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The Definition of Value

Einfamilienhaus

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What is your personal definition of Value?

What are the bulletproofed pillars/concepts for you to create it?
 
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MJ DeMarco

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Something worth MORE than the money I exchange it for.
 

YouCanDoThis

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Something worth MORE than the money I exchange it for.
Can't remember where I got it from, but someone defined the whole exchange with a bargain. As long as someone feels they got a bargain, you provided more value than they thought the money was worth.
 

Einfamilienhaus

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@MJ DeMarco @YouCanDoThis Thank you for your answer!

I think my question was unfortunately unclear. The question was not related to a customer's perspective, but rather to creating value from a company's perspective.

What is the right way to communicate Your Company's Value to the client? What kind of system have you developed to improve the communication between the client and your Company's Value? How do you proof your values?

The question is maybe too general because it is based on your industry, profit margin, product/service, target group....

For example: I'm a small Web Designer. The easiest way to communicate my company's value to the client is based on the factor Time.

Most of my clients are 40+ years old. In the morning their are business owners and later in the evening they are private persons. They have to manage their family like taking their children from school, prepare the meal and bring them to their sports activities and so on, which can be really stressful. And nobody wants to spends hours to find out how to change the colour button or why this time the product picture isn't uploading properly.

So I help my clients to better invest the saved time into their own family life. As a result, customers also create a healthier private life alongside the business life.

Communicating the company's values in this case on a deeper level is much more effective than just saying: "I am the fastest Web Designer in the world"

So back to the question: "How do you communicate Your Company's Value to client?"

I hope this question is not too private!
 
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bracknelson

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For me, value is all about passion, hard work, and trust. These triplets make the word 'value' into valuable. Value is much more than money for me. If you are valuable you make money easily.
 

MJ DeMarco

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"How do you communicate Your Company's Value to client?"

You show them why their life would be better with your business, than without. And the money exchanged for it is a bargain.

You don't sell a website, you sell the benefits that the website can offer. Example: With our website, you get more leads, reduce telephone interruptions, and get more orders!
 

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100% as @MJ DeMarco said.

People don’t really buy the website - they buy the change it gets them and the results that follow.

To better communicate your value find out what they value most first. Then illustrate what you can do to help in that area. Using your example it’s time - if they work with you they save time and energy to do other things.
 
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socaldude

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I guess in this context the definition is more microeconomics centered.

Value is something that has utility. It’s a transaction. The intersection of scarce money and scarce resources. How can you give someone a better bang for their buck.

But you as the producer and entrepreneur you are dealing with a wide range of economic forces that go beyond what the consumer “sees”. What if from a macro perspective there exist a kind of perfect competition where it’s really difficult to compete because powerful efficiencies.
 

Black_Dragon43

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What is your personal definition of Value?
I agree with @MJ DeMarco ’s defintion as well. If you want to phrase it in a very scientific & rigorous way, you can go with “Value is utility minus cost”.

When you’re trying to communicate more value, you either want to increase the perceived utility of your solution or decrease its perceived costs.
 
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Beebop27

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What is your personal definition of Value?

What are the bulletproofed pillars/concepts for you to create

Somehow communicate the problem you are solving for them.

ie. "we do the x,y,z so you can focus on the more important things in life, like spending time with family"
Would you rather spend an hour with your kid, or an hour doing x,y,z. How much is your time worth?

or this one...


"At Vanderlay Industries, we pride ourselves in making only the finest webpage taylored to suit your business. Our specialised team makes your web site from a to b, so you can focus on the more important things in life (then have a pic of a dad holding his son... or for shts and giggles, put a pic of a wife yelling at her husband).
 
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jsk29

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Fulfillment of a desire.
Usually, one that reinforces a self-image.
 

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