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The Value Add In Your Business

Professional Development 2 Comments on The Value Add In Your Business 372

I had someone ask me the other day about why their business wasn’t succeeding. It was a business in the service industry, not unlike the business of a Managed Services Provider in the technology world. Trying to give some useful advice, I began asking about the services being offered. What struck me during the entire conversation is that I didn’t recognize, see or otherwise understand what the ‘value add’ was. In other words, what made this person or this business better than any other offering the same thing. Why should I choose him over Billy Bob Joe down the street ? It’s very important to ask yourself this and consider this when you begin building your business. It becomes part of the overall design and strategy of your business.

Your ‘value add’ can be anything really, as long as it’s something that your customers and clients can relate to. Maybe it’s the fact that you’re cheaper than everyone else. Maybe it’s the fact that you present yourself as being the most knowledgeable. Maybe it’s the fact that your turnaround time on your service is quicker than anyone else. Maybe it’s the fact that you offer your services 24/7. The list goes on and on, but the important thing to remember is that you need to identify what your value add is and you need to understand and develop a strategy on how to communicate it.

Contrary to popular belief, most small businesses don’t fail because the idea was bad, they fail because the execution of the idea was not thought through and acted upon properly.

Author

Martin Lehner

Martin Lehner is an technology professional working for an IT services firm in Whitehorse, Yukon (Canada). He has been working in the technology field for over a decade. With a degree in Business Admin and numerous industry certifications, Martin leads a team of IT professionals that provide third party support for clients. Originally starting a company to offer web development services, Martin quickly realized that clients wanted the entire spectrum of technology services. When Martin is not at work (which is not often, since his company offers 24/7 support), he is busy at home spending time with his family.

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2 Comments

  1. Katy Pillman January 9, 2016 at 9:17 am

    It is truly important to add that “value add”. I find an easy way to do this such as donating some of the income to better the world, such as helping families who supporters died while serving the US. And than this also brings in some new customers at the same time. But note, some of these can draw away customers, such as people who don’t support the idea of Military, may be drawn away from my company’s products. So there are usually always fall backs to these “add values”, such as some people have the mindset “The more I spend, the better it will be” so a lower sale price for your product will not interest someone like that.

  2. Mark February 24, 2016 at 7:16 pm

    This is good clear advice! Even if I thought I already knew about the value add in business it is good to be reminded again.

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