Introduction to Value Proposition

NatWest Business Builder: Value Proposition

In this module we’re going to look at your value proposition which is central to developing a successful business model and understanding the benefits that you deliver to your customers.

In this module you’ll explore:

  • What problem or need are you addressing?
  • How big is the problem or need you are trying to solve?
  • What is value proposition?
  • What benefits do you deliver to your customers?

Start by downloading and saving the workbook and use it throughout the module to write notes, reflect on the key points and take time to answer the questions for your own business.

Falling in love with the problem?

Developing a successful business is no easy feat, but understanding the problem or need that you are solving will allow you to focus on the right things and the right customers. Watch the first video to understand more about why it’s important to ‘fall in love with the problem, not the solution’ and hear from some entrepreneurs about their experiences.

What is a value proposition?

In chapter two, we’re going explore more about what a value proposition actually is and get you to think about what pain relievers or gain creators you’re delivering to the customer through your product or service.

Why is understanding your value proposition important?

In the last chapter of this module, we’re going to look at why understanding your value proposition is so important and how it can help to inform many decisions within your business. It’s also an opportunity for you to reflect on what you’ve learned during this module, write a value proposition statement for your business, and think about any key actions that you will apply to your business.

Further Reading

The basics of cash-flow forecasting

The six characteristics of successful entrepreneurs

Management strategies: perfecting your 60-second pitch

Five ways to build customer loyalty

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