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Value Proposition Module
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CHAPTER ONE: INTRODUCTION
In this session we will present a model that will
help you create an effective value proposition
statement; effective being defined as one that
any other person gets your value and can
explain it clearly and simply to any other
person.
The construction of our personal value
message is critical yet it is simply the first of
the building blocks in the foundation of our
preferred practice.
It is our message, however we still need to
package it and then send it – and to address
these subsequent issues we have created the
Presentation Styles and Interview modules.
Once we know what our message is, how to
package it and how to deliver it – we will move
to applying it in the cultivation of our
professional networks – whether they be
referral points or resource providers.
By creating an effective value proposition
statement your tangible reward is that you will
save your time by needing to deliver it once,
and you will reduce the frustration that arises
when you realize that another person doesn’t
“receive” your message the way you want!
Your real reward: the other person appreciates
'you' and 'your value', and they are impressed
with your communications effectiveness and
the level of confidence you have of your
service.
MOST of us package our ‘what we do’ message,
in a format that describes HOW we deliver our
value, rather than in a way that describes WHAT
another party ‘gets’!
We should be asking ourselves: "Are we
offering what people are buying?"
In this session we will introduce and then work
through a straightforward 3-step model in the
creation of a listener-friendly way of delivering
our message.
The model is clear and straightforward and
works with both the rational and the emotional
aspects within each of us. To be succinct, we
have a tendency to validate ourselves in two
ways:
We have a habit of talking from our point of
view rather than structuring our message from
the other person’s point of view, and
We use a rational justification, based upon our
expertise, rather than working with the actual
decision-making motivators – the emotional!
The message we send, with all good intentions,
is received by another as equally succinct: “It’s
all about me, and here is the evidence that you
should value me!”
Understandably, most people will respond to a
message like this in a less-than-positive way.
What is viewed positively by all of us is respect.
Therefore, our model will help us structure our
message focus on the other party’s ease of
understanding rather than on our own ego.
To begin, you may wish to take a moment and
write your current value proposition in the
workbook now. This will give you an excellent
comparison for what you create later in this
session.
CHAPTER TWO: PREPARATION
Before we start with the model, let's recognize
just a few biases that may inhibit us during the
creation of our value proposition:
* we tend to start by equating ourselves with
what we do – others don’t!
* we want to talk about what we do from our
point of view rather than another’s – others
want to be engaged in a conversation
* we are attached to our educational
credentials! – others tend to view these as
check-list items
* we try to convince as opposed to inform –
others resent this, and
* we feel a gap between how we see ourselves
and how we ‘want’ others to see us!
These reflect what we feel is relevant – the
question and challenge that we are really facing
is: What is relevant to the other party?
Many of us have heard a story, or one like it, of
someone with a reputation echoed in the
quote:
“He’s such a good salesman that he could sell a
refrigerator to an Eskimo!”
Quick Question: “How would you feel about
being 'described' in this way?
Many professionals have a visceral response to
the idea of being seen as a salesman, let alone
one who might be viewed as wearing a white
belt and/or white shoes – and – this feeling has
a direct impact on how we represent ourselves!
In this situation, some of us are concluding
that the salesman is slick and that somehow
the buyer is being talked into something that
they really don’t want.
This may be true, yet it may be very UNTRUE –
and our response highlights our own
perspective rather than what might be reality.
The approach: We will deliver a message to
assist the listener understand why they may
WANT what we offer, and this requires that we
set aside what we WANT and focus on them!
The model will help us deliver our own value
message in a way that another party will be
able to grasp, thereby increasing the
probability that they will decide that YOU are a
good or GREAT option for them to improve
their own situation.
Result: Quality & Quantity – or - more and
better clients!
A different, and positive Result: those who
understand your value, yet find that the two of
you aren’t a fit, are equipped to explain to
others WHAT you do – and often can think of
others who might want your services; this is
the first step in building yourself a Team of
Advocates who are able to advertise your value.
We’ll address the HOW TO DO THIS in a later
module.
APPROACH: We will have the best results if we
create our VP in a way that assumes the party
to whom we are delivering this is not a buyer,
but a potential advocate.
CHAPTER 3: GUIDELINES
This will put the focus on our creating a
statement that can now be delivered by the
other person simply, clearly and with earnest!
