Jul 7, 2020
Determine what to build by understanding value
There are two steps.
- Understand what is valuable.
- Determine what to build.
Not all value is valuable
Every customer/client has different values. They interpret value differently. Focus on clients that value wealth (quality of life, health, relationships, freedom, cleanliness). Don’t focus on clients that value status (titles, appearances, win-lose games, competition, selfishness). Doing so will increase the likelihood of creating true value.
Create value for the client
Increase the client’s wealth. Improve their quality of life, improve their health, their relationships, and give them more freedom. The best part is you will become more wealthy too. By choosing to work with clients that value wealth > status, you signed yourself up for the win-win game.
What to build for your clients
Build a product that will make the client more wealthy. Either it will make their relationships better by enabling communication. Improve their health by tracking their blood sugar levels. Improve their cleanliness by cleaning their office. Commit to making them wealthy. For us, we help our clients by building digital products that automate daily activities. This allows our clients to focus on new and exciting initiatives.
Freedom is at the core of automation. When you automate an essential activity, you free yourself to explore nonessential activities. We work with clients that value wealth. We help them free themselves and their employees. When making decisions about what features to implement we are hyper-aware of what will actually free the client. Instead of focusing on what might appear to free the client.
Do the math
It is important to show the client how they will become more wealthy. A client may not initially see the value of a $60k automation. In this case sum up the cost of activities that will become nonessential because of the automation. That sum ended up being $100k/year and the purchase became a no brainer.
There may be an activity that costs the client $100/day. The activity must be done 5 times a month, therefore the activity is costing the client $6k per year. Let’s just say the automation required is very complex and doesn’t seem worth it. Sometimes it is not. Here’s how we tell. Let’s say the automation will cost $25k and will save the client $6k per year. You should build the automation if it will enable revenue-generating activity that is not currently possible. You should build the automation if it will increase the quality of life of the employees. You should build the automation if it will lead to more freedom. You should build the automation if it will lead to more safety. You should not build the automation if the client will not become more wealthy net.
