Do your (potential) clients know why they need your expertise? A value model is a contextual diagram you can draw to explain the placement of your ideas to a potential client’s situation. It’s also nice to have a metaphor up your sleeve to go with the model. A value model is simply to answer why they need your expertise to help their known, unknown or unspoken problem, when they potentially already know how you can provide the fix.
Too often experts want to solve problems straight away. They are so into their ideas that they throw them away on ears that are either not interested or don’t know why they should be interested! A value model will help to bridge that gap.
An example of a value model is the Million Dollar Expert Income Ladder Model (below), used when partnering with infopreneurs to help them make more money sharing their thoughts. Those who have completed the Million Dollar Expert (MDE) Programs, will know this model well.
There are 3 key elements that need to be on a value model:
1. Currency: A great value model shows a currency the partner will value. This can be money, but it could equally be time, energy, a certain feeling or some other quantifiable outcome. In the Million Dollar Expert Income Ladder Model, you see gross practice billings as an actual currency.
2. Aspiration: A great value model has a sense of a compelling future. It should show me how to take your ideas to get somewhere better. It should mobilise me in pursuit of a better future. On the Million Dollar Expert Income Ladder Model, you see that an infopreneur can move from white belt to black belt on the ladder. We also indicate a ‘sweet spot’, just above blue belt, where your referrals are creating most of your new business. It is explained that this is a result of the focus on positioning at stages 4 and 5.
3. Location: Finally, a great value model is one where you can pin-point where you are on the journey. You need to be able to locate where you are on your model. On the Million Dollar Expert Income Ladder Model, thought leaders often discuss “where I am at the moment and I would love to get to here.” When people can locate themselves on your model, you will want to simply invite them to work on progressing themselves, along with your assistance…
Yes, you still have to ask for the business!