Optimise your Value Proposition with Business Model Design

#2 - Optimise Your Value Proposition

If you want to suceed in winning the £100,000 or £1,000,000 Startup Race, you need to Optimise Your Value Proposition with the Business Model Design level of our Preparation Programme.

Continue your journey to winning a Startup Race and raising investment by optimising your Value Proposition by upgrading to Business Model Design, the second level of our Preparation Programme for only £100.

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What is a Value Proposition and why is it important?

In startup terminology, a Value Proposition is a clear statement that explains the unique benefits a product or service offers to your target customers.

If you are not able to convince a customer why they should choose your product or service over a competitor, you will not be able to make any money and your startup will fail.

How do I create a Value Proposition?

You need to be able to answer the following questions:

What does your startup do? (Describe the product or service in simple terms.)
Who is your target audience? (Who will benefit the most from it?)
What key problem does it solve? (What pain points does it address?)
What makes it unique? (How is it different from existing solutions?)

Here is a good example

🚀 "Slack makes work simpler, more pleasant, and more productive by bringing team communication into one place—helping businesses reduce email clutter and boost collaboration."

How does Business Model Design help my Value Proposition?

The Business Model Design level of the Startup Race Preparation Programme provides you with resources designed by Ash Maurya to help you to find answers to key questions that make up your Value Proposition. These resources are:

The world's best Lean Startup video training to help you answer the key questions.
A Lean Canvas to lay out all the elements of your Value Proposition on 1 page.
A unique tool that enables you to craft a compelling Value Proposition.

Use your Value Proposition to create a Minimum Revenue Product

CB-Insights analysed thousands of startup failures and found out that the main reason for failure is that startups "Ran out of cash or failed to raise new capital."

Establishing a clear and compelling Value Proposition enables you to create a Minimum Viable Product, or better still, a Minimum Revenue Product.

The ultimate validation for your startup is getting a customer to pay you money. It is far easier and quicker to get your customer paying you money if you create something small. The exciting news is you make 60% more profit by up-selling your customer to a higher priced product or service.

Implementing this strategy can make all the difference in winning a Startup Race.

Transform your Startup idea into a £10,000,000 Scaleup

One of the most powerful tools in Business Model Design is the ability to quickly and easily see just how much money your business model can generate.

Instead of wasting weeks of your life plugging numbers into a spreadsheet again and again, experiment by plugging a few key metrics into Ash Maurya's Customer Factory tool to create a Traction Roadmap to building a £10,000,000 business that will really impress investors.

Avoid drifting with Pirate Metrics

One of the main reasons startups fail, is because the founders drift in what they focus on or get infected with 'perfectionitis'.

What really sets successful Entrepreneurs apart from Wannabe's, is the ability to use their Traction Roadmap to see exactly how many people they should be Acquiring, Activating and converting them into paying customers each month.

Without this 'Line in the sand', you do not know whether you are meeting or beating an achieveable goal, of failing because your Value Proposition does not resonate with anyone.

Get a CoFounder to help you

Building a successful requires a lot of hard work and it's very easy to become a victim of your own 'reality distortion field' or 'magical thinking'.

By upgrading to the Business Model Design level of our Preparation Programme for only £100, you can invite a CoFounder to join your team on LeanStack.

They will help you remain objective in creating your Value Proposition, a Minimum Revenue Product, Traction Roadmap and help you track your Pirate Metrics so you can increase the value of your business and your chances of winning our £100,000 Startup Race.

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Getting a good CoFounder to join your team is very hard

It is also fraught with danger.

In the Full Membership level of our Preparation Programme, we have resources and guides developed in our acceleration programme, and tested on 76 startups to help you navigate this critical task.

These will cover issues such as: