𝗧𝗵𝗲 𝗣𝗼𝘄𝗲𝗿 𝗼𝗳 𝗣𝗿𝗼𝗱𝘂𝗰𝘁𝗶𝘇𝗶𝗻𝗴 𝗦𝗲𝗿𝘃𝗶𝗰𝗲𝘀 𝗳𝗼𝗿 𝗦𝘁𝗮𝗿𝘁𝘂𝗽𝘀

Welcome to next series on 𝗧𝗵𝗲 𝗣𝗼𝘄𝗲𝗿 𝗼𝗳 𝗣𝗿𝗼𝗱𝘂𝗰𝘁𝗶𝘇𝗶𝗻𝗴 𝗦𝗲𝗿𝘃𝗶𝗰𝗲𝘀 𝗳𝗼𝗿 𝗦𝘁𝗮𝗿𝘁𝘂𝗽𝘀

Services as most people know is customer centric and for a particular taste. Some services are generic and for a set of people. As you expand your customer base, the need is to transform services into scalable products. The transformation can help you grow, scale and streamline ops around the core ‘service’ delivery.

There are no of examples, #Jio, #Spotify, #Airteldth, #Indiamart, #urbancompany etc. who deliver a service, but sell products to the customer We will talk about them in examples and how we can learn from them.

If you have a ‘service’ and you are wondering how to do I scale with minimal investments in operations, this series is just for you. 

𝗪𝗵𝘆 𝗧𝗵𝗶𝘀 𝗦𝗲𝗿𝗶𝗲𝘀?

I've been working with several startups in both B2B and B2C spaces over the last few years. And one thing that stood out was a huge gap in understanding how to scale services effectively. 

Many tech entrepreneurs are fantastic at creating tech-enabled products but often struggle with the sales cycle, pricing, go-to-market (GTM) strategy, and, most importantly, turning those amazing services into standardized products which can be taken to larger audience.

We’re going to dive deep into how you can take those fantastic services of yours and transform them into products that are scalable, efficient, and profitable.

𝗪𝗵𝗮𝘁 𝘁𝗼 𝗘𝘅𝗽𝗲𝗰𝘁:

We will explore following topics which will give you a startup point on how to convert your services into a winning product. 

𝟭. 𝗪𝗵𝘆 𝗣𝗿𝗼𝗱𝘂𝗰𝘁𝗶𝘇𝗲? Understand benefits of converting services into products.

𝟮. 𝗨𝗻𝗱𝗲𝗿𝘀𝘁𝗮𝗻𝗱 𝗣𝗿𝗼𝗱𝘂𝗰𝘁𝗶𝘇𝗮𝘁𝗶𝗼𝗻: Know basics of converting services into products and why it matters.

𝟯. 𝗜𝗱𝗲𝗻𝘁𝗶𝗳𝘆𝗶𝗻𝗴 𝗖𝗼𝗿𝗲 𝗦𝗲𝗿𝘃𝗶𝗰𝗲𝘀: Understand what are monetizable services and the add-ons for the product.

𝟰. 𝗗𝗲𝘀𝗶𝗴𝗻𝗶𝗻𝗴 𝘁𝗵𝗲 𝗣𝗿𝗼𝗱𝘂𝗰𝘁: Convert baseline service into a product. Using packaging, branding, pitch to convert Intangible to Tangible product.

𝟱. 𝗣𝗿𝗶𝗰𝗶𝗻𝗴 𝗦𝘁𝗿𝗮𝘁𝗲𝗴𝗶𝗲𝘀: Right price for customers, pricing models and the neuroscience behind pricing.

𝟲. 𝗚𝗧𝗠 𝗦𝘁𝗿𝗮𝘁𝗲𝗴𝗶𝗲𝘀: A product or service is as good as the market perceives it to be.

𝟳. 𝗦𝗮𝗹𝗲𝘀 𝗖𝘆𝗰𝗹𝗲 𝗠𝗮𝗻𝗮𝗴𝗲𝗺𝗲𝗻𝘁: Sales cycle differs for a product and service. 

𝟴. 𝗖𝘂𝘀𝘁𝗼𝗺𝗲𝗿 𝗘𝘅𝗽𝗲𝗿𝗶𝗲𝗻𝗰𝗲: Standardized service demands standardized experience; Create right team and SOPs

𝟵. 𝗦𝗲𝗿𝘃𝗶𝗰𝗶𝗻𝗴 𝗡𝗲𝗲𝗱𝘀: Get ready to handle complaints and tickets.

𝟭𝟬. 𝗥𝗲𝗻𝗲𝘄𝗮𝗹𝘀 𝗮𝗻𝗱 𝗖𝗹𝗶𝗲𝗻𝘁 𝗥𝗲𝘁𝗲𝗻𝘁𝗶𝗼𝗻: Mechanisms for renewals and client retention. It is fruitless without 8 and 9 in place.

𝟭𝟭. 𝗦𝗰𝗮𝗹𝗶𝗻𝗴 𝗨𝗽: 1-10, 10-100, each stage needs different strategy / SOP and team skill.