Launching a service-based business is so appealing to entrepreneurial folk, because it is the easiest to start with no capital. Any qualified person can launch such a business simply by creating a website outlining their offerings and promoting it for free on social media. Unlike product-based companies who have to invest a ton of money into purchasing materials from vendors to create their items, manufacturing equipment, shipping supplies, and more.
So, are you finally ready to launch the service-based business of your dreams? Congratulations! You are probably so excited to spread the word about your company, build your customer base, and see what the future holds. In my 10+ years as a software developer and as the co-founder and Operating Partner of CiteMed, I have discovered some of the top problems that can hurt the progression of new service-based businesses.
Do take heed and avoid the following five blunders that are critical mistakes that could hinder your new venture from thriving in the long run.