Page 33 - GS200302

Education

outside that circle, and focus on 1. Prioritize the human element: Promote high-touch, boutique service to
that. Who are all the businesses, for increase engagement.
example, that could benefit from one
or more of your core competencies? 2. Strengthen strengths, address weaknesses: Identify core competencies
How can you expand your marketing and maintain focus on evolving them. Identify non-core competencies and
reach and build on the foundations determine whether to discontinue or outsource.
of your core competencies to reach
them? 3. Expand your definition: Identify the larger opportunity in front of you.
4. Deliver value beyond expectation: Find meaningful value-adds to pair
Let's take a step back in time to see this with your brand.
through a different industry. General
Electric began as a lamp company These principles are as timeless as the payments industry is in constant
and an electronic motors company. technological motion and transformation. As such, your efforts will never
Because it expanded its definition really be finished as long as you're still in business. Keeping the ideas shared
over time, today it is in everything herein uppermost in mind will help you look at your ISO as if you were one
from your kitchen and laundry room of its trusted advisers, and not as if it was the fledgling entity you originally
to industries including healthcare, hatched, or even the awkward teenage-like enterprise you shepherded through
aviation, renewable energy, global Y2K or the 2008 financial crisis.
research – the list goes on. General
Electric has a bright future and so do Now you have a blueprint for the future you will create. Being self-determined
you. Take acceptable risks to test how and proactive is always better than being reactively tossed around by the
far your definition may reach beyond whims of the larger industry. You are on course, and your future is going to be
your current scope and that of your a wonderful adventure.
competition.
Dana Adams Sills, is senior vice president at National Benefit Programs. If you have questions or
Deliver value beyond expectation would like help implementing the ideas set forth in this article, please reach out to her at dana@

Now that you've begun humanizing nationalbenefitprograms.com.
your customer experience, building
upon your core competencies,
realistically addressing weaknesses,
and expanding your definition, this
last step may already be partially
in process: deliver value beyond
expectation.

For many, this is the ultimate value-
add. What can you deliver to further
your brand and help you attract
and retain valued staff, agents and
clients? After you've worked the steps
described thus far, now is a perfect
time to find a strategic partner whose
core competency is this value-add.
They can handle the majority of the
work and execute like a pro that owns
their space.

Some value-adds are simply industry
norms (mobile solution, EMV
solution, back-office reporting). Here
we are talking about offering your
clients something they may never
have heard of before that they never
knew how much they needed all this
time. You can provide just that. Value
is key. Unique value is invaluable.

Be self-determined
To recap, in order to maximize your
value:
33