Are You Providing Value to Your Customers?

Entrepreneurs start businesses as they have new and unique ideas for products and services. Is this enough to make the business successful? Not really.

Success is only achieved if you create or add value.

Value is created when it solves someone’s need or mitigates “pain.” If your product or service does not do that, you are not creating value. One might feel good about developing a new product or service, but if it does not create value in the minds of potential customers, there is no assurance of revenues.

So, when you launch your product or service ask yourself if you are creating or adding value for your potential customers? Are you solving an existing need or a situation causing them “pain.” If not, why should they buy your product or service?

It is possible that sometimes consumers don’t even know they have a need or pain. In that case your product or service has to be marketed such that the consumer first becomes aware of the void and then realizes that your product or service solves a problem that they were not even aware of.

Consistent success occurs only if you create or add value for your customers.

Ravi Patel

www.patelCFOservices.com

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Published in: on April 28, 2015 at 4:48 am  Comments (2)  
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2 CommentsLeave a comment

  1. Excellent points, Ravi. Before we get to know our prospects, we often don’t know what his/her need or pain is. He/she–as you said, sometimes doesn’t realize it, either. So it’s sometimes challenging to address a person’s need or pain in a 30 second offer when prospecting.

    • Good point Robert. That is true when prospecting with existing offerings. However, if you were to develop new products or services, we need to ensure that they are creating or adding value for the intended customers.


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