Value Proposition

1. Start with core competencies

* What are you really good at?

* A value proposition has to be what you do and who you are. It can’t just be what you want to be and what you say you are.

2. Study your customers

* Who are your top customers?

* What problems do you solve for them?

* What problems do they want solved?

* Is there a new trend in any of your key customer segments?

3. Turn core competencies into values

* Ask yourself why someone should buy from you instead of a competitor.

* Using the language of your customers, refine your core competencies as values.

* If your answer is “best selection”, “best customer service” or “fast shipping” your potential success may be limited. These qualities do not make a business unique.

4. Study the competition

Choose 3 or 4 competitors and study how they market their company and products

What is their value proposition?

* Can they defend it?

* Map their core competencies versus yours

5. Look at trends in the industry

* Can you take advantage of a trend and grab an exciting position in the market?

* Process fieldbus Process safety

* Wireless Industrial security

6. Articulate or define the company vision

* Product Leadership

* Unique products & services State-of-the-art features

* Innovative solutions Customer Intimacy

* Quality relationships with customer Offer “complete” solutions Operational Excellence

7. Identify one core value

* Be decisive about which of the three you choose

* Sends a clear message to potential customers as to why they should buy from you and to employees as to what they should be doing.

* Choosing makes a statement as to what your structure, core competencies, business process, and culture will look like, and provides the customer profile upon which you can build a well-constructed business strategy!

8. Build a value chain

* Determine whether you can support your top value...