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3. Business Model Fit
Every company needs a sound business model. You need to pair the value proposition with a business model that creates value for your company.
During this stage there's a lot of back and forth between designing the value proposition and the business model.
Fit happens when you generate more revenue than it costs you to deliver the value proposition.
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Fit Stages
A successful value proposition requires fit between what the company offers and what customers want.
Fit happens in three stages:
- On paper: You identify customer jobs, pains, and gains that you can address with your value proposition.
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1. Problem-Solution Fit
At this stage you identify jobs, pains and gains that are relevant to customers, and you design value propositions that you believe can address them.
You prototype multiple value propositions to find the one which produces the best fit. However, the...
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2. Product-Market Fit
During this stage you validate the assumptions underlying your value proposition, and discover what customers really care about. This is a long and iterative process.
Product-market fit happens when you have evidence that your product is creating va...
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📖 Value Proposition Design
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The business model
What makes a product great is not the idea of it or what it can do, but the way it is positioned. Business positioning is not about the competitive pursuit of a niche; it's about finding the right business model.
A business model describes the rationale for the way...
Understanding Business Models
- The primary component of the business model is the value proposition. A value proposition is a description of the goods or services a company offers and why they are desirable to customers or clients.
- A new enterprise's business model also covers p...
2. Product-Market Fit
During this stage you validate the assumptions underlying your value proposition, and discover what customers really care about. This is a long and iterative process.
Product-market fit happens when you have evidence that your product is creating va...
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