Just one big caveat worth noting, which is captured in the flowchart diagram in the post: I see a lot of founders who claim that they’ve pitched potential customers and gotten excited reactions about the product they’re building, but in practice still fail to get any traction. The culprit is usually that they lacked a specific Value Prop Story, and their conversation with the potential customer consisted of flinging non-specific ballpit concepts.
A few related ideas here:
The 10x startup: the idea that because of switching costs, a new startup has to provide 10x value to the previous alternative.
Problem/solution fit: The stage before product market for where you describe your solution to an idea and the customer says “Yes, I want that.”
So one way to go beyond “Having a specific value proposition” is “Having a specific value proposition that gets your customers excited.”
Ya these ideas are all consistent and related.
Just one big caveat worth noting, which is captured in the flowchart diagram in the post: I see a lot of founders who claim that they’ve pitched potential customers and gotten excited reactions about the product they’re building, but in practice still fail to get any traction. The culprit is usually that they lacked a specific Value Prop Story, and their conversation with the potential customer consisted of flinging non-specific ballpit concepts.