A Compelling Value Proposition: The Missing Tool in Your Lean Startup Kit

Lean Startup can help organizations improve innovation and build a lean culture. However, navigating internal learning and approval cycles is often more challenging than engaging customers. Instead of starting with a Minimum Viable Product (MVP), intrapreneurs should aim for a Compelling Value Proposition (CVP) to get management support before coding, building, or fabricating anything. To develop a well-honed and compelling CVP, intrapreneurs should answer six questions: Who are the intended customers and what are their important unmet needs? What is the full potential of the opportunity? What is the proposed solution for capturing the opportunity and satisfying the intended customer? Who needs to be on the team to ensure the solution's success? What is the competitive advantage of the idea over the alternatives? What are the results that will be achieved from the proposed solution? This CO-STAR method can help intrapreneurs gather intelligence, refine their ideas, and communicate more clearly and confidently. Implementing CVP as part of Lean Startup efforts can guide and accelerate people's discovery and innovation, and help them prepare a practical pitch they can share to continuously improve their ideas.