“The customer rarely buys what the company thinks it is selling him or her,” says the iconic business Consultant- Peter Drucker. As businesses reopen around the world, business people and employees are eager to provide “value” However the definition of value might have changed in the Customer’s or employer’s minds after the lockdown.
To accentuate this point let’s turn to Albert Einstein’s when he was teaching at the Institute for Advanced Study in Princeton. It was time to set examinations. When Einstein handed over the exam papers to his teaching assistant, the assistant noted that it was the same paper that Einstein had set for that class the year before. The assistant queried the master,
“Isn’t this the same exam you gave this class last year?”.
“Yes, yes it is,” replied Einstein.
Emboldened, the assistant asked, “But how can you give the same exam to this class two years in a row?”
“Because,” Einstein replied, “the context has changed”.
Value is contextual; you might be back to work or in your business doing the same thing but the context before lockdown is different from the context after lockdown for most businesses, employers and employees. For some employers or business owners, value now means urgency, security, regaining significance etc. In the same way, the context of your clients in regard to value might have changed.
Value is the quality obtained by the Customer relative to the price paid.
Find out the context and provide the necessary value necessary. In that way, you will take away the breath of your employer or Customer.