From the course: 32 Ways to Make Extra Money
Join today to access over 22,600 courses taught by industry experts or purchase this course individually.
Analysis: Is a service right for you?
From the course: 32 Ways to Make Extra Money
Analysis: Is a service right for you?
- So with a product, you have something that is going out the door, being handed off to the customer one way or another. Most of the examples I gave you are for physical products but a product could be digital as well. Now with a service, you are doing something for someone. It could be basic or complex, low end or high end. Whether it's cleaning a home or designing a 10 million dollar home for someone, it's a service. So in this chapter, you heard several stories about services including a guy who rents out his camera gear, over and over, a traveler who takes people on tours of Myanmar, and a woman who edits romance novels. There are lots of other examples. The key point is that with a service, you're doing something for someone. Consequently, a service business takes time and can sometimes be labor intensive. You're effectively trading time for money. So in one sense, a service doesn't produce passive income. Now that…
Practice while you learn with exercise files
Download the files the instructor uses to teach the course. Follow along and learn by watching, listening and practicing.
Download courses and learn on the go
Watch courses on your mobile device without an internet connection. Download courses using your iOS or Android LinkedIn Learning app.