Is It Profitable To Deliver Excellence?

Steve Jobs quote. "be a yardstick of quality. Some people aren't used to an environment where excellence is expected."

Excellence is defined as the quality of being outstanding or extremely good. It takes a great deal of effort and resources for a company to deliver excellence, so is it worth it?

Some, especially analyst and COO types, would argue that the focus should be on delivering standardized services and rapid growth. They feel that consumers prefer standardization even if it produces a mediocre experience.

To validate this position, they may point to case studies featuring, big brand chain stores, and they may have a point, when it comes to fast food and retail. However, high-end luxury has always been about experience.

That’s why it blows me away when companies that service high-end luxury buildings, think they can get away with standardized services that are mediocre at best. The surprising thing is, mediocre service has become so common, that many don’t even know that excellence is available.

“Be a yardstick of quality. Some people aren’t used to an environment where excellence is expected.” – Steve Jobs

This creates an opportunity for innovative companies that are willing to pursue excellence. In my opinion, excellence should be required because that is what all our clients deserve.

The question remains, is it profitable to deliver excellence in a competitive market? In my experience, it is, and here’s why I say that.

When people, who have only experienced mediocre service, receive excellence, they will become accustomed to it. Once they know what is possible, they will never want to go back to a mediocre experience. This is why we have a client retention rate that is over 90%.

This keeps us off the hamster wheel. Instead of constantly chasing new business to make up for what is lost, we can keep adding to a growing portfolio.

When managers who have experienced our services move to new locations, they call us. Typically, client acquisition is one of the most expensive aspects of marketing, but not when you can deliver excellence. As those you work with advance their careers, it is only natural that they would want to bring along those who help make them successful. This also contributes to growth.

Another reason is that reputation is powerful. As word gets out, colleagues discover that they don’t have to settle for mediocre service and that they can experience excellence. Now instead of chasing after business, potential clients begin calling asking for proposals!

Of course, there is always the issue of price. Companies that deliver excellence typically tend to charge a premium. This can limit growth, but it doesn’t have to be that way.

Often large companies have bloated admin costs. They spend millions of dollars in marketing and provide extravagant perks and excessive salaries to an army of executives. Instead of using resources to deliver excellence to their clients, much of the money gets funneled upstairs.

This provides a unique opportunity for companies who are willing to remain lean and agile. By focusing more resources on client experience and service deliver rather than admin expense, a company can provide superior service at a competitive price. Outstanding service at a competitive price is a slam dunk from the client’s perspective.

In the long run a company that is structured correctly with a focus on excellence will be more profitable than those who merely seek to deliver mediocre standardized services.