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HAVE YOU EVER said to yourself, "I must have it," in reference to a product or service?
Inner drive and passion separate a simple value proposition from a compelling value proposition (CVP). An ardently desired good or service will overcome alternative investments or other obstacles to justify what you want to do. Buying decisions associated with CVP's are built on a combination of sound rationale, passion, and confidence. People tend to fall hard, quickly, and repeatedly in response to a CVP.
A CVP is an array of differentiated and irresistible product tangibles and intangibles, exceptionally satisfying or important to potential possessors over the life cycle of the product or service, prompting a decision to purchase. The CVP is a basketful of values that, when positioned as a whole product, satisfies customers in ways that are important to them. Enduring success occurs when the total value is satisfying.
Your challenge is to create and maintain that CVP at a healthy profit. Interestingly, profit is less of a challenge when you have a CVP. If you're running a profitable business, you already have one or more value propositions. But there is always room to enhance desirability and differentiate yourself further. Yes, a reasonable value proposition can keep you in business-if survival and plodding is where you want to be. But expect constant stress in...