Entrepreneurs starting or expanding a professional services business need to realize that this type of business is different than a retail store, manufacturing company, or e-commerce store.

Rather than selling a tangible product directly to the end user, it involves marketing a defined set of skills based on personal knowledge and experience.

The buyer cannot physically touch or feel that service, but must rely on conscience, reputation, and trust before selecting a firm for accounting, training, financial services, IT consulting, legal work, and/or healthcare.

Our firm is currently in its 17th year. We offer developmental optometry services to clients not only in our base area of ​​Glen Carbon, Illinois, but to others across the country. Over the years, we have tried various marketing strategies to grow the practice. Fortunately, we have developed a winning combination that has resulted in an extremely large increase in both patient volume and net profit. Below are some lessons learned, which can be applied to anyone looking to start or grow a professional services business.

1. It’s okay to be a small fish in a big pond.

When we started, we were in a very small rural area. We were the big fish in a small pond. Unfortunately, it was a very small pond. While patients visited us from the surrounding towns, there simply weren’t enough of them to sustain our practice. This triggered a move to a larger area, about an hour away. It was also a suburb of a major metropolitan area. Although the competition was greater, we were able to create our own niche and attract dozens of new patients. Moving to an area where there were more potential customers became the foundation for our spectacular growth.

2. Make and differentiate your company.

Google any business in any service category. It is a challenge to determine how one company differs from another. That’s why professional service firms need to develop a marketing strategy that differentiates their business from the competition. In our case, we were one of the first development optometry companies to use YouTube. It helped us educate the public on a variety of eye-related issues that weren’t really being addressed. He also helped establish our firm as experts in the field. Since this medium is very popular and relatively inexpensive to use, we were able to create a large number of videos and reach a large number of potential customers more efficiently. Today we have hundreds of videos on YouTube and a strong presence on various forms of social media. It has allowed us to reach potential patients not only in the US but also internationally.

3. Work together with other professionals in your industry.

Since our firm is one of the few growth optometry practices in the nation, other eye doctors in remote locations often call us to inquire about their patients. Some are even located in Europe and South America. This consultative approach is also valid for professionals in other industries. Attorneys who specialize in one area of ​​law can often serve as a referral source for those in other practice areas. The same is true for a financial planner wanting to connect with an insurance professional or real estate broker who can serve as a referral source for a mortgage lender. Developing relationships with those in non-core businesses can be a real boost to your company’s growth.

4. Hire a business coach or consultant.

Few of us in professional services are trained in strategic business growth. It’s not what we do. To grow our practice, we engaged with a business consultant who has started and operated many large and small businesses. The consultant helped us establish many standard operating procedures, helped us build a higher functioning team, and helped create benchmarks for growth. He has paid himself many times over. Service companies can scale faster and more efficiently by hiring someone who has done it all before.

5. Consider new ideas for practice growth.

Those in professional services need to research and analyze different ways to grow their businesses. In our case, we began consulting with other opticians who wanted to learn Developmental Optometry or wanted to add it as a service offering. The consulting piece has added to our revenue stream and increased profits. You can study industry trends and determine the right type of additional specialty services that best fit your practice, personality, and business goals.