Valuable Final Product (VFP) is the result of a company's work or that of an individual employee.

The acronym VFP stands for:

- Valuable: a subjective quality that attracts attention when deciding whether to purchase a product; the greater the value, the higher the cost.

- Final: indicates that the work is completed and the product is ready for use.

- Product: the tangible outcome of work that can be seen and applied.

Every activity has a VFP. However, the value is determined not by the person working on the product, but by the person consuming it. If the end result is not in demand among consumers, there is no point for the company to produce it.

Company’s Valuable Final Product

To satisfy a customer, it is important to correctly identify the company’s VFP. For example, if you own an electronics store and consider profit from sales as your VFP, salespeople might try to “push” the most expensive models on customers. As a result, a customer might listen to an hour-long lecture on the benefits of expensive gadgets and leave without making a purchase. However, if your VFP was a satisfied customer, the salesperson would act differently: they would ask what the smartphone is needed for, what criteria are significant, and how many hours a day the person spends with the gadget in hand. This way, they would select the optimal option that fits the customer in all parameters, leading to a purchase and customer satisfaction.

When developing a strategic plan, it is always necessary to formulate the VFP and include it in the mission. This way, every employee knows what they are working for. It helps achieve high results and promotes the company. In Business Booster, all employees know that our product is not the consulting program, but the systematized business of the client. This allows consultants, salespeople, and other team members to work more effectively in providing and assisting the client.

Employee’s Valuable Final Product

To increase the efficiency of the enterprise, it is necessary to know the VFP of each position, not only of the entire company. When a manager knows what result should be obtained from a certain type of activity, they formulate job descriptions and know the responsibilities of each team member. This allows for monitoring employee efficiency.

Knowing the VFP of each position allows the development of an effective organizational scheme. It structures the company's work: each person knows their area of responsibility and duties. With the help of this organizational structure, the company can avoid overloading individual workers, missing deadlines for orders, and other contentious issues and problems.

Let’s consider the VFPs of several key positions:

Sales Manager’s Valuable Final Product

The VFP of a salesperson is revenue. It should not be confused with profit, as that is the responsibility of the financial director. The responsibility of the salesperson is specifically the inflow of money.

Although I mentioned earlier that the company’s VFP should be a satisfied customer, that is not the goal of the salesperson themselves. Whether the customer is satisfied depends on many factors: the quality of the product and service, the presence of a bonus system, the appearance of your store, etc. Therefore, this is the VFP of the entire company, not a specific position. While everyone is responsible for satisfaction, the sales manager is specifically for attracting money to the company.

Accountant’s Valuable Final Product

There are often difficulties with identifying the VFP of accountants, as they do not produce anything that can be handed over to the consumer. However, thanks to the accountant's activities, the company's assets are safe: financial accounting is impeccably maintained and reflected in the form of reports.

Marketer’s Valuable Final Product

A specialist in marketing should package, place, and prepare the product for sale so that the consumer wants to buy it. The VFP of the marketer, in this case, is the completed campaign, during which the company received a significant response to the product from the audience.

Business Owner’s Valuable Final Product

The VFP of an entrepreneur is the entire activity of the company. Not individual functions like work organization, but the result of the work of the entire enterprise. For example, in a legal company, this could be a client who has no legal problems or whose rights are protected.

At the same time, a valuable final product is something completely ready. If the client did not receive a consultation from a lawyer or did not pay for it, it is considered that the business owner did not receive the VFP.

When a subordinate knows their VFP, it motivates them to work more efficiently. They feel like part of a larger process and strive to contribute to the common cause. Therefore, it is essential for the owner to define the VFP for each position, as this will yield results.

Conclusions

The VFP is the valuable final product that the company or an individual employee receives as a result of their activities. The company’s VFP should be clearly stated in the company's mission so that the entire team knows what to aim for.