The Business services sector represents one of the largest sectors in the economy, contributing 11% to European GDP. It includes all activities that support business but do not produce a tangible commodity, such as information technology, procurement and shipping.
Business service providers provide companies with products and services that they need to operate but do not have the expertise or time to create themselves. This includes companies that help businesses meet regulatory compliance requirements. It also includes firms that supply utilities like water, electricity and gas, as well as those that provide professional and administrative services such as accounting, human resources, IT, and office management.
Successful service businesses have a strong understanding of the needs and wants of their customers, and are able to match those with the right offering. This requires a shift in thinking away from product design, where managers focus on features that buyers will value, to experience design, where managers focus on the outcomes desired by customers.
When developing a business plan, it’s important to set clear goals and define your target audience in order to develop a marketing strategy that will work. It’s also a good idea to develop clear service standards that will govern how employees interact with customers, as this will have an impact on customer satisfaction. Finally, it’s essential to establish a brand identity that will help customers recognize your business. Use Looka’s free Business Name Generator to find inspiration, check domain availability and preview logos for your business.