{"id":2318,"date":"2024-02-26T11:37:31","date_gmt":"2024-02-26T11:37:31","guid":{"rendered":"https:\/\/mobilizingphd.com\/?p=2318"},"modified":"2024-06-02T09:51:24","modified_gmt":"2024-06-02T09:51:24","slug":"lesson-5-designing-your-value-proposition","status":"publish","type":"post","link":"https:\/\/mobilizingphd.com\/index.php\/2024\/02\/26\/lesson-5-designing-your-value-proposition\/","title":{"rendered":"Lesson 5 &#8211; Designing Your Value Proposition"},"content":{"rendered":"\n<h3 class=\"wp-block-heading\">Watch this interview<\/h3>\n\n\n\n<p><strong>George and Jeroen discuss why it\u2019George and Jeroen discuss why it\u2019s important to create a compelling value proposition to your customers.s important to narrow your focus to a specific customer segment<\/strong>.<\/p>\n\n\n\n<figure class=\"wp-block-embed is-type-video is-provider-youtube wp-block-embed-youtube wp-embed-aspect-16-9 wp-has-aspect-ratio\"><div class=\"wp-block-embed__wrapper\">\n<iframe title=\"Lesson 5 - Designing your Value Proposition [Mobilizing PhD]\" width=\"500\" height=\"281\" src=\"https:\/\/www.youtube.com\/embed\/C1Y78SyM-EE?feature=oembed\" frameborder=\"0\" allow=\"accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share\" referrerpolicy=\"strict-origin-when-cross-origin\" allowfullscreen><\/iframe>\n<\/div><figcaption class=\"wp-element-caption\"><em>\u00a0<\/em>Time required: 18 minutes<br><em>PRO TIP: click below to download an AUDIO ONLY version so that you can listen on the go!<\/em><\/figcaption><\/figure>\n\n\n\n<div class=\"wp-block-buttons is-content-justification-center is-layout-flex wp-container-core-buttons-is-layout-a89b3969 wp-block-buttons-is-layout-flex\">\n<div class=\"wp-block-button\"><a class=\"wp-block-button__link has-text-align-center wp-element-button\" href=\"https:\/\/drive.google.com\/file\/d\/1q346um4NrTvpU-Zdvxjg5s8Y7mDT4otH\/view?usp=sharing\">\ud83d\udd0a Audio Only<\/a><\/div>\n<\/div>\n\n\n\n<h3 class=\"wp-block-heading\">2) Review background for this lesson\u2019s exercise<\/h3>\n\n\n\n<p>This lesson, you will be designing a value proposition. Before we start, we need these ingredients that you\u2019ve been working on:<\/p>\n\n\n\n<p>Simply put, who will be your first 10 to 50 customers?<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>You know your initial solution (although it\u2019s not built yet)<\/li>\n\n\n\n<li>Your beachhead market for this initial solution is clear (Lesson 4)<\/li>\n\n\n\n<li>You have talked to a few potential customers about the need or problem your solution is aimed for<\/li>\n\n\n\n<li>You\u2019ve watched this video on&nbsp;<a href=\"https:\/\/mobilizingphd.us17.list-manage.com\/track\/click?u=d44e08f974365aa4796b3c524&amp;id=55c75f2de8&amp;e=367b38039a\" target=\"_blank\" rel=\"noreferrer noopener\">What is Value in a Value Proposition?<\/a><\/li>\n<\/ul>\n\n\n\n<p><em>Time required: \u00a010 minutes, depending on your reading speed<\/em><\/p>\n\n\n\n<p><\/p>\n\n\n\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<h3 class=\"wp-block-heading\">&#8220;<em>A value proposition is a concise statement of the benefits that a company is delivering to customers who buy its products or services.<\/em>&#8220;<br><br><\/h3>\n<\/blockquote>\n\n\n\n<h3 class=\"wp-block-heading\">3) <strong>Do these exercises<\/strong><\/h3>\n\n\n\n<p><em>First, add <\/em><a href=\"https:\/\/docs.google.com\/presentation\/d\/1OB17f2o6TjPt5PumV7L8g1V9vOpEHv4YiVmL8CfHRw0\/edit#slide=id.g28c61f15ef0_0_32\" target=\"_blank\" rel=\"noreferrer noopener\"><em>Lesson 5 slides<\/em><\/a><em> to your Journey Scrapbook<\/em><\/p>\n\n\n\n<p><em>Good luck!<\/em><\/p>\n\n\n\n<p><strong>What are value propositions?<\/strong><\/p>\n\n\n\n<p>A value proposition is a concise statement of the benefits that a company is delivering to customers who buy its products or services. Value propositions are all about communication. They are basically the way to explain to your potential customer what you can do for them.<\/p>\n\n\n\n<p><strong>Why is it hard?