First, you could hardly pick a worse sounded selling point. It sounds like you're an enema sales person. Sorry, not interested.
But if you're removing waste, haven't you already defined value? By definition yes, but you probably got it wrong because you were focusing on what to get rid of (usually by the effect on the bottom line).
Think of your definition of value as the answer to the WHY of your organization. That's hard for most people, and it's why it's usually avoided. But if you put in the effort up front the other steps become manageable.
Following the idea of the Golden Circle, how do you deliver value once you know what it is? By focusing on the flow. Value flow in your organization. Sometimes it's like a meandering stream, but if you're starting it's more likely to look like raging rapids (and possibly abrupt waterfalls).
Focus on effectiveness first, then work your way towards efficiency. Don't start with a war on waste. Avoid the enema.