The customer mantra ‘we want more for less’ seems to crop up with remarkable regularity when discussing budgets and plans for the year ahead.
In this business services sector white paper, we explore the contribution that small and medium-sized business services firms make to the UK economy and how to achieve growth even in uncertain economic times.
What does the ‘more for more’ business culture mean for your business?
Instead of giving into such cost pressures, however, most forward-looking business services firms realise that the key to growth is convincing customers that they are worth ‘more for more’ – but how should they go about it?
Regardless of the type of services on offer – recruitment, marketing, legal, accountancy or other professional services – instilling a quality-driven culture can help to improve the firm’s value proposition. The ability to deliver a consistently high-standard of service, delivered by a loyal, skilled and motivated workforce, will enable the company to charge a premium for its services and support the firm’s organic growth.
Finding time to invest in a quality-driven culture is not necessarily easy of course. In particular, those at the head of the organisation must be prepared to lead from the front; communicating the organisation’s vision and values in a compelling way and empowering workers to take positive action in the best interests of the firm’s clients.
Business leaders must also make the right strategic choices. In a world where routine services are increasingly being outsourced to low-cost providers, or being automated, service sector businesses need to adapt and look for ways to drive value across their organisation. To achieve growth, they must focus on quality while improving efficiency and investing in a people strategy.
“In a world where routine services are increasingly being outsourced to low-cost providers, or being automated, service sector businesses need to adapt and look for ways to drive value across their organisation. To achieve growth, they must focus on quality while improving efficiency and investing in a people strategy.”
Martin Atkins – Head of Business Services
These are challenging times for service sector firms – some will fly and others will fall by the wayside. Those that don’t adapt will find they are unable to keep pace. Those that really understand what clients and employees want from them and centre their business proposition on this will thrive in the future.
Menzies Business Services Sector Advice
We advise lawyers, barristers, accountants, marketing, advertising and recruitment practices, as well as sector-dependent clients. We work closely to find solutions to industry issues, utilising our expertise in everything from business strategy and corporate finance, to audit and tax advice.
To talk through the above or for more information about Menzies Business Services sector expertise, contact Menzies Head of Business Services Martin Atkins by email email@example.com or phone on 020 8343 6408.