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Finding New Value






Customer Needs
Distributor Offering
Costs & Prices
Selling Value
Delivering Value
Measuring Value
Finding New Value

Step 7: Find New Value Contribution Opportunities

The process of identifying, documenting and reporting extended value contributions is ongoing and continuous. Unfortunately, there is no magic formula for finding cost savings opportunities. It requires creativity, a detective’s questioning mind, an engineer's methodical approach to problem solving, and an analyst's tenacity to keep probing and relating new pieces of information. Developing a trusted network of “minds, eyes and ears” in your customer's business will help leverage the precious resource of time. Although the customer can often point you in the right direction, your "real value” is both in the recognition and the solution of their problems. In addition, you must manage the ongoing documentation and communication of value contribution results to your customers.

The following checklist provides several ideas that might stimulate additional possibilities for identifying new cost savings or extended value contributions. Use and customize the list to fit specific customers or market segments. Remember, success in this final but important stage of your value proposition is highly dependent on your skills of observation, communication and logic. Ask your customer questions, understand their internal and external financial "choke points", and brainstorm with your customer, your suppliers and in-house specialists to develop a new or better way! Then, measure and report it.



Potential New Value Opportunities Checklist

1.  Ask engineers, maintenance & stores personnel about problem areas.


2.  Brainstorm with product & application specialists to identify new or better solutions.


3.  Find out where costs are excessive (activity based cost analysis).


4.  Assess current processes, methods, operating procedures for possible improvements.


5.  Learn how the plant operates as well or better than the customer personnel.


6.  Revisit value contribution ideas that may have been delayed or rejected in the past.


7.  Add your idea:


8.  Add your idea:


9.  Add your idea:


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