Why Adding Value Changes Your Business Model
three basic methods for organisations to provide value
The currency of all businesses is adding value. As a result, your purpose is to guarantee that your goods or services remain valuable to your target audience by aligning with their needs, wants, and desires.
This mindset of adding value is what keeps successful and emerging enterprises teachable. Without it, you can think you know what your target market wants yet end up being completely wrong.
So identifying their needs and creating solutions is the essence of innovation. Now, leadership is the ability to identify the changes that need to be made to keep the organisation relevant and operating at optimal performance to serve its market.
There are three basic methods for organisations to provide value:
- Innate Value
These are need-based values like the need to eat, the need for shelter, the need to belong, and the need to be seen and heard. When you add innate value, you are catering to the universal wiring of the human soul.
- Perceived Value
Perceived value is built on the understanding that the consumer is prone to seek what is best for them. Therefore, as a marketer, your role is to position, promote, and provide a story around your service or product that translates into value for your audience.
Understanding how your audience perceives value gives you the ability to influence their decisions.
- Aspirational Value
The human psyche is programmed to achieve or gain whatever it considers valuable. Success, health, social status, relational joy, and so much more are examples of these things. This form of value creation inspires and promotes itself as the medium through which your audience will experience the richness of life.
I hope you can now understand how creating value is just the core function of a business and an organisation. I believe your business will become more effective if you adopt this lens and philosophy of business.
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