S:0831 Distinction: Adding Value vs. Cutting Costs

(Distinctions are subtleties of language that, when gotten, cause a shift in a belief, behavior, value or attitude.)

 

When the going gets tough in business most folks automatically think of how they can cut costs in order to survive. There’s another way to go.

Remember a time when you, either as a consumer in a retail transaction or as a business person dealing with one of your vendors, were pleased by receiving more value than you planned on. Those occurrences may have been rare, but notice that the ones you remember feel really good. Of course they do; everybody likes to receive added value.

So why not think of how you can cause those feelings in your customers by creating ways to add value to them? When they experience and feel that, you have set yourself apart from the automatic-cost-cutting horde. Besides, cost cutting only leads to a race to the bottom where nobody wins.

Often, adding value costs no money, only some of your time and your intention to add value. Because you want to do business that way, which is no real cost at all.

 

Coaching Point: This Distinction is, of course, applicable to business, but can you think of ways you could add value to the meaningful relationships of your life?

 

Copyright 2011 Steve Straus. All rights reserved.