You might be familiar with all the buzz around something called the “Business Model Canvas”. There are currently three books in the series which started with “Business Model Generation” then “Business Model You” now a new book ” Value Proposition Design“. So why the interest from the business communities in this interesting way of developing a business model. Simply put, it is engaging, inclusive ,compelling and it works.
Authors Alex Osterwalder, Yves Pingeur, Greg Bernarda and Alan Smith are the dynamic team behind the business model canvas. I recently had the pleasure of having a dialogue with Alex Smith the brains behind the book designs, which I might add are a big reason for the success of the books.
During our dialogue we discuss the key elements in creating a great value for customers, we also get into the steps necessary to create the value proposition canvas: Customer Profile, Value Map and Fit all extremely important considerations in the developing a any new product design. Alan and his colleagues refer to gain creators, and pain relievers as one of the most important elements in developing great designs.
While this all might sound simple it is daunting to create a new product, test it and know that you are creating something that is really needed and wanted by your customers. Developing something in a vacuum is crazy, where your perception of what will relieve your customers pains is exactly that a perception and not the reality of the situation. Developing then testing your product is so important, I speak from experience I have developed a few products and testing is so important so you can gain feedback.
Alan and his team have recently released a cloud based software system allowing teams to collaborate on developing a business model canvases, it is called Strategyzer. In my humble opinion I have never seen software as simple as Strategyzer, providing results in minutes. If you work with a team and you are in the process of developing a new product or service I would highly recommend checking out this amazing new cloud based software.
I encourage you to listen closely to Alan Smith as he guides the listener to a better understanding of Business Model Canvas and Value Proposition Design. If you want to just click on the links provided below that will take you to the related websites associated with Value Proposition Design.