There is no service entrepreneur who has not dreamed of launching his own product.
Of course, the unknown beckons, especially seeing the success of a number of product companies.
The founder says, “I want to do something tangible that I can ‘get my hands on.
But if you dig deep, the real reason is something else.
The founder of a service company is just dead tired of milling the wind.
Struggling for customers, employee wage increases, and low margins were killing the point.
The first 5 years it was interesting, the next 5 pulled out of habit, but now the energy is gone.
Sell the business? No one. To reassign? Impossible. Get up and leave? No way.
Out of the dilemma comes the dream of the product as the miracle solution to all problems.
However, only a few manage to realize this dream.
Why? Making a Wow product is no easier than a Wow services business.
But if the founder has invested 10 years in services, with a product you have to go over it all over again.
It’s much easier and faster to rethink the current service delivery model.
The goal is to create an order of magnitude higher value for customers, in exchange for getting a margin of x2-3.
And then, having a surplus of cash, you can do product R&D.
The industry doesn’t matter - IT outsourcing, law office or architectural boutique.
What is important? A desperate determination to reinvent your services business.
Sincerely yours,
-Alexander
You can help Ukraine defend itself and the World from Russian aggression here.
”Who are you and what do you do?"
As a business therapist, I help tech founders quickly solve dilemmas at the intersection of business and personality, and boost company value as a result.
"I have an important business decision to make. Can you help me?
Reserve a time on my calendar that is convenient for you to meet with me. We'll clarify your request and discuss options for how you can help.