The Power Of Productized Services
Introducing an eye-opening episode of "The Business Lunch Podcast" with your hosts Roland Frasier and Ryan Deiss. Join us as we take you through the captivating world of productized services – a concept that's making waves in various industries.
In this episode, we unravel the transformative power of turning a traditional product into a productized service. Traditionally, businesses focused on transitioning from service to product, but what if there's an untapped opportunity in shifting the other way around?
Roland and Ryan discuss the immense potential of productized services. The concept revolves around providing a standardized set of services with fixed completion times and costs, catering to the majority of clients' needs. This approach not only facilitates scalability but also boosts efficiency by eliminating the need for specialized knowledge.
Don't miss out on this eye-opening discussion on the evolving landscape of business, where the productized service concept is breathing new life into traditional models. Tune in to this episode and unlock the potential for growth, efficiency, and innovation in your business.
HIGHLIGHTS
"Traditionally, when you think about productized services, you think about going from a service to a product. I think there's a phenomenal opportunity right now to go from a product to a productized service."
"Conversion rates are typically higher, sales cycles are typically shorter, for every reason you should do this."
"We realized that maybe we should just give the people what they want. And this tells me that plenty of other people aren't doing it either."
TIMESTAMPS
00:00: Introduction
03:55: Productizing Services
09:37: Agency Businesses
14:36: Brand Focus
19.15: Profitability and Scalability
24:00: Bespoke Services
28:18: Acquisitions
CONNECT
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Roland Frasier is co-founder and principal of three current Inc. Magazine fastest-growing companies and he has founded, scaled, or sold 24 different 7 to 9 figure businesses ranging from consumer products to industrial machine manufacturing companies with adjusted sales ranging from $3 million to $337 million.
Currently growing Scalable.co,...
