *This comes with a warning.* As all advice it is only worth what you paid for it and your mileage will absolutely vary.

Insights from Service In the Head of Your Client

It provides you with an understanding of their processes, what they’ll pay for, and what they won’t.Whatever service business you either founded, worked in or worked with, it will give you a great opportunity to truly see how these companies act.

You Need A Problem Others Need to Share It

The BIGGER the problem the better!If you can see this in a few of your client’s, that’s great. If you can see this in yourself, even better! If you can see it in everyone you encounter, that’s even better still!

+ It needs to be repeatable (REPEATABLE = SCALEABLE)

Build internally first It’s Bad Tool Time

Beg, borrow, steal and outsource any development asset to build a terrible internal tool + train your staff on it.Then we asked clients to tell us if it makes us better/worse. You can test without ruining your revenue stream or killing your service business!

ADD Smoke & Mirrors Look at This Awesome Product (not really)

It’s really just your trained staff using your bad tool.If your hypothesis is correct and and have a universal problem you’ll start hearing things like:

“Wow this is much better than it was before!”“Can you tell us how you achieved this result that was better than before?”

Get out of the building Ask Your Clients if They’ll Pay for Your Tool

Take your bad tool, make a power point and pretend it’s way better than it really is!If you get a “YES!” that’s awesome! Now take your powerpoint + their advice and go ask 10 people you don’t know the same thing!

The Moment of Truth It’s Decision Time

You can’t serve both masters.Do you want to forego your service business and profitable revenue stream? Or do you want to build a product and software company for a shot at scale? Either answer is fine!

PROduct first A Change in Direction

Instead of the service mindset - “Yes Sir” - the correct answer is now “Focus”.If you can manage to change your thinking and get away from your revenue stream the path ahead is new and exciting!

Cheers! A Bold New Journey

Congratulations!You might now have a minimum viable product. Step #8: FUNDRAISING