In issue #5 of BootStrapped Weekly, I highlighted my recent awakening on productized services.
A few weeks ago, if you wanted to start your own software company I would have recommended:
- find a market interests you,
- build a product
- serve that market.
I would have recommended you do not let yourself get side tracked in service work. Focus. Focus. Focus.
A recent Tropical MBA podcast, has put a serious dent in this recommendation.
The Rise of the Productized Services discusses the many benefits of starting your business by doing services work with Damian Thompson of Linchpin.
Do not confuse this with “consulting” (developer/copywriter/etc for hire). Instead:
- find something people are already paying for (Infusion Soft) which requires significant skill and time to get right
- it should also lead to a significant increase in revenue for the customer (or a major time savings)
- become an expert at this service
The more work you do, real problems will become obvious and building a product to serve this market be much more possible (not to mention your current service customers are likely future product customers).
If you are on the fence about how to get start building your empire, this is a great episode.
Bonus: Dan Norris talks about why he went the Service as a Service route with WPCurve.