Map out Your Value, Find Your Biggest Win
Your biggest and best Value opportunities are hidden right inside your enterprise: get Qualified on finding them!
The Value Blueprint is a weekly newsletter for people in business, non-profits, and creative ventures looking to make sense of creating and leveraging on Value for success. For engaging and practical breakdowns of Value creation tools every Tuesday, sign up here:
This week’s edition 3 of Qualified for Value, a 10 part newsletter series walking you through the applied aspects of Value creation!
At this point you’ve got a clear articulation of the Value you can offer via your Value Proposition, and you’ve weaved that Value into your product or service offering to create a Value offering.
Next, we must establish a practice for finding Value wherever it lies.
Unfortunately, it is not enough to develop an amazing Value Proposition and a great Value offering, then wait for Value creation to come find you. The process is more proactive than that: you have to go out there and uncover that Value!
Now admittedly, this part of the process can be dizzying:
“Where do I start looking, and for what?”
“What will Value look like, in its natural habitat?”
“How will I know once I’ve found it? And then, what do I do?”
Luckily there is a set approach available for you, and a set tool that can help you visualise opportunities and gaps where you can create Value.
In my studies of how exactly Value works and flows, I noted that there’s 4 main places inside enterprises and ventures where it tends to “hang around” and be most impactful:
Internally, connected to the enterprise’s Value Proposition and its Business Strategy, and
Externally, linked to the enterprise’s Niche and networks connected via Value generation
The set tool? That would be the Vivre Value Mapping framework, a nifty tool I designed and use in my Value creation work both in my personal work and in the work I do over at Vivre Consulting!
Not only does this tool help you spot Value opportunities in these typical hotspots, but it also helps you scope out issues that crop up and mess with an enterprise’s ability to create Value.
The set approach? Well, that’s what we’ll be walking through together below!
Grab your Value Proposition
Your Value Proposition is absolutely vital for a number of reasons during Value Innovation; the most important being that we use it as a the reference point to distinguish if a particular opportunity to possibly create Value is useful, relevant, or not.
The point here is as you are mapping (which we’ll touch on shortly), you will be holding this in your mind:
“Given that our Value Proposition is abc, what opportunities are there in (insert sector) that line up with this Proposition, or help us achieve or deliver it?”
Grab the Value Mapping Framework
Now for the fun part: the actual Value mapping!
The framework itself can be used in 2 ways:
You DON’T have a specific problem to solve
but you’re looking out to see where an opportunity to create Value could be:
Use the framework to scan your enterprise’s internal and external environment, going sector by sector
to help you find opportunities non-specifically
looking for specific Value opportunities that will solve a specific issue
You DO have a specific problem to solve
and have an idea of where your solution might be sitting:
Use the framework to scan your enterprise’s internal and external environment, going to specific sector(s) only
to zero in on specific area(s) to solve that particular problem
The commonality is both of those ways have the fundamental of you using the framework as a sort of rubric and guide to ask questions that lead you toward Value.
Here’s the thought process, and some example questions, to help you see the lines of Value you’ll be focusing in on for each sector:
Qualify Found Value Opportunities
Not every Value opportunity found is a Value opportunity to be leveraged right now, in a specific way, or even ever!
Now that you’ve got places where Value could be sitting and things that you could start or stop doing to create Value, you need to decide if those opportunities are worth taking on.
Sometimes we uncover things that are hugely helpful if we start doing them now, and others that while they sound good now that you’ve uncovered them, will need more working over time.
This bit is as easy as asking yourself:
“Is this opportunity valuable? Is it something that could change the game for us in a noticeable way? Do we have the resources for it?”
If you find that a given opportunity is not as valuable as it initially appeared, it’s no stress: simply do like a fisherman and throw it back in to the water!
Or, if you find that it’s solid but you can’t take it on right now, put a pin in it and circle back on it later.
But if you find that it is valuable and you can take it on now, well you’ve got yourself a winner! We’ll be talking about what to do with those ones next week!
Another week, another Qualified for Value edition!
These editions have been enormously fun for me to write up, and I hope you’re having as much fun reading them or at the very least are finding them valuable!
But before you go!
If you’re needing some specialised insights on mapping out Value opportunities and you need an expert to weed them out and qualify them for you, look no further than the Value Creation Suite over at Vivre Consulting!
One of our offerings under this suite is powerfully identifying Value creation opportunities within your enterprise’s internal and external environment, and provide customized insights on how the opportunities can be best leveraged for impact, tailored for every stage of your enterprise’s development and journey.
Like my work? You can get more of it!
Listen to my podcast, Inside Value, on Spotify, Apple Podcasts and YouTube
(be sure to subscribe!)Book me to speak or host a workshop at your event, company or organization
Check out our Value Creation Toolkit and the rest of our work at Vivre Consulting
Connect with me on LinkedIn!