Looking To 2020: Service Mix

  • Category: Running Your Business

I’ll be signing off on new posts until next year, but I wanted to leave you with the final installment of three ideas to consider going into 2020: your service and product mix.

Your service and product mix has likely evolved over time—and over many client interactions. It’s good practice to review your offerings and revenue mix at least annually.

Here are some strategic questions as you consider whether changes might be warranted:

What service or product line is your biggest revenue generator? Is it due to a “whale” client (or two) or evenly distributed across an array of buyers? How sustainable is this revenue?

How much of your revenue depends on services you provide yourself vs. leveraged services and products? How would more leverage change how you work as well as your bottom line?

How can you “harden” your services and products to avoid big revenue swings while building the steady consistent growth that permits confident investing in your future?

What changes in your service and product mix do you need to do more of what you love while building repeatable revenue?

It’s no accident that leverage and positioning play a major role in your product and service mix, not to mention your bottom line. The key is to optimize for the business and life you most want to build.

Wishing you the merriest of holidays and happiest of New Years!