Why does a client reach you or choose you to provide him with an IT solution or service? Definitely because of the value he believes you’ll be delivering to him. In return of value, he pays you money and, supposedly, enjoys the value you’ve delivered to him.
The value is delivered to the client, by deploying your assets (capabilities and resources) to support and empower the client assets, which in turn, affect the client business outcomes.
That said, your assets are your capital that you should maintain, enhance and strategize.
With every service or solution, there should be another form of value: Value Capturing. This is basically the value you’ve earned as a provider. This includes knowledge, information experience and enhancement on processes and systems. This value enhances your capacities and resources
Capturing value, enhances your capabilities and resources, makes you distinguished and, most often, indispensable. Capturing value makes your capabilities and resources strategic assets that are vital for your presence and competitiveness. Capturing value is not an option, it’s a strategic decision.
This means in any deal, you should consider how your assets will be affected, as much as, you focus on getting a good sum of money for your work. After all both constitutes the value, with the former more important on the long run.
That said, you must have a balanced relation with your customer. He needs your assets, as much as you need his money if not more! Having imbalanced relation usually jeopardizes your assets on the long run.
How? You tend to spoil your client; you do whatever he asks for, or at least most of it. You build your experience around his needs, and only his special needs, you tailor your systems, services to match his expectations and the vicious cycle continues.
Do not adversely affect your strategic asset in favor of spoiling a big, financially capable client. You can easily become a “custom solution”, for him and only for him. And at someday, he might decide to go for another provider and leave you with no value!
If you believe that the relation is not balanced, you’d better have the courage and the dignity to step aside.
Realistically, you might be obliged to make deals for the sake of money only, however you should be aware of the fact that you are losing something in change, and it might not be wise to continue with this in the long term. This might be taken and an interim approach, but not as a strategy.
Finally, I believe a great provider is measured by his ability to balance the value created and the value captured. Your strategic assets are your capital, that on the long run will get you more client and, hence more money.
So be wise and get them all! Capture value, maintain and strategize your asset and enjoy they money!
- TIP: Capture The Real Value (abuhijleh.net)