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Entrepreneurship – from ideas to reality
Entrepreneurship – from ideas to reality

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Session 5: Defining and building the value proposition

Introduction

Why do some businesses succeed when others don’t? Where do they draw their advantage from? The answers to these questions lie in the concept of the ‘value proposition’. In this session you will be introduced to the concept of a value proposition and consider where value is derived in a business, how to build it into a proposition for customers and how to ensure it is sustainable for your business.

Value is an interesting concept – like beauty, it is in the eye of the beholder! In other words, where you may think your business idea adds value may be different from where your potential customers are looking for it. Another way of looking at it is that, in the end, value is measured by how much people are willing to pay for something.

By the end of this session, you will be able to:

  • explain what a value proposition is
  • define and build one for your own enterprise
  • demonstrate how it can differentiate your business from others for a competitive edge.