From Talks with a consultant who READS management
So, you have business ideas, thoughts and opportunities to work on. And you are thinking about the business model to use. Let us add a concept to what you are doing – the Value Proposition. For now, let me talk about this at the basic sense.
Value and its Importance
Every business product or service is supposed to have “value”, that is, the perceived worth of the good you want to bring to the market which would be monetized or commercialized. Customers pay for the known value of a product or the service that is why it is important to know the value proposition you are bringing to the market. In the basic sense, it may be very easy to see the value of a product or service. Food has its health value or it could be as simple as satisfying hunger with good food. Clerical work not only keeps things in order, it also saves time or supports efficiency. It is about this recognized value that customers are willing to spend their hard earned money.
What to do then? Know your product or service and understand its value, which is the basis of the value proposition. Communicate this value or better yet improve or develop it and then take the next step.
Know more. Visit http://www.reads.com.ph.
Chot Velasquez is a Corporate Digital Marketer for READS Management Consulting. He digi-scribes and writes business and management news articles.