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How to run a successful personal service business

  • Highlights

  • Use big data to predict customer needs

  • Use people and software to become dependable

  • Leverage your social network to spread the word

  • Lay emphasis on feedback to improve your service

The service industry is flourishing as more millennials join the workforce and liveindependently. This means that the young working class is has no time for household chores. In turn, this presents alucrative opportunity for personal service business that provide services such ashome cleaning, grocery delivery, car cleaning and at-home beauty services. A service businesstoday faces a lot more competition, which means that you must be able to deliver what you promise, when you promise it.Running a successful service business requires specialisation and to ability to keep your customerssatisfied so that they keep coming back to you.

Here are some tips to help you run your personal service business successfully.

• Incorporate big data to understand your customer needs in advance

Big data is used to analyse customer preferences and to predict demand. In a service business, big data can be used to predict the customers’ requirements so that you can customise your business to suit their needs. This will help you create a niche for yourself.Big data can also help you understand when customers seek offers, in making delivery schedules, and in highlighting expected delays so that you can ensure that your business stays on track.

• Use people and software to be dependable

In a service business, your entire process revolves around the customer as you are not manufacturing a product. So, you must ensure that your human resources are well equipped to deal with customers in a manner that they find satisfactory. This is a worthy investment even if it increases your costs slightly, as they are the face of your business. You must also invest in the right software to ensure that your backend systems are reliable. If you find that you need more working capital to meet these requirement, utilise an easy business loan to your advantage. This financial offering gets you the funds you need at nominal cost with simple eligibility criteria and quick online application.

• Tap into your network

Customersare more open to trying out a new service provider if it comes recommended from someone they know. So, use your social circles to generate business for you. Use social networking sites and hard sell to your friends to draw the first customers. Then, let word of mouth and reviews take over.

How To Get Small Business Finance From Bajaj Finserv

Eligibility Criteria for a Bajaj Finserv Business Loan

Business loans from Bajaj Finserv are designed specially to help growing businesses meet their financial requirements. Easy to apply for and hassle-free to avail, these loans come with several unique benefits that make them the ideal mode of business finance for small and medium sized enterprises, such as a Flexi loan facility that lets you borrow when you need, and prepay when you can. They require only a minimum of documentation to apply for, and come with easy eligibility criteria, which you can view below.

• Focus on feedback

When you operate in the personal service industry, it is important to communicate to your customers that you care. This will also help you develop your serviceto ensure that it caters to what the majority of your audience is looking for. Focus on getting complete feedback rather than doing this as a formality.And, ensure that you reply to feedback immediately. Set in place feedback forms that your customers can complete online, or over the phone.

Establish a customer service team to get feedback from your customers and to maintain human contact. Doing this as a dedicated effort will give you reliable insights when it comes to improving your service in the next round of development.

The personal service industry can be challenging as it involves dealing directly with your final customers. So, you need to be efficient, clear and stick to timelines. Adopting these four tips will help you do just this.

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