What is it?
When we think of value we think of something of worth or usefulness. We think of all of the advantages that come with that source of value.
With the value gap, we are taking the concept of value a step further. The value gap is simply an awareness of the gap or space that exists between expectation and reality. To put things more simply, it’s the gap between the vision that exists within your mind and the result you get when you take the initiative to turn your vision into reality.
Why is it important to understand value gap?
As an entrepreneur, it’s important to understand the value gap because it helps you see how far you are from achieving the end goal.
The space between expectation and reality can also be understood as a journey. This journey exists between what is perceived and what is experienced.
With an awareness of what it takes to get from point A to point B, you will be better able to focus on what is required to achieve the results you want.
Once you have the results from your efforts, you can start to analyze what worked and what can be improved and then develop a strategy.
Creating a strategy based on your previous experience will help you reduce the value gap between your expectation and your reality.
Never underestimate your own potential.
Strategizing is an important aspect of entrepreneurship. It involves thinking deeply about any given situation and creating a plan of action that can help propel you to the next level.
Another vital part of entrepreneurship involves making decisions. The decisions that are made can result in both positive or negative outcomes which is why it is important to take calculated risks.
The value gap is an important element of helping you reach your fullest potential. By honing in on what’s missing and what is required to get to the next level, you are helping yourself achieve entrepreneurial growth.
When it comes to growth and advancement, understanding the value gap is crucial to becoming self-aware as it forces you to contemplate the practical application of an abstract thought.
The abstract thought can turn into the next best thing the world has ever seen so stay focused on believing in your own unique vision and what it takes to breathe your vision into existence.
One of the key principles in selling comes when your customer acknowledges something is needed or they have a problem, and they need your solution. What you have to offer is the value gap—the piece that is missing.
The bottom line
Everyone experiences a value gap between their entrepreneurial vision and reality. It is up to you as to how you view this gap and use it to your advantage.
As an entrepreneur, it is important to stay fully aware of this gap and what it means for your business because it’s what sets the stage for important business decisions.
Whether you view the value gap as a space, a gap, or a journey, being mindful of this is a fundamental aspect of taking your business to the next level.
Being a successful entrepreneur requires heightened awareness, excellent decision-making skills, and the ability to seamlessly bridge the value gap between expectation and reality.
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