15 November, 2013

1-1-9-2 value creation, the forms of value: service

  • intangible, you don't walk back home with it in your hands
  • a form of experience that the customer lives in 
  • not a duplicable thing, you may enhance it, but you must have the "gift" to do that in the 1st place 
  • eg, massage, hair cut, a play ... etc.
4 things you have to do if you are planning to offer a "service": 
  1. you need to have a skill
  2. you have to ensure High Quality that at a large scale, consistent with time, that doesn't get worse with time or pressure
  3. provide it fast, the time of the customers is an essential part of the equation and it is more valuable to them than you think. Besides, your time is essential. YOU WILL BE PAID FOR THAT TIME
  4. charge enough to compensate for the effort and time of yours. It is a very consuming "value" form. It is like you give yourself to somebody