It is important to make my customer believe there is real value in buying my solution.
How this helps you
As an entrepreneur it is a pitfall to become focused on the product and the numbers. Always keep in mind what value you are providing. And this goes beyond the product or service itself. For example, when you are selling lamps you actually provide the value of being able to see in the dark.
What is it?
The value proposition is the company’s offering, a product or service, but translated in terms of customer value. A value proposition can apply to an entire organization, or parts thereof. It may target specific customers or product ranges.
The Value Proposition Canvas is a tool that explains how you are creating value for your customers. It helps designing products and services that customers want.
How does it relate?
The Value Proposition Canvas is based on the Business Model Canvas. It connects two of the nine essential elements of a business model to create the value proposition: the customer’s problem and the company’s products or services.
Your next Waypoint
Try describing your company’s product or solution in a way that indicates what exactly is the value for the customer. Sharpen that by applying the Value Proposition Canvas. Find out more about the canvas through businessmodelgeneration.com/canvas/vpc