how to avoid value migration

{inspiration: How to Drive Value Your Way by Michael G. Jacobides & John Paul MacDuffie, Harvard Business Review July/August 2013}

It is important to understand that you have control over your perceived value. In fact, I would argue that it is the most important tool you have in this highly competitive marketplace. So how do you avoid value migration? Here are 3 rules {of their 4} researched and gathered by the HBR for companies to use, with an Alicia Mathlin™ remix to serve your needs as an individual.

  1. Be The Least Replaceable Player – Make sure you know your actual value to the people that matter and then explore what you can do to become more valuable. Are you assertive? Reliable? Solution and results oriented? Are you a clear asset to the team? Or to your clients? Be honest with yourself when you answer these questions. Then do the work to become that player. Only you can make those moves – never wait for someone to tell you or suggest how you can improve. If that’s happening you are way behind. Get on it.
  2. Become The Guardian of Quality – Are you known for quality? Because value migrates to the person associated most with quality. What’s your output like? Are you consistently putting out your best? Can you be considered a ‘quality guarantor’? By becoming this person you are also going to be tasked with more responsibility/liability but I find this level of involvement also leads to leadership {and that’s what we’re after right?}. Don’t be afraid to put yourself out there if you are competent and confident.
  3. Follow The Customer {company, boss, etc…}  – People change as their needs change and with it, what they value can change. Are you ready for that possibility? Are you paying attention to the direction things are moving in? To be valuable, you need to be ahead of the game. You need to show your ability to anticipate and prepare for what’s next. It is only enough to be good at what’s happening right now but it is exceptional to be the person figuring out how to monetize what the future holds.

#GETITGIRL

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