Value is a word thrown around a lot, particularly in business.
Consumers will pay more value or to beat your competitors you must offer better value.
Value is often confused with price.
Value is simple.
Value is something that you have which is desired by another. That’s it!
Value and What Happens Next
In a business sense, value could be the perceived benefits or worth that a product or service provides to its customers, stakeholders, or shareholders. It is a measure of the utility or satisfaction that a customer derives from using a product or service.
Small businesses can create value by identifying and addressing the needs and preferences of their target. You can create value by building strong relationships with their customers, suppliers, and other stakeholders.
Once you have understood value and created value, your next job is how to capture it!
