Mon 18 Dec 2006
So, what sets you apart from the rest? What is your winning quality? What do you have that your competitor doesn't? In other words, what is your MVP?
An MVP, or “Most Valuable Proposition," is an attribute unique to you that you can offer to the world. It could be a distinctive service, a distinguishing feature of your product, a different policy in your product, or even a large consumer list. Your MVP is your most potent weapon that will spell doom for your competitors and catapult you to success.
So, how can you identify and develop your most significant attribute? Something that will give you an added advantage over others? Here's how:
Look around. What feature of your company is so obvious that you may have overlooked it? Find it, no matter how hard you have to look. Once you get started, you'll probably see it wasn't that hard to find at all.
Perform this simple exercise:
- Make a list of all your company's attributes including employees, products, guarantees, prices, services etc.
- Make three columns against this list.
- In one column, write what you and your company express about each attribute.
- In the next, write down what your competitors are saying about them.
- Compare the two columns.
- In the last column, you need to put on your thinking cap and describe what the other two columns have missed. This will give you your MVP.
Knowing and developing your MVP is the key to driving your business to succeed — most importantly, your business will be successful in the eyes of your customers, because you have what they need and want!