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3 Steps to Building a Killer Value Proposition

BY Eddy Hood In Profitability On Oct 26, 2011 With 0 Comments

It's no secret that we're accountants at Ignite Spot, but is that what we really do? No.

We're actually in the business of helping people take in more oxygen. That's right - we help CEOs to breathe better. Business owners don't hire us because they need their bookkeeping or tax work done. They hire us because they are downright sick of worrying about their bookkeeping and taxes being done incorrectly. They worry about cash flow, taxes, mountains of paperwork, and the sheer stress of having to deal with it all. So when people ask me what it is that we do - I don't say we're accountants. I say that we're in the business of helping business owners breathe. After all, that is the real reason we get paid.

So what is a value proposition anyways?

Your value proposition is the core of what you do. It is what you promise to your customers in one short sentence and it's what they expect to receive if they buy from you. Period.

[quote]So here is the question for you. What is the real reason that you get paid?[/quote] Do you know the true needs of your clients or are you just another guy in your industry? Let's be honest here - there are millions of accountants in our industry that don't know their true calling. They diligently work to create reports that ultimately end up in the trash while the business owner remains stressed out.

 

Here are a few more examples if you don't believe me:

  1. Oreo doesn't make cookies. They're in the business of providing momentary bliss.
  2. Nike doesn't make shoes. They're in the business of making you cool.
  3. A plumber doesn't fix toilets. He's in the business of making a home smell better. (Mold stinks).
  4. Chap Stick doesn't provide chap stick. They're in the business of getting people kissed.

 

Here are 3 steps to helping you identify your real value proposition:

  1. Stop labeling yourself by your industry, i.e. stop saying "I'm an accountant" or "I'm a florist." It's boring and it glazes people over when you're at a networking event.
  2. Ask your current or future customers why they really hired you. Don't skip this step. It's important.
  3. Fill out the following statement - "I am in the business of_____________________"
Once you know what it is that really earns the money, you can focus on that and stand out from the crowd. As such, we put a lot of effort into helping our clients breathe easier.
I would love to get some comments from our readers on this one. Take a minute to leave us your thoughts on what your true value proposition is. Tell us what your business really does in the space below.

My name is Eddy Hood. I've coached over 500 businesses on how to become more profitable. I'm the Founder & CEO of Ignite Spot, and I have mad parallel parking skills.

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