The essence of strategy is to find a different [but profitable] value proposition.”
The life and death of a business depend on its Value Proposition. Everything a business is and does depend on its Value Proposition. In spite of the importance of the Value Proposition, especially for startups who have not yet found Product-Market fit, it's surprising that simple, robust, and scalable tools do not exist for rapidly designing, analyzing, improving, and managing Value Propositions.
Recently, Alexander Osterwalder - a co-author of the Business Model Generation book - developed the Value Proposition Canvas as a practical and brand new tool that startups can use to achieve Product-Market fit. Despite an attempt at being comprehensive, Osterwalder's Value Proposition Canvas does not suggest how an organization can develop a "Value Proposition Statement." In addition, Osterwalder's Value Proposition Canvas is complex and time-consuming to use. Finally, the visual structure of Osterwalder's Value Proposition Canvas does not follow the Job-To-Be-Done (JTBD) Principle of "Customers Hire Products/Services to Get Jobs Done." The diagram of the Value Proposition Canvas focuses on "Product/Service" and "Job-To-Be-Done" while omitting "Customers."
The 1-Minute Value Proposition Act (VPA) provides an intuitive visual framework that allows anyone to develop( elements of) a Value Proposition in 1 Minute. The structure of the 1-Minute Value Proposition Act follows the Job-To-Be-Done (JTBD) Principle: "Customers Hire Products/Services to Get Jobs Done." The Value Proposition Act explicitly presents the 3 parts of the Job-To-Be-Done (JTBD) Principle: Customers; Products; Job-To-Be-Done.
The 1-Minute Value Proposition Act can also be scaled to facilitate testing and management of a Value Proposition Statement as well as Value Proposition Artifact while achieving Product-Market Fit. The 1-Minute Value Proposition Act uniquely synthesizes the latest ideas on how to design, analyze, improve, and manage Value Propositions while achieving Product-Market fit.
Try out the 1-Minute Value Proposition Act and reDesign your Value Proposition to attract more customers.
Your feedback would be appreciated.
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