Hello, dear students. Today I want to talk to you about one of the most important things you must learn as an innovator, problem solver, or entrepreneur, how to create a strong value proposition so that you can create a product people will actually buy. Now, what do I mean by that? A value proposition is a simple sentence that explains who your product is for, what problem it solves and why it’s worth paying attention to. In other words, it tells people why they should care about what you’re offering. Let me begin with this. Ideas are not enough. Many people come to me saying, I have a great idea, but unless that idea solves a real problem for someone, it doesn’t have value. That’s why we start by defining the problem clearly. Here’s the step-by-step framework we use.
Step one, define the for who. You must be clear about who your solution is for not everyone that’s too big. Maybe it’s children in rural Kenya without access to the internet or young mothers needing clean water, be specific. Ask, who is struggling with this problem? What makes their situation difficult? Step two, understand the problem. We use a simple method called the work for use to help you understand if a problem is worth solving, unworkable something is broken or failing. Example, no access to digital tools makes it hard for rural students to learn. Unavoidable a problem. You can’t escape like getting older, paying taxes, or needing medical care. Urgent, a problem that needs a solution. Now, like a school with no clean water, underserved, when people don’t have many good options like Kenyan coffee drinkers who can’t afford local coffee. If your product or service helps with at least one of these, you’re solving something important.
Step three, talk to real people. Before you build anything, go talk to the people who will use your product. Ask them, what’s your biggest challenge today? Why is this hard for you? What have you tried already? Let them describe the problem in their own words. If they say, that’s not my problem, then you’re talking to the wrong person, or you don’t understand the real issue yet. Keep asking. Step four, choose a focus group at Segment. Don’t try to help everyone at once. Focus on one small group who all share the same problem. We call this a minimum viable segment. This helps you build something simple and effective, A minimum viable product or MVP that solves one clear need.
Step five, make it strong and unique. The three DS, if others are solving the same problem, why should people choose your solution? Your value proposition becomes powerful. When it’s disruptive, it changes the way something is usually done. Like Uber replacing taxis, discontinuous, it allows something totally new that wasn’t possible before, like cloud computing or mobile banking defensible, it’s hard to copy. Maybe you have a secret recipe, a patent or deep user data that others don’t. So students, before you jump into building your invention or service, remember heavy check mark. Be clear who it’s for. Heavy check mark. Be clear what painful problem it solves. Heavy check mark. Make sure it’s important, urgent or underserved, heavy. Check mark. Talk to people. Ask questions. Listen, heavy. Check mark. Focus on a specific group, not the whole world heavy check mark, and finally, make it so good that others can’t easily copy it.
Your value proposition is the foundation of your success. If you get it right, everything else becomes easier. From marketing, to fundraising, to building something people will love. Now take out your notebooks or devices and start writing your own version. Use this structure for specific group who are struggling with problem. We offer solution which delivers benefit. When you get that sentence clear and strong, you are already on your way.