Creating a service based business if I don’t have the skill myself?

[RamboCambo]

Hi community.

I feel like I have so many ideas but I’m always held back by the belief that I have to execute the idea myself or create the product myself, or I need a lot of money to get it going. I’d like to believe this is false.

I was watching a video by Noah Kagan (not sure what people’s thoughts are of him on the forum), but he makes a ergonomic desk setup business, but he can’t even do the setup himself. Can you make a business, say for example a plumbing business, without being a plumber (or know how to do the skill yourself) yourself, or without having lots of money?

 

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[RamboCambo]

Hi community.

I feel like I have so many ideas but I’m always held back by the belief that I have to execute the idea myself or create the product myself, or I need a lot of money to get it going. I’d like to believe this is false.

I was watching a video by Noah Kagan (not sure what people’s thoughts are of him on the forum), but he makes a ergonomic desk setup business, but he can’t even do the setup himself. Can you make a business, say for example a plumbing business, without being a plumber (or know how to do the skill yourself) yourself, or without having lots of money?

I’ve done some lurking myself and this seems to answer the question indirectly. In short, yes it is possible. GOLD! - MARKETING - CHECKLIST: How to Start a Digital Marketing Agency & Hit $5K in Less than 90 Days

 

[DWX]

I think in that video Noah was demonstrating how uncomplicated starting a million-dollar business can be.

IMO if you don't know the skill (and/or have little knowledge in the field), then you'll undoubtedly need to hire people.

Hiring people requires money.

And if front-loading that capital is not possible for you, then you really only have two options.

1. Learn the skill and sell to clients/customers yourself (which will, in turn, give you invaluable experience if you were to set up an agency down the line) OR...

2. Be a referrer and charge a commission on all work sent to businesses/people selling the service.

Again, just my opinion.

Perhaps there is a third way, but that's unfortunately outside of my well of knowledge.

Best of luck.

 

[Bing]

1. Learn the skill and sell to clients/customers yourself (which will, in turn, give you invaluable experience if you were to set up an agency down the line) OR...

2. Be a referrer and charge a commission on all work sent to businesses/people selling the service.

I would add that partnering with someone who already has the skill(s) is option #3. Of course you still have to bring something to the table to justify your equity (capital, network, distribution, marketing/sales).

My business partner and myself are 50/50, when we started he put up a (relatively small) amount of capital, I built the product (SaaS from ground zero) and he handled "everything else". Roles have adjusted a bit over the years, but the basis remains still the same; he still hasn't written any code for the product, but he does manage the infrastructure, payroll, etc.

 

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