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THE VALUE PROP BLOG

The Dangers of Customer Concentration

sales strategy Mar 07, 2018

When our business is doing well, it’s easy to just enjoy the ride and ignore dangers lurking below the surface. But those dangers can emerge at the worst times to deliver damaging blows to our growth, our revenue, and our overall success.

“Customer concentration” refers to the amount of your revenue that relies on a single client. Usually, a business is said to have too much customer concentration if more than 10% of its revenue is reliant on one single client...

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5 Benefits of Face-to-Face Communication

teams Feb 14, 2018

Every day we find ourselves bogged down by social media posts, email updates and long text chains. In an increasingly digital world, where communication is as easy as pressing a button, it’s easy to forget why it’s important to talk to people in person.

Now, I’m not one of those anti-technology people. I don’t like to gripe about millennials and their phones; the way we interact with other people is changing, and that’s okay. There are benefits –...

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Creative Solutions & Japanese Trains

innovation strategy Feb 07, 2018

We’re all aware of the value of creative solutions. Creativity has always been, and always will be, vital to business success. But a lot of us are content to use one out-of-the-box idea every once in a while and call it “creativity.”

In a guest column for FortuneBarbara Dyer, CEO of the Hitachi Foundation, suggests that creativity should be fostered as part of company culture, not just something to turn to when all other ideas fail. When...

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3 Tips to Get Good People to Work for You

culture staffing Jan 24, 2018

We all know that one of the keys to running a successful business is having a good team. No matter what industry you’re in, whether you’re selling coffee or fixing people’s pipes, the people who work for you can make or break your business.

So when it comes to hiring, we all want to get good people to work for us. I know I do. But finding and keeping good employees is a lot harder in practice than in theory. Here are a few tips I’ve picked up on how to...

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Exactly How to Respond to the 7 Sales Objections that Can Kill the Deal

sales Nov 30, 2017

In any serious (complex) sales conversation, objections are bound to come up. You may be tempted to think that objections are big red stoplights – stalling conversations and killing sales. But what if you approached them differently?

To me and most experienced sales professionals, I’ve interviewed over the years, objections are a great sign. It means your prospect is actually considering your offering. Your job isn’t to ignore or sidestep the objections...

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3 Keys to Successful First Sales Meetings

sales Oct 26, 2017

You walk into the meeting. It’s your first time meeting this prospect. You go right into the reasons your product/service is the solution to what you assume is their problem. After all, why else would they have agreed to meet with you? You deliver your product benefits perfectly. You said everything you can think of saying…and yet you leave without a next conversation lined up. In fact, you’re even unsure if you made any progress at all.

So, what happened?

Well, you missed...

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Starbucks and Moving Boxes: How Added Value Gets You Loyal Customers

Starbucks and moving boxes. Yes, you read the title right.

One of my employees is in the process of moving. Being resourceful as she is, she’s been calling around to stores to collect moving boxes for weeks – and one such store is Starbucks. Starbucks gets their big order in once a week; if you find out what day the order comes in, you can call to actually reserve the boxes for pick up.

Not too bad, right? But that’s not what this post is about.

This post is about...

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The Value of “Free”: Why Giveaways Are a Great Marketing Strategy

marketing pricing Aug 31, 2017

Have you ever wondered why companies have giveaways? Do you ask yourself how they make any profit when they’re giving products or services away for free? Well, with a nod to Captain Obvious, people love free stuff.

And they love it, even more, when the giveaway is valuable. Or, at least, if they perceive it to be valuable.

Free doesn’t mean free of value

But, you see, companies know this, and as more studies have come out,...

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Love Song Marketing: Know Your Specific Buyer

Every Song Has A Story:

What’s your favorite love song? Almost everyone has one; whether it reminds you of your high school sweetheart or the first dance at your wedding, love songs hold a special place in our hearts.

Billboard Magazine, the “bible” of the music industry, recently named their Top 50 love songs of all time. While most songs on the list are beloved and well known, no doubt some of them were written without real love in mind – that is, from a...

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Competition – A ValueProp Minute

It’s the subject no business owner wants to think about: our competition. We all want to be the only game in town, but there are some ways knowing the ins and outs of your competition can help (and not hurt) your business. Find out how to compete and win in even the most crowded markets!

 

 
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