Should you Start a Product or Service Company? - Startup Ideas - 001

From a former CEO. What company should I start? Product companies vs. Service companies. Learn how to start and grow a company - subscribe to my channel!
**My GET HIRED Course**
the-companies-expert-academy....
(More Details: • Details on my *Get Hir... )
**My $100 MBA Course**
thecompaniesexpertacademy.thi...
(More Details: • Self Improvement: How... )
**My WRITE LIKE A PROFESSIONAL Course**
thecompaniesexpert.podia.com/
(More Details: • CEO Shares his Tips: ... )
My GET HIRED Series of Videos:
• Get Hired
My Other KZbin Channel:
/ @thecompaniesexpert2
My Patreon:
/ thecompaniesexpert
Consulting Services for Business Clients:
www.TheCompaniesExpert.com
My Twitter:
/ companiesexpert
My Facebook Page:
TheCompaniesExpert
My "GET HIRED" Facebook Group:
/ gethiredthecompaniesex...
My "ENTREPRENEUR SUCCESS" Facebook Group:
/ 2477916579200306
This is the first video in my weekly series called "Startup Ideas". It is an entrepreneurship course online, in small bite size pieces. In this startup school, I will be exploring how to start a business, how to lead it to success, various entrepreneurship ideas, the entrepreneur mindset, and generally how to be an entrepreneur. The big questions I seek to answer is how to start a business with no money and how to succeed as an entrepreneur. Please see the other videos in my "Entrepreneurship" and "Business Topics" playlists for more tips. To learn the most effective tips to start and grow a company, subscribe to my channel!
Product vs service companies - two types of company, but which is better to start? They both have their strengths and weaknesses. Generally, speaking though, for an entrepreneur, wanting to start a startup company, service companies offer several advantages. In terms of capital intensity, they are easier to start, and can allow you to compete directly with large competitors that may have the same offering, or one that is similar. Whether to offer products vs services is a key decision in to how position your startup strategically.
I will also be covering how to be a successful entrepreneur, how start a business plan, how to succeed in entrepreneurship, how to succeed in business, and giving general entrepreneur tips.
Read more about entrepreneurship: en.wikipedia.org/wiki/Entrepr...
The Companies Expert:
There is a big difference between what you learn in business school, and what you need to know in the real world - just ask any startup founder or business owner! My goal is to focus on the real-world aspects of business, giving practical tips and tricks that are not usually covered in school.
This channel is a platform to help entrepreneurs and business owners succeed. It is also to help the world at large to be more effective and successful. The world can certainly use more inspiring leaders, more successful entrepreneurs, and more capable managers - that is what I would like to help bring about.
Who Am I?
I am a business coach, practicing management consultant, former CEO, and entrepreneur. I have led many businesses to success, as well as several startups. Among other things, I have an engineering degree, a master's degree in finance, and a master black belt in lean six sigma.
I have worked across five industries, and have worked in both large enterprise and small businesses. In the last five years, I have also been mentoring startup founders and teaching business at a post-graduate level.
Why I Want To Involve My Community:
The only way this channel will succeed is with YOUR help. In order to know how best to proceed, I need constant feedback from YOU. What topics should I cover? What challenges are you facing? What questions do you have? What changes should I make?
Please contact me with questions, and I will try my best to help. Best of luck!
Thank you for being here and reading this, and have yourself an amazing day!
-Bill "The Companies Expert"
#startup
#startupwithnomoney
#startupideas
(Please note: I own the copyright to all music contained in this video, and can provide verification upon request.)

[@TheCompaniesExpert]

My "Entrepreneur Success" Playlist: kzbin.info/aero/PLO4kDC0EWkeBm2xHFgc-OAbsgBctpQ5Ru

[@KlaasVictor]

Start with a service company, and once you have capital and experience, start a product company. 🙂 Great video, thank you!

[@frosty3579]

I have learned more from this channel than I ever did in business school 👍

[@ShreksSpliff]

Product as a service has to be my favourite, which is probably why software scaling is so good.

[@badisamoune3893]

You're awesome too, I was really in a dilemma on this one as I have a product that I can produce a service with it or rather manufacture a volume of it and sell it to people.

[@oz5637]

I am at a stage where i am exploring what my offering should be and the important factor seems “what can i successfully sell?” Whether jobs or products or services, there is competition everywhere and thats the biggest challenge. Selling seems to be the number 1 skill to me which everyone needs to learn whther a professional or trader or service provider.

[@godbless_rohit4713]

Thank You so much sir it was soo helpful :)

[@TheCompaniesExpert]

You're most welcome, Explicitely - very kind of you

[@mre.smataruka4928]

I'm an architect who's planning to start an architectural studio and work for myself, simultaneously I've been looking into furniture business, specifically epoxy resin products. I live in South Africa and haven't looked very well into the epoxy furniture markets. Could you do a video on how to juggle services and products businesses starting up. I was thinking that one business would definitely kickoff and eventually pier the other one. But clearly I still have a lot to know and it will be very helpful if you reply letting me know your thoughts. My question being, "is my goal farfetched", how do i execute this folk plan successfully?

[@CamilleTylerbrand]

YESYES

[@TheCompaniesExpert]

😀

[@kmacm6529]

Service based company

[@jeewssam8418]

I think product companies are better if you have the capital, the potential to make money is better in products. But services are better for a low cost entrepreneur but low cost to entry means more competition, means less profit margins

[@TheCompaniesExpert]

Thanks for watching, Jeews. Cheers!

[@jayrichh1265]

Service company.

[@TheCompaniesExpert]

Yes, there are definitely some advantages there.

[@mohamedabdelkarim6527]

I prefer product company but the cost always stops me