Tips for service-based businesses

1. A service business serves its customers by selling their time, skills and knowledge to achieve a result. Examples include accountants, lawyers and financial advisers.
2. Business owners can attract more customers to the business by:
   • Knowing the services they provide well, so they can attend to all customer queries;
     
   • Having success stories, testimonials and examples ready to share with the potential customers; and
     
   • Knowing their point of difference or unique selling point that sets them apart from their competitors and using this knowledge advantageously when marketing the business.
     
3. To have an effective pricing strategy, it is important that a business:
   • Research its competitors and similar businesses;
     
   • Review all business costs; and
     
   • Consider how its own pricing may influence who its potential customers are.
     
4. For more information, click here.