The Triforce Value
This article is written by Clinton James, a Contributor Author at Startup Turkey.
In Startup Turkey’s event, an entrepreneur and now entering the world of startups, Mr. Jonatan Crawford, the founder of Storenvy is determined to share what he has monitored from mentoring to what he terms as the triforce value. He emphasizes on selecting two essential things along the line of whether a product should be good, fast or cheap.
Firstly, how you position yourself as Position Value. People don't buy products, they buy better versions of themselves, they need the value that you get from it. From his assessment in Harvard business review, they identified 30 different types of real customer value that you can focus and provide in your business.
This emphasizes that if you're doing something else that's not on the list, then it's probably not something that people really need. This list can be easily found via google. Among the few things noted, people don't need a brand or a piece of hardware but motivation, information or the ability to make good decisions.
Secondly, why fight while there is need for recognizing Customer Value? Jonatan says that the most powerful thing you can do with your business is, design your KPIs in your metrics around how well you are delivering on real human value, like making people feel connected and making people relate with forms or these kinds. People don't really need your solution at times, they need more of the stuff to encourage them to solving a product or whatever is applying to things on the hierarchy of needs. Monitoring and improving on it will never lose track of what people really need. Storenvy noticed that people were enjoying about their software and is actually a feeling of confidence in yourself, termed as self-actualization.
Thirdly, coming back to the real value, of what your product is creating and build your strategy even in your metrics around what people don't buy like products as they buy better versions of themselves. This is in line with awareness where you can do all this other stuff right, playing the right game, focusing on delivering the right value. He believes that every single member of your entire company should be a customer success team because there is no other purpose for being there except for creating value. Helping the customer recognize it and being aware of it is what you should recognize and turn into advocates for you.
Make sure what you use both educates and gives you some insight and information that helps you make better decisions. Engaging with the entire lifecycle of success all the way through the post purchase, the satisfaction and understanding is important especially in an early stage company as you're learning about product market fit and what people really want and need.
Push through the understanding of value to your clients, then your customers are going to recognize it. Otherwise your sort of doing is more for yourself. Always create value for enough people and you will become valuable.