Entrepreneur's Handbook

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Entrepreneur's Handbook

VALUE SUGGESTIONS

What value do you create for your customers? What problems do you solve or meet their needs? Your bundle of services and products that create value for customers is part of your value suggestion, but just as important is what other things you offer do for them, what pain relief and what gains they bring.

Let's imagine an entrepreneur planning to develop and sell a new drill to better explain the difference between product and value proposition. The value suggestion comes to mind when thinking about who will buy the drill and what features the drill should have. He may realize that the value suggestion of the drill is actually not the drill itself, but the hole it will drill in the wall so that it can fix things to the wall. What does that matter? If a smart entrepreneur realizes that what he wants to do is actually hang something on the wall, he can think that it can be solved not only with a new drill, but also with a tape and similar products with high bonding strength and can innovate in this direction.

Let's continue from a place we all know as an example of presenting different values. Food! We all eat out from time to time, but what are the value suggestions that restaurants offer? In fact, there are different restaurants that offer many different value suggestion. For example, a restaurant can focus on innovation and try to relieve the pain of those who are bored of always eating the same dishes with a menu from the ever-changing world. Another restaurant can focus on personalization and make you feel special by perceiving your tastes exactly with the help of technology (DNA, blood test) and preparing the most suitable meal for your palatal delight. A restaurant that focuses on design can bring this gain to customers who want their food to look nice or different outside of its taste. It is already possible to find cheap restaurants to appeal to customers with little money in their pocket, but maybe you are planning to set up a lab-cleaning restaurant chain for customers who fear food poisoning.

As you can see from the examples given above, value propositions can contain many properties. Some examples of these are: Innovation, Performance, Personalization, Getting the job done, Design, Brand, Status, Price, Cost control, Risk reduction, Access, Easy to use, etc. can be added.

If you have more than one group in your customer segments, it is necessary to try to identify value suggestion for each group. In marketplace projects like Yemeksepeti, you bring hungry people together with restaurants. Your value suggestion to restaurants is to be able to sell to more customers. Your value suggestion for hungry people is to be able to order food quickly without looking for a phone number and menu. Again, there are several different customer segments on Facebook and similar multilateral social media platforms. Value suggestion for users like us, being able to easily share and stay in touch with our family and friends, without paying any money. The value suggestion to advertisers, who are the main customers, is to show advertisements to the people who are extraordinarily focused and effective. Remember, if you can use a product or service without paying money, be careful, you are probably the product!