The not so black economy: Value

With the ever-changing landscape of business, particularly with the new-norm of fluctuating economies, the perception of value has had a monumental change.

Whether acquiring office space, equipment, services, salary packages, or even the cost of stationary, there is a greater focus on value – not cost, Value.

So, what is value in today’s business world?

Is it as simple as supply versus demand? Not in today’s market.

Is it a discount off the first price presented? No, that’s just devaluing what you are proposing.

Is it the free set of steak knives? No, it’s so much more than that.

To provide value in today’s business world, you need to look at the client/supplier relationship as much more than a transaction.

As a purchaser for our business, and a supplier to our clients, I value the suppliers that understand that I can’t deliver world-class products and exceptional value to my clients unless they can do the same for me. Once a relationship has evolved past the transactional phase, the mind-set of what’s good for our clients kicks in – and that’s where the real value in today’s business world begins.

In a relationship where you openly share information (sometimes gossip over a drink), business connections, what’s worked, what hasn’t, with honesty and integrity you can truly understand what is important to all involved, you can deliver what is expected, and most importantly, you can provide value.