Value Is In The Eye Of The Customer

I use lean as a tool with many of my clients to ensure that processes remain focused on providing value to the customer, after all providing the right value to the customer at the right time will differentiate any business in a crowded marketplace.

Specific to business differentiation and growth, here is the formula I apply: RV + RT = IP

Where,

RV = Right Value

What does your customer find valuable? How can you manifest this value?

RT = Right Time

When does the customer need this value? How can you deliver this value quickly and at the point of need? How can you ensure you always beat your competition to the punch?

Increased Profits

Increased profits result from customer satisfaction; customer retention; customer loyalty; customer referrals.

The more focused you are on providing specific and tangible answers to these questions, the greater the value you will provide in the eyes of your customer. Remember that increased value means you can determine your own prices and fees, rather than let the market (or your competition) determine them for you.

© Shawn Casemore 2013. All rights reserved.