Tuesday, August 3, 2010

SERVICES ARE HOT



In a great article from W.P. Carey’s Center for Services Leadership called “Making Services a  Science – new study finds great interest – and great confusion (http://bit.ly/dmdAgy)” the need for service innovation is being recognized.

‘......more companies than ever are interested in services innovation -- the creation of "transformative" services. More companies than ever are interested in smart services design. More companies than ever are interested in creating service-centric cultures, in leveraging technology to boost services and in creating consistency of service across geographies.’
I am inclined to say ‘finally’, but there is a right time for everything. It is good that more and more companies (and also governments) see the need to add services to their portfolio. And it is also very good that they understand that service business is fundamentally different from product business.
In essence, service business is people business, it is a human being who delivers the service. I always explain that if a product is out of stock you will order it from the factory. Because service business is all about human beings, the incubation time there is minimal 9 months…..
So, yes indeed there is a difference. The quicker you learn and understand this, the quicker you will be able to leapfrog your competition.
‘…….the challenge now is to create "the" model for services success -- a roadmap that can help service-inexperienced companies get started or allow services experts get even better at their craft.’
In my next post I would like to introduce my model, which I call ‘The Services Growth Ecosystem’.
Services are hot, but be aware that you don’t get burned. Take the time and the right resources to build a truly servicable organization!


GROW YOUR PEOPLE, GROW YOUR BUSINESS!


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