Entrepreneurs with Innovative Spirit - Why Service Business Models Make Sense

The other day, I was talking with a small business entrepreneur who had been successful in a number of businesses in his life and always garnered a six-figure income. Today, he's looking for a new venture, something that would satisfy his entrepreneurial and innovative mindset. Okay so what sort of business might be wise for such a person in the present economic circumstances you ask?

Well, this is my question of the day too, and without further delay, let me explain what my first choice would be. I like service businesses because they are generally the last hit, and first to recover - and easily adaptable by modifying processes. Also the easiest to innovate or find additional niches - in other words, customers have needs, and if you can fulfill them and turn a profit, there are lots of needs to service which to me = nothing but growth, - if you can handle the rocket ship, and have a team in place that is of a "take no prisoners" based mentality, while maintaining absolute customer service.

Service businesses can grow faster, take less investment, and you don't have to sign a 10-year lease to get a building to do business in. These are some additional pluses. The challenge with entering a business where you sell a product is if you innovate too fast, you end up with massive amounts of unused inventory, or you have to make small batches and thus your per-unit cost goes up. Perhaps it is this dilemma that has most inventors selling their innovation, inventions, and concept to other companies who have a distribution chain set up and a marketing plan already in place.

Yes, Server Businesses are wonderful, and I can say this from experience. I always find it so very interesting that so many people don't think about service businesses when it comes to innovation - they should. And with that, I'd like you to sit back and think about this too. If you have something else to add, please contact me by email. Good day.