LaunchSphere Webinar - Creating a Compelling Value Proposition for Your Startup.pptx

LaunchSphere accelerator webinar .

1. In partnership with Creating a Compelling Value Proposition for Your Startup

2. Organizers Prize Partners

3. Patrycja Maksymowicz MD Open Solutions Global Startup Grind - Chapter Director 30y in entrepreneurship and business management 360 review | incubation | transformation | growth | market access | market strategy Supported 350+ startups scaleups and growth stage businesses Blue-chip clients: LEGO, BMW, Carlsberg, Pirelli, Scania Mentor | Board Advisor | NED

4. LaunchSphere 2023

5. LaunchSphere 2023 Timeline Applications Deadline Submit your pitch and application online 21st May 2023 Selection Top 20 teams are selected for acceleration program 5th June - 15th June 1st June 16th June Pre-Acceleration Top 20 teams begin the 2-weeks acceleration program Demo Day All 20 pre-accelerated startups pitch at our online Demo Day

6. Eligibility criteria Idea stage Pre-product 50k+ GBP in funding Tech driven new or innovative tech products/services European market Focus on Western or Northern Europe Apply by Sunday https://launchsphere.org/ Questions? [email protected]

7. Creating a Compelling Value Proposition for Your Startup.

8. To help you understand the importance of a strong value proposition To guide you in developing compelling value proposition To discuss best practices for communicating your value proposition Clarity of your concept Development of your value proposition Focus on your target customer How to reach your market Objective:

9. Why is it important to have a strong Value Proposition? ‘ More than 30,000 new products are introduced every year and 95% fail.’ (Harvard Business School professor Clayton Christensen) Lack of adequacy between products and the market as a result of the lack of preparation. Understanding Value Proposition

10. Unique Accommodation for travellers seeking memorable experiences beyond traditional hotel stays. Local Experience hidden gems, interact with locals, and gain a more authentic experience of their destination. Cost-Effectiveness options that fit any budget. Personal Connection with locals and receive insider tips and recommendations. Understanding Value Proposition

11. What are the reasons for startups to fail? 42% of startup businesses fail because there’s no market need for their services or products. 29% failed because they ran out of cash. 23% failed because they didn’t have the right team running the business. 19% were outcompeted. 18% failed because of pricing and cost issues. 17% failed because of a poor product offering. 17% failed because they lacked a business model. 14% failed because of poor marketing. 14% failed because they ignored their customers. Source: CBInsights Q: w hat are the reasons for startups to fail?

12. Q: common mistakes What sets your startup apart from the competition and why should customers choose your product or service over others? How to find the key to unlocking the right UVP?

13. Q: How to develop strong Value Proposition How to find it? What problem does your product or service solve for your customers? What are the key benefits of your product or service? How does your product or service differentiate itself from competitors How will you measure the success of your value proposition efforts?

14. Why is it important to have a strong Value Proposition? Business Model Canvas

15. Business Model Canvas

16. Business Model Canvas

17. SWOT SWOT Strengths Weight* Weaknesses Weight* Opportunities Weight* Threats Weight* INTERNAL EXTERNAL SWOT helps you gain insights into your business's current position, market dynamics, and competitive landscape.

18. Q: w ho influences our customers?

19. Strategies Price Product & Offering Brand Lower: to attract price-sensitive customers Higher: to position ourselves as a premium brand Superior to those of our competitors - highlighting unique features, benefits, or quality Address unmet customer needs or improve existing products in the market Bundles, offering value-added service, exceptional customer service - loyal customer base Create unique brand identity - focus on a segment, e.g. eco-conscious consumers Pro: Attracting price-sensitive customers helps capture a larger market share and increase sales volume. Con: Competing on price erodes profit margins and may not be sustainable if competitors can match or undercut our prices. Pro: Highlighting unique product features or benefits helps differentiate from competitors and justify a higher price point. Con: If competitors can easily replicate our product features or benefits, we lose competitive advantage. Pro: Value-added services creates a strong competitive advantage and improves customer loyalty. Con: Additional services or customer support can be expensive and not sustainable if our competitors can match or surpass our offering. Pro: Developing a unique brand identity can create a strong emotional connection with customers and improve brand loyalty. Con: Can be time-consuming and expensive, and may not guarantee success if customers don't resonate with our brand message.

