Entrepreneurs bandy a plethora of official-sounding buzz-terms like “blue ocean strategy” and “ROIC.” If you want to monetize any goods or services, value proposition is the buzz phrase you want to get to know.
I’m a monetization nerd. When I drive home from work, I wonder if I can I find a way to make money during my daily commute? When I’m standing in line at the DMV, can I make money during my waiting time? At the grocery store, how to make money shopping each week gets as much focus as my grocery list. When I’m doing my bills, I think about how to make money on credit card debt by cashing in on reward miles.
When I’m exercising my monetization muscles, I’m not thinking up hare-brained business schemes. I try to build solid value propositions.
What is a Value Proposition
A value proposition is no different than a marriage proposal made to a complete stranger. The only real difference is that the proposal is pitched to a customer instead of a future spouse.