Do You Know When To Change Your Business?

When do you make changes to your business model? Many owners and managers only make changes to their business model when they see a negative impact on their bottom line. Depending on the forces acting on a business that may actually be too late.

In some cases change renders a business model obsolete.  If you need an example, think of the change in the payphone industry brought on by the use of personal phones. Yes, the impact actually occurred over a period of many years. Little can or has been done to return that once thriving business to the former glory days.  Pay phones have joined the buggy whip of industries that have been come little more than museum exhibits.

As buyers have become more “sugar” conscious the ice cream shop has felt a slow-down. Other businesses have needed to change how they reach customers in ways that a few years ago didn’t even exist.

Right now the cable and satellite industries see their customer base moving to the new subscription services that feed not only Television but all of their connected devices. Some say the customer base is not only moving but fleeing to a lower cost model for their entertainment.  The lone holdouts seem to be some sports fans who can only see “all” of their events on the feed from these providers.

What do you look at to insure you are meeting your client’s needs?  Sales dollars? Do trade journals provide all the information you need about the direction of your business field? Do you collect your customer feedback along with any after sale complaints? How do you collect the data from pre-sale questions? Does the pre-sale inquiries show a trend leading to new product or service ideas?

What do you have in place to watch how new and developing technologies may be entering the customer needs and wants pool of philosophies. Do you lose sleep at night wondering how the next big idea will reshape your business model?

The time for changing your business model isn't when you're already overhauling your IT infrastructure or undertaking some other huge initiative. You would have not gone into a rebuild if you were going through a regulation change and changing your point-of-sale system at the same time. You don't land all of the planes at the airport at the same time. Just not good ideas. Know when too much change is too much.

SMART Service Desk IT Service Management Software is a great start to creating your very own customer service legends. We know that your satisfied customers will return again and again. Let us help you increase productivity, reduce operations cost and improve customer experience with our ITIL compliant solutions. No matter the size of your business we have your customer retention solutions.

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