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Hot To Run, Grow and Transform your Service Business in 2024

Many companies when aiming to improve their performance often make the mistake of trying to change many different things at the same time. They intend to gain higher customer satisfaction, sell more products, streamline their workflow & processes, and upgrade their entire software at the same time. Obviously, this approach doesn’t work and companies fail miserably at improving their performance.

When trying to improve your business you need to start will a well-thought-out plan and you need to keep a track of things which you want to change later. Otherwise, you might have a good strategy in the beginning but not being able to track things that you need to do will cause your plan to fall apart. And then there are the issues with day to day struggle of keeping your business running and ensuring that your key operations don’t halt.

According to recent research studies, the following three steps are necessary for a business to improve its performance.

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  • Run

Ensure that the essential operations and workflow activities are carried out effectively. These operations and activities don’t connect to a certain customer segment or a certain revenue stream.

  • Grow

Amplify the business activities in the established markets which tend to serve the established customer segments with an established value proposition.

  • Transform

Target new customer segments with new value propositions in new markets.

This is where helping services, such as Service. Works come in and help. These services help you with all three of these steps. Service.Works for example, not only streamline your workflows and operations but it also helps you in giving seamless customer experience. It helps you with budgeting and other financial activities as well. Such services also allow you to identify and prioritize new customer segments and markets which show potential for growth.

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When preparing the budget for your business then you need to ensure that it includes all of your “Run” items and some of the “Grow” items. This is the portion of the budget which you need as a bare minimum to keep your competitive advantage. If you cut down on this portion then your service offerings will tend to reduce. It will also expose you to operational risks such as a security breach or a server failure.

But apart from that you also need to ensure that you include some “Transform” items on your budget. This is necessary if you want to innovate and come up with new product offerings. If you tend to meet only the bare minimum then you will never be able to increase your market share.

Performing budgeting tasks while keeping all of this in view can be challenging at times. That is why you need a field management software to automate your budgeting and other operations. So, you can focus on pressing matters of higher priority.

If you feel like that all of your time is going into keeping your system afloat and maintaining its market share then ServiceWorks can be an efficient way to help your business grow. It ensures that your business grows sustain-ably while improving consistency and seamless experience in existing workflows.

About Stefania Trtica