Is your business in the service industry? Then you know you have to juggle these 3 things on an ongoing basis:
- Quality- basic, mid-range or premium
- Time – speed of delivery
- Cost – how much to charge
This is a difficult trio to manage is because many clients demand the best of all 3. They want high quality super fast at a great price. The challenge is you can only have 2 of 3 because of the basic “physics” of doing business. In order for something to be high quality, it will either take more time and/or resources (money) to make it so. In order for it to be fast, it has to be done with more resources (cost) or poorer quality. In order for it to be cheap, it has to take longer or be of lower quality. Think burger for $1, fast but low quality compared to a steak for $20, good quality and takes a bit more time.
One of the most important decisions you can make in your service delivery is which two of the above are you going to commit to? Once you make that decision, you can run your business with more clarity and you can better articulate communicate to customers the strengths of your service. “We offer premium services at a fair price. This means we take the time to do it right!” There is always a positive way to explain things. The main thing is to explain why! Customers are more understanding if they know why.
Sleep better at night knowing why and how you are doing things instead of constantly questioning why the numbers are not adding up and what to do. Then communicate this to your staff and customers to manage their expectations.
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