How do you "Create Value?". A simple thing I don't understand
Any books that talk about creating value?
"Value" appear in pairs. Two people who are strangers got married, and value is created. Creating value is creating a relation. Adding value is just work and time. Value is what people are searching for on Google. Value is only relevant to WHO values it. You give the receiver value, he pays you and you value the pay. That's it.
https://youtu.be/uvqaXP__pUk Here is a video about value and price.
Anything you buy is of value to you. If I offer to cut your lawn for $1, you'll think it's great value and pay me. I offered you value. If I wanted $1,000, you'd say no thanks because I'm not offering you value. You buy stuff for whatever price because you think you're getting something valuable in return. You buy food, a new phone, etc, because they offer value of your dollars. People want something in return for their money.
Many on here expect something for nothing. That's not offering value. If I can buy a product from Amazon for $10 with delivery tomorrow, you're not offering value if you charge $30 with delivery net week.
The people that get rich generally offer the most value to the most people. We happily give these people our money because we're getting something great in return.
It's why the bible says that being poor is a sin. If you're poor, it means you aren't offering anything of value to anyone.
One basic way to create value is by making your customer feel like they got things that average people cannot get. Example: limited products, premium products, etc. hence enjoying their sense of "status" and satisfying "self esteem" needs, or the pain of not having self esteem, whatever they psychologists spin it.
If you are still confused. Value is something others are looking for. Creating value means make something that someone is actually already looking for or will be looking for very soon.
E.g. a book on marketing is valuable to those looking to learn how to sell stuff. Yet it has no value if you go and sell it to high school student preparing for a math exam.
Value is "someone will keep what you give". Because it provides enjoyment (as in Coca cola or Tom Hanks movie), or keep the person alive (as in a free meal coupon with no strings attached". Value is beyond needs, wants and desired. Value is what people are hardwired as animals want.
You create value by solving 1 or more customer pain points. Creating a phone that never needs to be charged. You remove pay for free, that is value. If it is dire pain, you can charge a price for them keeping the value.
Question asked by
July 23, 2020, 10:14:47 PM
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How to turn an interest into a money maker. How to attract people, how to stimulate people to pay, how to make profit, how to make relations, how to keep relations.
How much do I have to give my audience so they can pay me something in return? What do they value? what problem do they search for answers on your own? I want to solve that problem.
Brand means name recognition. A lot of people knows what your company does and what you stand for. Brand is result of long campaign of consistent value provision and media cultivation. Brand helps a company reduce marketing cost.
Whether there are buyer willing to pay or not. For that to happen you must provide extreme value. The entire startup process would be based on guess before the validation. Validation happens in a market, not on the street.
Value is what you give customers beyond the price you charge. Value is effective solution to a problem. The price your customer pays reflects whether the problem is big for them and whether your solution is uniquely effective. Value stems from quality and detailed work.
Marketing means bring your product to the market and bring your message to your customer. Marketing is not salesmanship. Marketing is to penetrate the world of commerce through many barriers and existing networks.
Minimally viable business, or MVC, minimally viable company. A company that scrapes by, full of guess and hope and no traction and sales. When you give your customers things for free they all take it. But they never pay and you can never rent a table at the market.
Minimal viable product. A full artifact of a real product. Something that works ALL THE TIME. You can demonstrate the real effect on real people - not to sell hope. The MVP may not have certain non-essential bells and whistles, but it needs to have appeal value.
Customer is king
A business lives at the mercy of its customers. You provide your customers 10 dollars worth of value and they pay you 1 dollar, not knowing that your company only costs 99 cents to provide the item. The value is not the item - the value is what is attached to the item.
Company culture is based on a company making money. Once your workers are paid, they need to have a mission and aspiration so they are not bored everyday and make trouble in the work place.
A company valuation is cash investment divided by the percentage. As long as your story is good, the valuation will keep coming, and the investors will keeping falling into the line.
Return on investment
Investors are either behind family fortune (never work with them) or for rich clients as investment vehicle. Both need returns 2-3 times better than stock market darlings.
Having found what people want, not just what people may need. Your offering and their acceptance is sure, no longer a guess. You can provide it for profit, and you can indeed making living on it. Traction is sometimes called validation. You are no longer a theater. You have touched nature, and found cash vein.