WHAT IS IN IT FOR ME? A MUST QUESTION TO ANSWER FOR SUCCESS..

 A MUST RECIPE OF ORGANISATIONS WHO ACHIEVE AND KEEP UP WITH SUCCESS..

Successful organisations unequivocally address ‘The What’s in it for me’ question addressing various level of stake holders like  customers- internal  and external, share holders and promoters, employees,  business associates, the society and the government.

While every day, thousands of businesses are being born aiming to focus on a number of business opportunities, it is indeed surprising to note that,  most of them fall drastically short when posed with the above question with respect to their stake holders.

Any action aiming to motivate others to perform an action has to compellingly address the question,

‘What is in it for me?’ . Otherwise, the desired action may just not take place or even if it takes place comes at an undue cost that makes it unprofitable in the first place.

Customers expect Value for money, Convenience, Psychological Gratification or an approval in the Society for being seen to be a consumer of a product or a service that they consume, Shareholders expect dividend and value appreciation, Employees expect salaries, status and job satisfaction, Government  expects taxes and compliance, Vendors & partners expect fair dealing and timely account settlements in a win –win manner etc. 

Successful Organisations not only aim to achieve that the above are taken care, but also are competently addressed better than the rest of the competitors offering similar services.

‘ Explain What is in it For me and you have my attention’- Anonymous..

Let us take the example of Google Inc:

Stake Holder	What is in it for me..
User	Best in class Search experience, mail and related applications
Advertiser	Hi quality reach and an excellent gang for the buck..
Employee	Amazing work life experience, job satisfaction and above par perks, Status in society..
Shareholder..	Consistently top class returns for their investments
Government.	Access to Information, compliance and taxes from the company and its employees, empowerment of the citizens through information access .

It may happen that the Market shares are determined by how long and how well a company consistently scores well on the above parameters, it is important to note that the relative performance at any given point of time determines the financial performance of the company.

There are a number of cases which we observe, when the organisations which have hit the right formula in all these aspects, loose sight of these very fundamentals and slip out of the minds of their stake holders, but not keeping up with the dynamic and ever changing environment.

For example, My Space and Orkut used to rule the Social Media space before new entrants

Face Book and Twitter swept the ground under their feet, while Linkedin continues to hold its ground by reinventing itself continuously and improving its score on all the above parameters day by day.

This situation can be applied to any field and any situation and you can observe that the real winners are those who consistently offer something better than the rest to those who deal with them.

While Bill Clinton won the Presidential elections with his promise to further the economic strength of United Sates and delivered on the same successfully, Obama came to power by his focussed agenda to restore the pride of Americans through a badly needed economic turnaround.

Successful Organisations in any walk of life are forever asking themselves. ‘Are we addressing the ‘WIIFM’ question and put in place systems and action plans that consistently increase the gaps with respect to their competitors.

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Please contact me at ms@mastermentors.in for any comments and observations..