How Valuable Are The Solutions You Provide?
The number one way to make yourself more valuable – both to your organization and to the clients you serve – is to increase the value of the solutions that you’re able to provide for them.
However, before you set out to increase the value of your offers, you’ll need to begin by assessing how valuable the solutions you currently provide really are.
To provide you with the perspective required to accomplish this, let’s discuss the three high-level categories of solutions your offers can fall into.
The 3 Categories Of Solutions
1. Competitive Solutions (Lowest Value)
Competitive solutions are offers with a high supply-to-demand ratio. This means it’s relatively easy for buyers who are looking for these solutions to find providers or suppliers who are eager to deliver them.
If you’re currently offering competitive solutions, you’re up against a wave of competitors who are all looking to sell the same things as you. Buyers won’t view you as being different in any way, and they won’t see you as being able to bring anything special to the table. Instead, the work you do will be viewed as low-value, common, and commodity in nature.
Since there is such a large supply of providers/suppliers for buyers to choose from, they are often able to seek out and find someone willing to do the work for cheap. If you try to command a higher rate for competitive work, your clients will likely take their business to another provider willing to offer the same solution for a lower fee.
For these reasons, it should be your goal to avoid offering competitive solutions.
2. Distinct Solutions (Higher Value)
Distinct solutions are offers with a significantly lower supply-to-demand ratio. There are fewer buyers looking for these solutions, but also much fewer suppliers/providers offering them. With the supply-to-demand ratio in their favor, those who offer these solutions are able to stand out and command a higher fee for their work.
The best way to move from a competitive solution to a distinct solution is by adding a component of specificity to your offer. In the example of an organization, a general architecture firm could choose to specialize as a commercial architecture firm. When they do this, customers looking for commercial architecture services will be quick to select them over their general architecture competitors.
Buyers of distinct solutions are generally willing to pay more since the solution can only be fulfilled by a small group of companies and individuals with the specific expertise they need. If you offer a distinct solution, you’ll be able to command a higher fee while becoming even better at what you do, since your work will be focused in a specific area.
3. Unique Solutions (Highest Value)
Unique solutions are offers that have an incredibly low supply-to-demand ratio. This is great news for you if you’re able to offer solutions at this level.
They require a high level of specialization, knowledge, and experience. This may include providing proprietary or patented solutions and the ability to successfully work in very challenging or even high-risk environments.
Unique offers generate high fees – primarily lump sum payments based on value and the resulting long-term benefits. When you offer unique solutions, your clients will view you as a valuable resource, a thought leader, and a partner that provides rare insights and is able to work through significant challenges and even create breakthrough custom solutions for them.
Buyers of unique solutions don’t have many options to choose from, and the work they require is often of extremely high value. As a result, they are willing to pay enormous amounts of money for the right person, team, or organization to get the job done.
Conclusion
If you aren’t currently offering unique solutions, don’t worry. The first step to improvement is seeing the path ahead of you. Seek to specialize more. Get better at delivering value that can’t easily be obtained just anywhere.
Offer solutions with fewer competitors, higher demand, or greater impact.
As the value of the solutions you offer rises, so too will your success.