Every business owner wants to create more leveraged services. Services that can deliver higher value to their customers, with less time and energy invested in fulfilling them.
It’s very hard to do that without sacrificing quality and results for your client.
This of course would not be a good trade.
However, creating a more leveraged solution for you and your clients is a high value way to use your time.
Think about how powerful this can be. Some of the largest and most successful brands on the planet reinvented their products and services to create more leverage.
So the question is, how do you do it?
First, you need to break down your service into its core parts.
This can be really difficult to do, especially if you’ve been the main one delivering your service. It can come as second nature and you often don't think about the things do you for your clients when they work with you.
However, creating a list of what’s included with your services is the first step to creating a more leveraged service without sacrificing value and results for your clients.
It’s also essential if you want to market it effectively.
Basically, to do this, you need to answer this question:
When someone gives my company a certain amount of money, what do we do in exchange for that money, and what is the result they get?
Put that down in a list.
Once you have this list in front of you, you will begin to see your service as the sum of its parts.
Do an 80/20 analysis of your services and see which features on your list provide the most value and the least.
You will notice in the delivery of that service there are some things that you do because you know it's important to getting the results but it's not something the client is actually interested in.
You will find there are a few of the features of that service that are by far the most important to the client. Those are things everyone asks you about to make sure they are included.
You will also find there are some things that are not important to you delivering the services to the client or getting them the desired end result or important to them. These things can be eliminated from the service immediately which will instantly save you time, energy, and money in fulfilling that service.
As you do this analysis you need to identify which features of the service take up the most time to fulfill but provide the least amount of return or result for the client.
You should consider if the service can be delivered without these things.
For example, Before McDonald's, a customer would go into a diner, sit at a table, and have a waitress come take their order, which they had an extensive menu to choose from.
McDonald's offered a limited menu because they knew that 80% of the customers ordered only 20% of the items on the menu. A hamburger or cheeseburger with fries and a shake or a coke for a drink. Instead of waitresses, they had you come to the counter and place your own order in exchange you got a pretty good burger and great fries faster and for less.
It was a concession the customer was willing to make, and the rest is history.
Of course, we know that Henry Ford took similar action.
There are many lessons here we could learn from Ford, but for our example, he simply realized that having a cheaper vehicle, with only one color to choose from, black, was a trade the customer was willing to make.
We always think our services are different, but the fact is technology is accelerating at a pace never before seen in history and any service can be simplified to increase leverage, profitability, and value to the client.
Don't be held back by thinking your service is different or your service is impossible to revolutionize.
It's always impossible until someone does it. Why not be the one to do it?