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Michael Skok

04/01/23

@ Harvard Innovation Labs

A compelling value proposition must address a critical problem that users face, ensuring that the gain from your product outweighs the pain of adopting it.

Video

Value Props: Create a Product People Will Actually Buy

@ Harvard Innovation Labs

Value Props: Create a Product People Will Actually Buy

04/01/23

Related Takeaways

Michael Skok

04/01/23

@ Harvard Innovation Labs

The gain-pain ratio is essential; ensure that the benefits of your product significantly outweigh the challenges users face in adopting it.

Michael Skok

04/01/23

@ Harvard Innovation Labs

When defining your value proposition, consider problems that are unworkable, unavoidable, urgent, and underserved to ensure you're addressing real needs.

Michael Skok

04/01/23

@ Harvard Innovation Labs

To validate your product's value proposition, ask users how critical your solution is to their needs and what alternatives they would consider.

Michael Skok

04/01/23

@ Harvard Innovation Labs

To effectively communicate your value proposition, define the before and after scenarios for your users, emphasizing the critical improvements your product offers.

Harvard Innovation Labs Cast

06/12/13

@ Harvard Innovation Labs

Understanding the pain points of your customers is crucial; validate your product by ensuring it addresses a real and valuable problem.

Michael Skok

04/01/23

@ Harvard Innovation Labs

Value propositions are crucial because the primary reason companies fail is that they don't address a significant enough problem, leading to a lack of value that customers are willing to invest in.

Michael Skok

04/01/23

@ Harvard Innovation Labs

When building a value proposition, it's essential to evaluate it yourself to determine if it's compelling enough to drive customer engagement.

Michael Skok

04/01/23

@ Harvard Innovation Labs

To achieve market fit, your solution must uniquely address a significant problem that users face, making it indispensable to them.

Michael Skok

04/01/23

@ Harvard Innovation Labs

Understanding the inertia and risks customers face when considering your product is vital for developing a compelling value proposition.