The market determines price and only the customer is qualified to assess value for money. Everything we sell must help customers improve revenue and/or margins; or reduce cost, time or effort; or reduce their serious risk.
The basic equation for value is: Business Value = Benefit minus Cost and this is why it’s so important to ensure all ‘benefits’ are expressed in monetized form wherever possible. Yes it’s true that not all benefits save or make money for our customer. As examples; less stress or risk, improved productivity, less risk in non-critical areas… all of these can be difficult to justify in financial terms. But the language of business is nevertheless numbers, not words, so always ask yourself: How does this benefit drop to their bottom line or improve
