Define Value | Business Substance

One day, I was given the opportunity by my business friends in Malang (East Java, Indonesia) to charge online (via Whats App) tuition. there were 250 members of the group listening to my content. There was a question-and-answer session, then some members asked. From the experience of these discussions, I concluded that many business people who misunderstand about the meaning of value. So, this article will be important for me to explain it in more detail.

Value, or the value of the product, is something that causes people to want to buy your product. Product Value is the root of the reason why the money flowing into your company. In order to facilitate understanding, I would divide the concept of Value into four terms. In fact, it could be more than four points. But this time, I will discuss four only.

Define Value | Business Substance

1. Need: something higher than “want”.

If you provide something people need, then people will be ready to buy what you offer. Because you have something that is needed by others, and you provide it.

For example: groceries (staple foods). Everyone must buy staple foods.

Let’s take one of them: rice (staple food source for many Asian countries like Indonesia, China, Japan and India). Many people buy rice. And the next question is: where will the market buy the rice. For such a Business (commodities), the price usually becomes a strategic thing. Usually the market will choose the cheaper commodities or the supply which is always available.

Then the fundamental substance of the business is providing what people need. We have to sell what the market/people need, not what we (as the seller) desire.

Define Value | Business Substance

2. Solution: antidote for the problem.

The second value substance which I emphasize is the solution. There are many problems out there that till date there is no solution.

Let’s talk about a helmet wash business. It ever once became famous in Indonesia. In that country, people still rarely heard about helmet wash services. But many bikers actually have that problem: their helmets were wet and smelly. And it was annoying. Once there is a helmet wash business, people want to pay. Because they know that their problem can be solved. There is a solution in the product services.

So, try starting a business value determination by seeing many problems that people have. And try to solve them with the business approach. Then the money will flow to you.

Define Value | Business Substance

3. Better: becoming steps higher.

Back to the issue of staple food source for many Asian countries: rice. The people are in need. But the question is, where people will buy rice when many people are selling rice. Of course they will come to the better place. The meanings of “better” in this case are better price, better stores, better variants, better quality, better in supply. It all depends on which point do market/people put attention.

Define Value | Business Substance

4. Unique: more than being different.

When the products which sellers offer are needed by people. And almost all sellers are equally good, and there is no other way to make it better, then the uniqueness that will make you selected.

In the world of speaker "business"/"service", it becomes crucial. All motivator nearly can motivate, nearly all have great presentation materials, almost all have nice suits, but the uniqueness which makes them selected.

This value is used by my company: KeKe Clothing Group. Everyone can provide muslim kids clothes. Some manufacturers continuously improve quality. But there is a value that we want to generate: unique. The company has continued elaborating the product: daring, decorative, cheerful, and comfortable clothes.

There is actually the fifth point left: to make people feel a need our product. Then makes the other people feel the problems they face and after that you provide the solution: your product. However, a more detailed discussion of this fifth one I save it first as a subsequent discussion material. Hopefully this article helps you to understand the right meaning of value. -Rendy Saputra

Read also the article: the right substance of business.

0 Response to "Define Value | Business Substance"

Post a Comment