Should I Build a Product Business? Read This First.

10 years ago, Laurence and I gathered a group of agency and product founders around a big question:

?? Should I stick with services or transition to products?

We were wondering about this for ourselves and wanted to find the answer. So rather than work it out on our own we invited others to share their wisdom.

We didn’t host this conversation in a soulless meeting room. We took it to the beach. Because big questions deserve space.

And here’s what we discovered:

It’s not services vs. products. It’s about who you want to serve, what problems energise you, and how you want to spend your time.

The reality of running a service business

Most of our community—coaches, consultants, designers, programmers—start with services.

It’s quick to set up. It’s fulfilling. You get to work closely with clients and see your impact firsthand.

But at some point, many hit a ceiling.

Why services work

• ? Low setup costs – Just you, your skills, and your laptop.
• ? Immediate cash flow – You get paid as soon as you land a client.
• ? Clear business model – No guessing, just deliver results.
• ? Variety – Different projects, different clients, keeps things fresh.

Why services burn you out

• ? Growth = more time, not more leverage – More clients means longer hours.
• ? Feast-or-famine income – No pipeline? No paycheck.
• ? Clients become your bosses – And some are worse than any boss you ever had.
• ? Creativity takes a hit – When deadlines rule, innovation shrinks.
• ? You’re building someone else’s vision – Not your own.

That last one? That’s the killer.

We start businesses for freedom. And then we find ourselves trapped—just with different bosses.

So naturally, the product dream starts calling.

The product dream (and the reality check)

The lure of scalability, passive income, and recurring revenue is real.

Instead of solving one problem at a time, a product solves it once—for many.

But transitioning from service to product isn’t just about slapping together an online course. It requires a different mindset.

Why products look great on paper

• ? Scales without adding hours – More sales don’t mean more work.
• ? Predictable income – Especially with subscriptions.
• ? Your vision, not theirs – You create what excites you.
• ? Bigger impact – Your work reaches more people.

Why products can break you

• ? High upfront investment – Time, money, or both.
• ? No guarantee of success – You might build something no one buys.
• ? Support is still a thing – Customers have needs, too.
• ? Less about creating, more about optimising – Growth = refinement, not reinvention.

As you can see…

The grass isn’t always greener.

Switching to products won’t magically free you from constraints.

You’ll just get different ones.

Customers. Investors. Market shifts. Your own expectations.

So… what’s the solution?

The third path: The Minimum Lovable Product (MLP)

Most people approach product thinking the wrong way.

They start with "What can I build?"

Wrong question.

Start with:

1?? Who do I love serving?

2?? What problems do they have?

3?? Which of those problems excite me to solve?

4?? What’s the smallest, most impactful way I can help them?

That’s an MLP—a Minimum Lovable Product.

?? Something small but powerful that people actually love.

Not just viable. Not just functional. Lovable.

For coaches, consultants, and wisdom workers, that might be:

? A group program that guides people through a transformation.

? A membership that gives ongoing support.

? A toolkit or framework that distills your best thinking.

? A short video series that helps people get unstuck.

Not overwhelming. Not overbuilt.

Just enough to create impact and excitement.

Your First Step: Minimum Lovable Wisdom (MLW)

If “building a product” feels like a massive leap, start here:

?? What’s one core piece of wisdom you want to share? ?? How can you package it simply? ?? How can you make it relatable and shareable?

Your first MLP doesn’t have to be a business. It could be...

A well-crafted manifesto that captures your philosophy

A simple framework that solves a common problem

A short course or guide that helps people take the first step

?? The goal? To create something small and impactful that brings people into your world... without burning yourself out.

Service, product, or both? The real answer

So, which is right for you?

?? Stick with services if you thrive on deep client work and don’t mind the time-for-money trade-off.

?? Build a product if you want to scale your impact, but make sure it aligns with what lights you up.

?? Consider a hybrid approach. At The Happy Startup School blend high-touch services with scalable products.

Whatever you choose, the key is intentionality.

Instead of chasing what looks good on paper, build something that fuels your energy, impact, and joy.

Now, over to you:

Are you exploring a shift from service to product?

What’s your version of Minimum Lovable Wisdom?

Share your wisdom in the comments...