Successfully reported this slideshow.
We use your LinkedIn profile and activity data to personalize ads and to show you more relevant ads. You can change your ad preferences anytime.

Strong value proposition


Published on

  • Be the first to comment

  • Be the first to like this

Strong value proposition

  1. 1. 39 Wrentham Drive Medford, NJ 08055  609-636-9893   www.linkedin/in/harryhecht The Leader. The Expert. The Source. You can't get far without a strong value proposition. You've started a business (or are about to start one) as you think you have a great idea. And it may well be one. But the true test isn't how great you think your product or service is or how wonderful some others think it is. Praise from potential customers means little as well. What matters is getting customers to pay you! I start every mentoring match with two questions.The first is about what the individual personally wants out of his or her business.The second is “tell me about your business in ONLY TWO SENTENCES”. At this point, the best folks usually stumble for two to three minutes (insert Charlie Brown's teacher here – Wah, wah. Wah, wah, wah). Often I have to ask several more questions to figure out what exactly they do. Many times, they don't really know themselves. Customers won't be as patient – make it short and clear! That's why you need a strong value proposition.Simply put, a value proposition is something that appeals to a potential customer and will solve a problem better than something else. We like to scale this using the following guidelines - and I'm a harsh grader. Value to Customer if Value Proposition is... 0 - If unknown or undefined 1 - Unclear or low 2 - Recognizable, but only some value 3 - Value is clear, but not quantified 4 - Value is clear, but only moderate 5 - Value is very clear and the return on investment (ROI) to the customer is high and quantifiable A clear and concise explanation of your value proposition is crucial. A good example of this is “Helix is toothpick size pieces of steel wire which increases the strength ofconcrete by 40%, virtually eliminates cracks, reduce the cost by at least 20% and is safer and faster than rebar.” Generic sounding statements like “Helix is stronger, faster and cheaper.” aren't very useful. If you only rank at 3 or 4, maybe a few folks will buy, but getting lots of folks to make that critical first purchase will definitely be an uphill battle. Most people are inherently not risk takers. Buying something new for the first time may be no big deal to you or me, but it is to most of the population. They are much more likely to buy if they are convinced that you will help them save money or solve a problem which causes themreal pain. There's a huge difference between 'your reason to sell' and the customers 'compelling reason to buy'. You must do a lot of things well to be successfulin business.But with a clear and attractive value proposition to your customers, you'll be off to a great start. About the Author Harry Hecht, Business Coach and Consultant has more than 30 years of industry experience and was the former Regional Manager for US Banks` Office Equipment Finance Division. His extensive business experience includes a 22 year distinguished career as the Vice President US Dealer Sales for Konica Minolta Business Solutions and 5 years as VP/ General Manager for Global Imaging Systems, a Xerox Company. Harry Hecht is a member of the MPSA has been actively involved for over 10 years in the development, creation, implementation and growth of Managed Print Services programs throughout the independent dealer channel.