The Value Proposition for Our Clients in FM Consulting by Daniel Goldsmith
Wednesday, January 20th, 2016
Recently, I explored the value proposition and how strategic alliance can serve as a means to creating and delivering value.
The discussion on value proposition remains quite relevant in an age where business priorities and competitive challenges remain fluid.
In this article consider value proposition in terms of what it means to us as a consulting community of practice as well as to our clients. Basically, value proposition is the statement of benefits and advantages that accrue to a client. This value can originate from our knowledge, our skill, and our wisdom. These are the defining elements that induce a client to engage and retain our services as consultants. It is appropriate to evaluate value proposition from a dualistic standpoint: the client and the consultant.
From the client’s standpoint, the value that is identified can be reflected in our knowledge of the facility management discipline, our understanding of the commercial real estate and facility management industries, and how we apply that knowledge into a relevant framework of skills. This combination of knowledge and skills creates several advantages to the client.
- First, the client gains the confidence in the consultant’s ability to identify and define the issues driving the engagement.
- Secondly, the client gains a perspective that allows them to evaluate their issues in the larger context of the organization and the organization’s ability to deliver its products and services effectively.
- Thirdly, the client gains an awareness of the impact generated by the issues of concern as it relates to the organization and the organization’s stakeholders (customers, employees, vendors, and the larger community).
From the consultant’s standpoint, the value that is provided speaks to how well we understand what we do and how it can impact our clients. The basis for this statement is that if the consultant’s current offerings have lost their relevance and significance, this can translate to potential business and revenue loss.
As important, the consultant stands to sacrifice their credibility as they are deemed to be experts in their respective discipline. Another basis compelling the consultant to assess and validate their knowledge, competencies, and skills is that it provides an objective evaluation of the currency, relevance, and necessity of their services. This evaluation is critical as it allows the consultant to accomplish the following:
- Objectively evaluate their services as it resonates with existing and potential clients.
- Consider the relevance of its offerings as compared with the practices that are advanced in the industry.
- Assess its knowledge, competencies, and skills.
- Determine their competitiveness.
Value Proposition has numerous applications for the consultant and the client alike. A lack of understanding of the Value Proposition can cause the client to potentially miss the opportunity to appropriately and timely capitalize on retaining the necessary expertise to deliver the solutions needed to improve the its well being.
With respect to the consultant, a miscalculation or misunderstanding of the Value Proposition can result in scenarios where the consultant misses the opportunity to accurately highlight and promote the service, skill, and expertise needed and sought out by potential clients, which translates to loss business opportunity, loss business revenue, and loss profits.
Consequently, it is advised that the consultant assumes the role of the catalyst to ensure that there is clarity, relevance, and competitiveness associated with the value proposition.
Daniel Goldsmith is the principal of Daniel M. Goldsmith Consultancy, LLC, a consultancy specializing in Management and Facility Management.
Daniel holds a Doctorate of Business Administration (DBA) degree from Argosy University, and his earlier degrees are an MBA from Strayer University and bachelor degree in Business from the University of West Florida.
Daniel enjoys the privilege of contributing to the community of learning at Strayer University as adjunct faculty. He is a contributor in the Facility Management arena within the federal government and currently holds professional memberships in the Institute of Management Consultants – National Capital Region Chapter, the American Statistical Association (AMSTAT), the International Facility Management Association (IFMA) and the Society of Human Resource Management (SHRM).
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