Below is an Autogenerated Transcript

Dr. Khoureis: Let’s go back to the service. Tell me about the consumer and the customer. How do we add value to the customer? 

Ron: So different people value different things and the value that you provide. I called one of my frameworks, one of the tools that we’ve created is called the four categories of value. Okay. So one category, the first one, let’s call it the primary product. Okay. In other words, the main reason people come to you for something. So, yeah, if you go to a doctor, it’s for a diagnosis and treatment. Sure. It’s the primary product. 

This show, for example, Abe, the primary product is an exchange of thought leadership that’s going to be curated into a shorter segment so people get value for their time. Yes, the primary product. you can create more value or you can actually damage or destroy value, which will begin by understanding what is it that that recipient, as you call the consumer, what is it that they really want? What is it that they will value? But there’s another category which I call the delivery systems.

So you and I, right now you’re delivering this and you’re going to put it up online. And then the question is how many different channels will be available on? Can they find it on Apple Podcasts? Can they find it on Spotify? Do they have to go to your blog? Is it something that they can download onto their own device so that they can listen to it or watch it even if they’re offline? 

That doesn’t have to do with the actual product, does it? It’s the delivery system. The channel of communication. You could create value by being convenient, flexible, easy to work with. You could actually restrict and you could damage value by being more confusing or not user friendly. 

Dr. Khoureis: Take Apple as an example, what they created, and why they’re friendly. 

Ron: Yeah. It doesn’t even come with an operating manual anymore. It’s intuitive. You figure it out. 

Dr. Khoureis: So that’s what you’re leading to? 

Ron: Yes. But the primary product is that you’ve got this device that allows you to do so much and it’s in your pocket, and it weighs so much, and the screen size is this, and the amount of storage is that, and that’s the primary product. Then you’ve got this amazing delivery system of iTunes, etc., etc., and the whole ecosystem of apps. Third category…

Dr. Khoureis: Do you think they’re using your model when they think like that? Oh, you’re humble enough. Okay, that’s fine.

Ron: Remember, Remember, I found my model by studying success. Okay, good. You know, and yes, there have been many that have now used the model to create more success, but I distilled it from what was already there. The third category is called service mindset. Okay, where attitude… and Apple’s a master of this. What I mean is when you go to an Apple site or you get something, the tone of voice in the text is never rude. It’s always helpful. It’s always encouraging. It always has a friendly tone to it. If you go to an Apple store, you’re walking into a temple of service mindset. People are smiling. The body language is good. It may be 100% your fault. Whatever it is that you did or happened, they’re not going to make you feel that way. That’s very true. The experience.

Dr. Khoureis: Experience tells us that. Yeah.

Ron: The fourth and final category in this particular model is called the ongoing relationship. Okay. What is it that they’re doing that’s going to continue this with them and with you over time, rather than just solving the problem, completing the transaction or selling the product. You can create more value in all four categories. Different people value different things in all four categories. 

Dr. Khoureis: So as a…as a startup founder and business owner, when you think of this consumer or customer, you really have to think of the value of your product or service to provide to them. Absolutely. That’s right. So this is really part of the game when you don’t say, “I’m going to sell a product.” You have to also think about what you bring to them, to the community you’re serving as well. 

Ron: And in the competitive landscape. 

Dr. Khoureis: Tell me about that. How do you do that? Well, for example, when you say a startup, it’s very different from running an ongoing business with an established customer base. Yes. So a startup needs to find some way to do something different and to a certain customer segment better. Okay. So they may say I’m just going to do what everybody else is doing, but cheaper. Some will say I’m going to differentiate my business by creating an initial engagement with my client, but then I’m going to deepen this over time. We’re going to add more services or understand them and customize what we do for them more deeply, etc.. Okay, 

Dr. Khoureis: That’s the fourth, that’s getting us into the fourth. 

Ron: That’s the ongoing relationship. 

Dr. Khoureis: An ongoing relationship. Okay, excellent.