Whether you own a services firm or are thinking of starting one, you are contributing to at least 13 percent of U.S. GDP.
That was the professional and business services’ share in 2019, according to Deloitte, and this sector is still growing. If you are among the many thousands of professionals who ply a craft or skill, be it legal, accounting, advising, design services, programing, data management or any from a long list of necessary business services, and you’re thinking about starting a services firm, the moment that decision gets made, you become a business-person in addition to being a crafts-person.
Becoming a successful business-person and running a successful services firm associated to a craft is a challenge for many because the business aspects can be seen as an anchor to the craft. Many crafts-people just want to design beautiful homes, write code, help clients with legal matters, create award-winning user interfaces, and so on. Running successful services firms doesn’t mean the crafts-people have to run away from their craft to be successful. But they do have to embrace, understand, and get good at the business-person side of it, or they will end up working for someone else who has figured it out.
Joining us for our discussion on Growing A Service Businesses is Ryan Frederick who is on the phone from his Ohio office. Ryan Frederick is a Founder and Product person at heart. He has had the privilege of being part of starting and growing software and service companies. He has helped companies grow from inception, to viability, through to sustainability. Ryan combines a unique blend of business acumen and tech knowledge. His latest book is the Sell Naked: And Other Advice For Growing And Managing Services Firms. Welcome Back to Mastering Your Money, Ryan Frederick.