430: Built to Sell: How to Design a Business to Run Without You
The Side Hustle Show
Nick Loper
4.7 • 1.6K Ratings
🗓️ 4 February 2021
⏱️ 48 minutes
🧾️ Download transcript
Summary
Service businesses can get a bad rap.
After all, there are clients to deal with, and actual labor involved in fulfillment. They’re just not as glamorous as other more “passive” income models.
But you should know that more Side Hustle Show guests started with a service-based business model than any other.
This week’s guest has a unique approach to service businesses -- one that doesn't rely on your skills as the expert.
Tyler Gillespie has built two successful service businesses and had a clean exit from both -- the last being just 13 months from startup to sale.
Tune in to hear:
- how Tyler comes up with ideas for productized service businesses
- the processes he implements to put his business in a position to exit
- how he outsources the mechanism of his businesses
Full Show Notes and Free Bonus: Built to Sell: How to Design a Business to Run Without You
Transcript
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| 0:00.0 | What's up? What's up, Nick? A lot of people here. Welcome to the side hustle show because you're |
| 0:04.1 | nine to five may make you a living, but your five to nine makes you alive. Service businesses |
| 0:10.4 | can get a bad rap. After all, there's still clients to deal with. There's actual labor involved |
| 0:15.6 | in fulfillment. They're just not as glamorous as the other more quote passive income models. |
| 0:22.0 | But you should know that more side hustle show guests started with a service-based |
| 0:26.8 | business model than any other. And on today's show, you'll learn how to set your business up from |
| 0:31.5 | day one to provide great value to clients. Yes, but without relying on you to do the actual work. |
| 0:38.8 | I'm excited to welcome Tyler Gillespie to the show. Tyler, what's going on? |
| 0:42.5 | Not much, man. Thanks so much for having me. Excited bigger. |
| 0:45.4 | You bet. So Tyler is a longtime listener. We first connected way back. I want to say 2014 over a |
| 0:52.0 | world domination summit ticket. But in any case, Tyler today runs productized.services where he |
| 0:57.8 | helps people with this unique brand of service-based businesses. And there are a couple of huge |
| 1:03.4 | benefits to Tyler's approach. One, all of a sudden you're not limited by your own skills. You just |
| 1:08.0 | have to have the ability to find clients and then other people with the skills that they need. |
| 1:13.2 | So that's huge. That dramatically opens up the realm of potential services that you could offer. |
| 1:18.4 | And number two, since the business no longer relies on you as being the hands-on mechanic, |
| 1:24.4 | it becomes that much more sellable down the road, which is something that Tyler's done a couple |
| 1:28.8 | times now. If you hit up side hustle nation dot com slash Tyler, you find links to all the resources |
| 1:33.9 | mentioned along with the full text summary of our call while you're there, be sure to download |
| 1:38.8 | my free list of 101 service business ideas that might just be right for the type of productization |
| 1:45.1 | we're talking about today. Like Tyler will tell you as a founder, you need to balance your bottom |
| 1:50.0 | line and take great care of your team. That's why our sponsor Gusto built an easier and more affordable |
... |
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