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Ways To Focus On Adding Value As An Entrepreneur

Whether contemplating starting your own business, or if you’re already a few years down the line as a business owner, these ways to focus on adding value as an entrepreneur may just help to get your focus back.  It’s easy to get side tracked when running your own business with admin and non-value adding tasks.  I’ve had this experience myself and other friends who are entrepreneurs have said the same, whether they work purely for themselves, or run a small team.  This advice is written by Dr. Jeffrey R. Cornwall, Director of The Center of Entrepreneurship at Bellmont University in Nashville, Tenn.

Ways To Focus On Adding Value As An Entrepreneur

Adding Value As An EntrepreneurIt is almost always best to identify and focus on one or two things that will make your business stand out to customers.  Focus on the most important need or problem the customers are facing.  Offer that feature to the customers with excellence in mind, making sure all employees understand its importance.  And make that key feature the heart of all of your promotion and other communication with the customer.

The best way to develop the key features that are at the heart of your value proposition is to listen to your customers, as while you may think you know what the customer wants, most of the time you will not have it quite right.  You will probably have to adjust your product or service to fit with what the customer actually wants or needs.

You may have started with something that is too complex and confusing to the customer.  What you thought would be one of many features of your product may need to become the only thing you focus on.

Once your customers affirm that you are offering the right value proposition, it needs to become the focus of everything you and your employees do every day.

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I changed the title from the original to Ways To Focus On Adding Value As An Entrepreneur for a reason. If you don’t focus on adding value, then you don’t have a business. Businesses don’t survive unless they’re solving a problem in some regard or satisfying a specific need, thus adding value. It may be perfectly obvious to some but to others, maybe not.  I’m not sure about the term ‘value proposition’ – it sounds a little too much like business jargon to me. As Lord Sugar quite rightly points out, be rid of the business jargon and focus on what you’re actually trying to achieve, namely making sales and adding value.  He didn’t it in those exact words, but that’s the gist! A little gem I read recently was along the lines of:‘For as long as you add value to the lives of others, money will come to you‘.