Business planning

Hold an end-of-year value proposition review

StartupSmart /

The Taskmaster says review your value propositionI can’t hammer this point enough. Your value proposition is the crucial building block on which your business is built, and as such it must be constantly reviewed, tweaked and improved to ensure you business stays focused.

 

The end-of-year period provides a great opportunity for one of those reviews, preferably with the help of a mentor or some trusted staff.

 

Just quickly, your value proposition should describe who will actually buy your product or service and why.

 

It should lay out in a few sentences, who you are targeting, why your customers need your product (and how you know this) and why your product is better than those on the market.

 

Now, your core value proposition might well be exactly the same as when you started out. However, as 2010 has gone on, it’s likely that there will have been slight tweaks – your target market may have shifted slightly, or your product may have been improved or changed in some ways.

 

If so, an adjustment may be required. Make the changes, share them with the team and ensure you start 2011 on the right foot.

 

Get it done – today!

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