ValueFlow is a business model enhancement tool that aligns value creation with better product or service development.
The goal is to provide a model that can prioritize creating value during each stage of the trade life cycle, as well as respond to customer’s desire for products and services.
The hope is that entrepreneurs become intimately aware of the market value gaps in efforts to create better solutions for their market.
By career choice, entrepreneurial people require to create products and services. Oftentimes, there is a disconnect between the real solution and the customer’s needs.
By using Value Flow, entrepreneurs can maximize the chance of their product or service truly matching each stage. It means from the earliest stages of a customer opportunity to the smooth release process once finished.
This will help entrepreneurs create products and services that are better fit the wants and needs of any particular market. This also allows them to capture stage by stage for better product and service development.
Value Flow is applied when entrepreneurs are eager to develop better sales of products and services. Initially, you look for opportunities where an individual or group is experiencing pain or a strong desire. Then, you identify how value could create for them via product or service. Afterward, you will be able to create a product or service with minimal features but maximum benefits to the individual or group in that scenario. Next, it comes to exchanging for payment and delivering the product/ service to support the customer at the desired levels. Lastly, you create an easy system for smoothly releasing and separating customers from products or services when they want to leave.
Value Flow aims to enhance the traditional business model by adding two more essential steps at the beginning and the end. Below, you’ll find five steps of value evolution at the forefront of all decision making.
There are some interesting insights to be gained from Value Flow. For example, imagine beginning with a seek for the opportunity and identification by observing customer behaviors. Then, you would be able to create value that satisfies customers and respond to their wants and needs. After capturing the right market, you produce a fit product/ service that solves customers’ problems. When it comes to cancellation, it will be easy for you to create release process awareness after customers separate from the product or service.
Looking for opportunities and delving into the wants and needs of people groups through recognition of their behavior.
Understand what customers want and need for liberating their happiness through value in the products or services.
Understand the scarcity and needs of customers and fulfill their needs through value in the products or services.
Create an easy system enabling the customers to smoothly separate and release from the products or services when they’d like to.
Joy has noticed that more people are buying books online.
She then took this opportunity and study to see what kind of marketing can meet the needs of this group.
She discovered that the vast majority of young readers do not like to carry books around and prefer reading through electronic devices.
She thought of producing an application for readers of all ages, enabling them to read books online through the app under her business brand.
Joy thought of a simple and easy way for customers to unsubscribe, while also collecting reading points that readers can redeem for various rewards.
She finally thought about how to promote this channel by setting a very affordable monthly subscription price. Also, it has a variety of interesting promotions.
In trade, the concept of value is widely used by individuals and organizations to acquire, compare or recommend assets. Unfortunately, the importance of value and how it affects transaction decisions in marketplaces is rarely discussed.
Valueflow is a stage-based view of value creation for better product development which help pick up where the business model ends. There are 2 stages of economic value that go uncaptured in the traditional business model, Value Identification and Value Release.
I study, teach and consult on the subject. It’s a passion of mine because I want better lives for individuals and families around the world.
Everyday, millions of people worry about how they’re going to buy food, pay for healthcare and live in safe environments hoping to reduce stress, risk and worry. That shouldn’t be.
If turned into a science, accessible by the masses, it can be the body of knowledge that helps individuals and families raise their quality of life and protect those they care about most.
So, that’s my purpose and I’m doing my best to stick to it. Hopefully, we can help the world, one individual and family at a time.
Thank you for exploring the Value Flow and we hope this helps you capture the value for better business development entire your life. If you have any questions or need assistance, please message us below.
What kind of products or services do you have?
What are your customer’s want and need most?
How will you create value through the products and services?