How To Guide - 3 questions to help you really understand your Value Proposition better.

Please don't feel an necessity to know this or have worked it out yet, but last week I talked about tweaking your business model to give your business a bit more love.

Check it out if you'd like to understand all the key jigsaw pieces to your business model and how you can wriggle those pieces about a little to make your business work a little better.

Today, though, I'd like to focus on one of the key pieces of the business model jigsaw that is at the very heart of all business, all innovation, all success and all great experiences - the vale proposition.

What is value proposition and do you know yours?

Essentially your value proposition is the way in which you deliver your business that makes it special. It is not a USP (unique selling point) because a USP is one aspect of what you sell that is particular to your business.

The value proposition is the the very reason why someone would buy from you and not from a business down the road that sells the same product or service.

But how to do we define it? How to do we understand what makes us magic but more particularly, what makes us magic to our ideal audiences? We want to understand how your proposition is relevant, valuable and distinctive.

Here are 3 questions that will help you to really get to grips with your value proposition so that you know it by heart, make great decisions based on it and share that special value to all those who will love it.

1. What part of your value proposition can't be replicated by anyone else? Let's imagine you're a photographer. We can assume you're good at it and offer your services at a good price. But what is it that you do, say or deliver that no other photographer can? Think about some of the following to help you get your answer:

   1. Your personal manner

   2. Your niche

   3. The style of your delivery

   4. Your location

   5. The team you have built

   6. Any extra touches

   7. The way you tell stories

   8. Your experiences or perspective

   9. The mix of your skills

   10. The way your source materials

   11. Your dedication to sustainability/your location/a charity etc

   12. Your purpose or 'why'

   13. The relationships you build

2. What do your customers say about you? When was the last time you really got to know what your customers think and say about you? Do you notice patterns or common themes that may surprise you? Is there something they keep mentioning that made them buy or elevated their experience? Understanding this at a deep level will really unlock the 'magic' that others see in your business that you may overlook or undervalue. Check your reviews, ask people one to one or try a quick survey to find out more.

3. How do you meet the needs and wants of your ideal customer? This is a biggie. It's ok to understand why you're special or what your customers say, but how are you actually meeting the needs of your customers so that they actually choose your product or service over someone else's? Why would they actually part with their money? What makes your offer truly valuable? Think about some of these possibilities to get your started.

   1. The price is right

   2. You solve a problem

   3. You create additional value

   4. You help a customer find a solution

   5. They benefit in a unique way

   6. You're the fastest

   7. You are the most sustainable

   8. You have accreditations or qualifications

   9. Your supply chain is transparent

   10. Your efficiency

   11. You create quick trust

Don't forget to head over to the forum to talk value propositions or any oher topic that helps you build a life you love with your micro business.