Value Defined

"What do you want to be when you grow up?"

We have all heard that phrase many times and in many variations. What is your major? Where have you applied? Where do you work? Invariably we meet people that know with absolute certainty what they want to do and how they want to get there. I envy that clear thinking.

Many people are less certain. More than half of all college students change their majors at least once before graduation. Changing career goals does not just happen in college. There are instances of people who, after decades in one field, will change careers because they decided they wanted to be something else when they grow up.

On my desk is a Craftsman 3/16" slotted (flat head) screwdriver. It is a simple device that can be used for many things beyond inserting or removing screws. It can pry the lid off a paint can. Scrape gum off the sidewalk. Break a block of ice. Remove dried snot from hard surfaces. It is valuable because it has broad utility. It is useful.

Last year I was saying that I wanted to create something of value. At the time, value was defined as creating a company that I could sell (cash out). What kind of company? I didn't know, but it would be the valuable kind. What product or service would the company produce? I didn't know that either.

This morning I was marveling at this screwdriver on my desk. The design is simple. It is easy to use and inexpensive to purchase. It is a great tool for many things. It allows the user to create things.

Simple. Affordable. Useful.

That's when I realized that the focus of my definition of value was misplaced. Instead of creating a company that is valuable, a better goal is to focus on creating a product or service that is valuable to the market. A screwdriver doesn't drive a screw or scrape gum by itself, it is the tool that helps someone do that function better.

The difference is subtle but important. Create something of value, but of value to the customers or the users to help them to do something better. Do not focus on the company, focus on the product or service provided.

When I grow up, I still want to create something of value; I just have to find out what that is.