Package your service and evolve your business

Five years ago, the married couple Joyce Rotgers and Víctor Rivera, both engineers, took the plunge and established Visional Technologies. The business offered dimensional metrology services; in plain language, they measured the components used by manufacturing businesses to ensure the quality of the assemblage and fabrication of products. Their current clients are general manufacturing, technology and medical device companies. What began as a two-person project has grown and they now have eight employees, with clients in Puerto Rico and abroad. However, they soon faced a challenge that is common among many entrepreneurs in the services sector: there aren’t enough hours in the day to meet the demand – in their case, a very specialized service – and they needed to identify a way to allow the business to grow. Ángel Pérez, president of Rock Solid Technologies, provided guidance on how to solve their needs. Rock Solid Technologies is a Puerto Rican technology company that at one time faced similar challenges: a small team with plans for international expansion. Established in 1997, it currently has 125 employees who provide information systems solutions to clients in the public and private sectors from offices in five countries. To achieve its objectives, Rock Solid implemented the following strategies, which it now recommends for Visional Technologies: • Generate your own intellectual property that you can sell and market. Think about what needs for a service or product are not being met and design a solution. • “Package” the service as a product, so it is easier to sell. This requires a design that can be replicated for various types of customers. • Recruit the best talent for the tasks your kind of business requires. That is the only way you can delegate and dedicate yourself to the tasks that add value to your business and allow you to take it to the next level. The advice that Ángel shared with Joyce and Víctor could also help you with your expansion plans. Try it! Also, follow this blog to learn about more stories of entrepreneurs who, just like you, want to make their businesses more popular. Banco Popular of Puerto Rico (“Popular”) is not affiliated nor related to the individuals or entities mentioned in this article. This article is for informative purposes only, and does not constitute an endorsement or guarantee of its accuracy. Neither Popular nor any of its affiliates, subsidiaries, or related entities are, nor might be held liable for any special, direct, or indirect, damages, resulting from reliance on the information contained in this article, which Popular did not prepare. Popular provides financial services) and does not provide the type of service referenced in this article. If you need any related service, you should request the advice of the competent professional of your preference.