ESTECH030 Value Proposition Handouts PDF

ESTECH03 0 Handouts 8 Prepared and compiled by: Y.E. Fernandez Topic for Discussion: Value Proposition What is the goal of a start-up or business? “Problem – Solution Fit”  Can you find someone to pay for it? “Product / Market...

ESTECH03 0 Handouts 8 Prepared and compiled by: Y.E. Fernandez Topic for Discussion: Value Proposition What is the goal of a start-up or business? “Problem – Solution Fit”  Can you find someone to pay for it? “Product / Market Fit”  Can you find someone to pay for it? Connecting Product Value to Customer Desire What is a Value Proposition? It is the worth you offer to your customers What is a Value Proposition? It should be clear why someone will choose your company over the rest/competition. What is a Value Proposition? A sentence or paragraph that clearly articulates what your business, product, service or organization does, who it brings value to, and why it is valuable to those people.  What is NOT a Value Proposition? 10x faster (speeds and feeds) Color screen 1-click purchase Automatic buttons Multi-channel recording These are Features and Functions  What are the drivers of Value Proposition? Need Pain Improvement Key Driver: Need Personal Business Entertainment Social Status Key Driver: Pain Inefficiency Unreliability / Inconsistency / Uncertainty Fear of losing out What is keeping them awake at night?  Key Driver: Improvement Saving Time Saving Money Quality Convenience  Customer Pain PITCHING INVESTORS Confidential Material: Property of Ken Singer Copyright 2013 Venture Dojo Pvt Ltd  The Solution PITCHING INVESTORS Confidential Material: Property of Ken Singer Copyright 2013 Venture Dojo Pvt Ltd  Value Proposition: Some statements “Saves you 30 minutes every day” “Helps you stop smoking so you can live longer” “Make sure you never miss your favorite TV show” “Helps you look 10 years younger” “Let’s people know you’re stylish and trendy” “Let’s you enjoy retirement early” “You’ll never be stuck without your digital documents” “You’ll always be able to get a ride home” PITCHING INVESTORS Confidential Material: Property of Ken Singer Copyright 2013 Venture Dojo Pvt Ltd  Value Proposition Turn “IT” (product) statements into “YOU” (customer value) statements PITCHING INVESTORS Confidential Material: Property of Ken Singer Copyright 2013 Venture Dojo Pvt Ltd Starbuck’s Value Proposition McDOnald’s B+Value Proposition For UBER’s Value Proposition: “Your day belongs to you. Uber is the smartest way to get around. One tap and a car comes directly to you. Your driver knows exactly where to go. And payment is completely cashless”. For AirBnB value proposition Airbnb is a community-based, two-sided online platform that facilitates the process of booking private living spaces for travelers. On the one side it enables owners to list their space and earn rental money. On the other side it provides travelers easy access to renting private homes. For Jollibee Food Corporation (JFC) Jollibee provides special Philippines meal at a cheaper price in a very much homely environment and is a place where people come for joy. For Apple: Apple is a company which has such a great brand and a great value proposition. For Adidas: To make light and convenient sports apparel that other competitors don’t make. For Samsung: “Imagine the amazing things we can build."