When your business is first getting started, selecting your services and setting your pricing can be overwhelming and frustrating for business owners. It helps to understand why you can feel this way and what to do about it.
- Fear of Not Offering Enough to Prospects/Clients – Many people are afraid of not having something to offer everyone who inquires about their business or walks through the front doors. They feel like they’ve “lost” a client because they didn’t have something to offer them.
- Fear of Offering the Wrong Service(s) – Others tend to waiver on the selection of the first services the business should offer. They know they need to narrow their service offerings in the early stages, but they can’t figure out which to keep and which to eliminate. They ask questions like, “What happens if I choose the wrong one?”
Fear of Not Offering Enough
Have you ever looked at the pricing sheet or service list for a business and felt like you were looking at the menu of a restaurant? How did it make you feel? Probably overwhelmed and confused.
Yet, out of fear of “losing” a prospect, we try to become all things to all people. We dilute our core service with “add-ons” and “features” that we think will make our company more appealing. Instead, they only serve to confuse the prospect and make it appear as if we don’t really understand our target audience.
The result is that our fear of offering too little causes us to offer far too much. You’re far better off starting smaller and then letting your market dictate where your service goes. Try to predict everything your market wants or needs is a losing and expensive battle.
Fear of Offering the Wrong Service(s)
For those that know they should limit their service offerings, the narrowing process can easily induce ulcers! In some ways, it feels as if you’re choosing between your kids. You love all of the potential services equally – how can you choose one over the other? It just doesn’t seem right.
On top of that, you want to make sure you have the “right” services to launch with. You’re concerned that if you select the “wrong” services, you’ll lose potential customers because they’ll view your business as unable to help them.
This stems from the idea that you’re “locked in” for some length of time in having to offer the services you select. While that may be true in some cases, a service-based business is often more fluid than that.
We’ve all heard stories of companies that started out doing one thing then evolved over time to do so much more. Amazon.com used to sell just books. Google used to be just a search engine. Neither started out trying to be everything to everyone. They evolved into that.
Pick something. Do it really well. Rinse and repeat.
Photo credit: http://www.flickr.com/photos/journeyscoffee/2158072417/