Define your Value Proposition

Business Model Innovation

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Course Modules

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Module 1	Business Model Innovation
Unit 1	Business Model Innovation Pretest
Unit 2	Define your Customer Segments
Unit 3	Define your Value Proposition
Unit 4	Channel Strategies
Unit 5	Customer Relationship Types
Unit 6	Key Revenue Streams
Unit 7	Key Resource Types
Unit 8	Key Activities your Business Engages in
Unit 9	Key Partnerships
Unit 10	Important Cost Structures
Unit 11	Business Model Innovation Posttest

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Unit Video

Unit Summary

The 4 questions to ask yourself about as you define your value proposition:

What is the problem that you are trying to solve?
What is the value that your product or service add to your target segment?
How do you address the needs of your target segment?
How is your value proposition different from others – or unique?

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Transcript

In this video we will learn how to define your value proposition so that it has the maximum impact on your clients.

Your value proposition is what defines your business, and what excites your clients to do business with you. If you are not exciting your clients enough, they would not go through the effort of trying your product or service.

Here are 4 questions to ask yourself about as you define your value proposition:

What is the problem that you are trying to solve?
What is the value that your product or service add to your target segment?
How do you address the needs of your target segment?
How is your value proposition different from others – or unique?

Keeping your value proposition clear and effective allows you to communicate it effectively within your company and to your target segments. Every one of your team members needs to understand how their work contributes to that value proposition.

Case Study

As Julie defines the value proposition to schools for her STEAM application, she finds research that shows how the engagement in STEAM educational apps can help students do better in their school and later careers. Her value proposition to the school is that by using her app, schools can stay in touch with their students after school hours, position themselves as innovators and could generate sales in the app through additional fees.

Quotes

If you don’t have a competitive advantage, don’t compete. Jack Welch