LSA06: Crafting a unique value proposition

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UVP Introduction

What is a Unique Value Proposition?

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A unique value proposition (UVP) is one of the most important parts of the lean canvas and for your business. It captures what makes you different, what you offer your customers that is so unique that they will choose you over others. It also captures what gives you an edge over your competitors. It is best captured in a statement that is concise, easy to understand, that explains the value you bring to the customer. Many confuse this with a slogan but it is not a slogan. Your UVP must communicate the value you create, its uniqueness and for whom you create it. Before you craft your UVP, there are some things you must have in place. By now you should have completed three courses already. The previous courses focused on understanding who your customers are and their top priority problems. In order to craft a successful your UVP, you need a clear understanding of both of these elements. That is why when you document your idea in the very start of your entrepreneurial journey, you can leave the UVP section blank. Once you’ve validated your customer segments and their problems (Customer-Problem Fit), you understand their needs, you can put yourself in their shoes and come up with a solution that solves their problems.