I recently spoke at an event hosted by Walpole, the association for makers of British luxury goods. And in conversation with the senior executives we all agreed – it is not so much the products you sell that guarantee success but the service you provide to customers.

I have spent most of my career in the service industries. My big winners have invariably been companies that managed to capture customers with outstanding service – be it in retailing, private healthcare, recruitment or financial services. Great service generates repeat custom and loyalty – and word-of-mouth recommendations. Nothing is better at creating a powerful franchise.