The term “value” has become synonymous with the idea of being an entrepreneur. In the world of networking, you hear “add value” at nearly every event, in most social media posts, and nearly all online courses or masterminds. 

 

The foundation of networking is the idea that in order to connect with those around us, we must first add value to their lives and business. 

 

But what exactly is value? Is there a way to actually measure value? How do we take practical steps to “add value” to someone? 

 

Take math — you either love it or you hate it, am I right? I was one of the few in school who actually enjoyed it. I wouldn’t go as far to say it was my favorite subject, but I definitely didn’t mind it!

My high school math teacher always said, “Math is power!” And I must admit, being able to understand coordinates, derivatives, and tangents gave me this sense of coolness. I enjoyed using numerical values and formulas to solve equations and mathematical problems. 

 

However, since high school, I haven’t used trigonometry, calculus, or algebra in my day-to-day life. The knowledge of Pythagorean’s theorem has done me little to no good since graduation, unfortunately.

 

But I will say this-  the ability to comprehend information, think through steps to a solution, and formulate a process  has served me well in my years of business. The value in my math classes in high school was not the numerical value it added to my GPA but rather the mental capabilities it helped form and grow!

 

So in the spirit of numbers and math, let’s dive into the “formula” for adding value the right way!

 

 

What Value Is

 

Before we can understand how to add value properly, we must first truly understand what value is. The concept of value can seem broad or abstract. So let’s set the groundwork for our formula by comprehending the types and measurements of value!

 

Types of Value

 

The Merriam-Webster dictionary defines value in several ways. They list value as “monetary worth of something… a relative worth, utility, or importance… a principle of quality that is intrinsically valuable or desirable… a numerical quantity that is assigned or determined by calculation or measurement.” Quite vast in description!

 

       1. Tangible Value

This value has a physical nature. Value that you can see or touch. Whether it is an exquisite diamond, a signed sports jersey of a Hall-of-Fame athlete, or a front-row ticket to the hottest concert in town, the element of value is present in a tangible way. Tangible value is rather cut and dry. If in business or life the sense of value is attached to a physical object, the value is tangible and often able to be measured. A diamond’s value is measured by cut, clarity, and size. A sports jersey’s value is determined by the player who wore it and their success. Tickets to a concert are valued according to the location of the seat and the experience it would provide the attendee. 

      2. Intangible Value

This value is the exact opposite. There is no physical property to this type of value. It is more of a concept, idea, thought, or principle. Intangible value is often subjective. A memory or principle can be valuable to someone simply because of the influence the memory or principle has had on the individual. While intangible value may not be easily measured by charts or numerical value, it can still be measured by the results that it brings. 

 

Before approaching someone that you wish to connect with and before building an audience or community, you have to determine what type of value you will be adding. Take time. Write it out. Believe in it! This is the first crucial part of the formula.

 

Measurements of Value

 

Measuring your value is the second step of defining what value is. The method of measuring your value is not necessarily a certain scale. The value of your content will be measured by what it does. There are seven ways to measure the value of your content.

 

Does it…

• Provide a Service? People love service! According to Harvard Business Review, the major economies of our world have been dominated by businesses that are focused on service rather than product. Subscription services have seen an exponential growth in the last decade. There’s new service ideas every day. Infact, did you know you can have your trash bin cleaned and sanitized once every quarter? It’s amazing what kind of services are out there!
• Solve a Problem? The entrepreneur mindset is simple. See a problem and find a solution. Does your content solve an issue that is near to people’s hearts and wallets? 
• Cut Cost? Everyone likes saving money. I don’t even think this can be debated. Whether in business or in personal finances, people will look for ways to save money. 
• Increase Revenue? This goes hand-in-hand with cutting costs. If your content can help make money for your audience or connection, it is immensely valuable. 
• Save Time? We have 24 hours in a day, 7 days a week, and 52 weeks a year. Time is like a currency. How we spend it can determine how we progress or succeed in life. If your content can help someone save time, you’re golden.
• Improve Quality? What sets a Lamborghini apart from a Toyota? Simple- how the car is made. The materials used to build the Lambo are far superior, more powerful, and immensely higher in quality. Even if you already see a product or service in your niche, find a way to improve the quality of what is offered. 
• Elevate Convenience? We live in a society that craves convenience! In the last 100 years we have seen the reality of fast food, subscription services, and online shopping. The world as a whole places value on anything that makes life easier. Value skyrockets when convenience is elevated.

