Value Differences and Value Proposition

Value Differences and Value Proposition

In business, if you are a leader you must understand that people you lead probably have strengths and weaknesses in different areas, so do not expect the same performance in all tasks from everyone in your team. Personality type indicators, such as the Myers-Briggs indicator classify people on a spectrum of thinking versus feeling and planning versus intuitive. This serves to highlight that some people are naturally inclined to be organized and enjoy planning, while others prefer to leave things open and be spontaneous. There is no wrong and right way, and different people will fit better into different roles based on their performances and preferences.

In the modern globalized economy, it is also important to be aware of cultural differences. There is evidence that nationalities with distinct culture have different attitude.

In the 1960s and in the 1970s Geert Hofstede carried out a survey on 116,000 IBM employees across forty countries. The study discovered differences in cultural attitudes on a range of areas:

Power distance: The extent to which members of a society consent to power being distributed unequally in organizations, e.g. manager – subordinate relationship.

Collectivism/individualism: The degree to which the society reinforces individual or collective achievement and interpersonal relationship.

Masculinism/Feminism: The division and application of masculine/feminine roles and values within the society, such as concern for others versus aggression.

Uncertainty avoidance: The extent to which a society manages the ambiguity of the future, and if people feel threatened by uncertainty.

Understanding such cultural differences does not mean racially profiling and stereotyping people, but instead appreciating and valuing other approaches.

“We have two ears, and one month so that we can listen twice as much as we speak”. (Epictetus, a Greek philosopher, circa A.D.100). Illustration: Megan Jorgensen (Elena)

Value Proposition

A value proposition is an important and well-used term in business.  A value proposition provides a short summary of the value of doing business with you. Thus to create a value proposition, you should consider the quantifiable benefits that you promise to deliver. This can be worked out by taking the benefits, costs and value that you can deliver (value = benefits/costs).

But do not overestimate the amount of interest you client will have in you. Therefor your pitch should be in the form of a short summary used to quickly and simply define your value proposition. This is known as an elevator pitch, because it should be possible to describe it to a CEO whom you bump into an elevator.

People buy for both rational and irrational reasons. The rational is the most important. It will be based on the business case that you present, while the irrational will be based on how much rapport you have developed with the potential client (frankly speaking, it depends on the answer to a simple question: Did you brighten up his day or make it more miserable?). To appeal to the irrational, it is necessary to be as polite, likable and courteous to the client as possible.

The business world can seem like a giant and faceless bureaucracy. Finding out the name of the right person to talk to, and the getting to talk to them, can be difficult. For example, if you telephone most established companies, the receptionist will tell you they operate under a no-name policy, meaning that unless you know the name of the person you wish to speak to, they will not connect  you to anyone.

Nonetheless, it is very possible to get access to the names, contact details and date you require. For example, in the United States, the titles, names, company names, as well as other information, which sometimes includes the financial details of limited companies, are sold by infogroup data providers and you can find out all the information of millions of executives and companies in order to begin approaching them.

An important tip: Always try to target the most senior executives. It may seem natural to assume that you should not bother the senior executives of a company with the products or services you’d like to offer, as they are, after all, extremely busy, and you should instead approach lowly administrators. However, it is far more effective to target them. Go in at the level of the GEO, Managing Director, and work your way down from there. At best, you penetrate at the most important level of the organisation. Mostly, you will be passed on to deal with someone else. In this case, the person you are passed on to is much more likely to give you his attention because you have been referred to them by their boss. At worst, the boss will not pay you any attention and you’ll be able to go back to the lower level.

By ElBa

People are mainly interested in themselves. With a few exceptions. I’m one of them (Quotes from Megan Jorgensen). Image: © Megan Jorgensen (Elena)