How to Turn a Service Into a Product, to a New Business Model

If you want to change the world and get rich doing it, an excellent place to start is to look at some of the people who have already managed it. It ultimately lets you create things that you just wouldnít be able to create on your own.

Turn a service into a product

One of the best examples of that is Matt Mullenweg. Mullenweg is the creator of WordPress, which in turn is a tool that you use to build websites. The great thing about WordPress is how easy it is, as well as how flexible and customizable it is.

But what’s interesting about Mullenweg’s success is how he turned a service into a product, creating a groundbreaking business model. If you want to follow in his footsteps, here’s how.

With WordPress now dominating 25% of the internet, it’s clear that their business model of taking a commission from web developers who sell themes or plugins built on their service has been wildly successful. This has resulted in the financial security of its creator, Matt Mullenweg. However, the question remains: Can you replicate this same business model for your own success?

Productizing Services

The idea behind WordPress was remarkably simple: Matt was looking to put himself out of work. What he did here was to productize a service, meaning that he would replace the web design service he provided with a tool that cold do it for him.
This is how a huge number of SAS businesses are born. SAS is Software As Service and it basically means that you wrote a piece of software often B2B that will provide an important service to the end user.

By productizing a service, you are essentially creating a tool or software that can automate a service you once provided manually. This can be a game-changer for your business, as it allows you to scale and grow in ways that were once impossible. Many successful SAS businesses have been born from this concept, as it allows for the creation of software that provides important services to end-users, often in a B2B setting.

The key to successfully productizing a service is to identify the pain points of your customers and find ways to automate or streamline the process. This not only saves time and money for your customers, but it also allows you to create a more efficient and profitable business model.

So, if you’re looking to create a groundbreaking business model like Matt Mullenweg did with WordPress, consider productizing your services and leveraging the power of automation to take your business to the next level.

Another example of this might be a fitness app that trains the user. This has taken a service usually provided by an individual (a personal trainer) and turned it into an app that can be run on the phone

Why SAS?

The advantage of SAS is the convenience that it offers the user as well as the scalability it offers you. Imagine trying to build 25% of the world’s websites ñ the number of man-hours and admin it would take would be extraordinary. But with a piece of software that builds websites? It becomes possible. And the profit you can get from that becomes possible.

By turning a service into a product, you are essentially creating a more convenient and scalable solution for your customers. Take the fitness app example – instead of having to schedule appointments with a personal trainer and physically go to a gym, users can simply download an app and access personalized training sessions from the comfort of their own homes. This not only saves time and money for the user, but it also allows for scalability and potential for profit for the app creator.

SAS is a powerful tool for businesses looking to automate and streamline their services. The convenience it offers to users, along with the scalability it offers to businesses, makes it an attractive option for many industries. Building a piece of software that can do what you do for a living can be a game-changer for your business, allowing you to reach a wider audience and increase your profits.

It’s important to consider whether your service can be turned into a product through SAS. By doing so, you can create a more efficient and convenient solution for your customers while also increasing the scalability and potential for profit for your business. Don’t wait for someone else to invent it – take the initiative and turn your service into a product today.

So now it is time to ask yourself: can you turn the service you provide into a product? Could a program do what you do for a living? Make sure you invent it before someone else does!