Defining Business Value: How to Identify and Measure Your Value Proposition

Learn about the concept of value, and knowing how to apply that knowledge in the real world is an essential element for business success.

Defining Business Value: How to Identify and Measure Your Value Proposition

Learn about the concept of value, and knowing how to apply that knowledge in the real world is an essential element for business success.
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About the Class

This class will enable you to answer the questions, “what value does my business provide?” and “how can I define my business value in a quantifiable way?”. We will begin with a discussion of the meaning of "value" in a business context, and then talk about how this concept can be applied. Too often, we as business owners believe that “if I build it, they will come,” but that’s only one piece of the puzzle -- you need to make sure that you’re building something that people want to buy!

What will you learn in this course?

  • What people mean by “value” in a business context
  • New ways of thinking about and visualizing value creation in a business
  • How to use data to understand and measure the value your business is creating and increase it.
  • How to make sure that you are creating value for your customer rather than using guesswork to determine your growth strategy
  • How to identify your business’s “core value proposition” and why that matters

No prior knowledge or experience is required for this class, and we will cover the topic of how to identify your business’s value if you’re starting out.

Who should take this course?

This class will be particularly useful for those who have already started a business and yet are struggling to figure out where to go from here in terms of growth, marketing, sales, etc.

Class Project

Use the attached worksheet to note your responses to the class exercises, and then apply what you've learned to craft a unique value proposition statement for your business.

This worksheet enables you to keep track of your progress and notes through each stage of the value proposition creation process, including:

how you would apply the value equation to your own business
documenting the results of your research, analysis and validation exercises
using the value statement formula to develop your very own business value statement
Then, be sure and share what you've created with your fellow students for feedback and celebration.

Once you have a value statement, you can use this in all sorts of ways, including:

Clearly and concisely explaining what your business does and why it matters with your employees and customers.
Developing your elevator pitch for potential investors and/or business partners.
Creating clear messaging and copy for your website and other marketing channels.
Developing additional product offerings or iterating your existing offerings to serve your customers better.

Author

Sam Chin

Process Scientist
Sam is a process scientist, published author and recognized expert in the process improvement space. Sam co-founded Cavi Consulting, a process science consultancy that specializes in helping businesses automate, scale and grow sustainably. Sam is certified in Lean, Six Sigma, Change Management and Project Management, and holds an MBA from the...

School

Sam Chin's School

Requirements

There are no additional requirements.
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What's Included

Language: English
Level: All levels
Skills: Small Business, Marketing, Process Analysis, Business Development, Entrepreneurship
Age groups: 18-65 years
Duration: 45 minutes
10 Videos
1 Document
0
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