There’s no doubt about it. Selling services can be profitable … eventually.
But you have to wait a long time first.
That’s because the only people who get paid the big money for services are those who have really useful skills. And are exceptional at them.
No offence to gardeners, but a gardener typically earns less than an accountant. So if you want to be a gardener you can get going quickly, but you’re probably not going to get rich.
Problem is, it takes years to become an accountant. And then years more before you’ve got the skills to charge serious money.
Of course, by then you’ve got to have staff, offices and all those things you probably never wanted to do in the first place.
Catch – 22.
Besides, selling services is still selling your time for money. And that means you still have to work big hours to earn big money.
So what about selling products?
Now, the first thing with products is they’re incredibly scalable. Take Amazon for example. They can ship your goods for you which means it takes as much effort to sell 100 items as 1. Which is practically nothing.
Next, you can sell 24/7. You can’t be a very functional consultant at 3am … however when you’re selling products you can make a sale every hour of the night without even waking up.
The other thing is when you sell your services … YOU are the product. And you have to build yourself up from scratch.
On the other hand, when you sell products you tap into the features of the product you sell.
And the best thing about selling products is you get moving immediately. There’s none of this ‘serving your apprenticeship’ nonsense.
You can secure quality goods at a massive discount and start selling them right away. And because it’s your product (not you) which buyers want you compete on a level playing field with the big players immediately.
That’s why, whenever people ask if their home-based business should be selling products or services I tell them every time … “Products win hands down!”