Business Services
Business services are activities that support a business without producing a physical commodity. This includes activities like providing childcare for employees, cleaning company offices and delivering water and electricity to the workplace. It also includes professional services like accounting, consulting and marketing. The success of a service-based business depends on four critical elements: excellent customer service, efficiency and productivity, and an effective marketing strategy.
A successful service business focuses on building relationships with clients that result in repeat customers and referrals. This means being professional and respectful, but also taking the time to listen carefully to each client’s needs and respond with solutions that meet those needs. This kind of service requires a strong team, so it’s important to hire and train employees with the right skills and personality for your business.
In addition to providing good customer service, it’s important for a service business to develop efficient procedures that reduce duplication and increase efficiency. This involves establishing communication channels and ensuring that processes are streamlined to ensure that each step is taken in the proper order. It also involves using technology to automate some tasks and improve productivity.
Companies can also save money by implementing shared services. This is when different departments within the same company share resources to save money and improve performance. For example, many companies offer human resources shared services to streamline employee functions and reduce costs. Other common examples include accounting, IT and facility management shared services.