Professional Documents
Culture Documents
Workbook 1:
Crafting Your Value Proposition
Workbook Template
• Who is your target customer? What kind of problem do you solve for them?
• How do you plan to solve this problem for the customer? Describe how your solution will work
in the customer’s hands and the benefits that it will generate.
• Who is your competition? How do they solve this problem for their customers today?
• What is unique about your way of solving the problem? Why are you better than anyone else in
solving this problem?
Activity 2: The meaning of value
List 15 to 20 values you derive from buying or doing things. Then create a short list that most
accurately describes the value your product offers your customers.
Activity 3: Crystallize your value proposition assumptions
Review your answers to the following questions. Label each answer as Fact (and list the
accompanying evidence) or Assumption (if you don’t have any evidence at this stage).
Activity 4: Test your target customer assumptions
List the assumptions you made in Activity 3, and then answer the following questions.
• What key piece of information would validate or invalidate the assumption? (Information)
• Where does that information reside? Who has that information? (Where/Who)
• What is the best way to gather that information? (Method)
Activity 5: Prepare to talk to customers
What are the key political, regulatory, economic, environmental, social, cultural and technological trends
that affect the space you are in?
Who are the analyst firms, analysts, journalists, bloggers and conference presenters that talk about
relevant issues and technology?
What are the main media outlets that keep people informed about the industry and its technology?
Interview guide
On the basis of the information in the previous checklist and the assumptions
described in slide #5, prepare the questions and issues to address in your
interview guide:
After testing your assumptions
• On the basis of the answers to the above questions, which direction should
you take?
Activity 7: Update your problem statement
Write a brief description of the specific problem your target customers face, as well as
the impact of the problem and its pervasiveness. Include the following
information:
Write a statement that describes your product vision, which identifies one or more of
the following:
Describe the key aspects of your MVP for which you are currently seeking market
feedback.
Activity 12: Test the MVP
• Does the product solve the problem better than a viable alternative currently on the
market?
• Would they use the product? Can they imagine the product as part of their everyday
life?
• What is their primary concern about buying and implementing the product?
Activity 12: Test the MVP (cont’d)
• What process would the customer employ when deciding to buy such a product?
We have developed (type of solution, maybe a word or two about how it works [e.g., fast-
working, easy-to-use, cost-effective])