
A value proposition framework is often referred to as a NABC (look at the NABC card to find out more) which begins with a hook—a purpose and audience-specific grabber is defined as follows:
1. Need
- Important unmet customer and market need with “pain point”
- Ecosystem: trends, disruptions, business models, players, …
- 3-Cs white space and beachhead customers: size and growth rates
- Key insights: the few reasons why the need has not been previously addressed and why it is now possible
2. Approach
- Working hypotheses — offering and business model
- Bring-it-to-Life, risk mitigation plan, proof points, and MVPs
- Initial development plan with milestones and resources required
- Innovation champion and team
- After a compelling value proposition is created, then a complete proposal or business plan is developed — timing, financing, production, supply chain, distribution, partners, sales,
3. Benefits per costs (value)
- Customers
- Investors, employees, and partners
4. Competition and alternatives
- Now and in the future by name
- Value Factor Analysis
- Golden Nugget competitive advantage
- Contingency plan for competitive response
After completing an NABC, teams take the next action of completing a brief summary and outlining next steps.