Value Proposition – Create compelling products and services

Competitive Analysis – Getting ahead of the competition

“Companies that solely focus on competition will die. Those that focus on value creation will thrive.” – Edward de Bono
When you’re starting a new project or a new company it is very important to define which values your innovation brings to the market, also known as value proposition.
A value proposition is where your company’s product offer intersects with your customer’s desires.
Basically, it’s the magic fit between what you make and why people buy it.
It is a simple tool that quickly gets you to the ‘minimum viable clarity’ require to test your ability and services. The canvas contains two areas – your product and your customers. Each area has three elements: products and services, pain relievers, and gain creators.
Let’s start bringing up that value!

Action: Start creating your value

Organize information about what the customers want in a simple way that makes the patterns of value creation easily visible.

  • Step into your customer’s shoes. Try to understand what matters most to the customers
  • Look at your each customer profiles separately; understand their story and what product/solution they are looking for to solve their existing problem
  • Identify your customer pains including obstacles and risks
  • What outcomes and benefits does your customer expect? List down as many gains as you can come up with
  • Rank the ‘Pains’ from most extreme to moderate pains and ‘Gains’ from essential to nice-to-have gains at the bottom

Make a copy using Google Docs-> File->Make a copy option.

Additional Tips:

  • Don’t mix several customer segments in one profile. Make value proposition for every different customer segment
  • Keep this question in mind: Why customers should buy from you over your competitors
  • Use different sticky notes for each pain reliever and gain creator
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