20. Common mistakes Common mistakes startups make when presenting their offering: Technical jargon - a communication barrier; customers can’t grasp the true value of the product or service. Feature-focused instead of value-driven - users are more interested in the problem-solving aspects and the benefits they can gain. Lack of clear differentiation - lack of perceived value and make it challenging to stand out in a crowded market. Overcomplicating the message - making it difficult to grasp the core value proposition.

21. Communicating your Value Proposition Best practices include: Using clear and concise language Highlighting key benefits Addressing pain points and customer needs ‘Simplicity is the ultimate sophistication’, L. da Vinci Who uses your product/service? Who benefits from it? Who pays for it? YOUR BUSINESS ACTIVITY PRODUCT OR SERVICE OUTCOMES

22. Communicating your Value Proposition VR GAME OUTCOMES VR GAME ? VR GAME ? VR GAME ? The person who uses The person who benefits The person who pays

23. Communicating your Value Proposition VR GAME OUTCOMES VR GAME Adventurous Immersive Interactive Magical Engaging Creative Fun Educational VR GAME Joyful Imaginative Cognitive Development Problem-solving Educational Engrossing Skill-building Growth VR GAME Investment Affordable Convenience Value for Money Parental Control Peace of Mind Long-lasting Family Time The person who uses The person who benefits The person who pays

24. Communicating your Value Proposition The person who uses: Experience a magical world of adventure and fun with our immersive VR game! Step into a virtual reality filled with colourful characters, exciting challenges, and interactive stories. Unlock your imagination and embark on extraordinary quests that will leave you spellbound. Get ready to explore, create, and play like never before The person who benefits: Give your child the gift of endless possibilities with our VR game! Watch as their eyes light up with joy and wonder as they enter a world where they can be anything they dream of. Ignite their creativity, boost their cognitive skills, and enhance their problem-solving abilities. With our VR game, your child will develop crucial life skills while having the time of their lives! The person who pays: Invest in your child's growth and development with our incredible VR game! As you immerse yourself in the endless smiles and laughter, you'll witness their learning soar to new heights. Our game provides an educational and entertaining experience that nurtures their imagination and critical thinking. With our affordable pricing plans, you can provide your child with an unforgettable journey into the virtual world, right from the comfort of your home. VR GAME OUTCOMES

25. Communicating your Value Proposition I mmersive educational experiences that entertain, inspire and foster creativity! AI-powered healthcare platform streamlines medical data, empowering doctors to make accurate diagnoses and deliver personalised treatments faster than ever before. Our e-commerce solution eliminates the hassle of inventory management, maximises sales with targeted marketing strategies, and boosts customer satisfaction through seamless shopping experiences.

26. Wrap up K ey takeaways from today's session: Importance of a Strong Value Proposition: why having a well-defined value proposition is crucial for attracting customers, investors, and achieving long-term success. Developing a Compelling Value Proposition: best practices and techniques for developing a value proposition that resonates with your target market and effectively communicates the unique benefits and value your startup offers. Communicating Your Value Proposition: strategies for effectively communicating your value proposition across various marketing channels and touchpoints to grab attention and drive customer engagement.

27. Next steps Refine Your Value Proposition based on the insights you've gained from this webinar. Ensure that it clearly communicates the unique value your startup provides and addresses the needs of your target audience. Condct Market Research, deepen your understanding of your target market. Identify customer pain points, preferences, and competitor offerings to further refine your value proposition. Test and Iterate, implement your revised value proposition and test it with your target audience. Gather feedback, measure its effectiveness, and make any necessary adjustments to continuously improve and strengthen your value proposition. Seek Support and Collaboration to gain additional insights and perspectives.

28. Thank you!