 

If your type of value meets any one of these requirements, your content or idea will be considered valuable, and  even more so when it can meet several or all of the requirements. 

 

In order to add value to your network or relationships in your life, determine the type of value you are going to add, and make sure it measures up to what people want and need. 

 

What Value Is Not

 

It is important to understand that while we can define value and measure value, we may still struggle with adding value to our relationships. Why is that? Simple, we do not take into account what hinders us from truly adding value. 

 

I have loved being able to speak with many amazing entrepreneurs and business people over the years on my show and asking them how to add value. It is interesting though that they often start with what not to do! It shows the importance of knowing what will hinder your value before you even begin.

 

Hindrances to Value

 

1. Do not start off by asking someone “How can I add value to you?” 

 

This is one of the biggest mistakes you can make in the industry of networking. And I know what you are thinking. “How can I know what they need unless I ask directly?” We’ll cover more on that later, but here are few reasons why this question is a hindrance to adding value the right way.

• It comes off as a lazy approach.
• It implies that you want something in return.

 

           Asking this question places the responsibility of coming up with the value on the very person who you want to add value to. This will actually subtract from their valuable time and energy, and as a result, many people of influence will not respond. 

 

The question can also seem forced or like you have an agenda. Try to think of it from their perspective. Someone asks you how to add value. You tell them. They do what you said, and then want to ask something of you whether that be a sale or another connection. 

 

Here’s the most important thing about adding value- do it without expecting anything in return!

 

     2. Do not recycle what others have done to add value.

 

Yes, there is some truth to reusing good ideas, but when you are building trust and connection with someone new, it is imperative that you add value that is unique and creatively your own. 

 

This will establish your credibility and integrity! While you can draw from inspiration of others ideas and methods, make it your own when adding to your audience. Choose to be the value you wish to add!

 

Misconceptions about Value

 

• A big thought surrounding value and the ability to add it to others is the need to already have influence. My friend and best-selling author, Jon Gordon, said in our interview that value creates influence. Not the other way around. 

 

If you feel as though you cannot add value because you do not have a large influence or audience, do not let that feeling overtake your mindset! When you can add value to one person’s life, you have created influence. 

 

• Another misconception about value is that if you know what to add and how to add it, the road will be easy! Unfortunately, this is not true. Adding value to others is hard work! There will be “nos” and “not yets”, but do not get discouraged, and do not take it personally. 

 

Adding value is not a shortcut in this world of entrepreneurship. Making connections and building relationships will come with persistence and hard work. While it may not be easy, it will be worth it.

 

• When adding value, one may think that coming up with a way to add value is all it takes. This is a misconception. To add value, you have to be value. 

 

Angie Lee was on my show a while back, and she is an ardent believer that you must invest in yourself. If you find what you are passionate about, you will be willing to invest in yourself and bet on yourself. 

 

When you truly view yourself as the value in your market or niche, you can add value to others. You are the passion that will fuel your drive. You are the vehicle of the value that people will want to see added to their life.

 

Our formula now has the type, the measurement, and what to avoid in our action and thinking. Let’s take a look at the practical ways we can add value to others!

 

Practical Ways to Add Value

 

Anyone else like me and just want to know the exact way to do something? Broad overviews of topics can get old and blah. So here are several practical tips that some of the best guests on my show had to share. 

 

Preparation 

 

Ask the right questions!

 

We’ve talked about the one question that should never be asked, but that does not mean that we shouldn’t ask questions at all! 

Observe their business and ask questions about them personally. Use discretion, but the reason you want to ask these kinds of questions is to show interest in them. The master marketer, Jay Abraham, said that the most interesting people are those who are the most interested. 

When you ask and listen to their answers, you gain wisdom and experience. This will make your ability to add value personal and individual. You may desire to add value on a grand scale, but you must treat each individual connection and relationship as though it were the only one that matters.

 

I’ve often heard that people do not care how much you know until they know how much you care. Ask the right questions, and show interest in those you wish to add value to!

