If you’re starting a business, you’ve probably already put a lot of thought into how it will serve customers and generate income for you. But have you stopped to think about how you’ll explain that to potential customers? Or even to employees—whether you’re already hiring them or preparing to hire them in the future?

You need a clear, concise statement of what your business provides, and for whom.  This statement is known as a value proposition, and it’s a small but incredibly powerful tool in your business toolbox. Converting prospects into customers gets more difficult every year with market shares getting smaller and competitors growing in number. Having a well-defined and clear value proposition can make a business stand out in a sea of competition.

A value proposition is a promise of value to be delivered. It’s the key reason a prospect should buy from you!