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Business, Entrepreneurship, MBA

What’s Your Value Proposition?

By Juan V López @JuanVLopez · On February 26, 2016

As a business & marketing coach, I come across businesses all over the spectrum – ‘barely starting,’ ‘fully developed,’ ‘just an idea,’ ‘stuck’…

And I come across all types of businesses – coaching services, marketing agencies, MLMs, fitness training, affiliate marketing, remote control device sales, housekeeping, gardening, web design, real estate, car dealership, anti-aging, daycare, insurance agencies, culinary…

And it’s awesome. I absolutely love helping people expand their business and really get down to the nitty gritty of what strategic steps they need to take to expand.

Now, in coaching hundreds of businesses, I’ve learned that no 2 are the same – some may be similar, but everyone has different needs.

However, something that applies to every single business that has existed and will exist is this: What is your value proposition?

A lot of times, a marketing problem or sales problem isn’t marketing or sales at all – it’s a problem with getting clarity on what your value proposition is.

In other words, what value are you going to deliver? Your value proposition is the primary reason a prospect should buy from you.

Now, you’d be surprised at how many business owners are still unclear on what this is.

It is vital to get extremely clear on what your value proposition is.

Especially if you’re a start-up – you need to be able to differentiate yourself from current competitors that currently offer services or products similar to yours.

I ask all of the people I coach to describe their value proposition and some respond with things like:

• We’re the low-price leader
• Our goal is to serve as many people as possible
• We want to become the XYZ leader in XYZ
• We’re the fastest delivery company around

These are great statements to have, but they’re not a value proposition. Statements like the ones above position your company, but they are not clear on the value your customer will receive by choosing you over someone who offers a similar service or product.

Now, I want to emphasize there there is no one clear way to go about developing a value proposition. However, I suggest you start with the following formula that I’ve seen work over & over:

  1. Headline. What is the end-benefit you’re offering, in 1 short sentence. Can mention the product and/or the customer. Attention grabber.
  2. Sub-headline or a 2-3 sentence paragraph. A specific explanation of what you do/offer, for whom and why is it useful.
  3. Bullet points. List the key benefits or features.
  4. Visual. Images communicate much faster than words.

Here are some examples of companies that use this formula well:

wordpress

What are they selling? A website.

What is the benefit of using it? It’s totally free.

Who is their target customer? People who want a personal blog or a business site.

apptimize

What are they selling? Mobile optimization.

What is the benefit of using it? It’s really fast.

Who is their target customer? People who need mobile optimization for their site or app.

stripe

What are they selling? Web & mobile payment processor.

What is the benefit of using it? Ease of use.

Who is their target customer? Programmers & developers who want to enable online payments.

soundcloud

What are they selling? A platform to find music & artists.

What is the benefit of using it? It’s easy.

Who is their target customer? Music lovers.

Simple, right?

Now, for your business as you go and develop your value proposition, consider these questions:

  • Who is my target audience?
  • What is my competition – and how are they positioned?
  • What’s the biggest problem I solve for my customers?
  • How does my target audience communicate – what type of language do they use?
  • What are the benefits of my product or service?
  • What makes my product or service desirable?
  • What credible & tangible numbers can I share to beef up my proposition?
  • What proven industry example can you play off of?
  • What unmet needs will your venture serve?
  • How will your product or service be priced?
  • How can you bridge the gap between the customers’ motivation to buy and the cost of your product or service?

Consider these questions and develop your value proposition – then test it.

Slap it on a clean landing page, gauge your conversions and optimize it.

Once your clear on what your value proposition is, you will be amazed at how much easier your sales and marketing will become. Everything else will branch from your value proposition. Get clarity on it, review it and continually improve it.

Need help clarifying your value proposition? Let’s chat.

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Juan V López

Juan is a digital marketing & motivational specialist – with a unique perspective in both of these areas. As an avid marketer who's worked with some of the top wealth builders in the world and driven empowerment speaker who thrives on changing lives, Juan's sole purpose in life is to help others identify theirs.

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My wife & I acquired this donut shop in January 2019 and moved to Denver.

Man - these past 1.5 years have been a RIDE.

I didn’t know if we’d survive a few weeks in ... sales were dismal, cash on hand was low, bills were due and wages were coming soon for my 12 employees.

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Things turned ALL THE WAY around. Won’t He?! 🙏🏽

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Our vision when we moved to Denver was to learn the lay of the land, get accustomed to the people, analyze the market ... 

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Next Monday July 27 we will officially open @wakeandbakedenver ‼️ (y’all go like the page if you’ve read this far ❤️)

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Don’t get it twisted. Yeah, I work around the clock tryna set up my family for a better future, but my wife is right beside me. BESIDE ME.

Kiki is a fucking G. She left her family, friends & everything she knew in Reno to build this dream in Denver & grow this business with me. When there’s an emergency at the shop or with our families, her first response is “what can I do?” When I’m stressed, her answer is always “how can I help you?” She takes out trash, too. She scrubs, too. She leads our team, too. She runs up the money, too. She loses sleep, too. She does whatever it takes for us to succeed and grow in our professional lives & in our love.

I’m so grateful for this girl. A lot of couples go into business together and end up splitting up because the more time they spend with each other, the more they fight. They call it quits.

My lady & I argue too. We fight too. We’re going through the FIRE. But man, I can’t wait to see her every day after we get home from our store. It’s crazy - even though we’re in close proximity most of the time, I just miss being with her. She’s my favorite person in the world. Our love is growing stronger.

My girl is a fucking rider. Shit ain’t always rainbows. But we got each other’s backs.

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It’s fucking hard. It ain’t pretty.

It ain’t pretty when you have payroll-induced anxiety. It ain’t pretty when you have broken sleep because you can’t stop thinking about your business. It ain’t pretty when you’re arguing with your wife about business decisions. It ain’t pretty when every day seems to roll into the other & there’s never a break. It ain’t pretty when employees are asking you for raises, but you have equipment that needs repairs, and you’re still trying to renovate your business, but you still gotta pay rent ... tough decisions every day.

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@kiki_chhay and I set 3 main goals in 2018: Flip our home, get married & get our own donut shop. Glory to God, we hit all 3.

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Locked in heading into #2019 🔒🔒 -
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Who Is Juan?

Juan envisions a world where people are moved by their purpose to commit great acts daily, while maximizing their potential and developing their character.

He is an digital marketer, empowerment speaker and MBA. He is a son of 2 Mexican immigrants and a first-generation college student.

Juan spoke at TEDx University of Nevada in January 2015 and has spoken at more than 50 schools, events and organizations since then, ranging from elementary classrooms to business owners.

He is driven to change lives through perspective, power and perseverance.

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