The Mantra of an Entrepreneur “Create Value”

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Get obsessed with value. 
How do you define it? Measure it? How do the changes you are thinking about create value?
 What new capability, product, or service will your organization bring your customers that they will value
How will this make their life better? How will it amaze them? 
-Jack Hughes
 

Create value for others. For the entrepreneur this should be like a daily mantra. Perceiving everything through the lens of value creation will challenge you to look at all business activities differently. It is easy to become lost in the minutiae of tasks and to do’s lists. However coming back to the central question of “what will create value for others?” helps  us cut through the noise and ground ourselves in the critical work that needs to be done.

The focus on value creation can be preserved by establishing processes that reinforce a value focus. Reflection integrated as a regular part of our work will help to reinforce this habit of thought. Work methodologies such as agile scrum reinforce behaviors conducive to value creation. Practices that are helpful to encouraging value creation are:

  • Create User Stories. User stories are helpful because they help us see a product or service through the eyes of the customer. User stories are brief descriptions about a customer demographic, and why certain requirements will create value.
  • Check-in Regularly: Brief check-ins with the team to discuss the progress of a project  help to ensure goals are attained. Check-ins provide opportunities to calibrate tasks back to the critical focus.
  • Conduct Prioritization Meetings: Meetings held to prioritize  projects  based upon the level of customer value is helpful in ensuring the impact of our work.
How do you create business value for your customers? What process do you follow?