What should service providers keep in mind when developing a portfolio of services?

When developing a portfolio of services, it is essential for service providers to consider how each service fits into both existing and future offerings. This approach ensures that the services are not only aligned with the organization's strategic goals but also that they complement and enhance the overall service offering to customers.

By understanding the relationship between different services, providers can create a coherent and integrated portfolio that meets current market needs while being adaptable to future changes. This strategic alignment can lead to increased customer satisfaction, improved competitiveness, and the ability to respond effectively to new market opportunities or challenges. Additionally, a well-thought-out service portfolio helps with resource allocation, ensuring that the right investments are made to support both current operations and future innovations.

Focusing solely on current customer demands, strict regulatory compliance, or profit margins can lead to a fragmented or short-sighted approach that may not sustain long-term growth or responsiveness in a dynamic market environment. Therefore, a holistic view that encompasses current offerings and future potential is critical for service providers.