Thoughtful Thursdays – Worth repeating on value

I was browsing through my posts from a few years ago and found one worth repeating on the subject of value. I made a few edits, but the message remains the same.

You have probably heard it before: “Price is what you pay, value is what you get”. Well stated by Warren Buffett and very true.

The difference between price and value, is the benefit to your customer.

Knowing what business you are in will help you determine the benefits you bring to the table, and it is the benefits that create the value in your products/services. The benefits or added value will answer the customer question “What’s in it for me?”

In preparation for the next time someone asks what business you are in, list the key features of your products/services and ask yourself: “So what?” Answering this question will lead you to the benefits. Ask yourself more than once to determine the real benefits.

Instead of stating what you do, your response will address how you help.

Good selling,
Richard

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