One of the key ingredients to a successful home-based business is the value you provide. I’m often asked how to go about determining and measuring that value. My answer…

Determine what you’re offering - really offering.

This will take some thought, but should be fairly easy. Start with the needs that a potential customer would mention - “I could really use __________,” or “What I really need is __________.” Then, you state your answer “That’s great, because I provide __________.”

Now here’s where the mind work comes in - what is it that the customer is really after?

For example…

Potential Customer: “I could really use some socks.”

You: “That’s great, because I provide custom, hand-knitted yak-fur socks.”

What the Customer Really Wants: Warm feet.

Now, a blanket, footie PJ’s, or duck boots could as easily satisfy the need. But you aren’t going to answer with “Really? Well then you should get some duck boots.” Unless you happen to provide them, too. Get it?

Knowing what your potential customers really want is critical to determining your value.

So my friend, are you selling socks or warm feet?