EP9: Forcing Business Growth

ProfitLayer with Timothy Dick - Business building explored layer by layer.

“Growth is a process of eliminating the friction and limits. It’s not about forcing the thing you’re already doing.”

- Nic Peterson (7:56-8:06) Timothy Dick

Profit Layer

There are countless tools and tactics that business owners can use to build their clients, market their businesses, and generate more revenue. But service providers can struggle to grow their businesses, often trying to force their growth.

If you’re a service provider, be careful with trying to force growth. There are certain skills required to grow a service-based business that are different from those used to scale a company. Growing your business comes down to validating your offer and removing limiting factors. When you know people want what you have, and you provide a great service, you no longer have to force your marketing message down people’s throats. You just have to remove the limits to growth.

“You have to remove friction when scaling a business. You can’t just work harder and harder. It has to get easier and easier to do the same amount of work.” - Nic Peterson (3:03-3:11)Service providers need to simplify the sales process to avoid the common hurdles that stop them from reaching their goals. Many enjoy rapid growth when first starting their businesses. But they soon hit a ceiling, unable to generate new clients and high-ticket sales. Many turn to paid advertising and running more webinars in an effort to sustain growth. But there’s a different marketing approach that eliminates the hassles of growing a service-based business.

Where are you losing sales?

Where is friction getting in the way of your business growth? Service providers often lose sales at two points within the sales process - the initial sales call and at the end of the client’s program when there’s an opportunity to buy again. Unlike traditional marketers who follow the “market then sell” approach to growing their businesses, service providers may not get the same results from this strategy.

Service-based business owners get better results with a consultative sales process, which starts by providing service and then letting that service make the sale for you. Once you’ve acquired the client, you continue providing service to maintain their business over time. But if you’ve sold a 12-week program, weeks 10 and 11 can feel like a countdown to doomsday. Your client may be dreading what comes next, and you may be dreading having to make another sale. This creates unnecessary friction.

“If you’re a phenomenal service provider, market and sell once. But make it as easy as possible...and then provide service. Your clients will stick around forever.” - Nic Peterson (6:29-6:39) Stop trying to sell your prospects. Just serve them. They’ll soon ask you how much your services cost. But this approach isn’t what most service-based entrepreneurs are taught. They learn marketing strategies that are better suited for selling products. When you provide service first, you lower the entry point and increase the lifetime value of each client. You leverage your strength for providing high-level service. Your service does the heavy lifting for you.

Achieving lasting growth for your service-based business comes down to marketing and selling your offer once and then letting your service do the rest. The more phenomenal service you deliver, the more likely your clients are to stick around. You eliminate the stress and friction that traditional marketing strategies can create. You're no longer forcing the things you’re already doing. When you lead with service, it’s easy to keep your clients forever. How to get involvedIf you would like more information about Timothy Dick, and the success businesses have gained through work with him, please visit his website. If you liked this episode, be sure to subscribe and leave a quick review on iTunes. It would mean the world to hear your feedback and we’d love for you to help us spread the word!