Glossary
Value proposition
The simple reason people should buy your product
A value proposition is a clear and concise reason that people should buy your product. Similar to an elevator pitch, the most important aspect of a value proposition is that it’s short and digestible.
Tim Ferris explains value propositions well:
”The main benefit of your product should be explainable in one sentence or phrase. How is it different and why should I buy it? ONE sentence or phrase, folks. Apple did an excellent job on this with the iPod. Instead of using the usual industry jargon with GB, bandwidth, and so forth, they simply said "1,000 songs in your pocket." Done deal. Keep it simple and do not move ahead with a product until you can do this without confusing people.”
Tim Ferris explains value propositions well:
”The main benefit of your product should be explainable in one sentence or phrase. How is it different and why should I buy it? ONE sentence or phrase, folks. Apple did an excellent job on this with the iPod. Instead of using the usual industry jargon with GB, bandwidth, and so forth, they simply said "1,000 songs in your pocket." Done deal. Keep it simple and do not move ahead with a product until you can do this without confusing people.”