Your business needs to meet the needs of its stakeholders, not just its customers. We have to answer the question, what do your employees, partners, and owners want from your business?
Employees
Start by listing out all the needs your employees have as it pertains to your business. Write your list in the top box under the title "employees" on the StacDek Stakeholder Value Map - Part 1.
Needs are much different than Value-adds. If your business doesn't meet the needs of your employees, they will most certainly quit. Needs are things like market compensation, insurance, and basic respect, to name a few.
Value-adds alone won't make someone want to work for you. Value-adds come after basic needs are met. They could be things like remote working, flexible schedules, child care, stocked breakroom or free tickets to annual events, to name a few. What type of employees you are looking for will determine what a Need and a Value-add is. Value-adds are critical for attracting and retaining top talent. Some of the best value ads that you can make available to your stakeholders will be things that they didn't already know they wanted. For instance, strong company culture is one of the top reasons that people choose to stay with their current employer. But it's not one of the top-value ads. The employees are usually looking for when they are job hunting. Over time most employees' priorities will shift from simply career advancement to quality of life and company culture. Some value ads will have to be experienced to be appreciated.
Partners
Fill out the needs and Value-adds that matter to your critical partners. Partners usually expect fewer perks from your business than your employees, but they have Needs and Value-adds too. For instance, a need might be on-time accurate payment for orders or services. A Value-add that your partners might have is high delivery accuracy or early payment of invoices, easy access to the CEO, or an invitation to the annual company party. What your partners want and need will be determined by the type of partner they are.
Owners
Owners run businesses because they want the business to provide for their needs and wants. If you are the only owner, this next step will be much easier. The more owners and types of owners you have, the more you will need to consider. Write down what the owner(s) needs from the business in the box provided. Needs can be things like a certain income level, purpose, and freedom of time.
Owner Value-adds are simple but important to outline. Most owners end up working for their business instead of on it. This means the owner can have the worst job in the company. Are there simple things your business can do to help the owners to stay engaged and motivated? Owner Value-adds could be things like a clear management system that protects the owner's time, an assistant, remote work days or good project management tools. Write down the owner(s) Value-adds in the box provided.
Your business needs to meet the needs of its stakeholders, not just its customers. We have to answer the question, what do your employees, partners, and owners want from your business?
Employees
Start by listing out all the needs your employees have as it pertains to your business. Write your list in the top box under the title "employees" on the StacDek Stakeholder Value Map - Part 1.
Needs are much different than Value-adds. If your business doesn't meet the needs of your employees, they will most certainly quit. Needs are things like market compensation, insurance, and basic respect, to name a few.
Value-adds alone won't make someone want to work for you. Value-adds come after basic needs are met. They could be things like remote working, flexible schedules, child care, stocked breakroom or free tickets to annual events, to name a few. What type of employees you are looking for will determine what a Need and a Value-add is. Value-adds are critical for attracting and retaining top talent. Some of the best value ads that you can make available to your stakeholders will be things that they didn't already know they wanted. For instance, strong company culture is one of the top reasons that people choose to stay with their current employer. But it's not one of the top-value ads. The employees are usually looking for when they are job hunting. Over time most employees' priorities will shift from simply career advancement to quality of life and company culture. Some value ads will have to be experienced to be appreciated.
Partners
Fill out the needs and Value-adds that matter to your critical partners. Partners usually expect fewer perks from your business than your employees, but they have Needs and Value-adds too. For instance, a need might be on-time accurate payment for orders or services. A Value-add that your partners might have is high delivery accuracy or early payment of invoices, easy access to the CEO, or an invitation to the annual company party. What your partners want and need will be determined by the type of partner they are.
Owners
Owners run businesses because they want the business to provide for their needs and wants. If you are the only owner, this next step will be much easier. The more owners and types of owners you have, the more you will need to consider. Write down what the owner(s) needs from the business in the box provided. Needs can be things like a certain income level, purpose, and freedom of time.
Owner Value-adds are simple but important to outline. Most owners end up working for their business instead of on it. This means the owner can have the worst job in the company. Are there simple things your business can do to help the owners to stay engaged and motivated? Owner Value-adds could be things like a clear management system that protects the owner's time, an assistant, remote work days or good project management tools. Write down the owner(s) Value-adds in the box provided.