Want to win more business? Articulate your value proposition.
My friend and a business colleague Jonathan Verney posted a very good article on his website that I want to share with you. The approach provided in developing a strong UVP (unique value proposition) to reach potential clients is one that I practice and endorse. While the focus here is on wealth managers, the concepts can be applied to almost any market sector. You can read more on The Five Laws of Business Writing on Jonathan’s blog. http://jonathanverney.blogspot.ca Want to win more business? Articulate your value proposition. It’s amazing how easy it is for us to miss the obvious, simply because we can’t see the forest for the trees. We sometimes forget why were in business. Our knee jerk reaction is to say that we’re in business to make money. If you think that’s the answer.. You would be dead wrong. Making money is the result, not the goal. It’s the after-effect of your day to day efforts to perform and produce and complete whatever it is you do for a living. Because what you do for a living isn’t making money, it’s making satisfaction. Remember that old Stones song: I Can’t Get No Satisfaction? If you can’t satisfy customers and clients in some monetizable way, you won’t be in business very long. Some of my clients are wealth managers. Their job is to manage money for wealthy people. Of course, it’s a lot more complex than that, and while most wealth managers (and financial advisors) understand their value, they forget the big picture. They forget that their prospects and clients don’treadily understand their value the way they do, which is why they need to be told in clear and certain terms. This is why articulating your value proposition is so important to winning new business — and at the same time, so hard to do. (Shameless plug: you can find a whole chapter on value, and value propositions, in Feed the Startup Beast). Anyway, as part of my research for one of my wealth manager clients, I found an excellent article on value props for financial advisors. I’ve emphasized some of the points made, but otherwise left it intact. Even if you’re not in the wealth management business, you might find it useful too. I sure did. Going from Good to Great with the Right Unique Value Proposition BY: KEN HAMAN Financial advisors know there’s a lot of competition in the marketplace...
Read MoreGreat New Book on Startups Now available
A colleague of mine has just released his new book, Feed the Startup Beast Jonathan Verney’s book, Feed the Startup Beast: A 7 Step Guide to Big, Hairy, Outrageous Sales Growth (McGraw-Hill, New York) officially arrived in bookstores this weekend (July 20th). Written with serial entrepreneur Drew Williams, Feed the Startup Beast has been described by Huffington Post and Forbes.com blogger Christine Crandall as “the operating manual for driving market share and revenue in the twenty-first century.” They also have a blog which gives entrepreneurs a variety of tips on how to grow their business. You can find it at www.FeedtheBeast.biz Jonathan also has a blog for small business called “The Five Laws of Business Writing” which helps entrepreneurs and business professionals understand how to tell stories in a business context. You can find it at www.jonathanverney.blogspot.ca...
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