What Do Bakers Know that Your Services Firm Should Adopt?

knowledge and expertise a your ingredients

What’s the difference between a cupcake, a layer cake and a wedding cake? They all use the same basic raw ingredients and have a similar texture and taste.

The difference is in the knowledge and expertise it takes to produce them. Anyone who can follow a recipe can make a cupcake. One needs a bit more understanding of baking techniques to make a layer cake that looks good enough to eat. A spectacular wedding cake requires years of practice and skill building to turn a wedding couple’s dream into the stunning centerpiece of a wedding table.

I like the analogy of baking because it’s so simple and clear. There are raw ingredients; the right baking techniques; and-ta-da! –the result. The difference is that more elaborate the results, the more knowledge and expertise is required.

Services companies have their raw ingredients and subject them to various skills and techniques to produce results for clients. The more knowledge and expertise required, the higher value the results.

There is always a relationship between the raw materials, the application of knowledge and expertise and the revenue generated.

 

how we help business owners

 

 

We reflect these relationships in the Growth and Opportunity Curve. I’m referencing the GO CURVE for Trivers Consulting Group (TCG), to help you imagine how your company could connect raw materials, knowledge and expertise, and revenue.

Common offerings for Testers: The cupcake equivalent are packages comprised of pieces of knowledge and expertise assembled into easy-to-buy products: books, workbooks, online courses, webinars, and videos. The buyer gets a great taste of the company.

TCG’s cupcake equivalents range from my book Tinker, to our fixed price Think Tank session, to our Bullseye Marketing packages. You see Bullseye Marketing is on the cusp between Common and Uncommon. That indicates that we include some customization into a pre-designed program.

What are your company’s cupcake equivalents? What books, webinars or other pre-assembled offerings do you sell? What new ones can you create? Are any of them stale and ready to be discontinued?

Uncommon offerings for Regulars. Layer cakes require more knowledge and expertise; there’s more variety and customization. Many buyers will buy cakes again and again. They’ll try different flavors and designs and recommend the baker to others.

Uncommon offerings allow your company to get paid for more knowledge and expertise.

TCG’s layer cake equivalents require more advanced and extensive knowledge and expertise, meet a variety of buyer needs, and include some customization. For example, our Money Matters Cash Flow analysis is effective because we bring to bear our years of experience working with private services companies. We know what we should see, what we often actually see, and how to improve each company. We call this a layer cake equivalent because there are boundaries around what is included.

What are your layer cake equivalents? What combination of pre-packaged plus customization do you offer to your clients?

An Exceptional Offering for an Enthusiastic Fan: The Wedding Cake. Here’s where you dive deep into your reservoir of knowledge and expertise. This is just like a baker pouring all their knowledge and expertise into the creation of a wedding cake.

Your Exceptional offerings make an exceptional difference to your buyers. They fulfill visions, are memorable for years to come, and create an intense feeling of enthusiasm for your company. They are always completely customized, and the fee is commensurate with the value to the buyer.

Our Comprehensive Growth Methodology supports the owner’s highest goals for 1-5 years. We draw upon all of our knowledge and expertise in the three functional areas and go deep to uncover trapped opportunities.

What is your company’s wedding cake equivalent? How do you draw from your deep, deep well and generate amazing outcomes for your clients? What do you offer that transforms them and leaves them forever changed for the better? And they are always offered for a fee commensurate with the value to the buyer.

The time is ALWAYS right to analyze the products and services your company is putting in the marketplace. And to make changes based on your analysis.

Don’t sell only cupcakes and don’t avoid wedding cakes. Services companies are among the luckiest in the world-they can invent and create anything that their buyers want and need, pretty much upon demand. Please do this. The world needs your knowlege and expertise!

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