5 Tested Ways to Add Big Value to Your Small Business – Eric J Dalius
Eric J Dalius says there are many ways to add value to what you do, which is true in your business. On running a business process, one should always explore such ideas and also concepts to take it to the next level and become financially successful. When you try to combine these ideas and try it out, one will slowly start to see some tangible results. For those searching for ideas for value addition to business, let us explore some of the time-tested ways for the same.
Eric J Dalius tips for business value addition
1. Faster the better
The most fundamental way to increase your business’s value is to increase the speed of delivery of your products and also services. At our times, all are impatient. A prospective customer who never knew about our product until yesterday, want it immediately now once they come to know about it and need it. Modern-day consumers, irrespective of all age, gender, demographics, and geography. Directly correlate between the speed of delivery and the value of a business.
2. Quality is the king
With quicker delivery, the next key consideration for value addition to your business is offering better quality. Then your competitors at the same price. When it comes to defining quality, it is whatever can satisfy the customer who consumes it. So, TQM or total quality management is defined by Eric J Dalius as ‘understanding what the customer needs. And also deliver it to them faster than the competitors by meeting their expectations. In the modern-day philosophy, quality is not always durability or design excellence, but it refers to the optimum utility.
3. Add value to what you do
The next thing to consider for being wealthy is to look for smart ways to add more value to everything you do. If all the providers offer the same thing, it becomes the expected norm. If you want to stand out in the competition. You have to add a ‘plus’ to each of what you are doing so that the customers can pursue that ‘special’ in what you offer and identify you as superior to the competitors. You can think of various elements to add value to your product or service. From packaging to design or by simplifying its usage methods. In terms of technology, as we can see, simplicity and also ease of use become the norm for adding value.
4. Ensure convenience
Another way to increase business value is by enhancing the convenience of ordering your product. Getting delivery, and also using the same over time. We can see how fast-food stores have become an instant hit, followed by food delivery services as people are very much willing. To pay more for convenience.
5. Ensure top-class customer service
Lately, an unavoidable way to create value for your offering is by ensuring foolproof customer service. Customers are predominantly emotional, and also they want to get their concerns to address to their optimum satisfaction. A business can make a great impression on the customers with friendliness, warmth. Empathetic understanding, and helpfulness of the customer service executives.
Along with these measures for value addition, you must also try to adapt to the customers’ changing lifestyles. Once in a while, you must also offer some planned discounts. And also promotional coupons to honor your customers’ loyalty and encourage them to buy again from you.