Value Proposition Table: Another easy way to connect your solution to your customers’ needs
In the last article, we introduced the Value Proposition Canvas. This framework allows you to easily visualize how to connect your solution to your customers’ needs. Another way to do this is by using a Value Proposition Table.
What is a Value Proposition Table?
The Value Proposition Table is another framework that enables you to easily summarize what problems your customer is trying to solve, what your value proposition is, and how functionally, you can solve for it. It’s a little more granular than a value proposition canvas in that it breaks each problem down into its corresponding value prop and specific features that solve for it.
How to use a Value Proposition Table
You can use the simple template I provided, build this in a spreadsheet, or create a project board in whatever project management tool (e.g. Asana) you use. Each row in this template would correspond to a task card in the project board. I’d suggest using a spreadsheet or task card because you can easily sort and filter by existing categories or even use an ICE framework to help prioritize.
In any instance, you would include the following basic information:
Target customer segment: Who is your target customer segment?
Problem or JTBD: What are their problems? What are their jobs to be done? Functionally, what do they need?
Value Prop: What is your value prop? What is the intended value they get from using your solution?
Feature: How can you deliver that value? What specific features would help deliver that value?
Alternatives: What alternative solutions or hacks can they use to derive that same value or get that same feature?
For example, if you were an angel investor, maybe one of your problems is “startup discovery is limited and time-consuming.” One of your value props could be “easily find the relevant startups to diversify your portfolio”. The features of your solution could be providing an extensive startup network with sort and filter capabilities. Their current alternatives would be attending demo days and fairs, using associates to research startups, using sites like angellist, or hiring expensive 3rd party consultants. When you use a value proposition table, you can start to see how what you build can be directly applicable to what your customers need.
In another post, we’ll describe how do go from a value prop to building your MVP, but for now I’ll let you with this: just because you have listed out possible problems, features, and value props does not mean you need to address them all at once! This is just a starting framework to help brainstorm what you can build.
💡TLDR: Using a value proposition table is another easy way to easily understand what type of solution you should build based on your customers’ needs.
📖 Exercise: Complete your own value proposition table for each of your customer segments’ problems or jobs to be done.
📎 Download: Value Proposition Table Template
🚀 Group Access: Request access to my Entrepreneurs Group to receive more helpful content, special offers, and free access to my Founder Toolkit (including my Google Drive template!).
