Price vs. Value

price

Three restaurants of differing levels of quality…

“The bad restaurant tries to give just enough food and service, both in quantity and quality, to justify the money it takes from the customer. The good restaurant strives to give the most quantity and quality for the money it takes. But the great restaurant – ahh, the great restaurant strives to defy imagination! Its goal is to provide a higher quality of food and service than any amount of money could possibly pay for.”

The first restaurant may or may not survive, and the same goes for the second – but the third will survive and thrive.

This is the essence of the personal value proposition (or, in this case, the business’s value proposition, which most likely is a direct reflection of the restaurant owner’s personal value proposition). It is the trade secret of all exceptional businesses and the core element that lies at the heart of their success: providing more in value than they receive in payment.

The ability to provide exceptional value is not limited to only the highest-end businesses or those with luxury-level product lines. It’s a mindset anyone can adopt with whatever they do.

This week…strive to over deliver. It’s the cornerstone for creating a culture of excellence.

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