The Entrepreneur Forum | Startups | Entrepreneurship | Starting a Business | Motivation | Success

The Definition of Value

Accelerate wealth. Build a business that pays freedom. Join more than 70,000 entrepreneurs and register for the Fastlane Entrepreneur forum. Remove ads? Join the INSIDERS.

Einfamilienhaus

Bronze Contributor
Read Millionaire Fastlane
I've Read UNSCRIPTED
Speedway Pass
Feb 8, 2019
202
369
182
What is your personal definition of Value?

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

MJ DeMarco

Administrator
Staff member
EPIC CONTRIBUTOR
FASTLANE INSIDER
Read Millionaire Fastlane
I've Read UNSCRIPTED
Summit Attendee
Speedway Pass
Jul 23, 2007
32,501
123,807
3,751
Fountain Hills, AZ
Something worth MORE than the money I exchange it for.
 

Einfamilienhaus

Bronze Contributor
Read Millionaire Fastlane
I've Read UNSCRIPTED
Speedway Pass
Feb 8, 2019
202
369
182
@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!
 

bracknelson

Contributor
Oct 28, 2020
61
26
45
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

Administrator
Staff member
EPIC CONTRIBUTOR
FASTLANE INSIDER
Read Millionaire Fastlane
I've Read UNSCRIPTED
Summit Attendee
Speedway Pass
Jul 23, 2007
32,501
123,807
3,751
Fountain Hills, AZ
"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!
 

Fox

Legendary Contributor
Staff member
EPIC CONTRIBUTOR
FASTLANE INSIDER
Read Millionaire Fastlane
I've Read UNSCRIPTED
Summit Attendee
Speedway Pass
Forum Sponsor
Aug 19, 2015
2,961
20,759
4,306
Europe
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.
 

socaldude

Platinum Contributor
FASTLANE INSIDER
Read Millionaire Fastlane
I've Read UNSCRIPTED
Speedway Pass
Jan 10, 2012
1,814
4,164
1,016
San Diego, CA
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

Gold Contributor
Read Millionaire Fastlane
Speedway Pass
Apr 28, 2017
723
2,094
553
Eastern Europe
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.
 

Beebop27

Contributor
Read Millionaire Fastlane
Jun 22, 2020
65
65
110
Sydney, Australia
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).
 
Last edited:

jsk29

Silver Contributor
Read Millionaire Fastlane
I've Read UNSCRIPTED
Speedway Pass
Jul 30, 2014
229
710
290
US
Fulfillment of a desire.
Usually, one that reinforces a self-image.
 

Sponsored Offers

MARKETPLACE Fox Web School "Legend" Group Coaching Program 2021
Hi - I sent out some emails with the updates but I'll PM you now also, thanks. The issue is...
  • Sticky
MARKETPLACE NEW: The Best School for Going Fastlane (Now open for summer enrollment)
Read the free book, some excellent insights. I also did the website quiz and I did a visual on a...
MARKETPLACE Not sure how to start? This free book will teach you how to build a successful web design business
Hi Fox. Starting the book and got through the introduction. Had a conversation with Andy Black...
  • Sticky
MARKETPLACE You Are One Call Away From Living Your Dream Life - LightHouse’s Accountability Program ⚡
Chris is super sharp and is aware of many facets of entrepreneurship and can help get your...
Introducing MJ's Personal Unscripted Network, Join Now for FREE!
Any chance to make it available outside of US? It has been available outside of the US on...

Forum Sponsor

Learn Fastlane Business Skills & Get Profitable Within 30 Days...

Get Started Now

New Topics

Fastlane Insiders

View the forum AD FREE.
Private, unindexed content
Detailed process/execution threads
Ideas needing execution, more!

Join Fastlane Insiders.

Top Bottom