Fm Evolution

SummaryIn this episode of Service Evolution, Shawn Black and Jim Robinson dive deep into the service industry's current economic challenges, offering a wealth of advice for business leaders navigating recessionary fears. The conversation spans several critical topics, including customer retention, revenue diversification, and cost management, stressing the importance of understanding financial realities in business. Shawn and Jim both additionally emphasize the necessity of having a clear plan and staying organized to steer through turbulent times effectively, discussing how providing exceptional value to clients and setting prices based on deliverables and perceived quality can help businesses maintain their footing. This approach is particularly crucial in ensuring that businesses do not fall into the trap of competing solely on price, which can erode value and quality. Also highlighted is the transformative role of technology in the service industry. By leveraging new tech tools, businesses can enhance eff