How to Build a Value Engine for Your Small Business
Your business exists to solve problems.
The solution has to be valuable enough that another person is willing to exchange something of value in return.
A Value Engine is created when a business can consistently deliver solutions with excellence and generate a profit.
What is Value?
Value is defined as “something is held to deserve; the importance, worth, or usefulness of something.”
Value means different things to different people.
You have to know your target audience and understand what they need to provide valuable solutions.
How Do I Know What My Target Audience Wants?
First, you have to identify your target audience and ideal customer correctly.
Then ask lots of quality questions and listen with genuine interest.
The market will always tell you where to go.
However, will you take time to listen and then take bold action?
How Much Should I Charge?
An amount that:
1. The market is willing to pay for the value provided
2. Generates a sustainable profit margin.
Each pricing scenario has its own nuances; however, your pricing model has to meet the criteria above if you want to create a strong Value Engine for your small business.
Solve Problems with Excellence
Do great work that solves problems.
Act with integrity and provide a quality experience for your customer.
Repeat every single day.
The Best Part
A Value Engine creates something of enormous value.
Raving fans who will do consistently business with your company and tell their friends and family about their wonderful experiences.
Which leads to more opportunities to serve others which leads to more opportunities which leads to….
“You will get all you want in life, if you help enough other people get what they want.” – Zig Ziglar