Simplicity is wonderful. Businesses that can find their niche and do it better than anyone else usually succeed. Provide a valuable service and customers usually respond, assuming the customers know about it.
That said, in the highly competitive and rapidly evolving tech service world, resting on one's laurels is a perilous business strategy. Take a basic tech service like Blockbuster provided with movie rentals and apply it to everything else more technical and complicated-it all shakes out about the same way. When companies fail to anticipate changes in service acquisition behavior, devastating results often follow.
Earlier this week, LivingSocial announced a new service offering called Room Service, which will attempt to deliver a classy dining experience to people's homes. For the launch, 70 Washington, D.C. restaurants are featured in the program, and the fact that the service is not a discount program is a departure for LivingSocial. With Google Offers, Groupon, and many others competing for the local business discount dollar, LivingSocial made a decision to diversify in the face of stiff competition.
Whether this move proves lucrative is a separate discussion, but it does serve as a reminder that today's marketplace demands constant evolution from businesses. The landscape is both global and local, creating competition from places unthinkable even just twenty years ago. As 2011 winds down, analyze your business and project it onto 2012 and beyond. As always, if you need technical help or have any questions at all about growing your business in Lexington, KY, please let us know.