The primary objective of a business is to get and keep customers. Growing a profitable business requires providing exemplary customer service and products or services of exceptional value.
In the classic book, The Science of Getting Rich, Wallace D. Wattles writes that it is essential to provide customers with more in use value than you receive from them in cash value. Exactly what does that mean?
Imagine purchasing a training course contained on a set of CDs, and that its price is $1,200. Some would consider this rather expensive, especially if they are working with a small budget. The costs of copying a few CDs, and the packaging and shipping costs would not nearly be worth $1,200!
However, suppose you used the knowledge and resources contained in the course to generate several million dollars of income during your lifetime. In this case, you have obtained far more in use value than you paid in cash value. In fact, you might consider your purchase of $1,200 to be a real bargain.
The seller was not responsible for whether or not you would use the material. Nevertheless, he or she provided a product of extraordinary value.
This principle is easy to understand. It is also one of the most essential business practices in today's volatile economy. Just like you and me, our customers and clients are particular about how they spend their money. They deserve the most value possible for each dollar they spend.
Here is a little exercise that is fun to do, and provides some valuable insight. Think about all the companies you've done business with over the past year. Pretend you are holding a personal "Company of the Year Contest." Who would win, and why?
It would probably be the company whose product or service gave you far more in use value than you paid in cash value. It would be one whose product satisfied important wants or needs-one you enthusiastically told your friends about.
Consider also that both you and your winning company benefited when you made the purchase. By using this simple value principle, you and your customers will benefit beyond expectations.
You'll grow a profitable business because you'll get and keep more customers over time. They'll keep coming back and keep giving you referrals because they know you'll give them truly exceptional value!
? Copyright 2005 by Steve Brunkhorst. Steve is a professional life success coach, motivational author, and the editor of Achieve! 60-Second Nuggets of Inspiration, a popular mini-zine bringing great stories, motivational nuggets, and inspiring thoughts to help you achieve more in your career and personal life. Get the next issue by visiting http://www.AchieveEzine.com