As economies across the world have developed to a certain extent, we can see a major shift towards service-oriented businesses, then product-oriented businesses. This trend towards service-oriented offerings is being dictated by organizations that provide business solutions to their customers.
These business solutions include that of a web domain, a cloud service, an employee resource platform and many others. The success of all such companies has much to do with their unique offering criteria, and how they recognize the need for a particular service in the market.
What is a Business Solutions Company?
For every business problem, there is a possible solution. A business solutions company is one that studies problems and gives possible solutions for them to other businesses. The problem could be anything hindering a business from efficient processes.
To delve into this definition, a professional business solutions company would be one that offers its services in the form of solutions to other businesses. They could be providing a webhost, a domain or cloud services, but the end goal is that they should be providing a solution for a business problem.
Are business solutions related to IT only? We don’t think so. A business solutions company could also be providing business logo and graphic design or just simple stationary for daily business processes. The end aim for the business is to provide mentoring/consulting related to business problems that hinder the day to day operations of businesses.
In short, any type of solution or service being sought by a business can easily be provided by a business solutions company. It is key for business solution companies to study the need of the markets and shape their offerings in a way that is best suited for their clients and customers.
Knowing just how many entrepreneurs and other businesses are geared towards targeting this niche, here we take a look at how a services business provides business solutions.
Find a Niche
Before you start marketing solutions to other businesses, you need to find a niche that you can potentially target. Your niche should preferably be a need within the market and should also offer good revenue to you in the long run.
Not long ago we saw a major increase in the quality offerings made by cloud service providers to businesses. Plans were being catered accordingly, and the cloud soon became trendy and popular.
All such providers saw a need for quality data collection and storage methods in the market. Many organizations had their data stuffed in legacy systems, and weren’t able to manage it with the care that was required from them.
Cloud service providers realized that with the growing reliance on data in the market, they could offer a business model that can help provide a solution to this need within the masses.
Knowing that there was a void in the market, cloud service providers effortlessly filled that void and offered a business solution for the ages. Many organizations have now migrated to the cloud, and the limited functionality of legacy systems is all but a problem of the past.
Enhance the Offering
Once you know there is a niche, and you have a business solution to cater to that particular niche, you have to keep enhancing and developing the solution or service forward. Focus on the core aspects of your service and see how you can improve it further to make it more adaptable, portable and easy to use.
Taking up the example of cloud service providers again, we have been first seat viewers to how these providers have enhanced their offerings to exponentially grow further over time.
The cloud has innovated itself based on the needs of all consumers, and we now have a model that is relevant in this industry and age.
We now have businesses that greatly rely on Artificial Intelligence and Machine Learning as the way forward. To focus on these aspects of the intelligent future, they need computing power that can allow them to assess data in real time and work on it for overall improvements.
Let’s just say an elevator organization wants to reduce the chances of a mishap in the elevators by taking preventive action at the right time. Preventive maintenance is a major part of AI, and is based on taking real time data from machines around us to generate feasible results.
The company will want a solution where they can have sensors installed across the elevator to gauge start and stop time, and also see the door closing times. If the time recorded for these activities is fluctuating, then the elevator company would want to run a maintenance job on the elevators.
Through this efficiency, the elevator company would be able to identify and rectify a problem before it actually happens. They will quickly identify the root of the problem, and will preemptively clear it off for smooth functioning in the future.
But for this to happen and for this to actualize, the organization needs proper real time servers that can study data in real time and give the company the leverage to work on that data for better results.
Cloud service providers realized the need for innovation in their data management and data storage features, and out came edge computing.
Edge computing merges the power of real time data with that of the cloud to provide a mobile data analysis experience that can be monitored by anyone from anyplace.
Data flowing in from across different machines can be studied by data analysts and the machine itself to alert you of any need for maintenance. This will significant reduce elevator accidents in the case that we have talked about above.
Furthermore, to name some actual brands, both Boeing and Airbus are contemplating the installation of sensors across their planes, so data from them can be monitored and any disturbances in air flow can be rectified at the earliest.
Cloud service providers studied the needs of the market, and shaped their solutions based on what the people were looking.
Charge the Client in a Palatable Manner
Professional Business solution companies have a model that is based on charging the customer based on the value that is being provided to them. While the company providing business solutions might be tempted into charging higher rates, but the best method is to charge the client in a way that is acceptable to them.
It all eventually comes down to the perceived value you are providing to your customers. Your customers will want to be charged for the benefit they think you provide. If you aren’t able to build that perceived value in their eyes, then whatever you charge will be considered objectionable.
Steps to Better Business Solutions
Having studied the path businesses follow to provide professional business solutions, here we look at some of the steps for better business solutions in the market.
Know the Problems
Before you provide a solution, make sure that you know what the problem is. You might have to first get some research done in this regard. You don’t want to address a problem that isn’t considered a problem for most of the businesses around you. Your solutions should address real problems that concern real businesses.
Have the Right Solution for the Problem
You can go wrong with the solution, even when you have identified what the problem is. This is because you have multiple solutions for one specific problem. What you need to do is identify the one solution that you think will apply here. Discuss possible solutions and pick one that best applies in the case.
You need to look at solutions that businesses might not be able to manage in-house. They will only possibly outsource the problem to the outside world when they have no other option left.
Know your target market: It is necessary for you to know the market you plan on targeting. You should list down the customers you think will be benefiting from your service or product. Once you identify your market you will be better positioned to think of possible strategies for managing and handling risk.
Some questions that can help you answer the quest for finding the right solution include:
Reach Customers: You need to reach your customers where they are and advertise your solutions to them. No one will know the business solutions you are providing, until you reach out to them at the right time.
Make the Solution Stick
Once you’ve found the right solution, marketed it to your customers and implemented it, then you should look for ways to make it stick and innovate it. The solution you provide should help customers out, for which it should be innovated correctly over time.
If you provide a solution to the market, plan how you should maintain it and make it a feasible model for businesses to follow. Without proper maintenance the solution would not be able to service the market in a manner you want. If you want your technology services company to succeed, have a sustainable model with you.