#52: Scaling a Service Based Business with Abagail Pumphrey and Emylee Williams

“If the goal is for this to be your full-time income, plus potentially the opportunity for you to scale and eventually move away from delivering the service yourself, it requires you to have an in-depth knowledge of what is needed to sustain your life and lifestyle and grow the kind of business that you want to grow,” explains Abagail Pumphrey. Abagail and Emylee are the co-founders and co-CEOs of Boss Project and the hosts of the chart-topping podcast The Strategy Hour. Together they have helped over 10,000 small business owners grow profitable and sustainable businesses. Today, Abagail and Emylee share their tips for scaling a service-based business.

A service-based business model is one of the most profitable businesses because there is a lot less upfront cost to get started. This model is very accessible to begin with, but owners still need to be very clear on their long-term goals and have strong boundaries in place in order to scale successfully. One common mistake is undercharging for services and essentially doing a bunch of work for free. It’s important to have a good understanding of the numbers and set appropriate rates if the goal is to generate a full-time income.

In order to successfully run and scale a service-based business, you have to be really clear on what your long-term goals are, not only for the business itself but also for your personal life. Build your business around your desired life, rather than trying to fit in your life around the business.

Quotes

“Every time I prioritize holding my boundaries, protecting my creative space, honoring how I want to show up for work and be a leader, and work with my team, every time I prioritize space there and openness and creativeness, we win.” (3:51-4:09 | Emylee)
“If the goal is for this to be your full-time income, plus potentially the opportunity for you to scale and eventually move away from delivering the service yourself, it requires you to have a in-depth knowledge of what is needed to sustain your life and lifestyle and grow the kind of business that you want to grow.” (10:31-10:53 | Abagail)
“Service-based business owners don't think of how many consequences come from what you're priced at.” (12:15-12:20 | Emylee)
“Just cause you're making money doesn't mean you're not working for free.” (14:05-14:07 | Emylee)
“If I am really aware of what I want my personal life to look like, then I can design a business around my life.” (25:16-25:24 | Abagail)

Links

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Connect with Abagail Pumphrey & Emylee Williams:

Instagram: https://www.instagram.com/bossproject/

Facebook: https://www.facebook.com/groups/thinkcreativecollective/

Pinterest: https://www.pinterest.com/bossprojecthq/_saved/

YouTube: https://www.youtube.com/bossprojectchannel

Website: https://bossproject.com

Podcast: https://podcasts.apple.com/us/podcast/the-strategy-hour-podcast-online-business-blogging/id1186889023