I’ve been thinking about my value proposition as Business Buddy.
What exactly is a value proposition? It’s a clear business statement about the outcomes an individual or organisation can gain from using your product, service or solution. In other words, you need to get them thinking about your value rather than your cost.
- Do you save people time by providing your business product or service?
- Do you make people’s lives easier by providing a solution to their problem?
- What’s so special and valuable about you and your business offering?
I for one have resistance from owners of ‘start up’ businesses because they put emphasis on the cost rather than the value I could bring to their business success. I understand my own ‘worth’ and how I add value to another business but realise now that I need to articulate that in my conversation, at the initial point of enquiry.
The business owner may dismiss what I can offer due to price rather than appreciating the value and benefits of my knowledge. I give advice which can fast track a business against others at the same stage, encouraging the owner to focus their attention. This will prevent undue distractions (which steal valuable time, money and energy), something that ‘start ups’ can’t afford. I give solid and realistic advice that will steer their business in the right direction for success. By working with me I can save them a year (at least) of making mistakes (which can sometimes become very costly) and in turn could cost them their business!
Have you ever thought or articulated what you are worth to your clients or customers? If you’re offering a service, you’re not only offering your time, you bring a wealth of expertise and vast knowledge. As a friend once said:
” as an expert it may only take you a few hours to do the job, but it’s taken you 20 years to be able to do the job in a few hours”.
The customer however, may have wondered why it cost them a certain amount, when it only took you a few hours to complete!
If you sell a product, there may be similar products out there, but have you considered why yours is more valuable to your customer, than your competition? No? Then think about it carefully. It may take you quite a while to fully embrace why your offer is very different, unique, and is of more benefit.
Until you can understand your own value, why should you expect others to automatically understand it?
- Once you’ve understood your value you can feel confident about your pricing.
- After you’ve established your value proposition, you can use it as a selling tool in all of your online and offline marketing.
- Ask some of your current clients why they buy from you and what value you bring to them. This will help you shape your value proposition, and, it may be different from what you think you bring them!