6 Traits of Value Companies

What is a Value Company?

No one has all the answers to that question, but here are six of the traits I’ve seen and experienced. (Please share your views in the comments section below.)

  1. A Value Company does things to make customers’ personal and professional lives better. This is why being value-able to customers requires that you understand customer needs before you do anything else. You’re in business to make money, but that only happens when you serve the needs of your customers better than your competitors.
  2. A Value Company thinks of others (customers) first. This seems obvious, but it’s very easy for companies to become insular and make decisions based on expediency, politics, cost, “what we’ve always done” — almost every reason except what customers need.
  3. Value Companies (and their employees) are constantly being transformed and improved. You can’t gaze at your navel (looking inward) and also serve your customers (looking outward). As you get into the service habit, you’ll see more and more areas where you and your company fall short and have opportunities for improvement.
  4. Value Companies don’t sell value, they present it. When you’re talking to customers and developing a servant’s heart toward them, they’ll sit up and take notice. You “get” them, and they’ll reward you for it. No hard sell required. No “finessing” the facts.
  5. Value Companies have a source of creative energy that never seems to run out. When you focus on the customers, on really serving them and providing them world-class value, your company’s creative engine never stops running. You have lots of eureka moments.
  6. Value Companies have more fun. The dirty little secret of a focus on customers is that it makes running a business (gasp) a lot more fun. You stop trying to “trick” customers and start thinking of new and better ways to become valuable to them.

What about those other companies that aren’t Value Companies?

One could make a strong case that most problems in business today stem from under-valuing customers in various ways. If your organization is full of backstabbing, office politics, low morale, and high turnover, it’s probably a safe bet that your organization has lost sight of service and the cleansing power that comes with it.

The truth is that providing value doesn’t cost much, and sometimes it costs a whole lot less. By focusing on what customers care about, you can stop worrying about everything that doesn’t lead to a great customer experience. You get your focus back.

Wouldn’t that be nice?

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