In a world where information about the latest trends in any industry can be just a few taps away on our mobile phones, many people might point out that by merely reading articles or following feeds which everybody else can access, we’re only running to stand still. Truly standing out from the crowd and gaining a competitive edge may be possible if you can predict the next big thing – which takes a lot of luck, and might not be possible on a consistent basis.
The more feasible way of earning a distinction in any undertaking is through added value. You may be familiar with this concept if you’re into business or real estate; it’s how a startup IT company can compete in the bustling Utah tech scene, and it’s the proposition behind many profitable Salt Lake City home remodeling projects. By consistently adding value, the chances of success in any endeavor are increased without having to ride on fickle trends or people’s whims. Here are three ways to harness this principle.
Adding value to products and services
It’s easy to point out the many innovations which have changed various industries over the years; what you may not see are all the thousands of proposals and failed inventions that didn’t make any impact. Yet these efforts all cost considerable time and money. Many businesses prefer to lean conservative in this manner, and the result is that markets get flooded with products and services that are incredibly similar.
Adding value enables a company to set itself apart, earning consumer loyalty while also getting them to spend more. Apple products, for example, tend to cost more than those of their competitors, because the company elevates them with investment in design. Similarly, in sportswear, companies such as Nike or Adidas sign endorsement deals with elite athletes so they can offer the added value of a shared experience to sports enthusiasts.
On the personal level
Prospective employees frequently get asked what they can bring to the hiring company or organization; this question is really all about the added value on a personal level. Any diligent employer would have already listed the requirements of the position in question, which means that all applicants who made it thus far will be on a level playing field in terms of these skills; they want to know what sets a candidate apart.
Understanding and applying the concept of added value to your career can greatly benefit progression and job satisfaction. For instance, you might realize that being extremely efficient in your work saves time for the team, and is your main contribution of added value, which boosts team performance and morale and give you the advantage when seeking out a promotion.
Seeing things differently
When you start to chew on the concept of added value and see how other people and organizations are using it to succeed, you’ll also understand that value is a subjective thing. What you might want in a product or service, or appreciate in a person’s skillset, might not be what the consumer or client is looking for. Thus, before value can be added, the ability to empathize and really listen to the goals of a target audience is necessary. This sort of enhanced perception will, in turn, drive the effectiveness of your efforts, and can help with things like task prioritization since you know where to really work your hardest and bring in the desired results.
Grasping the essence of adding value can be a game-changer for people and organizations; keep on learning and finding ways to apply this concept for success.