Forget whether or not you know your product–or know your customer. The question is “do you know your value?” And most, I find, do not.
The other day, I was training a group of stockbrokers who call on high end investors (+$1,000,000 in assets). Even though they all were earning high sums of money, none of them could accurately express the value they brought to their clients.
Here is the board picture I drew that illustrates the point.
The UV stands for do you “understand” your value? The CV means, how competent are you at “communicating value?” The PV means, if you do those things well, you’ll get paid for it.
When I say “understand” I mean do you know what problems your value solves? Or what opportunity your value helps the customer exploit. Thought you’d like to see the picture.
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