The Value Sheet
A simple four-column tool for working with a Buyer to uncover Value Gaps and the Sources of Value that could close them.
The Value Sheet is a way of working through a Buyer's situation together, sitting alongside them rather than across the table. It keeps the focus on what they want to achieve, which grows trust, and it gives you a clear record of what you have learned. It is a thinking exercise, not a form to fill in.
Value Gaps and Sources of Value
A Value Gap is the difference between the value a Buyer has now and the value they want. Gaps can be tangible, such as cost, revenue or productivity, or intangible, such as recognition, authority, less stress or more leisure time. They can also work in either direction: gaining something, or ceasing to lose something.
A Value Gap is not the absence of a product or service. It is the absence of a desired outcome. If production has dropped from 10,000 to 8,000 widgets, the Value Gap is 2,000 widgets, not a missing machine.
A Source of Value is anything that could close a gap. Sources are described in the Buyer's own language, with no products or brands. "A production line that runs 20 percent faster" is a Source of Value. A model number is not.
The four columns
Complete the sheet from left to right.
| Column | What goes in it | Questions that help |
|---|---|---|
| Situation | The challenges or problems the Buyer faces. | Hunt questions |
| Causes | What is behind each one. There is usually more than one. | Surface or Hunt questions |
| Approaches | Possible ways of dealing with each cause. These are the Sources of Value. | Paint questions |
| Value | What each approach would be worth, quantified where you can, in time and money. | Adjust and Paint questions |
See SHAPE questions for what each question style does.
A short example
| Situation | Causes | Approaches | Value |
|---|---|---|---|
| Unsightly floors | Wrong chemicals or poor application | Better training, better supervision, descriptive product labelling | Fewer errors, a more professional appearance, greater customer satisfaction |
| Not enough time spent cleaning | More effective chemicals, outsourcing the cleaning | A reduction in cleaning costs |
Getting to the real cause
It is easy to mistake a symptom for the problem. A Buyer who says "we have too many suppliers" has described a symptom. The real problem is why they have so many. Keep asking what is behind each answer until you reach a cause that, once dealt with, wouldn't simply come back. The "5 Whys" technique asks why up to five times. Soften it in conversation, because repeated "why" questions can sound blunt. Try "What makes that a priority for you?" or "What's that like for you?". Adding "for you" brings out the personal impact.
Thinking beyond the immediate
The further downstream a benefit is felt, the greater the value and the more people it matters to. A knife that holds its edge saves effort for the person using it. That means more output from the worker, and more output means more revenue. In inventing a solution, look for value as far downstream as you can without stretching credibility.
What if I can't help?
As you work through the sheet, keep asking whether this Buyer's situation is the kind of thing you can help with. If it isn't, exit gracefully and leave the door open, and spend your time on opportunities you can win. You can still help the Buyer on the way out, for example by pointing them to someone who can.