Benefits of Creating Value for Customers

Making more profit and money is the main benefit of creating value for customers. Businesses make a profit by satisfying customer needs and wants through their products by adding value. They process inputs into higher value outputs.

What is value creation to customers?

Creating value means the business adds value to the inputs used. How much value is added? It is equal to the difference between the selling price of the product and the input costs.

Is the company successful in creating value? We can see it from whether customers are willing to pay a higher price than the input costs used to make goods or provide services.

And, creating value is the reason why business exists. Without it, they will not be able to survive because they bear the loss. Consumers do not want to buy if the product has no value to satisfy their needs and wants.

Take the tire manufacturer as an example. They buy raw materials such as rubber latex to be converted into final goods. To do so, they need locations for factories, machines to process inputs and labor to operate machines and factories. Then, after the tires are finished, they sell them to consumers. …

The Key to Business Success for the Young Generation

Every entrepreneur wants to achieve success in his business. However, to achieve it is not instant. It takes great effort and passion so that when you face challenges or failures, don’t just give up on the business.

1. Communication skills

Communication skills or the ability to communicate. According to him, this is very important to implement so that we can communicate with various groups to develop the business we run.

“How can we offer a good product or service if we don’t know how to communicate it. With good communication skills, the goods or products that we offer will become something that has a high selling value,” he said when he was one of the speakers for the live streaming of the Simac TV podcast with the theme “

2. Networking

In running a business, networking is something that must be built and maintained so that it can provide opportunities for us.

In addition to having good communication, an entrepreneur must also be able to build a wide network so that he can get many opportunities. For example, by joining a community.

In building the network, according to him, you don’t have to feel that you are much smarter …