{"id":51458,"date":"2021-10-06T07:59:00","date_gmt":"2021-10-06T11:59:00","guid":{"rendered":"https:\/\/www.shortform.com\/blog\/?p=51458"},"modified":"2021-10-18T13:28:24","modified_gmt":"2021-10-18T17:28:24","slug":"business-value-proposition","status":"publish","type":"post","link":"https:\/\/www.shortform.com\/blog\/business-value-proposition\/","title":{"rendered":"What Is a Value Proposition?\u2014Business Basics"},"content":{"rendered":"\n<p>What exactly is a value proposition? Why is it important to provide <a href=\"https:\/\/www.shortform.com\/blog\/unique-value-understanding-michael-porter\/\">unique value<\/a> to your customers? <\/p>\n\n\n\n<p>As the name suggests, your business&#8217;s value proposition is the value you provide to your customers in the form of products or services. When defining your value proposition, consider the nature of your product\/service and how it is different from your competitors\u2019 products\/services. If you\u2019re servicing the same customers, with the same needs, at the same price, you are not providing unique value. <\/p>\n\n\n\n<p>Here are some things to consider as you define how you intend to offer value to your customers. <\/p>\n\n\n\n<!--more-->\n\n\n\n<h2 class=\"wp-block-heading\">Defining Your Value Proposition<\/h2>\n\n\n\n<p>Your business&#8217;s value proposition outlines the benefits you intend to provide in the form of products and services. The authors state that successful value offers align with the needs of your customers <em>and<\/em> differentiate themselves from existing solutions.<\/p>\n\n\n\n<p>When creating your value offer, consider these questions:<\/p>\n\n\n\n<ul class=\"wp-block-list\"><li>Do you intend to disrupt the market with an innovative value offer, or do you intend to improve upon what\u2019s already out there?<\/li><li>What specific value do you intend to deliver to the customer?<\/li><li>How will you adapt your value offer for each of your <a href=\"https:\/\/www.shortform.com\/blog\/customer-groups\/\">customer groups<\/a>?<\/li><li>What makes your value offer more appealing than that of your competitors?<\/li><\/ul>\n\n\n\n<p>(Shortform note: Osterwalder and Pigneur\u2019s <a href=\"https:\/\/www.strategyzer.com\/books\/value-proposition-design\"><em>Value Proposition Design<\/em><\/a> delves further into the topic of creating, testing, and improving your value offer.)<\/p>\n\n\n\n<figure class=\"wp-block-table\"><table><tbody><tr><td>Businesses often associate value creation with competition\u2014they assume that they need to offer something that outperforms and displaces what\u2019s currently on the market. However, <em>Sesame Street<\/em>, life coaching, and Viagra all prove that <a href=\"https:\/\/www.blueoceanstrategy.com\/blog\/what-is-nondisruptive-creation\/\">it\u2019s possible to create innovative products and services without disrupting existing markets<\/a>. Instead, the businesses behind these products and services bypass competition by focusing on creating demand in entirely new marketplaces.<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>Communicating Your <\/strong>Value Proposition<\/h3>\n\n\n\n<p><a href=\"https:\/\/www.shortform.com\/blog\/how-to-craft-a-story\/\">Creating a story<\/a> centered around the value that your business offers, from the perspective of either an employee or customer, will enable you to engage your listeners and effectively communicate your business&#8217;s value proposition. You can create multiple stories for different customer groups your business intends to target.<\/p>\n\n\n\n<p>Marketing expert and author of <a href=\"https:\/\/www.shortform.com\/app\/book\/purple-cow\"><em>Purple Cow<\/em><\/a>, Seth Godin, argues that businesses can\u2019t overcome resistance unless they <strong>create and frame their stories from the perspective of each audience they target<\/strong>. In other words, <a href=\"https:\/\/seths.blog\/2009\/11\/a-new-cover-a-new-foreword-but-the-same-book\/\">to effectively engage and resonate with your listeners, you need to recognize that each audience you address has different priorities<\/a>. For example, your team cares about how your business model will affect their jobs, whereas your investors care about how they\u2019ll profit from your business model.