The model creation guidelines for
effectiveness:
clean, clear and crisp – or “to the point”
people decide emotionally, justify that
decision ‘rationally’
proving our value claim
First hint: de-personalize our value from
ourselves.
Second hint: if we don’t know and feel our own
value, it is guaranteed that the other party
doesn’t!
Third hint: we are working on a statement of
value – and in itself is only the first step in
living your value for your clients – keep this in
mind as you evolve your value proposition - as
you will find that in a year from now you will
have refined it further.
Fourth hint: people incorporate new
information in a linear fashion, and the
moment the sequence disconnects from the
listener, the message is lost.
THE STRATEGY of this model: It is all about
‘them’!
The focus is on what they want, recognizing
how they incorporate information, and working
toward equipping them to pass along your
message!
The model itself has 3-Steps – and a quick
overview is as follows:
Step One - THE WANT! This first sentence
addresses an emotion and from the listener’s
point of view can be defined as the WHAT DO I
GET?
Step Two – THE HOW & WHY! This portion
of the model includes a rational justifier
relating to the delivery of the WHAT identified;
this is usually done via our HOW we do this,
and then we include a direct statement
addressing the question the listener is asking:
WHY YOU?
Step Three – THE SURE! Finally, we end with a
statement that supports the proof that Steps
One and Two are true!
To make the creation of your VP statement
easier, let’s dissect each step into the separate
parts and work our way through that.
CHAPTER FOUR: STEP #1
STEP ONE: this is a general statement at a
high level, focused on satisfying an emotion.
We want our VP statement to begin by having
the listener immediately relate to a specific
emotion in a way that it defines for
them….WHAT EVERY CLIENT GETS.
The STRUCTURE of your statement is important
to connecting with the other party:
"I emotion being satisfied my clients' regarding
their topical issue(s).
For simplicity, let’s start by listing just a few
emotions to which we can all relate: Security,
Comfort, Stability, and a reduction of Stress!
Who of us doesn’t want ‘more’ of these?
Here are a few examples of the layout:
"I help remove the stress for my clients with
their tax issues.....
"I secure my clients' and their family's financial
affairs....
"I simplify my clients' lives in regard to their
estate planning.....
"I ease my clients' through their legal issues
and headaches......
Now, let’s create a sample opening sentence
for our Refrigerator sales fellow using STEP
ONE:
“I give my customers a sense of comfort that
their food is being preserved!”
This is short and to the point – yet doesn’t
cause any confusion – because it is a general
statement to which you & I, AND the Eskimo
can all relate, even IF we relate to it very
differently!
Now we wouldn’t really expect a refrigerator
sales person to talk with us in this way, as we
would normally already be in a store looking at
refrigerators.
The point: we have self-identified ourselves to
the salesperson as being motivated by
something otherwise we probably wouldn’t be
looking – and his or her challenge is to package
the opening statement to reflect what emotion
you are wishing to have satisfied.
The conversation might start with their asking
you what prompted you to be looking – and
once that has been answered – they now have
the information required to position
themselves, their role and their product to
align with your point of motivation.
Yet, it all comes down to food preservation,
whether that be defined as a security issue by
the Eskimo, or a food storage system for more
urbane types!
When we have created STEP ONE clearly, it
becomes a perfect transition to what we want
to talk about…..ourselves…and the HOW we go
about our role!!
CHAPTER FIVE: STEP #2
STEP TWO: the rationale: HOW & WHY
This is the body of our value proposition if you
will, as we want to factually state how we
deliver our service – and this can often be
simply stated as our process.
We want to present our information in a linear
manner and we want to talk about the HOW
before we get into the WHY.
When the listener hears your connection as to
how you deliver the WHAT, they likely move
quickly onto "WHY YOU?"
In most courses we have taken or in books
which we've read, this is called the USP - or
Unique Selling Proposition. The purpose for
this part of your VP statement is to articulate -
this is how I am DIFFERENT (in a good way) or
this is where I FIT in my industry.
Therefore, as the WHY ME is a personal claim –
it is important that the claim is both simple and
factual and that it reflects your sense of values.
This should also be structured in a positive
manner, rather than in a way that the listener
may feel that you are referencing your
competitors in a negative light.
