You can add value to your work and the world that surrounds you in seven distinct ways. Each and every one of the ideas that follow can be enough to lead you to financial success. However, as you start combining these notions together, you will see your financial life skyrocket to heights you have never imagined before.
Go As Fast As You Can
One of the best ways to take your game up a notch is as simple as doing the job you are getting paid for, faster. Successful professionals are aware of everyone’s impatience. Someone who did not even know your product or service until a few moments ago wants it last week. To people’s perception, your value, and the speed you are offering it at,are directly associated. The one who delivers fast is automatically considered better, abler and a provider of higher quality, than their slower or opportunistic competition.
Improve Your Quality
The second step towards financial success is to offer higher quality for the same or lower price. Never forget, the customer is the one who decides the definition of quality. The best definition of total quality management is something like, “discover the needs of your customer and meeting them faster than your competition.”
Quality is not confined in a flawless design or a higher endurance. Quality has to do, first and foremost, with usability, appropriateness of the service or product for the need of the specific customer. This is why quality is defined by the customer himself or herself; it has to do with how well your product or service fits in their plan.
Bring More Value
The third way of acquiring more wealth is by actively seeking to increase the added value in everything you do. Don’t forget that if everyone in your niche offers the same thing, then these aspects of the offering become the expected minimum in the market. The only way to make a difference as an individual or as a producer is to make your offering stand out in some way, leading the customer to perceive you as superior to your competition.
Another way of adding value to a service or product is by upgrading the design or the packaging. Moreover, the value increases when you make it simpler to use. Apple Computers revolutionized the computer world by enabling the lay individual to use it efficiently. Apple users are known to claim never to have read the instructions manual. The software is so simple to set up and use that they are literally self-explanatory. Therefore, Apple used simplicity as its primary driver of added value, and so did numerous other brands that followed Apple’s example.
Successful People Invest in Convenience
The fourth way of becoming wealthier is by making your service or product more convenient to purchase or use. The endless numbers of fast food stores are a great example of the concept saying that people are willing to pay a hefty premium for convenience when the alternative is to drive all the way to a distant large shopping center or grocery store.
Customer Service Is Crucial
A fifth way of adding value and becoming wealthier is by upgrading your customer service. People rely a lot on their emotions. They are massively influencedby the friendliness, warmth, cheerfulness and eagerness of customer service representatives. Several companies utilize customer service as their main driver of competitive advantage in a marketplace that never seizes to evolve.
The sixth idea behind wealth creation is changing lifestyles and the way they influence how customers behave and do their purchases across the country. The population of senior citizens is increasing. The general trend throughout the nation favors cocooning, which means to spend more time at home and, therefore, needing a more welcoming and enjoyable home environment. Young people have varying tastes between different generations. Nowadays, there is a greater trend towards travel and holidays, which benefits the leisure, travel, cruise and resort industries.
The variation in lifestyles and demographics can help you take advantage of opportunities by offering a service or product to a distinct market that can increase your wealth relatively fast.
The seventh key to adding value is planned discounting. It entails discovering how to sell increasing volumes of services and products to as many people as possible at progressively lower pricing. It is the practical implementation of the saying that goes like, “If you want to dine with the classes, you have to sell to the masses.”
A fantastic example of this method is the huge success of Cost Co/Price Club and the like, where you have tons of inexpensive products selling in bulk, and thousands of people roaming in from every corner of the country to spend millions of dollars on them, almost 24/7. So, how is it possible to price your fair-quality product or service even lower? How to minimize the production costs and pass the benefit to your customers?
After you start thinking about how to deliver faster, enhance the quality, increase value in every aspect of your offering, make things easier and more convenient for your customers, upgrade your customer service, follow what’s trending in terms of lifestyle changing, and discover how to squeeze further down your costs, you will be amazed from the rate at which new possibilities and opportunities for wealth arise.
Finally, you should keep in mind that insight or an idea about how you could bring value to your customers unlike anything else that the competition is currently offering may very well be the cannon that skyrockets you to a life of wealth and fulfillment.