To be loved or to be needed

To be loved or to be needed

BUSINESS MATTERS (Beyond the bottom line) By Francis J. Kong (The Philippine Star) Updated September 19, 2010 12:00 AM

“I love my iPhone,” says a certain person. His officemate counters, “Me, I love my Communicator.”

You must have heard these before, but have you ever heard of anyone saying, “I love my deodorant!” or “I adore my shampoo!”?

A friend of mine says, “I love my Patek.” while another says, “I love my Beamer.” But I’ve never heard either say, “I love my toilet paper.” or “I adore my chewing gum.”

According to business philosopher Ted Leonsis, high-priced products can be classified as “Fidelity” products. Leonsis made a lot of money running America Online during its dynamic period, and even bought the Washington Capitals hockey team in 1999. This is no small-time businessman talking. Leonsis has a philosophy in business that helps him evaluate business opportunities. He determines whether a business is either loved or needed.

Products under fidelity category are loved, but they’re not necessarily needed. First-class airline seats where passengers can lie down in, luxury cars that come with navigation systems, rock concerts where die-hards jump into a mushpit, the little blue box that contains every woman’s dream… These are things that are first and foremost loved by their owners, though they would justify that these things are really needed.

Meanwhile, ordinary, day-to-day consumables like shampoo, soap, toothpaste and deodorants are not fidelity products. They are convenience products. They are needed but not necessarily loved. This is why I smile a little whenever I see shampoo commercials featuring pretty movie personalities saying, “I love my shampoo!”

Now here is my point: I need my shampoo, but I don’t love it any more than my deodorant or toilet paper. These products are highly needed, but they don’t really need to be loved.

High-fidelity products or services are valuable and rare. Therefore they often occupy a high-end niche and are relatively expensive. They may have fewer customers but this is part of the package. In fact, their exclusivity lends them their social cachet and identity. On the other hand, convenience products or services are not rare. They serve the mass market. They have many competitors, and their easy availability puts a lid on their price structure. They cost little and demand a lower price, but they cover a wider base.

Both successful high-fidelity products or services, and successful high-convenience products or services can be great businesses
. They are just different kinds of businesses.But it’s very hard to have products and services that are both loved and needed, to be both high-fidelity and high-convenience. In fact, trying to achieve both can lead to a breakdown.

As I study this concept, I realized that every single person in the work place could position himself or herself to be either in the “Fidelity” category or in the “Convenience” category.

Most people are satisfied positioning themselves as “needed.” They provide convenience, yes. The thing is, there are so many others out there who can provide the same service and value.

And then again, there are those rare winners who work hard on themselves until they reach a position of being loved and needed. These are the people who work harder on themselves than they do on their jobs. They read books. They attend seminars (both company- and non-company-sponsored events). They look for challenges and hate the status quo. They live their lives skillfully, but they don’t cut corners. They are driven to improve themselves and the way they do things. The process earns them the distinction of being extremely needed and loved. They are no longer “Convenient” they have become “Fidelity”. This is why no economic recession or turbulence could shake them.

Work towards this goal. Be satisfied with what you got, but never be satisfied with where you’re at. God does not invent junk. He has given us the facility to achieve greatness – to grow to be loved and needed. Work towards that goal.