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Jeff Colvin
Management Consultant & Founder of Link,
a Management Consulting Group
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How
do you react to the following phrases?…
"We guarantee it!"
"100% satisfaction"
"…Or your money back"
In today's market, the product or service you provide must absolutely
please the customer because there will be no second chance. Even
without the promises of guaranteed satisfaction the customer has
come to expect top quality in the product or service they buy; because
they have the choice where to purchase it next. Whether or not you
"guarantee" satisfaction your business surely depends
on it.
A novel approach that has yet to be tested in the business world
is the concept of "pay for value". As proof of confidence
in your product or service the commitment to delivering value before
you ask for payment is largely unprecedented. Allowing a customer
to try it and like it before they pay a dime removes all of their
risks and anxieties about performance and satisfaction.
But of course, there are risks and rewards for you. The risks include
those who wouldn't pay for the value they received, but would justify
a lower payment based upon some illogical rationalization. And the
rewards would come from a much larger base of customers stimulated
by the novelty of your offering, or from those who wanted to take
advantage of the ultimate empowerment provided to them.
Where this approach may not be practical for many or most businesses,
this strategy has long been at the heart of the service of management
consulting and training.
Link Management consulting has always had a performance based approach
at the core of its services. Today it is being spelled out as a
specific offer and opportunity for individuals, clients and organizations
at all levels.
For any training provided ranging from project management and process
improvement to networking skills and leadership, Link will give
the ultimate discretion to the customer. After we deliver a top-notch
workshop, you decide what to pay based upon the value received.
With regard to consulting intervention, the targets of results
and improvement can be established as requirements for payment before
any contract work is done.
Shouldn't we all do business this way? Shouldn't our jobs be done
this way?
Get Paid for Value Delivered
Establish Your Worth
- Define what you do concretely (tied to overall company goals)
- Benchmark your roles and responsibilities to others
- Put your worth in dollar terms
Measure your Contribution
- Determine your current impact on your job and the company
- Track your performance directly to a company goal or strategy
- Justify your salary/compensation
Promote your Success and Value
- Let others know what you have contributed
- Put your success in return on investment terms
- Tie your success to your company's success
Hold Others Accountable for Value
- Stimulate a mentality of bottom line contribution
- Show how actions and decisions impact the overall company
Jeff Colvin (Jcolvin@linkllc.com)
founded Link, a management
consulting group in 1997 whose mission is dedicated to the Systems,
Structures, and Behaviors that make people and companies successful.
Link's bottom line focus on process improvement is achieved through
the facilitation and training of cross-functional teams to address
key strategic goals. Learn more about Jeff
Colvin & Link...
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