7 Ways To Add Value To Your Business
There are seven secrets to add value in your job and in the world around you. Any one of these ideas or concepts can be sufficient for you to become financially successful. When you begin to combine these ideas together, you’ll begin to move ahead more rapidly in your financial life than you ever have before.
The Faster The Better
The first way to increase value is simply to increase the speed you deliver the kind of value people are willing to pay for. Successful people know everybody is impatient. A person who didn’t realize that they wanted your product or service until today, now wants it yesterday. People perceive a direct correlation between speed and the value of your offering. A person who can do it for you fast is considered to be a better and competent person offering a higher level of quality than a person who does it slowly, or whenever they get around to it.
Offer Better Quality
The second key to creating wealth is by offering better quality than your competitors at the same price. And remember, quality is whatever the customer says it is. Total quality management can best be defined as, “Finding out what your customer wants and giving it to him or her faster than your competitors.”
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Quality does not just mean greater durability or excellence in design. Quality refers, first of all, to utility, to the use that the customer needs to put the product or service. It is the customer’s specific need, or the benefit that the customer seeks, that defines quality in his or her mind.
The third way that you can become wealthy is by looking for ways to add value to everything you do. Remember, if everyone is offering the same thing, these factors of the product or service become the basic minimum, or the expected norm in the market. If you want to stand out as a person or as a producer, you have to “plus” whatever you are doing so that your customer perceives you and your offering as being superior to that of your competitors.
You can add value to a product or service by improving the packaging or the design. You can increase its value by simplifying its method of use. Apple Computers transformed the entire world of computers by making them easy to use for the unsophisticated person. One of the claims of many Apple users is that they have never read the instruction books. The programs are so easy to set up and use that they literally explain themselves. Simplicity became an enormous source of added value for Apple, and for countless other companies that have followed the same route.
Successful People Increase Convenience
The fourth way of increasing wealth is by increasing the convenience of purchasing and using your product or service. Fast food stores by the thousands are a simple example of how much more people are willing to pay for convenience than they are if they have to drive across town to a major shopping center or a major grocery store.
Customer Service Is Essential
A fifth way of creating value and increasing wealth is by improving customer service. People are predominantly emotional. They are greatly impacted by the warmth, friendliness, cheerfulness and helpfulness of customer service representatives. Many companies are using customer service as a primary source of competitive advantage in a fast changing marketplace.
The sixth key to creating wealth is changing life styles, and the impact they are having on customer purchasing patterns and behaviors throughout the country. More and more people are becoming senior citizens. There is a national trend toward cocooning, or staying at home more and to making the home environment more enjoyable. Young people’s tastes are very different from the tastes of young people a generation ago. More people want to travel and take vacations, thereby creating a boom in the travel, leisure, resort and cruise industries.
Changing lifestyles and demographics can create opportunities that will enable you to offer a product or service to a clearly identifiable market that can make you wealthy in a short period of time.
The seventh key to creating to wealth is just planned discounting. This involves finding ways to sell higher and higher volumes of products and services to more and more people at lower and lower prices. You’ve heard it said that, “If you want to dine with the classes, you have to sell to the masses.”
You see incredible success stories like Price Club/Cost Co offering warehouses full of bulk, low priced product, selling by the millions and tens of millions of dollars with people coming from miles around and jamming the parking lots from dawn until dusk. How could you offer a product or service of good value at an even lower price? How could you squeeze out the costs of getting that product or service to the customer and pass the savings onto him or her?
When you begin thinking of increasing the speed at which you deliver your product or service, improving the quality, add value at every stage of production, increasing the convenience for your customers, giving better customer service, catering to changing lifestyles and trends and finding ways to reduce the actual cost, you will be astonished at the incredible number of ideas and possibilities that exist around you.
And remember, one idea of insight for benefiting customers in a way that no one is currently offering can be the spring board that launches you into a life of financial success and achievement.
Thank you for reading this article on excellent customer service and how to add value similarly to other successful people today. Please share and comment below!
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