Business is the Activity of Creating Value

I know it is easy to believe that your business is different. Perhaps you have an unusual product, or a special process for manufacturing. Perhaps you have a monopoly due to government regulation or you trade with a unique sector of the market. But fundamentally every business is the same because the business of every business is creating value. Customers do not want your products and services, they want what your products and services can do for them. They do not want to know what you have to do to produce those products and services. They are not interested in the features of your products and they do not want service. They want value. Think of it this way, businesses do not so much make products and services as they buy customers by producing things that customers value.