Regardless of the type of organization you run, its value matters.
It matters to nonprofits just as much as it does to for-profits; to new businesses as well as established ones; and to businesses with steady growth and to those on the fast track.
It's why you need to fully clarify and repeatedly articulate your organization's value.
That said, what you should communicate about your organization's value and how you communicate it can depend on the situation and who you are talking to.
Here are a few examples to illustrate the point:
The Value Stories of Businesses for Sale
Business owners who hope to sell their businesses need potential buyers to fully understand both the current and future value of the business if they want to secure the most attractive multiple.
The Value Stories of High-Growth Companies
High-growth companies need to communicate value to a wide range of groups in order to keep growing. New prospects, existing customers, employees, partners, banks and investors all have different needs and need a value story tailor made for them.
The Value Stories of Nonprofits
Nonprofits need to attract top talent and like-minded partners, as well as secure funding from foundations and individuals. They must be able to communicate not only a compelling value story overall, but multiple variations of that story to align with disparate stakeholder goals.
YOUR ACTION STEPS
Once you understand your organization’s long-term strategy, develop a list of external stakeholder groups your organization needs to achieve its goals. With that list in hand, determine why value matters to each stakeholder group in order to figure out the best way to communicate your organization's value to each.
