What’s the number one way you can add value to your business
What is the best way you can add value to your job, to your business, to your products, or to your services so you can be more successful? So we all have one thing in common. We all want more time. We all have demands on our time. Demands of family, and demands and friends, demands of our job. If we run a business, entrepreneurial demands. So driving revenue, driving growth, servicing clients. We have demands on producing things, so producing content, or producing inspiration, or producing learning for others. We also need time to consume, so consuming inspiration, consuming content, consuming learning. There are so many demands on our time. We all need more time. So how do you add value to your business? There are essentially six main ways to add value to a business.
1: Give something better, something more unique, something of higher value by adding innovation, by adding quality to your products and services.
2: Making it more convenient. Making your customer’s lives easier by delivering what you deliver, in a more convenient way for them.
3. Making it cheaper. Operating and competing on price is the oldest game in business, but you have to be careful with that, because essentially when it comes down to it, it really is a race to the bottom, and it’s a very dangerous race to be in.
4. Offering a better customer experience. So if you have direct contact with your customers, and can offer them a real experience, offering a better, more valuable or more unique experience, is a great way to add value to your business.
5: Address changing lifestyles. If your business, product or service can be offered in a way that suits and changes with societal trends
6: Doing what you do faster. It’s as simple as that. The number one answer is don’t waste people’s time. Everyone says it. Thousands of consultants and business managers, and advisors and CEOs say it, Fortune Magazine and Entrepreneur, and Inc. Magazine and Forbes Magazine, they all say it. Speed is the number one driver and a way to succeed in business. So the number one answer is, don’t waste people’s time. People are impatient. I know, I’m impatient. Most people who want to be successful are impatient. Most successful people are impatient. Most customers or consumers are also super impatient, especially when they finally decide that they want your product or your service. They want it right now, and there are a lot of businesses that have made their business, and become incredibly successful, by offering what they do in a fast way. McDonald’s fast-food revolutionized the foodservice industry by offering food in a very systematic and speedy way. There are other businesses like FedEx or Amazon Prime, or Uber Eats, or Jimmy John’s, Domino’s with their 30-minute delivery or it’s free. That promise has driven their business to incredible Heights. People are spoiled, people want things now.
People perceive companies that do things in a quick way, as being better. They equate companies speed with value and competence, and higher quality products and better value. People will pay for speed. I know one agency owner who’s built his entire agency model on speed. He’s got a number one message of his core competency, and that is that they do it faster. He even has a swag tee shirt that just says speed on it, with his agency name. He leverages speed as a competitive differentiator, and it has built his agency business. There’s a great quote by Inc. Magazine that says, speed is everything in business.
Now, not only is speed everything in business, but speed can also help you as a content creator, or creative professional, or an entrepreneur, build an audience. For example, my YouTube videos, most of my YouTube videos are under eight minutes in length. I try to deliver incredible value in a very short period of time, and I get thanked all the time in comments by people saying, “Oh my God, in eight minutes, I learned more than I did in four years in university,” or “You delivered an incredible amount of value in a very short period of a time, and thanks for valuing my time.”I personally hate it when I watch YouTube videos, and the person I’m watching is blathering on and on, for 20 or 25 minutes, about a bunch of extraneous topics, before finally getting to the value or the meat of the video. I feel like they’re not valuing my time. So when people value my time, I put a high level of value on their service. So that’s what I try to deliver when I deliver my videos, and it’s been really successful for me. I get a lot of positive comments about it, and my channel has really grown very quickly because I’m delivering great value, in a very short period of time
So my question to you is, how can you leverage speed in your business? How can you leverage speed in your products, or your services, or your interaction with your clients? Or how you do your day to day work? How can you speed as a competitive advantage in what you do, to add value to your business?
