So in the last lecture, you remember the business model canvas, all the 9 components of a startup.

But today, we're going to talk about the first box, value proposition.

I'll give you some examples.

Your suggestion is of no practical use.

His suggestion is worth considering.

By now, you're intimately familiar with the business model canvass.

Let's take a look at some value proposition examples.

They need to understand the external environment and they need to come in.

I can't emphasize enough that the business model canvas is just a start.

Who are your key partners and suppliers?

And then, as they went down, they kind of understood.

So those were kind of missing, but again starting with pains and gains was pretty good for their value proposition.

His suggestion is worth considering.

His proposal counted for nothing.

Here is the critical difference between these

I think his suggestion is worth considering.

Because the alternative to pricing on cost is pricing on value.

So again you could start either with customer segments or you could start with a product and value prop itself, it really doesn t matter.

Square team did wonderfully, they actually started with the archetype.

The value proposition for a company that's selling services is kind of the same.

Now we finally come to the last part of the business model canvas.

You're all familiar with the business model canvas.

I haven't seen anything like PlPA and SOPA in all my time in public service.

And their features match the pain and the gain.

So archetypes really helped us understand our customers, they value prop, the revenue and some of our pricing tactics.

So, don't worry if your assumptions were wrong here on your revenue model.

Notice they were beginning with a series of hypotheses about their customer archetype.

The Costa Rican government and the British government had put forward to the United Nations General Assembly, with 54 co sponsors, the idea of the first ever Ceasefire Nonviolence Day, the 21st of September, as a fixed calendar date, and it was unanimously adopted by every head of state in the world.

I agree to his proposal.

I agreed to the proposal.

The first one is your product, and as we said earlier,

His proposal is worthy to be considered.

Tom's proposal is worth considering.

So let s take a look at our Jersey Square team as an example and see how they came up with their value proposition.

What has to happen in all those other pieces of the business model?

Your suggestion amounts to an order.

So number one, as you can now see that there are not only two customer segments, but there are two value propositions, that is, there is a value proposition that matches each one of the segments and there's a revenue stream that matches each one of the segments.

I agreed to the proposal.

He acceded to my proposal.

I agree to your proposal.

This is a multi sided market.

I have a proposition.

I cannot agree to his proposal.

They provide value for money.

We provide value for money.