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>What exactly is a value proposition? Why is it important to provide unique value to your customers? As the name suggests, your business&#8217;s value proposition is the value you provide to your customers in the form of products or services. When defining your value proposition, consider the nature of your product\/service and how it is different from your competitors\u2019 products\/services. If you\u2019re servicing the same customers, with the same needs, at the same price, you are not providing unique value. Here are some things to consider as you define how you intend to offer value to your customers.<\/p>\n","protected":false},"author":7,"featured_media":9946,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[45,79,103],"tags":[514],"class_list":["post-51458","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business","category-entrepreneurship","category-sales","tag-business-model-generation","","tg-column-two"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v24.3 (Yoast SEO v24.3) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>What Is a Value Proposition?\u2014Business Basics - Shortform Books<\/title>\n<meta name=\"description\" content=\"Value proposition is the value your business offers in the form of products\/services. When creating your offer, consider these questions.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.shortform.com\/blog\/business-value-proposition\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"What Is a Value Proposition?\u2014Business Basics\" \/>\n<meta property=\"og:description\" content=\"Value proposition is the value your business offers in the form of products\/services. When creating your offer, consider these questions.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.shortform.com\/blog\/business-value-proposition\/\" \/>\n<meta property=\"og:site_name\" content=\"Shortform Books\" \/>\n<meta property=\"article:published_time\" content=\"2021-10-06T11:59:00+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2021-10-18T17:28:24+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/s3.amazonaws.com\/wordpress.shortform.com\/blog\/wp-content\/uploads\/2020\/06\/the-art-of-stress-free-productivity-getting-things-done-scaled.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"2560\" \/>\n\t<meta property=\"og:image:height\" content=\"1707\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Darya Sinusoid\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Darya Sinusoid\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.shortform.com\/blog\/business-value-proposition\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.shortform.com\/blog\/business-value-proposition\/\"},\"author\":{\"name\":\"Darya Sinusoid\",\"@id\":\"https:\/\/www.shortform.com\/blog\/#\/schema\/person\/0421cce75bc249b11e2517b3a91f9c46\"},\"headline\":\"What Is a Value Proposition?\u2014Business Basics\",\"datePublished\":\"2021-10-06T11:59:00+00:00\",\"dateModified\":\"2021-10-18T17:28:24+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.shortform.com\/blog\/business-value-proposition\/\"},\"wordCount\":443,\"commentCount\":0,\"publisher\":{\"@id\":\"https:\/\/www.shortform.com\/blog\/#organization\"},\"image\":{\"@id\":\"https:\/\/www.shortform.com\/blog\/business-value-proposition\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.shortform.com\/blog\/wp-content\/uploads\/2020\/06\/the-art-of-stress-free-productivity-getting-things-done-scaled.jpg\",\"keywords\":[\"Business Model Generation\"],\"articleSection\":[\"Business\",\"Entrepreneurship\",\"Sales\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.shortform.com\/blog\/business-value-proposition\/#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.shortform.com\/blog\/business-value-proposition\/\",\"url\":\"https:\/\/www.shortform.com\/blog\/business-value-proposition\/\",\"name\":\"What Is a Value Proposition?\u2014Business Basics - Shortform Books\",\"isPartOf\":{\"@id\":\"https:\/\/www.shortform.com\/blog\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.shortform.com\/blog\/business-value-proposition\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.shortform.com\/blog\/business-value-proposition\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.shortform.com\/blog\/wp-content\/uploads\/2020\/06\/the-art-of-stress-free-productivity-getting-things-done-scaled.jpg\",\"datePublished\":\"2021-10-06T11:59:00+00:00\",\"dateModified\":\"2021-10-18T17:28:24+00:00\",\"description\":\"Value proposition is the value your business offers in the form of products\/services. 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