How to Start a Service Business
Are you in the service business?
I’m talking a graphic designer, photographer, website developer, social media guru, attorney, interior decorator, etc etc etc?
Here are our favorite tips to grow your service business into a household name:
1. Start your company
If you’re operating a business without registering as an LLC or Corporation, you’re taking a big risk. Your personal assets can be taken to pay your business debts. That means you can lose your car, house, and bank account on a product injury, a bad business deal, or a freak accident. Is it likely? Probably not. Is it worth all that risk to save a few hundred bucks on registering? Definitely not. Register your company with the state and follow certain formalities, so only your company assets are at risk.
Youʼll start by completing the state paperwork to register your entity. First, you'll need to decide what kind of entity is the best fit for you.
2. Lock down your brand
A trademark allows you to own your brand. It means you're the only company who can use your company name, logo, slogan, domain name, personal name, product name, or hashtags. Here's why it's key: without it, you can be sued, forced to rebrand, or have your customers stolen by copycats.
Trademarks give you the exclusive rights to use the name nationally. So if someone else registers your trademark, they’ll own the rights to your name nationally. You'll only be able to use it in your geographic region (typically your city). That's not ideal!
Think about how many brand pieces feature your company name: your website, social media, business cards, products, marketing materials, press links, inventory, etc. If you want to operate nationally, you'll need to change all of that + pull back all inventory with the brand on it, or possibly pay monetary damages. You'll lose customers, money, and valuable momentum.
Bottom line: if you’re building a brand, you need to trademark it asap!
3. Protect your clients
If you’re working with clients, you’ll want to protect both sides with a contract. You should spell out the service details and solve the most common problems. You’ll make sure that you’re paid correctly + on time, that clients follow your cancellation policies, and that you can continue to use the work you created.