The Basics of Building A Great Business

There is something simple and refreshing about service businesses that much of the general public understands.

Accountants and accounting firms for example, are service businesses.  Most in the general public grasp what accountants do.  There is not a huge need to educate the market about what accountants do to help introduce their service to a local economy. 

I love businesses like that, mainly because they provide a service that requires a certain amount of training and skill to perform, which commands reasonable rates/profit that can adequately cover business expenses and accounting services are almost always in demand.

Take Weller & Zimaro Chartered Accountants (http://www.wzaccountants.ca/), an accounting firm I came across while conducting research for this post.  Their website keeps it about as straightforward as you can get with accounting services.

The one major threat in such an ideal type of business, is that there is a lot of competition.  While there is plenty of business to go around retaining business year after year from loyal clients takes differentiation, trust and great service, and that typically takes time.

Differentiation is how an organization stands out above its competitors in the marketplace.

Trust is built by listening and being of value to the potential client even before they are officially a client, and even if they never become a client.

Great service is more often then not doing what you promised you would do at the on-set of the engagement, which got the client to sign up for your services.  Certainly, it goes beyond that, but you'd be surprised how many clients jump ship because their current provider didn't hold up their end of the agreement. 

Great service also is an extension of your integrity and the trust your clients have in you.  Do you go out of your way to do the right things for your clients, not just because it's your job but because you care about your clients' success?

Posted by Nick Venturella

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