How to maintain value for your business under all circumstances

To grow your business, you wish to make sure that value flows to you. Value represents many things, including the solutions your product or service offers to the market, building relationships, and getting paid. The problem is that many aspects can limit your ability to proceed receiving that value. For example, the political climate, environmental disasters, and changes in the economy often limit the flow of value into the company.

For example, in 2022 they were 18 separate weather and U.S. climate-related disasters costing at least $1 billion. Also consider that if you invest in the stock market, your value could change dramatically if the political climate changes. One test found that there is a significant relationship between political instability and stock market performance. With the elections approaching, anxiety is comprehensible.

For your company to proceed to receive value in some form, even in changing circumstances, you will need to make sure that the company continues to deliver value that is appropriate to the situation and context. This requires pondering outside the box.

As CEO of Idoneus, I know first-hand how difficult it is to stay at the top and develop recent ideas to generate such value. One thing I know for sure: if you would like to reveal your value and remain relevant and irreplaceable to those that provide you with value, you wish to change the landscape.

To ensure a stronger flow of value, implement these strategies.

1. Develop and apply a value-first mindset

The most blatant way to gain value from others is by paying. You sell something from your business, share your wisdom, liquidate your investments, and even gain an inheritance. People pay you and there is an exchange of value for your offering.

However, as a substitute of focusing on receiving value, reverse it. Focus on a value mindset. This implies that you are driven by the value you offer, not the value you receive. This is a game changer.

For example, if your company sells a product, provide your most certainly customers with all the information they need in that industry. It’s not only about offering a promotional price for your item, but moderately providing all the free but beneficial information that goes far beyond what you offer. Anticipate all often asked questions, caveats and information they could need before making an informed purchase. Think about the customer before they turn out to be one, making their life easier before the sale. Creates a purchase for the customer. It builds trust, and trust creates beneficial, long-term relationships.

This doesn’t suggest you act like a sacrificial lamb or that you just have to give every little thing to those that value you. Instead, set and maintain your boundaries.

The difference is that you just are truly invested in the advantages you bring to other people. Instead of trying to extract every dollar from them, you focus on how you’ll be able to support and help. By proving your value in this easy way, you’ll be able to turn out to be indispensable to those that pay you.

2. Build your social currency

You’ve heard it many times before. Who you know matters. If for some reason you lack a social network or your social network is not helping you profit in some form, it is time to make some changes. You need to build your social currency.

Relationships matter in many forms. Ask these questions:

• Who is in your network now?

• Who will fight for you?

• Who could these people introduce you to that may be beneficial to you or to them?

• Who in your network knows someone who may be interested in the newest product, product or service you are selling?

Real relationships have enormous value. When you build these strong relationships, these people will move mountains to provide value to the people they care about – and that may very well be you.

So, to increase the flow of value, you wish to consistently work on building and nurturing these relationships. Take steps to reach out to people, ask for an introduction, discover who your current network knows, and then move on.

For example, host a podcast or webinar. You may go further and organize a local seminar, workshop or immersion class and act as a speaker. Make it easier for you to get to know your speakers or sponsors to grow their network and strengthen your own. Consider sponsoring an awards ceremony that recognizes notable people you want to meet. This builds your popularity and social currency while working on building your network.

3. Consider the value of asset trading

In a turbulent situation, many people take the reflex motion of selling. In my industry, where I work with high-net-worth leaders, this often looks like divesting assets corresponding to art, jewelry, real estate portfolios, or corporations. Selling products/services or divesting assets can definitely liberate money. However, selling is not the only option, and sometimes it is the worst step you’ll be able to take. Instead, consider a value trading strategy.

Trading reduces the friction of selling. It helps reduce process time and allows you to move more quickly to exactly the recent type of value you desire. It seems counterintuitive, but trading can often outperform selling as a seamless exchange of value for value.

The key limitation of this strategy is debt. Debt makes trading much harder because banks are reluctant to transfer collateral. Debt often kills these transactions because an appraiser will get involved, and meaning you might have someone who doesn’t understand your assets or other types of value they never owned making basic decisions about their value. It just doesn’t work. Debt-free trades are easy and will be very useful.

Ultimately, your goal is to create value with others through the products and services or assets you own; to do this, you wish to minimize leverage and increase the value and advantages of your assets. By selling those assets that not meet your goals and expectations, it is possible to move directly to other assets that supply the goals and value you wish.

In my book Billions under pressure: the art and science of making, exchanging and protecting value,I’m exploring how you’ll be able to focus your efforts on building higher value streams for exchange. Today’s value exchange is based on the age-old concept of barter, but positions it for the twenty first century. In your business, this is fundamental to the company’s success; which you could exchange money for your products and services, but you can too exchange your knowledge, presentations, expertise and even material possessions.

Sometimes it could seem counterintuitive to replace one type of value with one other, but once you learn this process, you may have the ability to consistently develop stronger value streams. For example, if you as a company run a debt-free, cash-flow-generating real estate portfolio but are concerned about the real estate market in the coming years, you might sell that asset to someone who has the expertise to manage it in this environment in exchange for a portfolio enterprises, rare artistic endeavors, precious metals and even music labels or patents. There are no limits to the options that will be achieved through value exchange. Thinking otherwise ensures a continuous flow of value in every market.

Instead, change your mindset and at all times consider trading high-value assets you currently own for those you would like, and you’ll fairly often find yourself preserving value in a way that can not be achieved through the traditional sales process. This necessary and often ignored skill will be a key differentiator in your company’s growth and long-term success.