One of the biggest issues of small service businesses based on one person’s talents or expertise is just that the business leans on the talents and expertise of just one person. For product-based businesses, growing profits is comparatively easy such businesses can expand by exporting or opening more branches, just to give two examples. But if you have a service business, there are only so many hours per week you can work. Only raise your hourly or project rate so much before you price yourself right out of the market. Here we will discuss service business revenue models and profits:
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