As it turns out, “We get paid for bringing value to the marketplace. It takes time, but we get paid for the value, not the time.” says Jim Rohm- American Entrepreneur.
Let me put things in perspective; you get paid a salary for the value you bring to that Organization. Your business pays you dividends for the value you create for your Customers.
But what is Value? Do you understand it? If you don’t, you will struggle to create distinction, frustration will fill your days and you will quit. This is true for employees and entrepreneurs.
Recently Xander (my seven-year-old nephew) found me reading a book and I had highlighted a statement that had the word value in it. The statement was, “In the market you need value…” So he picked up the book and started reading out loud,
“In the mar-ke-t you need va-va-lu-e” at this point he stopped, looked at me and asked,
“Uncle, how do you pronounce this word?”
“Xander the word is va·lyoo”, I replied.
“What does va·lyoo”, mean”, he asked.
Here is how I explained VALUE to Xander;
“The first reason why people build or buy houses is to protect them from wind and rain. Are we living in this house just because it protects us from wind and rain? No! For it to protect us from wind and rain, all it needed to have were walls without plaster, a roof and doors, yet it has more.
Firstly, it has the best paint, artistic chandeliers imported from Turkey, lots of storage and parking space, an immaculately designed floor and outside we have hybrid green grass that can withstand the heat from the sun.
Secondly, it is located near the city so I don’t have to travel for long distances to get to work, it has a kitchen, it is near the banks, cinemas and restaurants”
The extras of the house I just described is what I call value.
Here are some take-aways from this blog post;
- Seek to understand your customer; what Value he or she is looking for then go out and create it-Don’t find Customers for your products, create products for your Customers.
- Value is subjective.
Remember, “The customer rarely buys what the Company thinks it is selling him or her.”
Go create value