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Do you want your business to be more profitable and have excellent customer service, then you need the “Box Principle”!
It’s what I recommend to all my customers, no matter their sector, use the Box Principle. However, it works especially well in the IT and Technology sectors, for example for IT Support companies.
The Box Principle is simple, you create and define a set of services that you’re going to provide to your customers. You think them over carefully, plan out how you’re going to deliver the services, what they cost and how much you should charge. Every business should have this as a core tenant of their business.
Now for the tricky part, if a customer wants something different, you don’t deviate. Not at all, in fact you could end up turning revenue and customers away, which seems like a terrible idea. However, the genius of it comes from what someone said to me many years ago that has stuck with me ever since, “revenue is vanity, profit is sanity”.
With a clear set of services that are well defined, easily delivered, profitable and repeatable, you can provide these services time and time again with excellent customer service. You turn you customers into your ambassadors, who go out and tell potential customers that your services are so good, why wouldn’t they use you!?
Now, let’s be clear, every Box of services should be reviewed, updated, amended on a regular basis to ensure you meet the needs of your customers. Just don’t do it on an individual customer basis, reacting to a need from a current or potential customer.
Every time I’ve seen a business let go of this principle to provide hastily defined services to a customer to gain revenue, it always ends up causing more pain for the business and generally ended up costing them money. Those that stick to the Box Principle are the most successful and profitable businesses that I’ve ever worked with.
If you aren’t following the Box Principle, I can help build out your Box and make your business more profitable and increase your customer satisfaction. Tempting? Get in touch for a chat.