Outline
Introduction – Smart Revenue Means
If you’re running a residential service business, here’s a simple truth: not all revenue is good revenue. Some specialty services are profit goldmines, while others are just… busy work that drains your time and your team. In this article, we cut through the noise and shows you how to be strategic—by focusing on fewer, more profitable offerings that benefit your customers and your bottom line. It’s not about doing more. It’s about doing what works best.
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Specialty Services Examples
Each trade has their own targeted diversification options to build on beyond the basic expected service. As we will see below, each contractor should pick the right match for their business model. Here are some references of options in general.
Why More Diversification Is Not Always Better
Strategic Specialty Services Benefit You
NEWS FLASH! Some dollars are MUCH more profitable than others! That’s right, folks, not all revenue is created equal!
Some residential services are like a gold mine,💲 while others… are a frivolous, money-losing waste of time!😥
So, you ask, “How can I make more dough without baking more bread?” Steve’s secret sauce? Be picky about what services you offer. Focus on the Additional Service Options that give you the most bang for your buck. This means…
SELL LESS to make more PROFITS! In other words…
Please don’t bombard the homeowner with 50 different services and 100 products. (Measure all your existing and potential services against my Diversification Checklist for residential service contractors.)
Strategic Specialty Services Benefit Customers
Here’s some downsides of the traditional “offer everything but the kitchen sink” sales tactic…
1) A turn-off for overwhelmed homeowners. Your clients have probably been bamboozled before by a bait-and-switch residential services company, and too many “upsell” options can make them feel high-pressured.
WOW! How did this nasty phrase “upsell” sneak in here? As you may have guessed, I truly hate and despise “upselling”! True, there is nothing wrong in gently giving your client the opportunity to spend more money with you. But “upselling” conjures up a vision of a pushy salesperson high-pressuring a hapless residential client in the Inner Sanctum of their home! Disgusting!😡
2) Say hello to the “spoilage factor”. Cruising around in a hot, bouncy van all day can really take a toll on your display items. Very quickly a good chunk of your inventory might end up in YOUR trash can! 🗑️
3) Onsite production workers hate selling. Most (often young and intimidated) frontline workers aren’t natural-born salespeople. (After all, they ARE working for you, right?)🙄 Plus, since you normally over-book your exhausted employees (another big no-no that we need to talk about) offering a gazillion options will put your staff even further behind! The result? Your workers just give up and offer… NADA!🫢
Improve Cash Flow By Curating Your Additional Services
So, really dig into where your company strikes gold! What additional services or products are a win-win for you and the homeowner? Here’s a few bright ideas to get you started:
A) “Additional Service Options”– Offer 20% off on your most profitable optional specialty services IF they’re performed while you’re there on the job. You’re already on site, so the saved travel and set-up time plus no extra fuel cost will more than justify this generous discount.
NOTE: Be sure to generously reward your front-line workers when they book these highly profitable Additional Service Options!💖
B) Close more callers at higher prices– More jobs booked at bigger invoices? GREAT but how, Steve?😮 1) Recognize the challenges you face with a 1st time caller HERE! 2) Then learn now to win over a so-called “Price Shopper” HERE. Finally, check out our phone scripts and systems to make it happen HERE!😎
C) Prepaid residential maintenance plans- What can you maintain and/or repair in exchange for a modest monthly amount? HINT: Specify automatic ACH payments to reduce your collection expenses to almost zero!👍
Once homeowners get the hang of this “Pre-paid maintenance service agreement” concept, they often fall head over heels in love with it. And the very best part? Your accountant (and you) will be doing a happy dance thanks to the steady cash flow from the automatic monthly payments! 💃💲🎊❤️🎉🎈
Summary – Smart Diversification is Bliss
Instead of stretching yourself thin offering every service under the sun, zero in on what’s truly profitable and deliver it with excellence. Your customers will appreciate the clarity, your team will breathe easier, and your business will enjoy better margins with less stress. Remember, smart diversification isn’t about more stuff—it’s about more profit per job.