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Creating Value in Life – Why and How?

How do you create value in life? What does it mean? Why do you want to create value in life? Here are some facts about creating value: it makes people happy, it can bring success in life, in business, and what’s more is the core of many religious faiths.

What does Creating Value Mean? 

Let’s break down the definition of “Creating Value“. First, “value“. I like this definition – “something (such as a principle or quality) intrinsically valuable or desirable“. Second, a “creating” definition is “bringing (something) into existence”. Thus, creating value is “bringing into existence something that is valuable or desirable.” Also, this term, “creating value“, is often used in business such as “creating value for the customer“. But it is also relevant in how we live our life such as we are “creating value” in our community or in our relationships. So, creating value is not all about us. Also, the term “creating value” is found in religions such as Christianity and Buddhism. 

How Do You Create Value?

Creating Value - Be a man of value
Be a Man of Value – Albert Einstein

How can an organization or person create value? The technical answer are as follows:

  1. New Value. This is where you go to a new level with a relationship. Specifically, this is creating a new value that requires breaking into a new sector. It’s something you haven’t done before. For a business, this could mean creating a new service or product for a customer. 
  2. More Value. Namely, this is where you generate more value to an existing service or product. In business for instance, you can keep the purchase price the same and deliver more with every purchase.
  3. Better Value. Like the term more value, better value relies on expanding an existing value. But instead of increasing the quantity, you increase the quality. Specifically, you can create better value with a change in impact, intensity, or application.

See FastCompany for more details on 3 Ways to Create Value that Lasts.

In Business, What are Some Examples of Creating Value?

In business, most people will think of value in terms of profit. Customers value a product or service and then buy it for more than it cost the business to create. Thus, the business turns a profit.  So the business creates value, but this value is not just dollars and cents. Here are some examples:

  • Cheapest Price. Giving a price that makes the customer believe they are getting more benefits than the cost and of other competitors.
  • Reduce the Price or Add Something Extra. Everyone likes a sale or getting that something extra over the competition (better service, add-on to the product).
  • Convenience. Make it convenient for the customer to buy and how they pay for it.
  • Branding. Create an image, a brand. The customer appreciates the values of the company, thus creating more value for the customer.
  • Just Make a “Better Mousetrap”. In this case, give the customer a product or service that is easy for them to understand, to use, and it is better than the competition.
  • Make Customers Feel Valued. Be friendly and attentive. Make it easy for customers to communicate with you and to get answers to their questions.

See Journal of Creating Value’s What Is Customer Value and How Can You Create It?, The Systems Thinker’s Value Creation and Business Success, and CFO Perspective’s How Does Value Creation Lead to Business Success? for more details on how businesses can create value for their customers.

In Religion and Life in General, What are Some Examples of Creating Value?

Many religions from Christianity to Buddhism have as part of their philosophy the concept of value creation. Indeed, no matter whether you follow a particular religion or belief, a person can still create value in life.

  • Buddhism – Creating Value. For instance, value creation is a call to action in Buddhism. It is where the believer becomes the cause of happiness. The believer has the objective “…to gain wisdom and energy to shape reality, at each moment, in the most value-creating ways“. See Soka Gakkai’s Creating Value for more information.
  • Christianity – Creating Value. For example, Jesus tells the story of the Good Samaritan, Luke chapter 10, to demonstrate what it means to love God and your neighbor as yourself. So, here a Christian (or anyone) creates value for a neighbor by loving and giving to their neighbor, their fellow man. See Joyce Meyer’s What Is the Only Way to Be Truly Happy? for more information.
  • Everyday Life – Creating Value. To illustrate, Albert Einstein tells us, “Strive not to be a success, but rather to be of value“. As in business and in religion, creating value for others brings success back to you.

For more information from Unvarnished Facts, see more articles on values.

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