Jean L. Serio

Business to business services are, without question, one of the hottest markets today. With thousands of excited entrepreneurs starting up new businesses daily, the need for services is growing by leaps and bounds. That said - is the service niche market right for you?

Why is this niche growing so rapidly?

More than ever before, new business owners are seeking out services ranging from web designers, freelance writers to help with content for their sites, to branding and marketing experts and business coashes.

This new breed of entrepreneur realizes, while they're highly experienced in a particular industry - which can take them far - it's not far enough in today's competitive marketplace. They clearly know their limitations and are hiring consultants and freelancers who'll teach them what they need to know. Or pay them handsomely to do it for them.

Today's new entrepreneurs want consultants to:

- Teach them marketing and advertising strategies to help bring customers and brand their business.

- Review anything from business strategies to the set-up of the business, hiring practices, business plans and dozens of other essential business scenarios. To make suggestions for new services and products; how to develop buying and manufacturing plans; how to apply for and get loans and grants, for instance.

- To develop specific strategies to help expand business and propel it to more profitable levels.

Plus, they're hiring coaches to encourage and mentor them for success. Paying good money to join executive groups organized by on-line gurus and offline coaches who regularly meet by phone, or in person, to discuss such things as success mindsets, marketing, Internet business, and a host of other itant subjects.

Business to business services is such a hot market, in fact, individuals with specialized experience are leaving good jobs, starting up and operating service-oriented businesses from home. And providing these services, either on or off-line, at competitive prices.

Advantages of Service Businesses:

If you're considering a service oriented business, one of the biggest advantages is almost every business in existence needs a service of one type or another. And there are hundreds of types of services available. Service businesses can be started up with minimal capital and equipment, and low overhead. Most expenses tax deductible.

Interestingly, today service businesses are showing a greater ability to thrive and grow. Even during economic downturns, which might quickly put retailers and others out of business. Plus, many service businesses allow for mobility, allowing owners to visit clients where and when they choose. Some even regularly traveling with clients; expenses added to the clients bill.

Business to Business Services: The Internet is changing our world. Not only us, personally, but the culture of business, how we provide products and services; even how we organize and execute business plans. It's forcing stodgy conglomerates, companies who previously made the rules, to make changes to keep up with this new, "changing-by-the-minute" world.

Along with these changes, comes the opportunity to develop new services and products to meet these new business needs. Which is far easier and much less expensive for smaller service-oriented businesses.

For instance, right now there is a wide variety of services one small business can offer small, medium, and even larger business: * organize offices, buy furniture and decorate * order products and papergoods * organize necessary services * research and make presentations regarding purchase of fixed assets like equipment and company vehicles * design and host websites * develop unique advertising campaigns for small businesses * develop products, packaging, catalogs * be a virtual assistant taking care of those small but necessary business details * setting up offices for start-ups, just to name a few.

Many services are designed to free a business owner to spend time on more important projects, like sales, advertising, product development. Others are designed to provide business owners with the strategies, information and plans they need to be more flexible, competitive and successful. And this is just to start. As Internet, cultural and business changes develop and become the rule, rather than the exception, with those come new jobs, services and other businesses to support them. And many of these business to business services can easily be set up at home, with minimal equipment, little overhead, and high profit.

Consultants:

Right now, consultants and trainers are at their peak. With more and more businesses hiring them to help create everything from a better business environment, to determining locations for a secondary business. Again, those with solid specialized experience are the types that fare the best.

To start, consultants should develop a profile of clients they want to work with. Then determine the following -

1) How many others, in your market, are offering this type of consulting? What fees are they charging? What's included? Is the market saturated?

2) What's the market for your specialty? Even with competition there must be enough customers to go around. Is there any available financial information telling you how much clients will pay for this service?

3) Can your market eventually be expanded?

4) What other services can you offer to a wider audience?

5) What are the primary ways your competition markets and advertises their services? What's the cost? Can you afford the cost?

6) Are there laws or regulations that would affect your services? What are they? Too many could create problems too great for a smaller business to overcome.

There are thousands of types of consultants, hundreds in one category. When deciding what type of consultant you'll be, drill down to a niche that covers specific areas. With some research, perhaps you'll discover a little served niche. Or, by combining two areas you specialize in, you can develop a niche not currently served. Sit down, think seriously, and determine your niche, and develop your vision for it's future.

Freelance / Independent or Sub-Contactors / Virtual Assistants

Freelancers or independent contractors are individuals who do what a hired employee might do. The difference is, instead of working and being paid by the hour, they're paid a pre-set amount for a project, usually to be completed in a specific amount of time.

Many virtual assistants work from home, for clients they've gathered from the Internet. Some are generalists, doing a variety of work; others specialize, completing projects in their area of expertise, you've assigned them. For information about hiring one, contact the International Virtual Assistants Association at www.ivaa.org

Advantages: fees paid for projects are usually considerably more than those paid by the hour. You have the freedom to make your own work schedule. And very importantly, you're able to gain experience in a variety of job situations, without the need for commitment.

Disadvantages: Businesses aren't required to offer benefits like vacation, retirement, medical insurance, overtime pay. Nor are they required to deduct taxes from your check, you must keep track of your own. You may not be paid until the project or work is completed and reviewed.

Sub-contractors are frequently hired by the independent contractor to do a portion of the work contracted. In that case, the independent contractor is responsible for paying each individual they sub-contract work to. Also, there are no benefits or tax deductions.

Internet consulting or services:

Internet consulting and services are booming. With more and more individuals with specialized business experience offering their services and products on the net.

Even accountants, bankers, writers, animal handlers, fitness trainers, doctors --who in the past only met personally with clients - are now setting up websites, offering some services online. The field is wide open to those in specialized fields.

Advantages: The main advantage is not having to travel or set up an office in a commercial location. Most can be set up at home, with minimal overhead, and little but necessary equipment. Plus, your assured of payment, since you can set up companies like Paypal to deduct payments from a client's credit or debit card accounts. You have more free time to develop other valuable products and services to add to the original. Or others that require regular reordering, creating another stream of income.

Disadvantages: Because the Internet is littered with millions of sites, it can take some time to get your name out there; to become known for your specialty. Also, when selling information, services and products on-line, customers usually don't see or talk personally with you. With no personal connection, customer's can become nervous about buying. They have little, or no way, to judge you or the product before they buy. Today's customers are more skeptical than ever with identity theft rampant. Can you blame them? Realize and accept that it will take time to build credibility. But don't let it stop you. Work diligently at building a high level of credibility and you'll quickly build your business.

Some final thoughts:

Selling services on, or off-line, can be exciting and profitable. But before you quit your day job, do your research. Determine what type of individual client you want to appeal to. Once that's done, thoroughly check out the market to make sure there's ample clients to go around. Discover who and where your competition is, how much they're charging and where they advertise. Do these very important things and you'll start out with a solid foundation so necessary for success in today's competitive marketplace.

Jean L. Serio, Copyright 2007. Are you one of the 1.2 million women tired of working the 9-5 grind, sick of worrying about making ends meet? Starting your own business still remains one of the best strategies for providing you financial freedom. Discover how to start your business today with your own simple, step-by-step Action Plan. And how you can harness the power of other successful women plus get hundreds of resources you need to start up. First sign up for your Free Newsletter "Start Up A Business Today". Go to: www.womensmarketingandbusinessnetwork.com "We help you make it happen!"

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