5 Must-Read Books For Starting A Service Business

Businessman reading book at desk

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It’s fair to say the tech world is experiencing a labor force shakeup. Companies are posting record-breaking profits but laying off significant headcounts. Simultaneously, these organizations are also poaching AI talent and investing billions in AI-driven development.

This ever-evolving reality has tech talent wondering if they should pursue entrepreneurship instead. Ditching the traditional corporate route isn’t for everyone, as building a business from the ground up can seem overwhelming. There are plenty of risks and unknown answers to questions like “How long will it actually take to turn a profit?” And I’ve seen firsthand how challenging this transition can be.

To take the plunge and build a service business on solid ground, aspiring entrepreneurs need guidance as well as practical advice. The following five books offer just that. These words of wisdom cover everything from listening to your inner voice to launching a service business that clients trust. For someone ready to bet on themselves and their ideas, these books can help build a steady foundation for success.

1. Robert Glazer — The Compass Within: A Little Story About The Values That Guide Us

Bestselling author Robert Glazer speaks to authenticity in The Compass Within. You can’t align your professional self with opportunities that “fit” if you haven’t discovered your core values. Often, people find themselves in careers, organizations, and professional positions that feel “off” to them.

Glazer uses real-life examples to illustrate how getting clear on what your values are can open up doors, including entrepreneurship. When you’re able to articulate your guiding principles, it’s easier to make difficult but obvious choices. Knowing what’s right for you helps you develop a plan for getting unstuck from undesirable situations.

2. Maureen Broderick — The Art Of Managing Professional Services: Insights From Leaders Of The World’s Top Firms

Admittedly, managing a service-based business is vastly different from a product-based one. A product is something your clients and staff can see, and because products are tangible, conventional business practices tend to apply. But as Broderick points out in The Art of Managing Professional Services, service-based organizations don’t fit the typical mold.

Leaders of these firms face unique challenges, from developing a vision to balancing the books. As someone with 30 years of experience in professional services, Broderick shares 40 of the best strategic practices.

Client acquisition, financial metrics, marketing, and talent development processes are just the tip of the iceberg. Her insights focus on creating consensus-driven organizations while balancing both the intuitive and logical sides of running a service-based business.

3. Marco Inansiti, Karim R. Lakhani — Competing In The Age Of AI: Strategy And Leadership When Algorithms And Networks Rule The World

In Competing In the Age of AI, Inansiti and Lakhani draw on real-world examples to show how AI is eliminating traditional operating barriers for businesses. It’s a new game with a new set of rules. Nonetheless, both conventional and tech-driven organizations still face operational challenges.

When AI makes room for scalability and gives businesses the ability to expand operational scope, the competitive landscape drastically changes. Even traditional firms have to rethink operational strategy and frameworks to remain relevant.

This is evident with digital-first firms like Amazon competing across multiple industries and the competitive responses from organizations with conventional business models. The authors explore this dynamic while laying out guidance for competitive strategy in an algorithm-driven world.

4. David H. Maister, Robert Galford, Charles Green — The Trusted Advisor

A service-based business is about selling something intangible. To do this, you have to gain and keep your clients’ trust. Think about industries like insurance, financial planning, and legal advice. You’re also establishing trust based on providing guidance for sensitive, complex, and emotionally charged situations.

The authors of The Trusted Advisor outline their “trust equation” model for building trust-based relationships. It involves more than persuasive communication, although this plays a role. Anyone leading a service-based business can benefit from the five steps in the trust equation—engage, listen, frame, envision and commit. Trust itself is intangible, but it is the cornerstone of fruitful client relations.

5. Michael D. Watkins—The First 90 Days

Transitions can be rocky. This includes taking on a new role as a startup founder. In The First 90 Days, Watkins lays out executable strategies for tackling transitions. Although the book focuses on starting a new job and stepping into a promotion, Watkins’ advice can apply to embarking on entrepreneurship.

This book shows how to successfully manage performance expectations and the first three months of a new position. After all, becoming your own boss may be your first taste of what it means to be a leader. And the first 90 days can be critical in setting the stage for future results. You’ll gain insight from Watkins on how to successfully make the transition—and succeed while doing it.

Launching Your Venture

Leaving your W-2 job to start a service business means taking a leap of faith. You have to believe in the merit of your ideas, your expertise, and your ability to gather the resources you’ll need. Each of the authors shows you how to build the confidence and frameworks necessary to transition from employee to entrepreneur. Above all, you’ll gain expert guidance from those who have taken a similar bet on themselves.