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.

Your suggestion is of no practical use.

You're all familiar with the business model canvas.

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

I'll give you some examples.

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.

His proposal counted for nothing.

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

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

Who are your key partners and suppliers?

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.

And that can't be repeated enough.

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

I think his suggestion is worth considering.

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.

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

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

And their features match the pain and the gain.

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

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.

You need to understand that these people this archetype I'm trying to define are they users or the payers, are they regulators, or they're somewhere else in the buying process.

His proposal is worthy to be considered.

Tom's proposal is worth considering.

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.

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

Your proposal is worthy of being considered.

All of our patents, our entire approach to patents and invention, is based on the idea that the inventor knows what the invention is for we can say what it's for.

This is a multi sided market.

I have a proposition.

They provide value for money.

We provide value for money.

I'll provide value for money.

Where the product goes and see the box labeled value proposition.

Suggestions, bug reports

What exactly do you propose?

So you're all familiar with the business model canvass and hopefully by now you've actually taken a shot and tried to fill out the canvas for your own idea and your own startup.

I've got a proposal!