The approach to crafting a profitable home service business is based on four critical elements (collectively called the "service model")
- The Offering
- The Funding(payments) Mechanism
- The Employee/Team Management System
- The Customer Management System
Any of these 4 elements—the offering or its funding mechanism, the employee/team management system or the customer management system—can be the undoing of a service business. The proof is in the 1000's of service companies that have struggled over the past decade.
However, there is no "right" way to combine the elements. The appropriate design of any one of them depends upon the other three.
To summarize this approach, we work with the home services professionals to deliver a profitable business. This excerpt was originally published in The Four Things a Service Business Must Get Right, HBR.