In a previous video we went through a value proposition
outlined today
we'll walk through an actual value proposition template a fill in the blank template to help you fill out your
Unique value proposition and we'll provide a link to a Microsoft Word document
With the template in it, so you will be ready to go. Hi
I'm Steve Morris and I use this startup SOS channel to provide practical how-to advice for first-time entrepreneurs. Today's topic a
fill-in-the-blank
value proposition template in that previous video
We went through a basic outline of a value proposition and real quickly. It starts with who is the customer
What's the job to be done the pain they're trying to avoid and the gain they're trying to reach in getting the job done
What are the features that you believe map on to getting the job done?
Relieving the pain and delivering on the gain
Why do you believe customers are dissatisfied today with existing solutions?
And why do you believe they will prefer your solution and finally?
What's the value the customer will associate with your solution? What do you believe they will actually be willing to pay
So those are the basic
Hypotheses that you need to test in your value proposition now
Let's walk through a fill in the blank template to complete your value proposition
It starts with the customers
Our customers are and fill in the blank describe the customer segments of all the possible customer segments
you could address what segments will you address first and then continue with the sentence our
customers who need to now describe the job that they have to get done and then describe the
potential gain, they seek that makes this important to them is
Fill in the blank describe that gain the pain relief that makes this important is fill in the blank
What is the pain that customers want to avoid in getting the job done?
well
and then our target customers are dissatisfied with existing solutions because and
State exactly why you believe they're not
Happy they're not satisfied with solutions that are out there today
Now that's a great start on the hypotheses that you're going to test but there are of course a few more
You need to then describe your solution. So our solution is fill in blank
It delivers on the job to be done
Which was just described above and then fill in the features fill in the blank with the features that you believe
Deliver on the job to be done, but it also delivers the desired gain
Which was again just described above then fill in the features
how did the features of your product deliver on the gain the customer wants to attain and
It delivers the desired pain relief by again describe the features that specifically deliver on
The pain relief customers are looking for
Then state that customers prefer our solution because and fill in the blank what really is that the driving?
reason the customers you believe will prefer your solution and
Then we make money by then describe essentially your revenue model. How do you make money?
Are you charging for your product? Are you judging a subscription fee? Are you taxing a transaction?
How are you charging the customer and then fill in the information on what they're willing to pay customers are willing to pay
What?
for our solution
That's of course is the final key hypothesis that you need to go out and test and with that you have captured
your entire value proposition and you are ready now to go out and talk to customers to
Test your unique value proposition
I hope that fill in the blank template makes it just a little bit easier to get over the hump and get your value proposition
Captured and that's a wrap for this video describing the value
Proposition template if you haven't yet, please click the subscribe button to subscribe to the channel
It's just right down in the corner. And if this was helpful, please click the like button and share it and leave a comment
We'd love to see your feedback and your questions and keep in mind, of course
there's a series of videos we've done on value proposition that you might want to check out and then
Upcoming series on the broader topic of your business model and capturing the entire business model to test that
Links to some of those videos will appear right here and we hope you check those out
That's it. Thank you very much for watching