Value Proposition

Do you know exactly what your business’?value proposition?is? You must know it and deliver every day to add value for your clients and customers.

So, what?is?your value proposition? Some might respond:??"Excellent Customer Service" or "Quality Products and Service". Others suggest it has something to do with their reputation or their long history of excellent performance. I believe you could state it better in terms of a feeling?that someone gets when they do business with you.

That's right–a?feeling! Have you ever defined your value proposition in terms of a feeling? Think about it. When a customer uses your product or service, how does that make them feel? Do they get a sense of confidence? Do they feel refreshed or energized? Does working with you give them a sense of hope? Maybe when they visit your shop, a sense of calm relaxation overwhelms them. What do you want them to?feel?

Don’t get me wrong–this is not a touchy-feely activity. Instead, it’s a critically important assessment of what you are trying to accomplish in your business. Let's face it, most of us do not have a name brand, like Coke or McDonald’s, where the satisfaction guarantee is almost certain because of our reputation and brand. And most of us do not have a product that is so well known, like an Apple computer or Kleenex, where our customers don't need to worry about the quality of their purchase because our previous products speak for themselves.

Most of us are in a business where neither the brand nor product is the real reason people buy from us. They buy from us because of the feeling they get when they do business with us. But do you know which feeling keeps them coming back time and again? The feeling that keeps them from going to a competitor?

If you are scratching your head on this one, then here is a simple exercise for you this week: Ask some of your current customers! That's right. Ask your customers why they buy from you and not from your competitors. It is scary how many business owners don't take the time to ask their current customers. Maybe because they are afraid of the answer. Perhaps they worry that their customer might say, "Gee, I don't really know why I keep buying from you...maybe I should try the other guy!"

Stop hesitating and ask them! Ask several of them. Get them to tell you why in terms of a feeling. Then, when you get several who share a similar feeling, you will know exactly why they like doing business with you. Think about it. How can you ever plan to replicate what matters if you don't know what matters? Your customers will tell you what your value proposition is–or should be!

So, identifying your?value proposition?can be a difficult nugget to mine. It is not an off-the-cuff thought or answer. You need to think about it deeply and research it with some current customers. But after you have your value proposition locked in, you will be positioned to really pick up the pace as you head into the next stages of this critical race.

Only?Action?gets you closer to your dreams - do something today that your future self will thank you for."

- COACH?

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