<\/strong><\/p>\n\n\n\n<p>Writing good value propositions is basically a language game. You need to understand your customer\u2019s language. Your doctor explains what\u2019s wrong with you in a different way than talking to a fellow doctor. Startup founders don\u2019t usually initially know the right words. This is trial and error process.<\/p>\n\n\n\n<p><strong>Key question: What\u2019s in it for them?<\/strong><\/p>\n\n\n\n<p>Engineers have the tendency to be overly focused on the technical aspects of their product. Visionary founders talk about the change they want to be in the world.<\/p>\n\n\n\n<p>Your customers likely don\u2019t care about the change in the world. They want to be helped with their needs and problems. So, what is in it for them?<\/p>\n\n\n\n<p><strong>Exercise 01: Keep it simple, customer focused<\/strong><\/p>\n\n\n\n<p>First, start out with making a 10 second pitch about your startup.<\/p>\n\n\n\n<p><a href=\"https:\/\/mobilizingphd.us17.list-manage.com\/track\/click?u=d44e08f974365aa4796b3c524&amp;id=01fbc1941e&amp;e=367b38039a\" target=\"_blank\" rel=\"noreferrer noopener\">This guide shows you how to get there<\/a><a href=\"https:\/\/mobilizingphd.us17.list-manage.com\/track\/click?u=d44e08f974365aa4796b3c524&amp;id=0cf8ab6c2d&amp;e=367b38039a\" target=\"_blank\" rel=\"noreferrer noopener\">.<\/a>&nbsp;This guide focuses on the outcome and the problem of the customers.<\/p>\n\n\n\n<p>Write down, what is your ~10 second pitch?<\/p>\n\n\n\n<p><\/p>\n\n\n\n<p><strong>Exercise 02: Expand it into a brochure<\/strong><\/p>\n\n\n\n<p><a href=\"https:\/\/mobilizingphd.us17.list-manage.com\/track\/click?u=d44e08f974365aa4796b3c524&amp;id=3b6c3a1eeb&amp;e=367b38039a\" target=\"_blank\" rel=\"noreferrer noopener\">This guide shows you how to build your value proposition<\/a><\/p>\n\n\n\n<p>Making a brochure where you focus on the features, benefits and catchy oneliners is the best way to experiment with ways of proposing value.<\/p>\n\n\n\n<p>Make three flyers using the above guide (template included)<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Watch this interview George and Jeroen discuss why it\u2019George and Jeroen discuss why it\u2019s important to create a compelling value proposition to your customers.s important to narrow your focus to a specific customer segment. 2) Review background for this lesson\u2019s exercise This lesson, you will be designing a value proposition. Before we start, we need [&hellip;]<\/p>\n","protected":false},"author":6,"featured_media":2372,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_eb_attr":"","site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"default","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"disabled","footer-sml-layout":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"set","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"var(--ast-global-color-4)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"footnotes":""},"categories":[6],"tags":[],"class_list":["post-2318","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-lessons"],"_links":{"self":[{"href":"https:\/\/mobilizingphd.com\/index.php\/wp-json\/wp\/v2\/posts\/2318","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/mobilizingphd.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mobilizingphd.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/mobilizingphd.com\/index.php\/wp-json\/wp\/v2\/users\/6"}],"replies":[{"embeddable":true,"href":"https:\/\/mobilizingphd.com\/index.php\/wp-json\/wp\/v2\/comments?post=2318"}],"version-history":[{"count":1,"href":"https:\/\/mobilizingphd.com\/index.php\/wp-json\/wp\/v2\/posts\/2318\/revisions"}],"predecessor-version":[{"id":2320,"href":"https:\/\/mobilizingphd.com\/index.php\/wp-json\/wp\/v2\/posts\/2318\/revisions\/2320"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mobilizingphd.com\/index.php\/wp-json\/wp\/v2\/media\/2372"}],"wp:attachment":[{"href":"https:\/\/mobilizingphd.com\/index.php\/wp-json\/wp\/v2\/media?parent=2318"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mobilizingphd.com\/index.php\/wp-json\/wp\/v2\/categories?post=2318"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mobilizingphd.com\/index.php\/wp-json\/wp\/v2\/tags?post=2318"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}