Well, I’d say this is going to be the decade of the service business. Why you ask? Well, because due to new regulations and rules, Obama Care for instance, more small businesses will stay single person operations, or have only a skeleton team. This means they will have to outsource more, meaning service businesses will be in even more demand. Okay so, let’s talk, because I know a thing or two about service businesses having founded a franchising company of service business models.
First, the customers are getting more demanding every year, probably due to the Internet. They want it now, and they want it for free, and they get downright hostile and start posting viral critiques if they are not satisfied. Thus, if you run a service business, this could be your decade, but it’s going to be “all about service, all the time!”
Today, client, consumer, or customer is likely to get on their iPhone, Android, or go online, pull up 4-companies and call them. The one who answers back in 0.000493837 seconds gets the business. Google realized this and went for speed, it paid off as they left Alta Vista and Yahoo in the dust. Customers want the companies to answer the phone on the first ring now, whereas, Fred Smith at FED EX used to make sure they answered on the third ring (cite: “The World on Time” by Fred Smith).