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Service Businesses Can Be Innovative Too

Service Businesses Can Be Innovative Too

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As a small business, you have dreams of taking the world by storm. But, without stating the obvious, not all companies will become the next Facebook, Apple or Naspers. Product companies like Apple are super cool; they keep their loyal supporters on the edge of their seats in anticipation of the next new, innovative product. Service companies, like the accountant around the corner, are often less exciting. This being said, service companies can be extremely imaginative, innovative and exciting.

Related reading material: The misconceptions of starting and running your own business

Following are ways in which service companies can be innovative:

Needs 

Just as a product company would create a product based on the wants and needs of consumers, so too should a service company. Pay attention to trends and listen to what people are saying to think ahead and anticipate people’s future needs. Develop services and niches that are growing and expected to increase in demand. For example, if you are a recruitment agency that focuses on entry-level job placements, you may identify the need that graduates and school leavers will have to do well at an interview and present themselves as professional as possible. Why not offer a Career Development Seminar and advice on Personal Presentation?

New markets 

If companies and individuals use your accounting service in Gauteng why wouldn’t they in the Northern Cape? Broaden your horizons and find ways to expand your client base beyond your comfort zone.

Knock them dead with memorable marketing material 

When it comes to visualising a service benefit you have to use visually-appealing marketing materials to take advantage of potential customers. If your website is dated, it can do more harm than good. If your business card looks like something from the 60’s, it is time to change. People make decisions with all their senses including their eyes. Leave a memorable impression and make them want to come back for more.The nature of services and the pace of change have shifted dramatically in recent years. Customers have higher expectations. Mobile phones are changing the landscape of communication. Social media and customer engagement are buzzwords that are here to stay. You can no longer be happy with the status quo. This will most certainly lead to your company’s demise.

Related reading material: Beyond the business plan: Implementing your start-up strategy

Established in 2006, we have successfully written more than 12,500 Professional Business Plans for clients across 25 countries. As South Africa’s Leading Business Plan Company, we are confident that we would be able to assist you too. Kindly note that we also offer “Investor Pitch Decks”, “Excel-based Financial Models”, and “Proposal/Tender Writing Services” in addition to our Custom Business Plan Writing Service. Please visit our Services page for more information.

We look forward to being of service to you. Please feel free to contact our Founder, Dr Thommie Burger, on +27 79 300 8984 should you have any questions. He is also available via email and LinkedIn.

JTB – Your Business Planning Partner.

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