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By CarpoACE Europe.
The BUSThink model, developed specifically for this project, integrates 3 tools (Business Model Canvas, Design Thinking and Kanban) to develop business plans in an agile, visual and creative way.
In the Business Model Canvas you work with a very visual model made up of 9 boxes that represent the different elements to be taken into account in the development of a business plan and define the business strategy of a venture.
In this model, the definition of the VALUE PROPOSITION is vital for the development of the business plan through the completion of the other 8 boxes to lead to the production of a successful business plan.
The value proposition is a concept used in marketing and represents what we offer to the market. And in this project it is the main concept on which we have worked by training and training the beneficiaries of it. Defining a value proposition that captures the attention of the market and that makes the target customer fall in love requires making a mental effort that focuses on the unmet needs of that target customer and/or some problem that is currently not solved with the existing value propositions in the competition.
The writer Simon Sinek, author of the book "Start with Why" (2019) became known for a model he created, called "The Golden Circle" and that went viral through a TED talk in which he exposed the model and the science behind it.
While this model is mainly used to explain the strategy of large companies and build successful brands, it can be adapted not only to the reality of small businesses but even to personal life.
For most people it is very difficult to focus on the WHY, as we naturally tend to the WHAT. In the case of defining the value proposition, naturally people tend to try to define a list of characteristics of the services/products they want to offer to the market.
In our project, in the training and mentoring of the beneficiary migrants, by reviewing their value propositions and the construction of their business plan, we try to direct them to reflect and try to focus on the reason, the cause (WHY) why they offer that value proposition. And the cause can be none other than an unmet need or an unresolved problem in the market segment to which the value proposition is addressed. We insist that they internalize this way of analyzing their business based on the market and their needs, to develop successful value propositions.
Once the WHY has been defined, we have not yet moved on to the WHAT, but we first define the HOW we will do it. This is also very important. Most entrepreneurs focus on the product or service they are going to offer without considering that these final characteristics (WHAT) must be the result of a deep reflection on the creative analysis of generating ideas to solve those needs/problems detected in the market.
In the training workshop we held in Modena in June/2024, we did individual and collective exercises to define and validate the value propositions oriented to the HOW stage.
That is why we include Design Thinking techniques in our BUSThink model, so that creative ideas are generated and validated in the market through small market tests adapted to the possibilities of each one. Developing new ways of HOW to satisfy our customer-objectives is vital to be able to differentiate ourselves in the market and "fall in love" with the target customer-with our value proposition.
This article has been prepared by CarpoACE Europe SL.
For any questions, concerns, or issues related to the topics covered herein, please email info@carpoace-eu.com. This project has been funded with the support of the European Commission. This publication reflects the views of the author only and the Commission is not responsible for any use that may be made of the information contained therein.
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