You cannot develop a good product until you have clarity about the problem you’re solving with it. It’s crucial to describe what you believe to be true about your business idea and how it fits the consumers’ needs.
Storing such information just in your head harms the development process of your product to no end. Among other things, you might even inadvertently alter it to fit a given situation and lose focus and consistency.
I’ll take Airbnb as an example to describe the benefits of a product. The main questions to answer are… What’s the problem? What’s the solution? What’s the value proposal of your product or service?
Problem:
I’d like to make money with my property while I’m not using it. Renting it could be an option, but it’s rather complicated and potentially risky.
Solution:
Airbnb
Value proposal:
Through Airbnb, you can rent your space in a flexible and safer manner.
What to gain:
Now you can make money with your space in a simpler and more comfortable way.
Since it’s a service platform, though, we’ve been looking at a single end of it so far. So let’s refine our idea by bringing in two profiles of potential consumers, a rational one and an emotional one.
Rational User story
Problem:
When I’m visiting a city, I’d like to find a place that fits my financial needs.
Solution:
Airbnb offers a vast selection of private places to stay as an alternative to hotels.
Value proposal:
Through Airbnb, I can find good prices and locations (compared to a hotel room) in an easy and flexible manner. The user interface is practical and efficient.
What to gain:
I can save time and money.
Emotional User story
Problem:
When I’m visiting a city, I’d like to find a place that fits my cultural needs.
Solution:
Airbnb offers a vast selection of private places to stay as an alternative to hotels.
Value proposal:
Through Airbnb, I can learn more about people, their culture, their lifestyle.
What to gain:
I can feel free, smarter, and more fulfilled.
After giving visibility to problem, solution, value, and gain, you can generate quicker decisions for your business as well as for consumers and partners.
Draw your value chain:
- Who’s trying to solve what problems?
- How do they solve these problems today?
- How do you solve these problems?
- Which benefit do people get from using your solution instead of the solution they already have?
Try and experiment this idea and share your results with us!
