Business startup tools

Objectives

• Understand the first steps that should be taken into account
  in the beginning of a business
• Perceive the client and their needs
• Define how your product/ service is different from the
  competition
• Analyze and define value proposition

Module summary

In an initial phase of the business there are a few questions to have in consideration:
Why should someone buy your product or service? What is the increased value for the client? How are you going to differentiate from your competitors? The definition of the value proposition is an important part in the beginning of a business. The increased development of technology, globalization, market growth, innovation, are all aspects that should be considered when delineating the path for a company, specially a new one, in which the foundations are essential. Thus, the relevance, value and differentiation are key aspects that must be defined in an early stage. Despite the strange name, the value proposition is for the clients, so it’s something that they must understand – it should be clear and concise, without “fancy” words that the majority of people won’t be able to understand. It should answer the questions presented earlier quickly and in a direct form and with the right language. Before constructing the value proposition, is important to understand in practice what is expected and the importance for the business. Hence, several cases of good and bad proposition will be discussed and analyzed to answer to some questions: What is the key message? What failed? How can it be improved? After understanding the reality, it’s time for you to develop your own value proposition.