P—Personal fulfillment: how much do you enjoy dealing with this type of customer? Sometimes we work with “pain in the butt” type customers just because of the money. Here you rate how much you enjoy working with this market segment.
V—Value to the marketplace: how much does this market segment value your work? Are they willing to pay you a lot for your work?
P—Profitability: how profitable is the work you do for this market segment? Sometimes, even when you are charging high fees for your work, when you look at the numbers it may be barely profitable or even loss-making. Remember it’s not about the “turnover,” it’s all about the “left over.”
For our photographer example, his PVP index may look as follows:
Weddings Photojournalism Personal fulfillment = 5 Personal fulfillment = 9 Value to the marketplace = 7 Value to the marketplace = 7 Profits = 9 Profits = 2 Total score: 21 Total score: 18 Corporate photography Family portraits Personal fulfillment = 3 Personal fulfillment = 9 Value to the marketplace = 6 Value to the marketplace = 8 Profits = 9 Profits = 9 Total score: 18 Total score: 26
V—Value to the marketplace: how much does this market segment value your work? Are they willing to pay you a lot for your work?
P—Profitability: how profitable is the work you do for this market segment? Sometimes, even when you are charging high fees for your work, when you look at the numbers it may be barely profitable or even loss-making. Remember it’s not about the “turnover,” it’s all about the “left over.”
For our photographer example, his PVP index may look as follows:
Weddings Photojournalism Personal fulfillment = 5 Personal fulfillment = 9 Value to the marketplace = 7 Value to the marketplace = 7 Profits = 9 Profits = 2 Total score: 21 Total score: 18 Corporate photography Family portraits Personal fulfillment = 3 Personal fulfillment = 9 Value to the marketplace = 6 Value to the marketplace = 8 Profits = 9 Profits = 9 Total score: 18 Total score: 26
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