Welcome to the final chapter in my Services Arbitrage free training series (how to sell services other people deliver).
If you have not read the previous posts, I recommend you go through them in this order:
- Introducing Services Arbitrage: The Perfect New Business For Non-Experts Looking For A Laptop Lifestyle Income Stream
- I Used To Live In A Caravan: Here’s How I Made Enough Money To Live Anywhere In The World
- 7 Steps To Launch A Passive Income Business Selling Services Online
Today in the final part in the series I’m going to explain some of the key elements that make a Services Arbitrage business work.
In particular, we are going to focus on answering a question you might have been thinking about as you read through this series…
Why will people choose to buy from your business, when they can source cheaper options by going direct to big outsourcing sites, which are full of low-cost contractors from all over the world?
This is an important question to address, so let’s look into it…
1. Premium Price For A Premium Service = Bigger Profit Margin
As I mentioned in the previous articles and videos in this series, you’re not building a services business that will compete on price.
You do not want to be the lowest cost provider because that’s a battle you can never win, plus lower prices result in attracting terrible clients. You will have no room to earn a profit margin, which is especially important if you want to pay yourself as well as your contractors.
Think of your Services Arbitrage business as a boutique agency. You deliver above average quality services to a select clientele who love and appreciate your services. You hire only the best contractors to keep service quality high, and you pay them well so they don’t leave you. You also go above and beyond when it comes to communication and support.
This focus on quality means you also charge more money — even as much as double or triple what other providers charge.
People happily pay the premium because they want a top service, that is reliable, consistent and hassle free. They don’t have to dig through contractor listings or go through comprehensive testing processes, only to end up hiring a person who does average work.
You provide quality and make life easier for them.
To make this work you MUST commit to this path. Stick to the process, find good contractors so your quality is higher than average and charge higher than average prices. Do not be tempted to lower your prices just to get a client.
2. Specialize Your Way To Dominance
Another key differentiator is specialization. You position your offer as something unique, targeting a specific need in the marketplace.
My business was not just another ‘editing service’, of which there are thousands available to choose from already. We specialized in essays and thesis written by students who were coming from English-as-a-second-language backgrounds. This meant most people did not even look at our service for editing, but if you were an international student studying at an English language university, our service appealed on a level no other editing service could compete with.
Your job over time is to learn about your market and refine your service into a specialization, and then make sure all your marketing materials reinforce this specialty.
This is another reason why you can charge more money and thus have room to make a profit margin. You’re a boutique supplier who specializes in delivering something very unique in the marketplace. They won’t find what you do elsewhere, hence you’re not really competing at all – you’ve carved yourself a unique standalone position in the industry.
3. Smarter Marketing
Another advantage you tap into is smarter marketing. The average contractor, freelancer and even some established agencies are not great at marketing.
The reason why so many service providers use the large outsourcing sites to attract customers is because they just don’t know how to market and sell their services themselves. Hence they try and compete against all the other contractors in these big marketplaces by lowering their prices until they make so little per job that they are forced to rush projects so they can take on enough to make a living.
That’s not a process you want to be a part of.
Instead, you’re going to learn and use the power of proven internet marketing strategies and techniques. Even simple things like good copywriting, compelling case studies and personalization, all presented on your website, can make a huge difference.
I invested my initial profits from my editing business into a complete review of my website. My copy was re-written by a professional, we added an email list, compiled a huge list of testimonials and did many other things that made my website a powerful tool for sales.
It takes work, but smarter marketing is a powerful tool that most people are too lazy, or not aware of, to use. That won’t be you because you’re learning from me. I’m giving you the marketing know-how, all you have to do is not be lazy and use it!
I’d Like To Help You Build Your Services Arbitrage Business
I’ve laid out what I think you will agree is a very clear system to launch a business selling services other people deliver.
Of course, there’s work involved, but compared to most home-based business opportunities I don’t think you will find many as easy to start as this.
To further support you, I am teaching a brand new Services Arbitrage course, but only if you are a member of my Laptop Lifestyle Academy.
The course includes over three hours of training modules from me, two live group coaching Q&A webinars , an action-plan handout, plus four bonus case study interviews.
To join the Academy and get access to the Services Arbitrage course, sign up here:
I’ve released all the resources in the Services Arbitrage course as digital downloads, so as long as you are an Academy member you have access to all the content in videos, audio mp3s, pdf text transcripts, and handouts.
More Than Just A Course
The Laptop Lifestyle Academy is the center of all the training and coaching I offer.
When you join to get access to the new Services Arbitrage course, you receive a whole lot more, including:
- Access to a thriving community of people just like you, working to build Laptop Lifestyle income streams using the internet
- Support from mentors, people who are already making full-time incomes and much more online
- Access to a huge training library, including programs on how to get traffic, how to make sales with your writing, product launches, blogging, podcasting, social media marketing, finding profitable topics, productivity, delivering digital products, and so much more
- Every new training course I create for the Academy throughout the year – Services Arbitrage is the first new program for the year, there are more to come
- Connect directly with me via the members-only Slack chat, attend in-person meetups, and nominate yourself for an intense ‘hot seat’ coaching session, focused entirely on you and your business
I am really excited to teach you this new Services Arbitrage course, but I think you will see, when you join us in the Laptop Lifestyle Academy, you’re becoming part of something very special.
You’re dedicating yourself to the path that leads to freedom by building your own Laptop Lifestyle business.
I recommend you head straight to this page to learn more about the course and the Academy, then join us:
I’ll see you inside the Academy,
Living The Laptop Lifestyle