005: Creating Value Propositions

How do I create a value proposition for a cutting edge, new product I have no major competitors for?

 
 

Purpose

To practice sketchnoting, and help a startup founder either envision, problem solve or explain a part of their startup.


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This week’s startup

We’ll help Tat Banerjee of QBLM create a value proposition for his AI software that translates videos into videos with subtitles of all languages.

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Learning goals this week

How to create a value proposition that is geared to work for a startup that has an innovation using a Value Proposition canvas. (Adapted from Ben Crothers’ Value proposition canvas in his book Presto Sketching).

  1. Work out the needs and pains of the early adopter (just like using an empathy map)

  2. List the benefits of using Tat’s product.

  3. Then check to see how well aligned the benefits are in solving the pains and needs.

  4. Why Tat’s idea is a must have, and if not what features are missing to make the ultimate sales pitch? Based on an article on how to identify if you have “a must have” product.



Rules

Always sketch with a real user and their real problem in mind.



Who is Tat’s Early Adopter?

And what’s their problem?


 
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Conclusion

  • Value propositions

    • Based on what makes the innovation a must have

    • Using the Value Proposition Canvas for innovation-startups