The lecture on Value Proposition Canvas Part A explains why the concept is of so much importance especially to first time entrepreneurs.
Startups sustainability requires in-depth understanding of the target customers. Failing at this stage will have costly repercussions for the entrepreneur and his business.
Part A discuss the Value Proposition Canvas definition, value proposition examples, and how Value Proposition Canvas is different than Business Slogans.
16. Value Proposition
What is not V.P.?
Not a Slogan
Not Glorious Description of Your Product/Service
Not about YOUR COMPANY or GREAT TEAM
17. Value Proposition Canvas
Think Different
Save Money: Live Better (Walmart)
Just Do It
Get there: Your Day Belongs to You
Because You are Worth it
A Diamond is Forever
Rides within Minutes
Simplify the Business of life
18. Value Proposition Canvas
Rides in Minutes (Lyft)
Get there: Your Day Belongs to You (Uber)
Save Money. Live Better (Walmart)
Simplify the Business of life (Intuit)
21. Value Proposition
Important
Insignificant
Functional - Like getting from Point A to B
Social - Impressing friends & Family
Emotional - Gaining Peace of Mind
Customer Jobs can be of 4 Types
Supporting Jobs - Buyer, Co-Creator,
Transferrer
22. Value Proposition
Pains are situations your customers are
trying to avoid. like;
Dissatisfaction from an existing solution,
Frustrations,
Risks,
Obstacles related to performing the job
23. Value Proposition
Gains are positive outcomes that
customers HOPE to achieve like;
Concrete results, Benefits and even,
Aspirations
Required Gains
Expected Gains
Desired Gains
Unexpected Gains
24. Value Proposition
The List of Products and Services on
which you build your value proposition
You describe in which way these
products and services are the Pain
Relievers and Gain Creators for your
target customers