Keeping it relevant is key to growing your company valuation
Ask yourself this question – when is the last time me and my team discussed whether our value proposition and unique selling proposition are still relevant? A key part of our job as company leaders is to ensure that these are staying relevant and that nothing has or is changing in our market or with our customers that might require us to make a strategic shift.
- Value Proposition is the value that your customer derives from working with your company.
- Unique Selling Proposition (USP) is how you provide your value proposition in a unique way versus your competition.
The beginning of a year is a great time to think about whether your team sees changes occurring in your market or perhaps changes with your customer purchasing decision making. You’ll want to determine if any strategic shifts are needed in your business and/or whether it’s just a matter of fine tuning your customer messaging to keep it relevant.
For those wanting to sell their business one day and be euphoric from the outcome, assessing value proposition and USP is a periodic key step needed. Your future acquirer will certainly assess whether they think these are staying relevant, so you too need to monitor and manage this aspect of your business effectively.