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The product service interchange

Interchanging between a product and a service solves problems and adds value.

Your business primarily provides a service or a product.

One way of scaling your business is to convert your service into a product. This expands the numbers who can buy from you. A car mechanic is time bound by the number of clients she can see in a week. When she starts to offer training videos about basic car maintenance, she turned the service into a product with potential global appeal. A hairdresser can leverage her business by offering a range of hair care products . The examples are endless.

On the other hand you can turn your product into a service. A builder can offer surveys and advice to a customer. A computer company can offer free support in how to use one of their products. When interchanging between a service and a product you are certainly adding value. I will purchase a computer that has the technical back up. I am much more likely to sign on for a yoga course if I cant get to the venue. This example of an on line course is solving my problem. How to learn yoga.

When you are finding your business is in the doldrums think of how you can turn the product into a service or the service into a product and how that can add more value and or solve more problems.


Published inBUSINESSMoney