Before you start scaling any new initiative, nail your value proposition.
Without a great value proposition, you are basically doomed to fail your scaling activities.
A value proposition is a promise of value to be delivered and the primary reason a prospect will buy from you.
It is your big, bold claim.
You can recognize a well build value proposition immediately. If done correctly it:
🔹 Explains how your product solves the customers' problems or improves their situation (relevancy);
🔹 Delivers specific benefits (quantified value);
🔹 Is replicable without changing it per prospect (scalability);
🔹 Tells the ideal customer why they should buy from you and not from the competition (unique differentiation).
Writing a value proposition is not something you do from behind your desk. In our experience, it takes 5 to 7 problem-discovery experiments to figure out how to be relevant.
You should run between 4 and 6 solution discovery experiments to determine your quantified value and unique differentiation, and you may need between 30 to 40 pitches to nail the scalability of your proposition.
Remember my last post about "Good things take time?" This is a perfect example.
After you have done all the required experiments, you can start writing. Make sure you nail every point here;
🔹 Clarity! Your value proposition is easy to understand;
🔹 Your value proposition communicates the specific results a customer will get after using your products and/or service. Use metrics when possible to be even more specific;
🔹 It shows what makes your product 10x better/cheaper/quicker/safer than the existing alternatives of your customer;
🔹 It avoids hype (like 'never seen before amazing miracle product'), superlatives ('best') and business jargon ('value-added interactions');
🔹 It avoids technical features and specs and uses benefits instead;
Your central promise can be read and understood in about 5 seconds.
Your value proposition is the centre of everything you do.
Nail it, and start scaling.
-
Don't create unicorns,
Let's breed blue whales.
🐋