A common complaint an entrepreneur voices when they first try to explain why a prospect should pay for their product:
“It’s difficult expressing the value proposition in just a few words because there are so many different ways to use it.”
Many an entrepreneur with a new product
Here are some things to try to help focus on an initial value proposition:
- Offer a few examples that are extremely specific.
- Identify the most compelling value propositions. Even if they only appeal to a very narrow population, the more important thing is that they bring a lot of improvement to their current situation.
- Be careful when you can envision many many possibilities as most may come with “some assembly required.”
- Think about offering a new Perl compiler and saying “you can do anything you want with it.” Apple may have suggested that they were offering “a bicycle for the mind” but it was the specific promise of desktop publishing that triggered their compelling value proposition.
- If you have paying customers look at what they have done with it. Specifically. What benefits have they gained?