What is Your Value Proposition?

Do you know what your Value Proposition is exactly? You must know it and be able to deliver it each and every day to add VALUE for our clients and customers.

So, what IS your Value Proposition? Many will say something like “Excellent Customer Service”, or “Exceptional Products and Service”. Others will suggest it has something to do with their reputation or their long standing history of excellent performance. I believe it must be stated in terms of a FEELING that they get when they do business with you.

That’s right – it is 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? Does working with you give them a sense of hope and accomplishment? Maybe when they visit your business they are overwhelmed by a sense of calm relaxation. What is it that you want them to FEEL?

This is not a “touchy feely” exercise or activity. This is a critically important assessment of what you are trying to accomplish in your business. We need to realize that most of us do not have a name brand where the satisfaction guarantee is almost certain because of our reputation and brand. Most of us also do not have a product that is so well known, like a Dell or HP computer where our customers don’t need to worry about the quality of what they are buying because our previous products speak for themselves.

Most of us are in a business where it is neither the Brand nor the Product that is the real reason people buy from us. They are buying from us because of the FEELING they get when they do business with us. What is that FEELING that keeps them coming back? That feeling that keeps them from going to the competitor?

If you are scratching your head, then here is a simple exercise for you, ask some of your current customers! That’s right. Ask your customers why they buy from you and not from your competitors. It is unbelievable as to how many business owners don’t take the time to ask their current customers. Maybe it is because they are afraid of the answer. Maybe they are worried that their customer may just say “Gee, I don’t really know why I keep buying from you, maybe I should try someone else!”

Ask them! Ask several of them. Get them to tell you why in terms of a FEELING they get. Then, when you get several who share a similar feeling with you, you will know exactly why they like doing business with you. Think about it, how can you ever know how to replicate what matters if you don’t know what matters? Your customers will tell you what your Value Proposition is or what it should be!

So, a Value Proposition is a difficult stage. It is not an off the wall thought or conclusion. This must be thought about deeply and then researched with some current customers. But once you have your Value Proposition you will be in a position to pick up the pace as you head into the next stages. Hopefully your Value Proposition excites your business and causes enthusiasm to move forward.

Steven J. Beaman is the founder & principal owner of BCSG, LLC, a general business consultancy and coaching organization whose primary focus is independent professionals and small businesses. Steven helps businesses to determine the constraints that are causing them to become stagnant or unproductive. He also assists start-up businesses to determine the roadblocks or obstacles that they may not have perceived. He also guides organizations through the start-up process, rapid business growth, or a turnaround situation. He does this using his wealth of management experience gathered during his over 35 year career of managing a variety of business functions in both small and medium businesses. He has expertise in numerous types of businesses (for profit and non-profit).