What Every Business Should Learn from Apple. Sell More Than Hardware, Boost Revenue with Services

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Sure, Apple sells great looking hardware, but as reported by the WSJ.

It’s array of services is what will keep the profits coming, over and over again. The WSJ writes, “The bulk of Apple’s services revenue comes from apps. Apple keeps 30 cents of every dollar that flows through the App Store. In January, the company said customers had spent $20 billion on apps in 2015, suggesting Apple generated roughly $6 billion in revenue. Mr. Cook said App Store revenue grew 35% in the March quarter.”

So here’s the lesson. You can sell a product (or simple service) to your customers, but by selling a recurring service you’ll always be connected to your customer and have a steady stream of revenue.

An accountant just selling annual tax services is not an accountant for the longer term. One for the long term sells retainers.

This goes with every industry.

For companies selling a “product” consider how you can turn also sell a service, of value to your customers.

If they know, like and trust you – it shouldn’t be too hard to sell them a service that they need.

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Ramon Ray, founder and editor Smart Hustle Magazine. Entrepreneur, best selling author and global keynote speaker.