Most of the time I find myself doing things which were not planned or thought of in advance and that do not create general value for me or others.
As one whose main occupation is the creation process – I must define and understand the word “value” and it’s meaning to me, what gets left by me to this world – what is my creation?
I have found that there are 3 main patterns or levels of creating value which represents the overall usefulness of my creations to either my clients or to me – but more importantly – my clients.
The first level –
Value extraction:
In this level you mainly focus on procedures being made within your projects to create better resource usage on your systems or procedures.
This might involve creating computer algorithms that use less of the resources or even fire unskilful employees to reduce the company’s spend.
The second level –
Value copying / duplicating:
You have visited a competitor and noticed he has introduces a new feature or a service you do not offer, you then recreate and copy it to your company – this is value duplication.
The third level –
Value creation:
You focus on your clients requests and demands and create new features or services based on your clients. The value originated in this process is usually original.
Each level of value creation mentioned above creates value for your company or service but it has been shown that the amount of value created by the third level is the most useful and because it has direct client orientation – it will help you to disconnect from the never ending competition and create new features your competitors haven’t even started thinking of.