Remember: this is NOT a sales pitch, simply an
INFORMATIONAL or POSITIONING statement
that provides clarity to the listener.
The goal is for the listener to understand where
we are on the spectrum of service providers in
our industry and how we are unique in the way
that we deliver our service.
So to recap:
first part of STEP TWO: how do you deliver?
second part of STEP TWO: why you?
Let’s walk through a couple of examples how
STEP TWO might be created:
Example 1 "For my clients, I create a plan that
will address their specific tax planning issues.
My practice is quite unique, as my discovery
process works through both the factual and the
motivational circumstances, allowing me to
fully understand each client as a person. I play
the role of strategist for each of my clients
rather than the taking a tactical approach of
working through their tax issues in isolation
from their other financial objectives."
Example 2 "For each of my clients I do the
technical tax work myself and then coordinate
the other specialists that are required for
implementation of the tax strategy.
My approach of moving beyond 'knowing my
clients' to 'understanding them' results in the
broadening of my service and gives my practice
a more personal and individual focus.
These are simply a couple of samples, so let’s
go back to our Refrigerator fellow and see how
he might structure ‘his’ STEP TWO:
“The refrigerator is Polar Bear proof - via these
features.
What is unique is the ease and simplicity of use
compared to hiding food under a pile of rocks!
This is very simplified, yet gets right to the
heart of the issue.
Now that we have addressed the emotion, and
have presented the rationale, we are set to
move on.
CHAPTER SIX: STEP #3
STEP THREE: the proof: SURE!
In this sentence we want to state that what we
have said previously is accurate.
Delivering this in a quiet and confident way will
tell the listener that we are a valid option in our
field and that those we work with 'value' what
we have previously stated.
On a rational basis, it provides further evidence
that they can 'share' with others – and we have
made it simple for them to do so.
Let's work with a general type of proof
statement, delivered in a couple of different
ways.
The statement:
"My clients refer their friends and family
members!"
Unto itself it provides the listener with evidence
that your existing clients are happy.
For some of us who are analytical types
(read: engineers) the statement might be
presented akin to:
"83% of my clients have referred a new client to me
during the past 2 years, and of those referred, I
continue to work with 100% of them."
For some of us not-so-analytical types
(read: the rest of us!) the statement might be
presented as:
"As a consequence of my approach, my clients
refer their friends and family members and my
professional associates entrust their clients to
me."
Therefore, to review:
3 - Steps ERP if you like acronyms
1. Emotion - the WHAT!
done to relate to the listener from their point of
view - as in, what do THEY get!
2. Rationale - the HOW & the WHY!
done to describe the role briefly and to
differentiate us from others in the same role!
3. Proof - the SURE!
done to support the previous two components
and provide evidence to the listener that we are
'credible'.
Once again – let’s return to our Refrigerator
sales guy and how he might conclude his
overall VP statement.
"In the 32 years that we have been servicing
our 118 clients in the north, we have yet to
have a polar bear or any other wild animal
'crack' any of our refrigerators."
This sentence is to the point and provides the
Eskimo with evidence that what the sales guy
said was credible.
CHAPTER 7: COMBINING the 3-STEPS
With respect to our Refrigerator Sales Fellow,
let’s review how the combination of the THREE
STEPS comes together in an overall statement:
“I give my customers a sense of comfort that
their food is being preserved!”
“The refrigerator is Polar Bear proof - via these
features.
What is unique is the ease and simplicity of use
compared to hiding food under a pile of rocks!
"In the 32 years that we have been servicing
our 118 clients in the north, we have yet to
have a polar bear or any other wild animal
'crack' any of our refrigerators."
Now, let's go back to the original statement:
"He's such a good salesman that he could sell a
refrigerator to an Eskimo!"
Using our 3-Step model, and from our just
completed work – here is how the 'sales-guy',
may have come up with his statements.
Step 1: “I give my customers a sense of
comfort that their food is being preserved!”
This indicates that he understands 'what the
listener' might be interested in having. i.e.
WHAT IS IN IT FOR HIM.
The issue is security, not the way you and I
might value it, but from a totally different set
of measurements.
The "security" in question in this case is from
POLAR BEARS.
Step 2: The tool is Polar Bear proof - via these
features. What is unique is the ease and
simplicity of use compared to hiding food
under a pile of rocks!
