A few weeks ago, I wrote a post about the 30 Things Your Customers Care About Most. I summarized a study that was published in the August 2018 issue of Rotman Magazine where the authors presented “The Elements of Value” model for consumers and for business to business.
That post described the Business to Consumer model while this post summarizes the Business to Business Elements.
The B2B Value Pyramid
According to the authors and their research, there are 40 fundamental building blocks of value in the B2B model. These 40 elements organize nicely into a four level Maslow Hierarchy of Needs pyramid. They are shown in the diagram below and, for the most part, the model is quite easy to follow.
The book review for this week is Linchpin by Seth Godin.
Godin is simply an outstanding author and this book proves it once again! Linchpin describes how each of us needs to approach how we deliver our unique genius to the marketplace. Linchpins are the mapmakers of society. They are the people who drive our world forward through the application of their skillsets and talents. Each of us needs to strive towards this mindset and build our organizations to create and develop Linchpins.
My takeaway from this book is that everyone can be a linchpin. Godin suggests that we need to do the following seven things in our quest to become an indispensable linchpin:
It is no secret that the value you create for your customers with your products and services will either make or break your business.
But did you know that “universal building blocks” of value exist and you can leverage these to create, bolster, and propel your business forward?
In the August 2018 issue of Rotman Management, Eric Almquist and Jamie Cleghorn presented “The Elements of Value” models for consumers and for business to business. These models are based on their extensive research and fit nicely into the Maslow Hierarchy of Needs framework. This post provides the basics for their Business to Consumer model.
The Consumer Value Pyramid
According to the authors and their research, there are 30 fundamental building blocks of value in the business to consumer model. These 30 elements organize nicely into a four level Hierarchy of Needs pyramid. They are shown in the diagram below and, for the most part, the model is self explanatory.
Recently, I was a guest on “Ideas and Stuff”, a Calgary based podcast (episode 50). One of the questions they provided in advance for me to think about and prepare for was; “If you could go back to the day you started your business/career, what would you tell yourself?”
As it turns out, we had a great conversation during the podcast and never quite got to this question! However, the question did really get me thinking.
If I could back up my career, what do I wish I knew that would make a big difference?
As many of you know, I am an electrical engineer by education and practiced in this field for quite a few years.
As engineers, we are forced to focus on numbers, formulas, Lagrangian multipliers, and other theorems that would give most people nightmares! However, as the Dilbert stereotype so aptly illustrates, we are generally not taught the basic things about effective communication, teamwork, or leadership!
So, what would I tell myself if I could go back to the day I started my career?
A few months ago, I attended a key note by Marshall Eizenga where he explained that each of us holds value statements or value definitions in our minds. These value statements define how we think, act, react, and respond to the events around us. As such, value statements have a profound impact on our success and the success of the things (e.g., our businesses) and the people that we influence.
There is no one set of “correct” value statements. Rather, we are all products of our environments and our value statements are created throughout our life. They are a product of our experiences and our interpretations of these experiences. Each of us can experience the same thing but form completely unique value statements. These value statements can be either positive or negative.
Positive value statements can be very beneficial to us and the organizations that we lead. Negative value statements can be extremely damaging to us, our businesses, and the people that we influence.
For Example . . .