Business is difficult at the best of times and sometimes its very easy to be stuck IN your business, going into autopilot mode leading you to take you eye off the prize, that end goal..
One of the most important concepts in achieving long term and sustainable success is understanding what business value actually means.
There are multiple levels to business value and when I ask my clients do they understand their business value, I get many answers that talk about USPs, good service, good processes, that are very generic. When I ask them to get specific, I get lots of head scratching…
And when I asked them have they asked their clients.. I get more head scratching.. !
When understanding business value you need to take a multi level approach to
- Understanding business value from your client’s perspective
- Absolutely know the value they are looking for in terms of quality, delivery, support, timelines
- What are the value activities/processes you need to do to deliver that value to your clients
- When you know the value, ensure you define all the value process that will end up in your clients being delighted with your product and services
- That could include after sales service
- Only work with valuable clients
- If you are spending all that time creating that value for clients that change the goalposts, it’s not value to you and in fact can have a substantial impact on your net profits
As when you go deliver value in all those 3 levels you will deliver exceptional value to not only valuable clients but also to your business too, the Win-Win. This provides the foundations for long term and sustainable success.