The descriptor of the use of the refrigerator
is simple to explain and the uniqueness is
relative to the options that the Eskimo
considers.
While we are wondering about the capacity,
the dependability and the power-usage of a
new fridge, the Eskimo is wondering about the
capacity, the dependability and the actual
physical security of the unit!
Step 3: In this case we need to address the
ramifications of the refrigerator NOT living
up to expectations - as the Eskimo's family
will go without food!
So, he will need to hear how we are going to
ensure that our refrigerator will not become
non-functional!
"In the 32 years that we have been servicing
our 118 clients in the north, we have yet to
have a polar bear or any other wild animal
'crack' any of our refrigerators."
Therefore, at this point we can now understand
how the Eskimo is open to further discussion
around a refrigerator as an alternative to his
'preservation' issue! It is all about his family of
course, yet food is the issue in question.
NOW……..
How do you view the sales guy's approach?
CHAPTER EIGHT: IT IS ALL ABOUT YOU!
Was he selling or satisfying a want?
Your VP statement is more than simply a
positioning statement – it is about sending a
message that you can help or not..…and that
you are clear about what help you are able to
provide.
The real moral to the story: our audience is
much larger than we think!
Once that is understood, we can begin
developing our own feel for how to package
our message - and that is something that takes
practice and a bit of time.
The typical reason for not doing this previously
isn't rocket science - we simply have used our
own perspective and incorporated our own
biases.
As a contrast, let's look at a real-life example of
an accounting firm and what they have come
up with as an initial statement to help them
move forward in building their statement:
"We are here to take all the hassle out of our
clients' tax lives....
"We do this by taking a complete picture of
their personal and business circumstances and
then restructure these in an integrated way to
maximum their tax-efficiency.
"We are different in the general with our
holistic approach and on the more tangible
level - we have the downtown expertise
delivered at a suburban price!
"Because of this, our firm has doubled in size
during the past 3 years due to all the referrals
that we've received.
CHAPTER NINE: USING YOUR STATEMENT
Now that we have created our own new value
proposition statement, let’s look at the
PRACTICAL transition from creation to
application.
Some sample “WHEN and HOW” we use our new
statements are as follows:
1: Networking events: this is the best known
environment to test your statement - a new
audience, not particularly friendly, but
attending themselves with a purpose. Tell
them what you do! Some call this the elevator
speech – and in some ways it is: Short and to
the point as you are governed by a time-limit!
2: Introduction from another party: introduce
yourself and help the introducer feel like they
are not sorry that they provided the
introduction!
3: Interviews with client prospects:
If this is an initial meeting – give the new
audience a frame of reference – and give them
a sense that the meeting is about them, not
you – by saying ‘what’ you do via your
statement!
If this is a second meeting – start by reminding
them ‘what’ you do and if they didn’t get the
message the first time, (via your previous
descriptor), they certainly will this time – and
will confirm for them why they are there talking
with you again!
4: Meetings:
Start – when those in attendance are not all
familiar with you and / or your role – ease their
minds: tell them ‘what’ you offer! If you do a
round table introduction and have an
opportunity to introduce yourself – take
advantage of it – Tell them what you do!
End – when you have attended a meeting and
then mingle during a break or at the end –
position your statement vis a vis the purpose of
the meeting. “I’m here, looking to get ‘x’ from
the session, as “I help my clients………”
CHAPTER TEN:
RECAP - Review, Reward, Action
To conclude, let’s identify what we have
covered:
TO REVIEW:
1. we are creating our value from the
listener’s point of view
2. we are present it in a linear, clear and
simple way
3. we are packaging it to ensure that they
can easily pass it along!
YOUR REWARD:
1. TIME Say it once!
2. CLARITY Say it simply!
3. CONNECTION Say it well!
YOUR TO-DO List:
1. Use the workbook to guide you in the
creation process
2. Practice your statement on a variety of
people – and then ASK them what they
hear!
3. Your litmus test: Deliver your
statement to your mother! If she gets
your value – and can pass it along to
her neighbor – you are done!
The level of our efforts in this module
will be well compensated in our next
one – INTERVIEWING – as it will allow us
to productively align ourselves and our
service with the issues of importance to
a client or a new prospect.