A one day workshop for Woman Entrepreneurs. These slides are how to develop a strong value proposition and some examples

1. HOW TO VALIDATE YOUR
PRODUCT IDEA, CREATING
VALUE FOR YOUR
CUSTOMERS
Smitha Hemmigae
(smitha.hemmigae@gmail.com)
Building a Better Market and Managing Finance
A One Day Workshop For Women Entrepreneurs
Mount Carmel College, Bangalore

2. Agenda
 Nine basic building blocks
 Product development stack
 Value proposition
 Key elements to create a strong value
proposition
 Apply in real life scenarios
 Nike+
 Soul Santhe
 Sparsha Technologies

3. Nine basic building blocks

4. Product development stack

5. Value proposition
 The best entrepreneurs don’t care about “ideas.
And neither do their customers”
 They only care about Value
 A value proposition is generally a clear and
succinct statement (e.g., 2-4 sentences)
that outlines to potential clients and
stakeholders a company's (or individual's or
group's) unique value-creating features
 A value proposition is a clear statement of
the tangible results a customer gets from
using your products or services
 A value proposition is an offer to some
entity or target in which they (the
possessor) get more than they give up
(merit or utility), as perceived by them
 A value proposition is the basic reasoning
for why people should consider your
product or service
 Describes what you do in terms of tangible
business results. It draws interest and
shares a success story within a few words

6. A Value Prop statement must
contain
 Describe "What" we
provide
 Answer "So what?"
 Quantify "How
much"
 Provide Proof

7. Key elements to create a strong value
proposition (1/1)
 Start with core competencies:
 what are you really good at?
 Look at trends in the industry
 Are things changing?
 Can you take advantage of a trend and grab an exciting
position in the market?
 Study your customers
 Who are your top customers?
 What problems do you solve for them?
 What problems do they want solved?
 Is there a new trend in any of your key customer
segments?
 Turn core competencies into values
 Ask yourself why someone should buy from you
instead of a competitor.
 Using the language of your customers, refine your core
competencies as values.
 If your answer is “best selection”, “best customer
service” or “fast shipping” your potential success may
be limited. These qualities do not make a business
unique

8. Key elements to create a strong
value proposition (2/2)
 Study the competition
 Choose 3 or 4 competitors and
study how they market their
company and products
 What is their value proposition?
 Can they defend it?
 Map their core competencies
versus yours
 Build a value chain
 Articulate the value proposition
(in one sentence)
 Test the final value proposition
with customers to see whether it
resonates

9. Nike+
 All humans competitive in nature; Need to be fit
 Nike understands their target audience is always changing and evolving due to constant market
changes, driven primarily by technology and the Internet
 In response to their changing environment, Nike created a special group dedicated to designing
technology products
 The group’s mission was to find ways to connect and engage with consumers
 Nike+ Co-creates a community of runners
 Introduced a sensor in the shoe which record the distance a person has run
 Cashed in on the iPod and smartphone wave and connection between music and running - as a
smart shoe, they realized, wasn't enough—you needed a device to save the data
 Both companies saw profit potential if they could develop the system together, so the Nike and
Apple teams each took on different parts of the project. Apple refined the sensor that Nike had
prototyped, making it smaller and more durable. Nike focused on the shoes and the interface for
the Web and the iPod. It created a simple system based around the idea of setting goals
 After each run, one can sync their iPod to the Nike+ Web site and get a visual representation of
the workout—a single green line
 Also expanded it other devices like Nike+ stopwatch GPS, Fuelband, Kinect training, etc
 Nike has enhanced and expanded their brand using Nike Plus to provide a platform to engage
consumers in a manner that is relevant, but still reinforces the core identity of Nike products
 Also has a social media platform created to unite the runner community and also has provisions
for sharing results and challenging runners to beat their best times

10. Nike+

11. Nike’s results

12. Soul Santhe
 Asha Rao, 58, may have witnessed a few defeats, but her passion
for fabric and arts ensured that she constantly strived to regenerate
her idea
 She wanted to showcase upcoming artists and designers; The idea
of organising a flea market came up
 Initial success when started in 1997; but had to shut the venture in 1999
 Started 2 fashion studios in Bangalore - Studio Kahawa and Studio
Sattva
 Though she wanted to expand the studios' space, high rentals deterred
her, as returns were not proportional to the amount of work
 Her reward: the success of her venture Soul Sante, a flea market
that is held in Bangalore five times a year started in 2010, after
shutting both the fashion studios
 Designers can hire stalls for Rs 5,000 a day and were provided
basic infrastructure like tables and electricity
 The entry ticket for visitors is fixed at Rs 49, and this includes
access to food courts as well as live music
 More than 17,000 people turn up for soul santhe

13. Sparsha Technologies
VIRTUAL ELECTRONICS WORKBENCH ON
CLOUD
COLLEGE
LICENSE
MODEL
SINGLE
LICENSE
MODEL

14. This means…
A STUDENT CAN SAVE THEIR CIRCUITS ON THE CLOUD
FROM DAY 1 AND RETRIEVE AND REFER TO THE CIRCUITS
WHENEVER THEY WANT. THEY CREATE A DIGITAL
PORTFOLIO. CAN ACCESS FROM HOME, DORM, LIBRARY,

15. Benefits
Student
• Get familiar with
industry
simulations to
acquire real skills
• Maintain digital
portfolio of
circuits on the
cloud
• Get confident on
industry Test and
measurement
devices
• More
employable
Teacher
• Use for
assignments and
reduce time
spent on logistics
• User searchable
circuit repository
to show live
circuits working
in classroom
• Increase
retention and
learning in class
by 40%
College
• Provide
simulation
access to each
and every
student at a cost
lower than few
licenses of
traditional
simulation tool
• Increase Audit
points for
Accreditation
• Increase
employability