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April 9, 2013 / glennlim thots

“Value-Adding” Strategy to win over prospectors…

Image“Try not to become a man of success but rather to become a man of VALUE” – Albert Einstein

On what basis do we ‘sell’ ourselves to others? Do people see value in what we offer? our capabilities? our strengths?…What’s the value we give in our ‘value propositions’?

When Jack Dorsey of Twitter was co-founding Square, an innovative mobile-payments company, he had plenty of investor interest. Kevin Rose, founder of Digg, a notable social news website, had seen a prototype of the Square device and wanted to invest too. When he asked Jack whether there was room for another person to join the initial funding round, Jack told him it was full. This didn’t stop Kevin from pursuing his goal of partnering Square, and he kept searching for ‘gaps’ to come into the investment picture. He noticed that Square didn’t have a demo on its website showing how the device worked. So, he put together a high-definition video and sent it to Jack. Impressed, Jack turned around on the investment question and invited Kevin to invest in the Series A round of financing. Essentially, Kevin was ‘offering’ Jack not just what everybody else was doing (which was financial investment portfolio), but also his commitment, passion, and a ‘can-do’ attitude. These became very tangible values that won Jack over.

Too often we have staff, potential employees, and would-be partners laying down their expectations first before proving their worth or value. It makes it difficult for bosses to work on their terms without having any tangible estimation of their ‘value’. The principle we can all learn here is – Prove your value to your prospectors upfront first, and this will compel them to align themselves to your interests.

This week, let’s start looking for ways to add value to those we want to work with instead of just expressing our interests…Glenn Lim

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