Service or Product?

Neel Patel
48 replies
What business would you choose? We talked about it here in detail: https://youtu.be/6130FfDWXOI?si=vSBZyRW5adrQyPMV

Replies

AuroraW
I’d choose a product business. Once established, a product can reach a wide audience with minimal ongoing effort, making it easier to automate and sustain.
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Abhishek Dutta
Service and the Product.
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Daniel Burns
We like to say, 'Why not both?' 🤷😂 We're a product-based company that also offers services, including ongoing support and maintenance.
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Elena Tsemirava
Product: higher margins
Toni
Products for the long run And I start with service to get some cash-flow until my SaaS 🚀🚀
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Neha
I will go with the product
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Jai from Worksaga
Hansei
Hansei
Launching soon!
Depends on the idea you are selling either product or service; should be appealing to the end users
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Raymond Yeh
Always leaning towards product due to the ability to scale. But starting out with product is really hard as many people want to see successful use cases, case studies, etc. I found a done-for-you (DFY) approach a good way to solve the cold-start problem so I've been manually onboarding new users and setting up consultation work with some clients (which includes them using my product). So far I've secured 3 different clients this way through the consultation method. I know it doesn't scale but it beats having 0 clients... So I guess a mix is good at least for the start.
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Neel Patel
@raymond_yeh You said it so well! We talked about it here if you want to check out : https://youtu.be/6130FfDWXOI?si=...
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Steffen Schulz
Always Product, that's why I built varify.io
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Alexander Galitsky
Product-based service
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Janice
Products, include standard and customized products
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Domas Sakavickas
I will choose a product. If you have a good and unique product, most of the time it works for you. With service, in my experience, there is always more competition to beat
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Patricia Harris
Both are important, but I'd say for most businesses, focus on developing a great product first. Then leverage that to offer related services around the product to expand revenue streams. Many successful companies have grown this way, starting product-focused and expanding with value-add services over time as their customer base grows. Just my 2 cents!
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James Chappel
I personally lean towards services. They adapt to my needs and offer a level of personalization that products sometimes lack.
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Neel Patel
@james_chappel That makes sense. There are drawbacks too that we discussed in detail if you want to check out: https://youtu.be/6130FfDWXOI?si=...
Marcus Logan
Always Products, at least I can convert my efforts into some infinite results, which is not the case with services.
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Bilal Asif
Product, hands down! After all, you can’t spell "productivity" without "product." 😉
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Christian Onochie
I’d pick a product business. Once it’s perfected, it can practically sell itself and reach a wider audience.
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Cerca Hedgecock
Honestly, it depends on the market. If there’s a strong demand for a specific service or product, that’s what I’d go for.
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Bilal Asif
@cerca_hedgecock Could you share an experience if you ever had to choose between the two?