Years ago, establishing a unique value proposition was easy. Today, with the advent of technology and competition from all over the globe, the ability to hone in on and communicate – to customers, investors and employees – why your product or service is unique requires the creativity of the entrepreneurial mind.

“While it is hard to find a unique value proposition, with the creativity we all possess there is always a new way to create one.”ย 

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When developing your value proposition, keep these techniques in mind:

  • The Seven Why’s.ย There is an old technique that was originally developed as part of the Toyota lean manufacturing process in Japan called the “7 Why’s”. It says that if you truly want to get to the root of an issue, ask the question “why” seven times. Start by asking yourself (perhaps with some friends and colleagues) why your product, service or approach is unique. When you get the answer, ask “why” six more times. At the end, it will give you a deeper sense of your value proposition and how it needs to be honed to be truly unique.
  • Intelligence That Only You Possess.ย Anyone can start virtually any company these days. What cannot be copied is the intelligence that comes with experience. A local politician won a mayoral race in a big city against a politician that was well known in the state. The underdog winner focused on things only he could know from having grown up in the city, like the pothole on 5th avenue and the underperforming train system. He used a knowledge he could only obtain from the years he spent growing up in that city. You can’t copy intelligence or experience so find yours as the basis of a unique value proposition.
  • Unique Doesn’t Just Mean Product or Service – It Can Mean Approach.ย Your uniqueness does not have to be a feature of your product or service. It can be the way you approach your market. Take Starbucks. When they launched there was no shortage of coffee in America. Take Apple. The technology behind songs and MP3s existed for a decade. But each of them took a unique approach.
  • Established Relationships. Exclusive or integrated sales and marketing relationships can add to a unique value proposition. When AT&T agreed to distribute the new wave or iPhones from Apple, it gave them a value proposition that other competitors did not have. An established relationship can give you a unique value especially if that relationship is exclusive or highly integrated from a technology or relationship perspective.

While it is hard to find a unique value proposition, with the creativity we all possess there is always a new way to create one.

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