photo credit : blog.kaseya.com

When developing a business model, after creating customer segments within your business ; the next step is to identify what your customers perceive as value ( Value proposition).

List the needs/problems you have identified and are fulfilling in the personas created in your customer segments
(refer to http://biznessvirgins.blogspot.com.ng/2016/05/business-workshop-define-your-business.html )

What is unique about what you are offering (value proposition) your customers?

Why do your customers prefer your goods/services to their current alternatives?
(Jot these on a board or paper ; you might want to arrange this in order of importance and probably discard the not so important)

What things do you do that actually cause a customer to pick you over a competitor or alternative, understanding this dynamic will determine how you to sell the product and design it to suit your customers.

Merge the list of value proposition you have created to the relevant customer segment.

At the end of this exercise ,you should have a prioritized lists of value propositions paired to the customer segments with relation to the personas created. After working on each section of the business model be sure to fill in the results on the business model template and pair accordingly.

Make sure assumptions made during this exercise are reviewed appropriately and proven or disapproved.

For reference to previous “Define your business” posts –

Introduction : http://biznessvirgins.blogspot.com.ng/2016/04/business-workshop-mondaysfridays.html

Customer Segments :http://biznessvirgins.blogspot.com.ng/2016/05/business-workshop-define-your-business.html

The next post on writing your business model- DEFINE YOUR BUSINESS (3) will discuss Channels.

I hope your business models are gradually coming together. if you are having difficulties,send in questions to biznessvirgins@gmail.com.

Do drop a comment, we will like to hear from you and remember ,THE NEXT ENTREPRENEUR NEEDS TO HEAR FROM YOU!