A Better Way To Think About Productized Services

Summary

The video discusses how service providers can make their businesses more productized to achieve greater efficiency, predictability, and scalability. It explains productization as a continuum rather than binary, with pure service on one end and pure product on the other. The presenter argues creative agencies should identify where on this continuum they want their business to sit based on their goals and then systematize processes accordingly, whether that involves more or less customization. The key is to have a repeatable process, even if output and client experience differs.

Takeaways

• 😀 Most marketing and creative agencies struggle with unpredictable income and endless revisions from clients
• 👉 The concept of 'productizing' your service has become very popular to address these issues
• 🤔 Many creative professionals believe productizing is not possible for the type of customized work they provide
• 💡 Instead of a black-and-white view of services vs products, think of productization as a continuum
• 🔍 On one end you have pure services: work without a standardized process
• 😊 In the middle, you have productized services: work with a repeatable process
• 📦 On the other end you have pure products: a process without custom work for each client
• 🤝 Your business can land anywhere on that continuum based on your goals and preferences
• ✏️ Identifying your process is the starting point to systematizing your service offerings
• 📈 The level of productization impacts scalability, efficiency and capacity to serve more clients

Q & A

What are some common challenges creative agencies and service providers face?

The script mentions some common challenges like custom projects, endless revisions, unpredictable income, and the business revolving around the founder.

What is meant by 'productizing' a service?

Productizing a service means making it more standardized, systematic, and leveraging processes so it becomes more scalable like a product.

What are some examples of productized services?

The script gives examples like DesignPickle's flat monthly fee for unlimited design requests, and Brett from DesignJoy who delivers creative services in a productized way to each client.

How can you determine where you want to be on the service-product continuum?

It depends on factors like how involved you want to be in client interactions, the efficiency and leverage you want in delivery, and lifestyle preferences around business scalability.

What are the key differences between services, productized services, and products?

Services are work without a process. Productized services are work with a process. Products are process without work.

What should you identify first when productizing your service?

You should first identify your existing process for delivering your service.

Why is productizing services a continuum rather than black-and-white?

There are many valid places on the continuum depending on preferences around customization, client interaction, efficiency vs lifestyle, etc.

What ingredients help in moving towards productization?

Ingredients like systematization, leverage, efficiency improvements that help deliver with less founder involvement.

Can different providers end up with very different productized services?

Yes, based on their goals and values they could productize the same service very differently.

Where can you learn about systematizing your business processes?

The script recommends checking out the provided video for guidance on systematizing your processes.