We as individuals all understand value as consumers whether we are buying a car or whatever.
somehow in startup mode we can lose sight of the question of value, for all sorts of reasons such as the busy nature of a startup, the focus on minimising risk, raising finance and the attractiveness of your idea.
And so for me this is a good starting point
Value = size of the problem you are are addressing [x] implication of not fixing the problem
you should be able to answer this question from day 1
In today’s world (and maybe always) the driving force is value
- Customers want to know how your offering is going to add value to their business and help their careers. How will it reduce their company’s costs or generate additional revenues? –Translation: “What’s my incentive to change?”
- They also want to be assured that your solution will deliver as promised. They just don’t want value-added, they want value assurance. Translation: “Show me how this dream will become reality and give me the confidence to invest.”