Word Of the Week #31: Value

April 21, 2009 by  

Value: the relative worth of something.

Are your customers, guests or members standing in line to spend their money at your establishment? If they are, they probably see you as a great value!



I believe there are four components to value. First, you have to have a quality product. Whatever you’re selling has to be the best. Be it food, hotel rooms, golf, etc.

Second, you have to have quality service. In past WOW’s (#11 through #17) I have described ways you can create “knock your socks off” service and be the best at attending to your guests, customers, and members needs.

Third, you have to have a quality atmosphere. In addition to having a nice environment (pretty pictures, plants, beautiful furniture, etc.) you have to have “positive energy flow.” When I walk into an establishment, I can feel it. I can feel “negative energy” as well!

And lastly, how much does it cost? People vote with their pocket books! I believe true value is providing a quality product, delivered with quality service and experienced in a quality atmosphere. When those happen in tandem then the cost is never questioned.

Key Point: The more you charge the pickier your customers, guests, and members become! This week focus on how you can create more value in your operation. Are your products, your service and your atmosphere the best they can be, and in line with what your charging?

Reader Responses

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