How Service Companies Can Benefit from Product Initiatives

About Me

1. Serial entrepreneur – co-founded two companies in India and two in USA

2. Current company – iMorph – Tools for Information and Intelligence

3. One of the mentors at Nasscom Mentoring Group in Chennai4. Started and run the Startup Special Interest Group at TiE

Chennai5. Mentor a few product companies6. Chief mentor of an Innovation Cell at an Engineering college

in Chennai7. Code for fun

Services and Products

Services Are AGreat Way To Start a Business

Services HaveLess Risks

Services MarketingIs a Well Established Process

Services Business ModelsAre Proven

Services Delivery Models Are Well Established

Services HaveA Few Problems

Services Heavily Rely OnPeople

Services Margins DiminishAs More Competitors Arrive

Service RevenuesDepend On People’s Time

What about Products?

Products Have A Higher Risk Profile

Products Have A Higher Potential Reward

Products Require A Culture of Innovation

Products Have A Different Development Model

Products Have A Different Business Model

Products Have A Different Delivery Model

Products RequireUnderstanding

Products RequireUnderstanding A Domain

Products RequireUnderstanding Technology

Products RequireUnderstanding Customer Needs

Products RequireUnderstanding Customer Needs

Products Are Easier to Scale

Products Depend On Innovation and IP

Products Depend On Finding a Niche

Products Depend On Finding Funding

Products Depend On Exploration

However Once You Get A Successful Product

You Have Better Margins

You Have Higher Market Value

You Are Less Dependent On Head Count

You Can Afford to beSmall

So, How Do We Go From Services to Products?

Products AsLead Generators for Services

Productized Services

Products Delivered As Services

Products Generate Service Business

Next Steps?

ThanksDorai Thodla

dorait@imorph.comTwitter: @dorait