Creating Value

Creating Value

Creating value for customers is the foundation of any successful business. Adding value through complements and substitutes can help businesses to increase customer satisfaction and retention. Complements refer to additional goods or services that can help customers to get the most out of their purchase. Examples of complements could include warranties, installation services, or training. Substitutes are products that provide the same purpose as the original product, but at a lower cost. Substitutes can help businesses to increase their reach and customer base by offering a cheaper alternative to their main product. Ultimately, the goal is to provide customers with the best value for their money. By adding value through complements and substitutes, businesses can ensure that their customers are satisfied.

1.-Creating Value for Customers

  1. 10x your income and offer it at 1x to your clients
  2. Build your personal brand
  3. Create a content flywheel
  4. Grow a profitable business
  5. Choose your niche and win
  6. Drive revenue through organic strategies
  7. Create a system for growth and revenue
  8. Generate 100x more organic leads
  9. Leverage repeatable frameworks
  10. Build your brand and community
  11. Dial-in peak performance
  12. Get to financial freedom

2.- Adding Value Through Complements

Learn to identify complements, understand the difference between a complement and a substitute, discover the power of complements as a competitive advantage, create a customer journey map to discover complementary products and services, competing with Network Effects

3.-Competing With Network Effects

Explore the three types of network effects and how they increase the business by directly connecting users, learn how to compete against dominant platforms, analyze the marketplace to determine how to lift business in ways that don’t rely on scale

4.-Creating Value For Talent

Discover ways to make work more attractive for your employees, understand the difference between lowering business and reducing compensation, explore workplace flexibility and learn ways to make work more attractive, create an employee journey map to find ways to improve the employee experience, explore the elements of the Good Jobs Strategy

5.-Mastering Productivity

Discover why some companies are more productive than others, explore the power of economies of scale and minimum efficient scale, learn about opportunities to share value with your suppliers, identify ways to improve supplier relationships and determine the difference between good management practices and productivity

6.-Implementing Strategy

Learn to move from strategy formulation to strategy implementation, discover the importance of prioritizing strategic initiatives. learn to differentiate initiatives in a way that make them difficult to imitate, determine the most important value drivers for your customers and employees, create a value map for your company, explore ways to prioritize the most important value drivers to grow your business

Author: Lom