What then should a buyer or seller of services keep in mind? I believe the answer to this question lies in three basic concepts:
1. Minimizing uncertainty—A professional service must make a direct contribution to the reduction of the uncertainties involved in managing a business. The proper assessment of a service, unlike tangible goods, usually must take into account the impact of its performance on the client’s business.
2. Understanding problems—A professional service must come directly to grips with a fundamental problem of the business purchasing that service. The successful performance of the service, far more so than the successful production of a product, depends on an understanding of the client’s business.
3. Buying the professional—A professional service can only be purchased meaningfully from someone who is capable of rendering the service. Selling ability and personality by themselves are meaningless.
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