Learn more about strategy with this collection
Why happiness is the ultimate goal
The importance of creating value
How to create wealth in the modern era
How to create more value
We can create more value in two ways.
- By increasing the willingness to pay. It describes the customers. It's the most a customer would ever pay for a product or service. Value can be created by focusing on "customer delight".
- By decreasing the willingness to sell. It is the least amount of compensation an employee would accept and still work for this particular company. ]t is a measure of the quality between what someone is looking for in work and what a company can offer.
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Ways to raise willingness to pay
- Product quality. The higher the quality, the more appealing the service, the higher the willingness to pay.
- Product complements. A compliment is a product or service that supports willingness to pay. For example, razor and razor blades, or printer an...
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Strategy is simple
A strategy is a plan to create value. Value for customers, value for employees, value for suppliers. It is planning for the future.
Strategy doesn't begin with a focus on profit. Financials, profitability, return on investor capital is the result of strategy. It is not the ...
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How to lower willingness to sell
Two ways to be more attractive in the market for talent:
- Pay more money. When you pay more money, you will be more competitive in the marketplace for talent.
- Make the job a better job. Create more attractive working conditions, for example, bet...
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Value explained
Value is the difference between a willingness to pay and a willingness to sell. This can be shown with a value stick.
- At the top, we have a willingness to pay.
- At the bottom, we have a willingness to sell.
The difference between the two is the value the com...
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The Meaning Of Outcomes
An outcome is “a change in human behaviour that drives business results.” Outcomes have nothing to do with making ‘stuff’ – though they’re something created by making the right stuff.
Outcomes are the changes in the customer, user, employee behaviour that lead to good ...
The business model
What makes a product great is not the idea of it or what it can do, but the way it is positioned. Business positioning is not about the competitive pursuit of a niche; it's about finding the right business model.
A business model describes the rationale for the way...
How to Amp Up Your Earning Potential
- When negotiating a salary, get the company to name figures first, otherwise you can’t know if you’re lowballing or highballing.
- Try to negotiate more than just your salary. Work hours, official title, parental leave, vacation time, and which projects you’ll work on cou...
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