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Small businesses have been described as an engine of growth in the U.S. economy. There are over 33 million small businesses in the U.S., according to the small business administration and the home service business category accounts for over 2.5 million of those, according to Angi.com research.   

Why is the Home Service Business Category So Hot  

First, the home service business category is hot because the consumer pool needing a wide variety of home services is large and expanding. There are more than 78 million baby boomers who want and need these services because they are living longer and choose to outsource services rather than do them on their own. Additionally, there are more than 72 million millennials who prefer having others perform home services so they can spend valuable time doing other things that they enjoy more. Second, many home service businesses are mom-and-pop operations, So, companies that are more sophisticated can compete very favorably. Third, the home service business category has demonstrated that it is recession (and pandemic) resilient. And fourth, there are still plenty of growth opportunities out there.    

7 Reasons You Shouldn’t Give Up on Your Home Service Business 

Any small business, including home service business types, can be challenging. Sometimes an owner may feel overwhelmed or burned out and may feel like giving up. Here are seven reasons you shouldn’t give up: 

  1. You’ve put a lot of blood, sweat, and tears into your business, so don’t give up when the going is tough. Know that many other owners have worked through their challenges and so can you.  
  2. Think about what got you into your business and what you love about it. Do you want to give up on what has brought you fulfillment and satisfaction?  
  3. Consider your customers. Where will they go if you close your business? You’ve served them so well; can you disappoint them now? Just read your reviews and your “fan mail” to get a boost of confidence. 
  4. Consider your employees, stakeholders, and vendors. If you give up, what example will that set for them? What will they think of you? 
  5. Consider that if you give up your home service business, you’ll need to start over somewhere else. Is that what you really want to do? 
  6. Consider that setbacks and problems offer lessons and opportunities to improve. 
  7. Evaluate ways to make your business better and stronger including finding ways to economize, managing your business finances more effectively, utilizing your staff more wisely, employing more digital tools, admitting to yourself when things don’t work and finding better ways, and developing better customer service. 

Things to Do When You Feel Like Giving Up on Your Home Service Business 

First, remember that challenges are part of life and essential to growing your business. Second, reconnect and reinforce the “why” you got into the business. Third, connect with other professionals who can support you. And fourth, seek an experienced business coach who can guide you. 

Seek Professional Business Coaching Assistance 

Contact Blue Diamond Consultants doing business nationwide. Our coaching services are specifically for owners of home service businesses who are ready to take it to the next level. Schedule a call to explore our coaching services that are based on extensive experience through previous success for home service provider businesses.