Economy And Your Service

What is your business? Seriously, what is the economic foundation for your service to your customer? What are you proving them, that they will pay you to do at a profit?

Now most service jobs are a simple exchange.  My car needs an oil change I go to a mechanic they change the oil and boom, I am done. The same thing happens when I go through a drive through window and just get my food fast. It is speedy services. Alright. We have the basics of service for profit. A person does a job for someone else above cost for the action done.

Now what about the experience economy, which is a great book by the way. People will pay more for an experience. The easiest comparison would be taking your family to a local diner where the food is okay, and the service is okay, but the experience is not worth remembering and it doesn’t cost you that much. Then there is the fancy, expensive restaurant that cost you a day’s wage to eat there, and you feel upgraded. You paid for a better experience.  It’s the reason movie theaters keep remodeling and why unfortunately drive-ins are dwindling. We pay more for a better experience.

There are other economies, but those two take up the majority of what I see happening today in business. There is the final economy that the Experience Economy talks about. It is the transformation economy.  If you are online in any possible way you will know that this economy is booming.  You have the health industry, which is the majority, then there is wealth, and finally there is relationships.  The net is full of you can become different by following my XYZ program. We pay to become; rich, sexy, and loved.

The foundation of these economies is still service. If someone is going to exchange money with you it will be for something you do or provide. Your business fulfills their need and I believe the better you do it the more you will be paid.  If service is the foundation I believe that experience is the USP, and can be customized to draw more people to your product or service.  To end, I think transformation, not restricted to the person, but of the actions they take is the ultimate customer service.  It is only when they have used your product have you serviced them. If you have made it easier and more enjoyable for them to do something, will you get paid more for your solution.