Revenue 101 #1: Everything begins with an understanding of value

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If you are thinking about rethinking or reimagining your revenue, it pays to start at the very beginning with your value proposition.

To put us all on the same page, the value proposition simply is the promise you make to your market about the value you will deliver.

In thinking through how you are going to build your business or focus your business, it starts with an understanding of what the value proposition is going to be for your organization.

Earlier today, I saw a tweet from Tom Goodwin about innovation and startups:

The gist of Tom’s argument being that too many people start their business based on some misguided sense of their value proposition.

For all of us, paying attention to what makes us unique is a wise strategy.

How can you do this?

Begin by asking yourself a simple question: “How are my clients better off when we’ve finished working together?”

Then don’t think about the tasks that you use to accomplish that, keep an eye on the outcomes that you create.

Can you frame your work in a way that expresses those outcomes?

Think like this.

If you are a sales trainer, don’t just think about your sales training, explain how your sales training is valuable to your partners.

That might mean you say something like, “We help our partners get set more appointments consistently.”

Or, even better, you might say, “Our training has helped our partners improve the number of appointments they set by 50% in the first 90 days after the training.”

The point being that you take what you do and you make it sing a little bit by putting an outcome around it and showing it in a way that will allow your potential buyers to actually understand straight away what they will gain by working with you.

You can take this example and extrapolate it to any industry.

Here’s the framework:

  1. How are my clients better after working with me?
  2. What are the outcomes they achieve?
  3. Can I explain them in a way that expresses their impact in an easily understandable way?

Does this help?

Let me know in the comments below.

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