I have one word for you.

No, the word isn’t plastics.

The word is value.

As in delivering value. As in value proposition. As in adding value.

If you’re engaged in a race to the bottom (on price), then you need to acknowledge, at least to some degree, the commoditization of the service you are providing. There’s a reason investors want to know “Why you?” Why will customers give you their money? What is the differentiator? Without one, it is a classic land grab, with a need for very deep pockets to survive the war of attrition.

In the case of food delivery, when customers want food to show up at their door, they mostly care about getting delivered cheaply, correctly, and quickly, and will use whoever gets all that done. Surely price also comes into the mix - for a fungible good or service, it may be the driving factor.

In this type of market, there is also the ability to do an apples-to-apples comparison. Competitors are doing the same thing with the same desired result. It’s objective. Very easy to compare the players.

In my business, it’s quite a bit different.

Yes, there are some simple tasks that are commodity-like in nature. But given the many complexities (only some of which may be known at the start), the number of moving pieces, and the need to be aware of how any given project fits into the big picture, handling more complicated transactions demands a partner that will deliver value.

But given the many complexities (only some of which may be known at the start), the number of moving pieces, and the need to be aware of how any given project fits into the big picture, handling more complicated transactions demands a partner that will deliver value.

Value is not a short contract done quickly, though it can be at times. Nor is it value when someone closes your M&A transaction very cheaply but leaves you facing post-closing liabilities for years down the road.

Like many things, there is a balancing act to be done. Measuring value in the professional services world is different, but nonetheless very real. I’m insistent on delivering it.

Jeff Schwartz is a transactional and banking attorney helping clients across the corporate life-cycle. He can be reached at [email protected] or on Twitter at @JeffSchwartzPL.