ENTREP5038 New Venture Creation-positive result for your target customer

Steps for using the Framework

 

In short, following are the main steps for using the framework effectively and efficiently;

1. Jot down all the products and services in your portfolio which combine to make up your value proposition

2. Describe how your value proposition contributes to eliminate your target customer’s pain points. Separate sticky notes should be used for each pain reliever

3. Describe how your value proposition contributes a positive result for your target customer. Separate sticky notes should be used for each gain creator.

 

4. Ultimately all three elements; products and services, pain relievers and gain creators should be ranked according to their relative importance to the target customer.

 

Best practices & Common mistakes when using the Framework

 

Best Practices

1. List only the combination of products and services that directly provide value to the relevant customer segment.