If you are entrepreneur or work for a company, the most important aspect of your efforts are showing the value of what is being delivered.
Earlier I was in a conversation with one of my mentors and during the course of our conversation he stressed upon two things we need to do as individuals – Present the story well and Quantify value in financial terms.
Presenting the Story
All of us have ideas. Quantifying ideas to demonstrate the value the idea brings to the end user is the most important aspect of getting the message across.
How do you present the story?
Any idea is related to real life, because it is solving an existing problem. Focus on finding the right situation which can depict what you are wanting to solve. Use this situation to create a story and then build your narrative.
When Tata tea was trying to win market share in different states; In the states of Orissa and Maharashtra, tea consumers preferred dust tea instead of the grains. But they needed the strong taste and flavor. So, they offered Tata Tea Premium dust tea in red color packaging. The color red denoted the strength and flavor of the tea. The red color is the story in this narration.
PS: I am using this case study only as an illustration, it is easier said than done ?
Understand the flavors of your idea and depict the story as close to reality as possible.
Value preposition is not just related to financial metrics. It relates to Quality, Maturity of the problem and the solution process – which is the Why? and they way it relates to the end user.
Remember the Jagore campaign which Tata did to bringing tea acceptance to the youth? The campaign had nothing to do with the tea, but what Tata was doing is making their brand penetrate. Today, whenever you say or hear the word Jagore, you immediately relate to Tata and the social consciousness it brings in you. This in tern will play on you when you go out to buy tea when you see various brands on the stands.
This is providing value. Value to yourself and your brand.