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in my book the fred factor one of the principles that i talk about is the importance of out thinking rather than out spending your competition it's about how to replace money with imagination to add value to anything you do let me give you a crash course because there are only six ways that you can add value to your product or service or the experience that you create for your customers those six techniques are more better faster different less and funner now by the way I know funders not a word so if you taught English in a former life please no emails let's look at each of those more is quantity it's giving your customer more of what they want especially if it doesn't cost you much more to provide my family and I ate at a restaurant it was a 90-minute wait to get in and that restaurant as their claim to fame served big food I mean cake the size of your head a steak that hung off the plate we came back a month later for another dinner when I had an epiphany the food one that good but you see the restaurant knew that their big expenses were employees and the lease and the building and the equipment and it cost very little to increase portion size they understood they could add value by providing more now better is quality I love JetBlue airlines because they're what they call clever smart they're flight attendants and pilots don't wear the official uniforms that most airlines where they wear Armani knockoff suits now here's what's interesting they look better but the knockoff suits cost less than the uniforms so they create the perception of better through aesthetics or appearance and yet they don't spend more money they spend less to do it now faster is pretty obvious I mean the only thing your customer has less of the disposable income is disposable time and Domino's pioneered speed when they promised a hot tasty pizza in 30 minutes or less at the time the actual pizza delivery time averaged less than 30 minutes but what made Domino's brilliant was they made speed an issue and increasingly see that today in different areas whether it's loan approval or or food delivery different is a course of doing something unique or novel we all know that lettuce is a vegetable and it's a pretty basic vegetable but it wasn't until it became prepackaged and people started adding croutons and dressings in that prepackaged lettuce that that simple vegetable was literally reinvented by being presented in a different form or format less is also about quantity but it's about taking away the things that your client really doesn't appreciate or want to buy for instance disposable cameras disposable video cameras and even disposable phones let people enjoy a service for less than they would have to normally pay and of course funner is one of my favorites it's about adding fun to the equation it's why people take their kids to Chuck E Cheese for a birthday party they don't want to have to remodel their homes after a dozen screaming 10 year olds get done partying down so they take them to Chucky Cheese where they can be entertained by a giant mouse eat some pizza drink some sugar beverages and play the games and that funner is only part of the equation because at the Chucky Cheese where we take our kids they also serve beer so while the kids are partying down dad's able to mellow out having a nice cold beer and not worry about his house that's how you add value without necessarily spending much money to do it