Creating a captivating value proposition is the lifeblood of your potential venture. It solves some sort of market problem, or perhaps spices up an old industry. It performs something new and different that will drive value and customer-demand in an awesome way.
You can create a small amount of value, or massive value through your new venture. What matters is that you’re positively impacting a defined market.
Here are the three easy steps that anyone can take towards creating a captivating value proposition.
1. Find Your Unsolved Problem
This step is actually extremely easy but many people make it a bit complicated.
People are always complaining.
Average people will listen to these complaints and ignore them.
Entrepreneurs and problem-solvers take note of the complaints. They research people’s complaints and see if there is already a solution that exists in the market or not. If there isn’t a solution, then boom – it’s on. Now you have an opportunity to take to market.
Alternatively, you can still take note of problems/complaints that have already been solved. As long as you think about solving it in a different or more efficient manner. Think about your business can potentially bring to the table.
2. Fix Your Unsolved Problem
Fixing a problem is where real entrepreneurs are made. Anyone can come up with an unsolved problem. But the actual process of fixing it is where things get a little tricky. Actually solving a problem is what will create your brand, product or business.
It can be as easy as creating a highly detailed Kickstarter campaign that goes viral. Or, fixing an unsolved problem can be as complicated as trying to create a business that eliminates student loan debt.
Fixing problems usually lies somewhere in the middle of these two scenarios. It takes a lot of upfront work, but the rewards are massive. Entrepreneurship operates on an exponential scale!
3. Create Captivating Value Proposition
Once you’ve found a once-unsolved problem, and then actually solved it – you now have a legible value proposition. You can fully explain what your business or product will do differently to address a problem in the market.
You can write about what your business does to bring value to the market, and to the customer.
To sum it up, your Value Proposition is a phrase in 20 words or less which tells me why I should choose YOU over your competitors. Once you figure out what that “VP” is (and yes, it may take you thoroughly examining your competitors to do it), you pepper that “VP” throughout your website in the form of headlines, sub headlines and website content.
If you need helping developing your Value Proposition, please send an email to firstname.lastname@example.org or call me at 818.448.0868.