Create, Communicate, & Deliver Value

What value do you create for others?

Creating a company is hard. It requires the leader to...

1. Identify an opportunity (pain or gain) that clients want to solve
2. Quantify the cost or value to the target market
3. Create a solution that is cost effective (creates more value than it costs)
4. Hire and develop a talented team to execute on your vision

Juggle flaming torches while riding a unicycle & maintain an aura of emotional stability while leading your team through challenges with confidence...

One thing I have learned is that your business must start with the creation of value for others. That value must be both perceived & real.

Perceived value without real value is a scheme destined to fail. Real value without perceived value will lead to seemingly endless frustration.

I have been involved in or observant of businesses of all four types...

I have made a conscious decision to actively run away from bad ideas where the actual value of the offering does not exceed the cost of the product or service. Sometimes this is hard to figure out and requires "investing" time and resources. Entrepreneurs and business leaders need to be willing to accept failure, cut bait, and walk away. This is not always easy for two reasons.

1. The Ponzi Scheme can be very profitable but is also unethical. Walking away from this quadrant requires first a recognition that the product or service is "snake oil" followed by the fortitude to walk away.
2. The Bad Idea also requires swallowing pride. Admitting that the value creation is just not there can lead to feelings of failure and inadequacy. Recognizing this is challenging, and I have observed business owners hanging on long after most would give up... Why?

This leads us to the 3rd quadrant: "Frustration". Knowing when an idea actually has real value is the first step. Even when you believe in your heart that your idea has amazing potential, you still need to be able to communicate in an effective manner for your customer to understand the value to them...

We call the blue box the "EPS Zone". This is where you want to be. Creating real value & communicating effectively to prospects & clients in a way that they understand the value.

As a business leader, you must determine where you are on the spectrum in order to determine the appropriate action to take.

Run away? Walk away? Create value? Communicate differently?

Which is the right strategy for you to execute within your business?