Value is in the Eye of the Beholder

Value is in the Eye of the Beholder

I've had some great conversations with some really smart people in the past couple of months since I got started working with small businesses and new Entrepreneurs in this capacity.  There is one common theme that seems to be emerging though as I work particularly with young technology entrepreneurs: unclear value. Perhaps a good way to start this discussion is with a quote from the yoda of business management, Peter Drucker: "Quality in a product or service is not what the supplier puts in. It is what the customer gets out and is willing to pay for. A product is not quality because it is hard to make and costs a lot of money, as manufacturers typically believe. This is incompetence. Customers pay only for what is of use to them and gives them value. Nothing else constitutes quality." To illustrate an example of unclear value I'm going to use an example from a recent discussion (the names have been changed to protect the innocent). ...
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