Value proposition, aka, why your business stands out from the rest.
It’s how you’ve been defending your business ideas whenever you share them with people. Why your business is needed right now, in your location, and with your level of service.
In simple terms, a value proposition makes a case for why a customer should pick one product over another, citing the unique value the product provides over its contenders. It’s actually part of the Business Model Canvas – but the next step is to write it down clearly, concisely, and in a way that it’s easy to say out loud. (Download the Value Proposition Map)
Followed by these tips:
- Jot down all the products and services you offer that a customer would choose over someone else’s
- Describe how these products contribute to eliminating your customer’s “pain points” or problems that you’re trying to solve for them. Separate sticky notes should be used for each “pain reliever.”
- Describe how these products create a “gain” or positive result for your customer. Separate sticky notes should be used for each “gain creator.”
- Ultimately, all three elements; products and services, pain relievers, and gain creators should be ranked according to their relative importance to the target customer.
- Write it out cohesively in 4-5 sentences maximum. Practice saying it out loud. If it doesn’t feel natural, rewrite it. Keep doing it until it’s easy to say exactly why your business brings value to customers.
Want more? Get help with business planning:
- Launch & Grow class series – In-person or virtual 7-week class
- Your Business – Smart Start for Veteran and Military-Connected Entrepreneurs
- Work one-on-one with a business coach.
- Get advice on specific areas of your business through our many classes and trainings.
About the author
Osmir "Oz" Díaz is the Communications Manager at Business Impact NW,
dedicated to amplifying the work of diverse entrepreneurs online and offline.
Oz holds a variety of skills in digital marketing that she applies to her work for racial equity and social justice in the digital landscape.