5 ways to develop a strong value proposition in your business plan

Having a fully developed business plan is crucial for the success of any business. A strong value proposition is a critical component of any successful business plan. It is a clear statement that communicates the unique benefits and value that your products or services provide to your target market.

• Focus on the Benefits, Not the Features
  The first tip is to focus on the benefits, not the features. While features are important, it is the benefits that customers are ultimately interested in. Benefits are the specific outcomes that customers will experience from using your products or services. This means identifying the specific problems that your target market is facing and explaining how your product or service solves those problems.

• Identify Your Unique Selling Proposition
  The second tip is to identify your unique selling proposition (USP). Your USP is what sets your products or services apart from your competitors. It is the specific aspect of your business that makes it unique and desirable to your target market. Brad emphasises the importance of identifying your USP. By identifying what sets you apart from your competitors, you can develop a value proposition that communicates your unique value to your target market.
• Use Clear and Concise Language
  The third tip is to use clear and concise language. Your value proposition should be easy to understand and communicate the specific benefits of your products or services in a clear and concise manner. Avoid using jargon or technical language. This can make it difficult for customers to understand the specific benefits of your products or services. Instead, businesses should use simple and straightforward language that is easy for customers to understand.

• Make It Customer-Focused
  The fourth tip is to make it customer-focused. It should be designed to appeal to your target market and communicate the specific benefits that they will experience from using your products or services. Brad Sugars, CEO and founder of ActionCOACH, recommends focusing on the customer’s needs and desires. By doing so, you can communicate the specific benefits that your products or services provide in a way that resonates with your target market.
• Test and Refine Your Value Proposition
  The fifth and final tip is to test and refine it over time. Your value proposition should be a living document that is continually evaluated and refined based on customer feedback and market changes. You should test your value proposition by gathering feedback from customers and make adjustments as necessary. This can help to ensure that your value proposition is effective and resonates with the target market.

Who is ActionCOACH’s Business Coach Mark Dilks?

Mark Dilks is an accomplished business leader, experienced coach, mentor and business builder. He supports business owners, executives and teams across Milton Keynes, Bedford, Northampton, Luton & Dunstable in all aspects of building profitable high growth businesses; from start-up phase all the way through to maturity and divestment. No matter what challenges you are facing, Mark will invariably have encountered a similar situation previously and will be able to support you to quickly and efficiently overcome your business hurdles by sharing examples of how other business have solved similar problems that you are experiencing. He is motivated, driven, tenacious and is able to get the very best out of all the resources available to his clients and to ensure that the maximum results possible are achieved.