Your company’s value proposition is vital to your success.
As a management team, you’re aware of this. But, do you know how often value proposition is overlooked in growing startup companies, especially among different teams?
As a recruiter, I typically work with several individuals within any given company, whether it is directly with hiring managers or with human resources. One question that I always ask when kicking off a search is — why your company? The responses I get are very telling.
It’s clear when companies have spent a lot of time developing a solid value proposition and branding it internally because even when I ask different employees this question the responses I get are extremely similar. When employees give answers that vary significantly, however, it’s an indication that the company hasn’t really nailed down its value proposition and instilled it throughout the organization.
It may be that there are two or three competing value propositions within the company that change depending on the internal team and individual. Or worst case — employees may not clearly understand the value proposition at all, and therefore are unable to convey what is it.
5 Pillars of a Clear Value Proposition
What do you need to know to have a solid value proposition? Answering the following five questions will set you well on your way:
- What is your target customer/audience?
- What is the problem that you are solving?
- How are you solving it?
- How does your solution compare to competitors?
- How can you prove this?
Being above to prove it is especially key to showcasing your value proposition. Be sure you can clearly explain why your company beat out competitors, provide specific examples and customer testimony, and above all else offer solid proof of the success of your company’s solution. Not only is this crucial for hiring managers and recruiters who are responsible for pitching the company day-in and day-out, internally, every employee should know the answers to these five questions. After all, each individual is a representative of the company, and these questions come up far more often than you think.
The True Value of Knowing Your Value Proposition
A company’s value proposition is not just for the benefit of customers. A solid value proposition will allow individuals and teams to align more clearly and effectively internally.
In recruiting, it’s vital to be able to understand and relay this value proposition to prospective candidates. Just like your customers, top candidates want to go with growing companies with real competitive advantage that are solving a real problem. You also have to keep in mind top talent is constantly being recruited. You need to beat out your competitors to get them on board, and that starts with understanding and relaying your company’s value proposition in a clear, compelling way.
How have you instilled your company’s value proposition across your organization?