Many ideas for Value Propositions?
Many startups, especially those commercialising new technology, have a range of potential value propositions they could exploit. Using the Business Model Canvas and Value Proposition Canvas
is great for expressing what a Value Proposition is and how it will be exploited, but doesn't make it easy to compare the pros and cons of different potential value propositions, especially with respect
to the competitive landscape.
A Simple Comparison Tool
Over a number of years working to commercialise new technology, I have developed a standard format for comparing value propositions - the Value Proposition Analysis Canvas and Template. The Canvas, as the name suggests,
is used exactly like the Business Model or Value Proposition Canvas to work collaboratively with post-it notes. The template is a document format that allows work on the canvas to be captured and used in a selection process.
Get your Free Canvas and Template:
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How do you use it?
The template encourages you to think about the following aspects of your potential Value Propositions
- Pain, Solution
- Customers, Customer Validation
- Competition
- Variations / Extensions
- Strengths, Weaknesses, Opportunities and Threats
Both the template and canvas include more detailed prompts, and the template includes an example for reference.
About the Author - Ian Stevenson
Ian has more than 15 years of experience in commercial and technology roles. He specialises in helping young companies to take new ideas or technology to market, finding initial customers, and raising the investment necessary to support growth.
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