How to prioritize value over volume
When you need a new smart phone, do you choose the least expensive one so you can buy all sorts of apps and accessories to go with it? Or do you choose one that’s a bit more expensive but that is better quality and has more features?
If you chose the last option, you prioritize value over volume. And that’s an adage it’s becoming increasingly important to live by in the professional world.
Volume vs. value
In his article “The Importance of Quality Over Quantity” for BusinessDictionary, Leo Sun reports that it’s traditionally always been important for companies to sell the greatest possible number of products at the highest possible margins. However, the advent of the internet is making it increasingly important to focus on quality. The reason for this is that consumers tend to research products and services before purchasing them — and if they find predominantly negative reviews, they’ll opt for another brand.
The same is true for B2B products and services — the better work you deliver, the more likely people will have good things to say about your company. That in turn generates more business.
Help your team to focus on value rather than volume
Even if your team is just one department in a larger organization, its work is critical to the services or products your company offers. That’s why it’s important to teach your people to focus on value rather than volume. The following tips can help:
- Raise your standards. According to Zaid K. Dahhaj in his Medium article “How Quality Over Quantity Could Change Your Life,” this involves making one high-quality decision after another. In other words, consistently ask, “Does this decision, method or process support the production of a value-adding deliverable?”
- Make each minute count. Whether it’s productive time or a short break, encourage your people to use it to its fullest in order to get the best results.
- Challenge your team to look for ways to improve. Oftentimes, the people in the trenches have good ideas as to how to improve a process or deliverable. Ask your employees to share their suggestions and make sure they have a safe place to do so.
Prioritizing value over volume is an ongoing endeavour. So, take the time to explain this approach to your team and you’ll likely soon see great improvements in your deliverables.