Identifying and Exploiting Markets for the Service Industry

If you are in the service industry then you realize that you must give the customer what they want and compete in the marketplace with other companies that also offer services. One thing that service industry executives need to consider is that once you get into the marketplace you will find customers who will tell you they wish you to modify your services and they are willing to pay you more if you can do this for them.

As more and more customers demand different kinds of variations of the services that you already provide it makes sense for your service company to also offer those lines of services. In fact quite often you will find that many of the additional services that are asked for in various markets by your customers will be more profitable than the current services you provided when he started.

This is because most likely you picked a series of types of services that were very common in the marketplace and as you got more and more into the industry and all the sub-sector industry niches that you serve, you found other services that people wanted you to do and were willing to pay you a lot more to do them.

Indeed, such new services may have little if any competition and it makes sense to exploit these niches and identify them as early as possible so you can make more money in the marketplace in your service business. Perhaps you might consider all this in 2006.

Business Services Online

If you are a small business owner or plan to be one then there are many business services online which will help you run your business much more easily and much more efficiently. The biggest advantage of the internet is that it has made the whole world smaller and has allowed us to share our information anywhere we want. And since businesses are based on contacts and information, the internet has given every business to become a truly global entity which is not confined by any geographical borders.

The biggest reason that businesses used to be consolidated in a small area was information and contacts. Being closer to customers and competitors meant you will be able to observe the changes in the industry and demand and adjust your business practices accordingly. This close view allowed sharp minded business men to react quickly and beat the competition. The business services online today provide you with the power to do all of this all over the world.

There are some absolutely great business services online which many people do not know about. One thing that businesses are finding very useful is cloud computing. Cloud computing is a system of networking wherein your data is stores on the network and not on your PC so you can access it from anywhere. This allows you to share data between as many people as you want.

Another great business service online is online workspaces. These workspaces make things easier for the management and the workers. The management can easily assign tasks to people and manage their progress with some simple clicks and the workers can see what they have to do just by logging on.

Another great service is conferencing tools. These allow people from different countries to just talk on video chat. This allows companies to grow beyond borders and still be able to have meetings, make decisions and discuss problems as if they were talking face to face.

There are many other great business services online which really help you streamline your business and work more efficiently and quickly.

Evaluating the Potential of Internet Business Services

Internet Business Services are thriving. Every day there are more and more consumers logging on and now cost-effective to carry on business services via the internet.

To operate an Internet Business Service you will need less operating costs as you no longer require a brick and mortar store and you can now have specific niche businesses or items that would have failed if they had been in a traditional business setting. Best of all, Internet Business Services will allow you the freedom to be able to work from anywhere – the office, on the road, at home…anywhere!

That being said, not all Small Business Internet Services prosper. You can still sink a lot of money into your business and have it flop. There is homework involved for the Internet entrepreneur as you have to research the business you are considering as there is so much competition out there that it may be infeasible to try to go head to head with a company or in an industry you have no chance in turning a profit it.

Use concrete data to contribute as the basis of your Internet Business Services. Likely the main factor over all to be considered is the demand for the Internet Business Service you want to create.

Here is a scenario: You are considering an Internet Service Business to sell contact lenses in the Philippines. What is the average gross margin on sale? What are the price points to be considered? Is there enough volume in terms of population demographics to support the need? If you can not get enough traffic there is no need to be in that business.

Be very wary of your competition. Who are other Internet and non-Internet Business Service providers that cater to the same need? There could be few competing Internet Businesses in your niche, but if there is not enough traffic to begin with, you are better off to find another niche

How do you intend on making your money? Will you be acquiring your revenue from online sales, affiliate commission revenue, advertising revenue, email marketing…?

After you have done your homework and determined what niche is a fit for you and you are sure of the likelihood of success with your Internet Service Business get to work on your site. Make sure it is unique, interesting and useful. Launch it-and let the sales roll in!

But the next question is who is going to build your Internet Service Business website and how are you going to pay for the construction of the site and all that goes along with it? Today there are options for financing your website. You will likely need to put some investment into the site construction and development but if you finance the site, you can make the site much more professional and high-end and then pay for it over time as your sales come in.

Taking Advantage of Business Opportunities in the Senior Service Industry

According to a recent United Nations Study, the older population is growing at a faster rate than the world’s total population. It is predicted that by 2050, older persons will make up more that 50% of the populations in western, developed nations, including The United States. As our beloved seniors leave the work force, there are not enough younger replacements. In addition, our need for elder care and senior services is rising faster than we can come up with solutions. Older women outnumber older men by a landslide.

This is not meant to be a doom and gloom report. On the contrary, what I am saying is that where there is a tremendous need, there is also tremendous opportunity for creating new services. Not only are the seniors themselves going to need help; their loved ones will need help and support too.

It’s only going to get bigger.

Right now, a senior and/or their concerned family members have to navigate through a myriad of agencies and referral services to find housing, medical care and ancillary services. Navigating Medicare, Part B can be a real trip down Alice’s Rabbit hole! The adult children of seniors often live far away and/or can’t help.

The opportunity lies in creating a one stop service that will address all the needs of seniors and their families. Companies that create a one stop shopping service where seniors and their families can get all their needs met will be tapping in to an ever growing client base.

What do Seniors need now and what will they need later?

1. Help deciding if they can remain safely in their own home.
2. Knowledge of home safety products available
3. Help finding senior services of all kinds
4. Protection from Elder Care Abuse
5. Help finding affordable housing
6. Someone to help navigate through the government bureaucracy of Medicare and Social Security.
7. Help disposing of unwanted property
8. Social Interaction
9. Protecting their legacy
10. Protecting their finances
11. Keeping in touch with family
12. Transportation
13. Good Health
14. Home Care

There are so many opportunities in the Senior Service industry. While answering the call to help Seniors, we can also create amazing business opportunities too. Ask anyone who works with seniors and they will tell you that it is a truly rewarding experience.

Anyone who works with seniors has realized that many of their needs are just now being acknowledged. Industry has not yet caught up with the market opportunities of this rapidly growing population.

Those already in the senior care industry need to look beyond what they currently offer and expand their services to meet the needs of their clients. Opportunities abound.