What’s in it for me.
During a recent accelerator meeting, one business owner was struggling with the value proposition for a new service line. Another member in the group simply looked at her and said “WIIFM.” The rest of us wondered what in the world she was talking about. “WIIFM – what’s in it for me?” she explained.
When it comes to your business, that’s exactly what you should be asking yourself.
The second business owner shared that she had been taught early in her career to never walk into a meeting without a clear idea of what was in it for the other person in the room. You should be able to articulate why this is a good use of time and money. Otherwise it is a complete waste of everyone’s time.
And you know what? She’s 100% right.
The business owner struggling with her value proposition had been talking about all this stuff the service line could do, but she was coming at it from the wrong direction. She wasn’t putting any thought into what was in it for her customers if they signed up right then, right there.
She re-wrote her value proposition and read it out loud to us. Immediately we all nodded and agreed, ‘That would make me pay attention.”
So the next time I give you a call I promise I’ll have worked through my WIIFM for you! But you have to do the same for me.
While you’re at it, look at your company’s value proposition. Recite your elevator speech. Are you answering, “What in it for me?” from your customer’s viewpoint?
Here’s to saving everyone a little time – and getting to “yes” faster.
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