What do you do better than anyone does? What does your company offer that competitors can’t match? Why would customers buy one company’s product or service as opposed to another’s? What is your competitive differentiation? These are all definitions of a critical business concept called “value proposition.”
What’s the litmus test for a valid value proposition?
- If you can say it in front of a mirror and keep a straight face, that’s a start.
- If you say it to your sales force and they keep a straight face, that’s better.
- If you say it to your customers and they wholeheartedly agree, you’re in business.
Sounds simple, right? Well, it’s not. But it’s such an effective acid test for determining if your company is on the right track, such a great tool for testing and iterating business strategy, that it’s worth the effort.
Please read the rest of this insightful article on BNet here
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