Tag Archives: value proposition

Defining Your Value to Your Company is Crap

The problem with defining our value as a working professional is that most of us tend to do this by highlighting our credentials and allowing our audience to interpret how these accolades can benefit their situation. This can lead to misinterpretation or a downgrading of the true value you offer. More importantly, in today’s society of an instantaneous communication process, it’s more likely to deter your audience from reading your credentials altogether.
As technology expands into new horizons, it focuses on making communications faster and faster. Unfortunately, it means that we will include less and less information but we will convince ourselves that we can make better decisions that way. While I’m not sold on this idea, I think it’s important that we all understand the power of brief messages. Twitter type communications will create an impatient and “get to the point” audience. So, do you want to utilize the little time you’ll have in communicating your value by telling them about your credentials or do you want to briefly describe the benefits you’ll provide that they need?

When it comes to drawing interest from your employer, they are only interested in 3 things: making money, reducing cost and getting someone to do the crap they don’t want to do. If you can develop all of your marketing materials around these ideas, you’ll attract a lot more attention to your skill sets.

Making Money. This is your company’s purpose. There’s no greater value than someone who can generate revenue for their company. Usually, we look to sales people as the creators of growth in the company, which is why they get paid so well. But they aren’t the only ones who can demonstrate this value. You can create products, services, intellectual property, ideas, etc. I had a close friend who earned an MBA the same time I did. He took his new knowledge to the marketing department and helped them solve one of their toughest problems. He took that evidence to the CEO and got a $10,000 raise that week. It’s that easy. Don’t tell them how you can make money. Give them a little example of it. Then, tell them what it is worth to them. Once you put the money in the bank, send me some, since I gave you the idea.

Reducing cost. This is another huge activity companies engage in all the time. If they can reduce the cost to build the products and services, they can improve their margins and make more money. In my first job out of college, I asked my company to fire a contractor they had hired to do some programming for their industrial controls. You know, the software that keeps a production line running that builds products. Anyhow, my company was installing 10 new production lines in a large scale project. The contractor would program a production line, then charge my company money for putting the same program in the next production line. I told the company I could save them $30,000 on each production line. After I proved it, they gave me the project to run. Find better ways to do things with less effort and less time and you’re likely to find yourself in a much better financial position.

The Crap. This is my favorite part of defining your value. Most people don’t consider this to be of value but it’s a great skill to have in your toolbox. Businesses don’t run smoothly. I don’t care how many Harvard grads they hire (and I’ve worked under a few). They will run into obstacles. And when they run into obstacles, it costs the company money to figure out how to get around them. Why? If the problem is spotted near the top of the organization, they’ll contract a consultant to solve the problem who may know less about it than they do. Sometimes companies even create their own problems. I know…it’s hard to believe, but it’s true. I’ve seen companies buy smaller companies, then fire the sales people. Strangely, they can’t sell any products because they don’t understand the market or the customers. Step up and help out.  Opportunities for helping here are abundant.

There are other times you can demonstrate some valuable skills, such as dealing with a “pain in the butt” customer. Companies have to show growth which means sometimes they have to work with customers they would rather not work with because they need the revenue. So they take the work. Here’s your opportunity. These are just a couple of examples of the kind of crap organizations get into in the quest for money. Most of the time no one wants to deal with such headaches. We all want the easy work that allows us to work on our “Career Plan B” during the day. I’m not saying you should sign up to handle all of the crap but it does have value. Here are a few kinds of crap dealing skills you can boast:

• Solving problems
• Dealing with difficult situations
• Creating and Leading Change
• Training and managing new people
• Working with other cultures

Defining your value can be done in just a few steps. First, consider the areas I discussed above. What skills do you possess related to these areas? Write them down. Then, take some time to think about what tangible evidence you have related to each one. What accomplishments prove you have the skill? If you don’t have any supporting evidence, go get some. Find opportunities by talking with other groups in your company about the problems they have. Help solve the issues. You might even take ownership of it and drive it to resolution. Lastly, deliver this info to those who can reward you for your efforts. That’s it….skills, evidence, and delivery.

Where do you market this value? Everywhere. Online profiles, cv/resumes, performance reviews, friends, etc. are great locations for your value. When people know what value you can provide, they’ll keep an eye out for opportunities to use your value, especially when it benefits them. Oh, and remember, getting all the crap jobs at work might not be so bad. It just might be a key definition of your contribution to the company.

10 Wishes for the MBA

I’ve been following the MBA, students and graduates for a long time. A lot of our discussions focus around things that the MBA doesn’t do. Many of these things we feel the program should be able to do but somehow it falls short of our expectations. So, instead of focusing on the shortcomings, I thought I would use this post to offer a few suggestions for improving the whole MBA experience. Imagine sitting in the front of the auditorium during your MBA orientation meeting and the director steps on stage to say a few things. Here’s what I wish they would say.

10. I wish they would tell students that specialization is not bad and is currently better than generalization. If you’ve earned the MBA and are looking to change careers, you probably already know this.

9. I wish they would tell students that they don’t provide a lot of career guidance.   It’s usually best to take advice from MBAs who’ve been in the corporate world for a while about the issues MBAs will experience. You also want information about the market as it is now and how it has been in the past few years. Getting advice from 20 years ago may not be relevant. That’s why you need to use MBA alumni groups. (shameless plug – read our ebooks at www.bt-books.com).

8. I wish they would teach students to communicate their value as an MBA.   This is important as more than two-thirds of MBAs are looking for a career change and will be asked about the value they will provide. If they can’t articulate it, it must not but be real impressive.

7. I wish they would tell students that they need to focus on differentiation. Earning the same degree everyone else is doesn’t help you take advantage of opportunities.

6. I wish they would tell students to focus on creating successes during their program. Earning the degree isn’t as powerful as they think it is.

5. I wish they would tell students to learn to work together and get to know each other. They’ll soon be asking each other for a job. So make as many friends as you can.

4. I wish they would tell students that networking is the key to finding a job. In fact, Networking is the key to just about everything you’ll get out of your career. Most of the accolades you’ll seek will come from someone else.

3. I wish they would tell students that internships are critical to getting into your desired industry. Some industries require experience, like private equity, before they’ll hire you. The MBA, without the experience, is useless.

2. I wish they would tell students that the job search needs to begin when you enroll, not when you are done. It’s so sad to see students unemployed after graduation. It shouldn’t happen. Give yourself plenty of time to get a job. Start early.

1. I wish they would tell students that the MBA is just a degree in fortune telling. Saying you know something about business is much different than proving it. You have to do some good things before people will believe in you. Remember, advice without a proven track record of success is speculation.

The MBA has greatly increased in popularity around the world. In recent discussions with companies around the globe, MBAs are graduating without the skills they need to be effective. Now combine this with the fact that most graduates don’t have a plan for their career, or even the first job, and you can begin to see why so many are struggling today. Nonetheless, the responsibility for your career is yours. Pointing fingers and assessing blame doesn’t help you any. Read, study, talk with MBAs and whatever else it takes to plan your career. You’ll pay a lot of money for that MBA and if you want to get a good return, you’ll have to plan it. Otherwise, the only thing you’ll see from it is a bill each month.

What do you wish for?