How to scale a value based business?
I recently read an interesting article here .No matter how altruistic a mission of an organization; it is important to have a sound business model, transparency and profitability to sustain the business. The three factors that often get overlooked:
1. Customer Service: Focus on giving great value to the customer. Customer service is the best form of PR – word of mouth publicity beats any other kind of marketing hands down
2. Educate: Educate the customer on the offerings, options and services. Engage in constant communication and transparency.
Note: I still vividly remember a case study discussion that bordered on a passionate debate in my MBA class years ago, where the topic revolved around “Is it a service provider’s obligation to offer additional products and services it they think it is going to add value to the customer’s bottom line?”
3. Adaptability: Having the wisdom to staying agile and flexible to reevaluate the vision, mission and adapt to the dynamic business environment; & importantly revisit the business model if necessary