How to Create Value, Really
If you’re like most business leaders, you’re tough on yourself. You can tell if you are by asking yourself if you constantly question if you’re building the right thing, in the right way, or if you have the best tools to make it happen. This blunt approach makes facing issues head on easier, but it’s often more difficult to do than simply following what everyone else is doing. If you’re willing to go it alone, chances are you will create real value for your business.
One trap is overthinking an idea. Resisting this tendency, particularly among highly analytical leaders, can avoid the free fall that often occurs by getting out into the market where true facts and reality can be found. This can be accomplished by both qualitative and quantitative methods. And the results may startle you because the market often thinks about things differently than how you may be thinking about them.
There are four quick steps you can take to create value and their simplicity may surprise you. They all start with getting out into the market.
Step 1—As soon as you get knowledge, share it. Let’s say you go to a conference that is centrally focused on a subject or issue you’re passionate about. Mixing with other like-minded people in and of itself can be extremely stimulating. And let’s also say that while at the conference a brilliant business concept occurs to you. What’s your first instinct? Guard it or share it? Most will lean toward protecting the idea. But if you’re primary goal is to create value for your organization perhaps gaining new attention with your new idea will create more positive energy and interest in your current core business.
Step 2—Share the good, bad and the ugly. This might seem counter-intuitive because human nature always wants to cover up its mistakes and errors in judgment. But the funny part about this is most of the time the marketplace already knows what’s going on because the world today is a much smaller place. And, the market rewards honesty and humility much more than craftiness and sneakiness. Try it out. Do regular business retrospectives to make sure you’re celebrating the good things you’re accomplishing, analyze what you could improve with some tweaks and shifts, and air your dirty laundry when necessary to remain the honest and trustworthy organization your market expects from you.
Step 3—Don’t be swayed by the hot new thing. In the open press and social media—and yes there is a difference—business practices and directions are reported daily around the globe. The world is an open book in many ways and this means that the state of your business should be open to all who are interested. In some ways, it’s nearly a right for everyone to know if your statement of purpose says you are in business to serve your customers and/or employees. So show the numbers and talk about your recent sales performance. Customers and employees alike will admire your transparency and reward you with theirs.
If your core value drives your organization to be better and do better, then what you make or provide will have even more value to those you serve. Just talking about ideas doesn’t prove a thing other than proving you’re very smart. Putting your ideas into the hands of those you serve with honesty and transparency increases your value today and into the future.
Tom Wants To Hear Your Branding Issues:
Tom Marin, Managing Partner of MarketCues, wants to hear from you! Follow MarketCues on Twitter for branding and social media tips, as well as the latest trends. Tom also welcomes emails, new LinkedIn connections, calls to (407) 330-7708 or visit www.marketcues.com. How can he help solve your branding issues?
Note: If you are a printing company or product/services company serving the print-media market, and would like to be considered for a feature in this blog, please contact Tom Marin for an interview.
Tom Marin is the Founder and President of MarketCues, Inc., a national consulting firm. He has worked for some of the world’s largest corporations and middle-market firms. Tom’s focus is to help CEOs drive their strategy shifts and strategic growth programs. Follow MarketCues on Twitter. Tom also welcomes emails new LinkedIn connections or calls to (919) 908-6145.