Definitions of value proposition are generally vague, confusing, and different depending on the source.
The usual definitions miss aspects of value proposition that could make the concept much more useful. A value proposition is much more than just an “internal tool” that has no practical application beyond helping you understand your business.
And when even marketing experts fail to see that it could be an almost unfair competitive advantage, it’s no wonder so many businesses don’t have strong value propositions.
I have my own definition, which makes it much more than just an internal tool.
In this article, you’ll learn the two necessary elements of a value proposition and what a strong, refined value proposition will give you.
But before we get to any of that, you should know that value proposition is arguably the most complex concept in business that you’ll ever come across.
And the way I define it doesn’t cut corners to make it simple. Instead, the purpose is to make it your unfair competitive advantage. Simplified concepts can’t really do that.
But it’s well worth the time it takes to get it just right because it forms the basis for your success.
And if it’s weak, your business is almost guaranteed to fail.