Tom LaForce » Value http://tomlaforce.com Meeting Facilitator, Public Speaker, Trainer & Team Building Consultant Serving the Twin Cities of Minneapolis & St. Paul Fri, 03 Feb 2012 18:09:58 +0000 en hourly 1 http://wordpress.org/?v=3.3.1 The Value Equation http://tomlaforce.com/the-value-equation/ http://tomlaforce.com/the-value-equation/#comments Wed, 06 May 2009 11:21:23 +0000 Tom LaForce http://tomlaforce.com/?p=651 Each day your team’s primary goal should be to create satisfied, loyal customers. Whether your customers are internal or external, the goal remains the same. Your success depends on your customers’ perceptions of the value they received from you. Value can best be defined using the following equation:

Value = Benefits – Cost

Benefits and costs are very personal and usually go well beyond the service received and the payment made. Benefits often include intangibles such as security, fun, and prestige. Costs can include hassle, fear, and unfulfilled promises.

If you want to deliver excellent value, make the time to understand benefits and costs from your customer’s perspective. Once you understand the equation, your job is to make sure that the benefits outweigh the costs. Keep the equation positive, and your customer will be happy. And when the customer is happy, your team wins.

]]> http://tomlaforce.com/the-value-equation/feed/ 0