Are you finding it tough to survive in the corporate battlefield? Everyone is always vying for that top spot, including you. But with so much competition, you’re probably thinking it’s next to impossible for you to come out on top.
However, the reality is that working smarter, not harder, will get you any spot you set your sights on!
Consider the term “creating value.” Creating value means accomplishing tasks that will greatly benefit your organization, as well as making you stand out from the rest.
Although it never hurts to hit your targets, achieve the most sales, or have a flawless attendance record, those may not be enough to get you ahead.
When the powers that be are deciding on promotions, how much value you’ve actually contributed to the company is what really counts! What have you contributed that will sustain the organization and allow it to grow by leaps and bounds in the future?
So just how do you create value? What can you do that hasn’t already been done?
Try these strategies to create value, regardless of the type of business you work in:
1. Focus on the return on investment. When thinking of ways to create value at the workplace, it’s important to consider whether the time you spend on a particular idea or project will yield the desired return on investment. Companies generally take one of two competitive strategies; pricing or differentiation. Evaluate if what you’re working on will help your company strengthen its pricing position or will further differentiate the company among its competitors.
- Knowing what the end goal is before starting on a journey is the best way to determine whether or not you should proceed.
- Spending time doing what others are doing won’t allow you to stand out. Work on projects that produce significant returns, from the point of view of financial success as well as market leadership.
2. Study the stories of successful businesses. If you take the time to study the stories of successful businesses owners, you’ll likely be able to identify what your organization is missing. How did Elon Musk take on two legacy industries (cars & energy) and create a thriving company? How did Allan Mulally position Ford to thrive through the 08′ recession without taking a government bailout? How did Bob Iger transform Disney through acquisitions and bring the organization into the 21st Century?
- Changing your focus from doing your job well to creating value, instead, will help you tune in to ways to make a difference in the success of the company.
3. Seek out results that have a lasting effect. Creating value also means doing something that has a lasting effect and helps the organization reap positive rewards for a long time to come.
- Your contributions to building the business will likely be recognized and rewarded.
- It’s exciting to think that you could be on the brink of creating something that will outlive your time with the company! In an ever-changing world, you might want to position your thinking years ahead of where you are today. Build something that has longevity!
4. Understand what customers want. How do you know that you’re offering what the customers want?
- Study your client base so you can assess their needs and find ways to provide what they’re looking for. What are your niche customers not looking for, but should be? You can create value for consumers when you understand what they want, or by identifying trends that may catch their attention in the near future.
As long as you keep your mind focused on bringing ideas and solutions to the table that allow your company to continue on its growth path, you’ll likely be the candidate to secure that top spot at work. Thinking outside the box to create value is really what it’s all about!
Catalyst Consulting 