Run time: 59 seconds
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What’s the secret to transforming your pricing, products, and overall business performance? The answer is simple: value. Value isn’t just a buzzword it’s the foundation of sustainable growth.
For a business to survive, it must deliver enough value that customers are willing to pay more than it costs to provide. A business thrives when it can either deliver added value that customers will pay significantly more for or offer the same value at a lower cost.
Understanding your value is the key to both. When you know what your value truly is, you can eliminate inefficiencies, innovate, and spot opportunities to enhance it. If you don’t, someone else will.
Think about it: if Blockbuster had realised its value was “home entertainment,” it would have embraced streaming technology instead of succumbing to it. If Kodak had seen its value as “capturing memories,” it might have led the digital revolution instead of falling behind.
When you focus on the value you bring, you stop chasing trends or copying competitors. Businesses that truly understand their value don’t just survive: they thrive.
So, how well do you understand the value your business provides? If you want a bit of help, why not take Customer Value Scope with me?
Next week, we’re looking at the place of simplicity in communicating value.
Resources
Learn about the Customer Value Scope.
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