So, what’s the color of your Value? or… the coach as the ultimate “color expert”
by Kenneth INGRAMS
Every business owner I speak to these days is concerned about the shift taking place in their business due to a focus on the price, the exchange rate and global competition. The common question is “How can my business compete under these conditions?” My response is generally, you must focus on value in order to differentiate yourself from your competitors. They generally respond, “We have tried that.” I then ask “Have you asked yourself what value really means for you and your client?” and did you know that WIFM is everyone favorite radio station?
The Webster dictionary defines value as “Worth and Usefulness”. Obviously, you feel that your product or service has these qualities or you would not have chosen the business you are in. But have you been promoting or verbalizing to your clients the value you are bringing to the table or are you just stuck discussing price? Well, now is a good time to change the record by focusing on WIFM (What’s In it For Me and your client). Re-condition the way you and your team of professionals think, act and behave.
In 2003 I read the book The Purple Cow. The message in this book was quite simple. “Transform your business by being remarkable.” “Transform your business by being remarkable”. No, it is not a typo; I just thought it was worth repeating. You need to discover what makes your product or service remarkable. There must be something unique that you do that could be considered a Purple Cow. If you cannot think of anything, I would suggest that you become more innovative because every business has opportunities to do great things. Think about the companies that are able to demonstrate that they offer more value in their products or services and the number of customers they attract who are willing to pay the difference. So why can’t you?
Some companies are in a hurry to make money. People might call this greed, but not in the traditional sense of the word. It is greed only if this is the first thing on their minds. This kind of thinking is shortsighted, often self-defeating, and ultimately results in less income. On the other hand, having a strategy where you are committed to providing “value” may be the beginning of your Purple Cow! A business coach will help business people find their true color!
For more ideas, check out The Purple Cow by Seth Godin.
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Kenneth Ingram, Business Coach 