The One Hour Business Plan: Building the Value Proposition Statement continued…

Module 1: What does your organization do?

Defining what your company does and justifying its purpose for existing is not an easy task for most of us. Author of the book “The One-Hour Business Plan” points out the value proposition of the business model is the starting point for the business plan. And that it provides the basic framework to clarify the answer to the question, “What do you do?”

Defining the customers Need.
To help answer the what do you do question, we have to put ourselves in the shoes of the customer who is keenly aware of what they need to make the buying decision. Answering the following questions will help.

What need is the customer looking to be filled?
What void can your product or service fill that is not currently satisfied adequately for customers?

Try to avoid a perceived need the customer does not value or need.

Mental Exercise: The Need
How do customers interact in your targeted market?
What events or conditions have to occur to create a customer need and does your product or service fulfill that need?

Say out loud the need your product or service satisfies? Ask yourself if that sounds meaningful to a potential customer? Next, repeat it multiple times making it more clear and precise until you think you have properly defined what your company does and the services you provide.

Next step, “The Solution”.
Being the solution and not the problem.

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