 

Give Genuine Praise- Promote Them!

 

If you desire to connect with one powerful influencer or a million members of your audience, the strategy is the same. Once you ask questions and know them more, you can give genuine praise. 

 

In my interview with Amy Porterfield, she mentioned a young man who had continued to promote her work on social media. The praise was genuine, and he asked for nothing in return. This caught her eye, and after some time a connection was formed. 

 

Before the first spoken (or emailed) word, lift up those you wish to connect with. This will go a long way with the top 1%. They won’t all respond the first time. Or maybe even the fifth time.

But promoting another will show you genuinely care. Be enthusiastic in your praise! This will make it stand out.

 

Offer some value for free!

 

This is crucial in your preparation. If you have determined the value you wish to add- whether tangible or intangible- have an offer in place that you can give to them free of charge.

 

This will give them the opportunity to act on the value you provide. If you have put in the work, the value will speak for itself, and the free offer may be the beginning to a life-long relationship that benefits both sides!

 

Content

 

Here are some practical tips for valuable content.

 

Be consistent!

 

Consistency is key when it comes to producing content. Showing up on a consistent basis is half the battle. Create a schedule for your content- when to create, when to release, when to interact. 

In whatever field or area you find yourself in, be consistent in your content. There are very few, if any, overnight successes. It takes time. But whether your audience is one or one million, be consistent in adding value.

 

Be relative!

 

Our connections are with human beings not robots. Our content should reflect the organic nature in which we wish to communicate and connect. 

 

Consistency is huge, but if our content is not relative to our audience, they lose sight of the value. This especially applies to our engagement. 

 

Once you release content, the reward comes in the ability for that content to continue bringing value even after time has passed. Jon Gordon dropped a huge knowledge bomb when he explained that the value of your content is the relativity of your topic in the grand scheme of time and not just the temporary moment. 

 

When your content is relative, it will promote itself. To add value through your content, make sure it is real and raw. No fluff!

 

Be resourceful!

 

Resourcefulness will be your greatest gift as someone who creates value to add to others. Build on what you have already created. Do not think that once a content concept has been created that you simply walk away.

This starts with taking your value deep first and then going wide. Determine your core message. Get deep into the value you are adding. View your value like a tree. Plant your core value down deep and establish roots. Your value will then branch out naturally and stand the test of time. 

 

Influence

 

As I talked about earlier, valuable content will bring about influence. Influence in turn creates value. The cycle will continue as long as the value that is created continues to measure up to the original value. 

 

Focus on Education!

 

People come to you for education and then stay for entertainment - Angie Lee, Marketing Ninja and speaker Click To Tweet

 

Providing a solution or answer for people builds trust. When you finally have an ask of them, they are more likely to jump on board. Create the answer before they even realize they have a problem.

 

I spent several of my early years in door-to-door sales. And we used the exact opposite mindset. It’s all about convincing people they have a need and you have the answer that you can sell them.

 

By creating valuable content that focuses on educating your audience, you create a funnel. They see how much they have benefited from you so when they do have a problem, they come to you and are willing to pay for your value!

 

Steward your Influence

 

Please hear me when I say that influence should never be taken for granted. Just as you work hard to initially build and connect, you must continue to work hard at maintaining your relationships and connections.

 

Gary Vaynerchuk, well known entrepreneur and speaker has said that he endeavors to  provide 51% of the value in every relationship he has. 

 

This simply means that every relationship you are privileged to build will need time and attention to ensure that value is continually added. It is not one and done. When you do not steward your influence, you will lose it. 

 

Conclusion

 

The idea of adding value first when establishing a connection with someone is not new. The need to add value to build your network will not cease. 

 

Once you have solidified what your value is and removed from your mindset what value is not, apply the practical tips to see your influence grow!

 

I cannot guarantee that it will be easy, but if you put in the real work to add value first, the results will astonish you. The greatest reward will undoubtedly be the relationships you form. 

 

Networking is not all about the money. Yes, we all appreciate and value money. But the real reason I love what I do and the field of networking is simple– valuable relationships. 

 

I want to know how this may have helped you! Tell me below what stood out to you the most.

 

If you want to add value to someone else, start now and share with a friend!