Training Workshop on Value Proposition – How to Create Value?

Continuing the series of incubation activities on diverse topics, on Saturday morning, October 2, 2021, a successful Training Workshop on Value Proposition and Value Proposition Canvas was held, with nearly 40 project members from the UII Incubator community in attendance. The workshop aimed to equip startups with essential knowledge and skills related to value creation.

“Success doesn’t come from understanding the customer. It comes from a deep understanding of the jobs the customer is trying to get done.”

– Clayton Christensen

The creation of a product or service with innovative ideas delivers certain value, focusing on addressing the needs of customers and society. The Value Proposition Canvas is seen as a powerful tool for helping startups understand their target consumers' desires and shaping their products to meet those needs. However, developing a well-defined Value Proposition Canvas that effectively solves customer problems requires specific knowledge and skills. This is why UII organized this Training Workshop on Value Proposition, helping budding entrepreneurs gain a clearer understanding of the key factors to consider when designing their Value Proposition Canvas.

The objectives and outcomes that UII aimed for participants to achieve through the workshop include:

• Visualize what is important to customers in a format that can be shared.

• Clearly describe how products and services create value.

• Test their understanding of customer jobs, pains, and gains.

• Create a customer profile and identify how products and services provide value.

• Design a one-page model for customer profiles and value creation.

To foster a comfortable environment and bring the UII Incubator community closer together, the workshop began with a warm-up activity where participants shared personal items that were meaningful to them during the COVID-19 lockdown. They also discussed what excited them most about their past week.

This was followed by a fun social media-inspired game called "Guess the Word from the Icon," with secret prizes awaiting those who answered correctly. Despite being a short activity, it brought a lot of laughter and liveliness to the workshop.

The workshop then delved into the core topic:

• Theoretical Foundations: Participants were introduced to the basics of Value Proposition and the Value Proposition Canvas, the benefits of designing such a model, steps for implementation, and tools like Trigger Questions, common pitfalls, and the 10 characteristics of a good Value Proposition, accompanied by illustrative examples.

• Startups were guided in constructing their own Value Proposition Canvas with support from UII experts.

• Sharing and Feedback Session: Startups presented their Value Proposition Canvas in 5-minute slots, receiving constructive feedback from both the Organizing Committee and fellow members of the UII Incubator community.

The theoretical part of the workshop was based on the renowned book Value Proposition Design: How to Create Products and Services Customers Want by Alexander Osterwalder, Yves Pigneur, Greg Bernarda, and Alan Smith (published in 2014), supplemented with real-world examples for easy comprehension and application.

In addition to covering the basic concepts, participants were also shown how to adopt the customer’s perspective to develop optimal solutions. Tools like Trigger Questions on Customer Gains, Jobs, and Pains, along with Value Gains Creators and Pain Relievers, were presented through vivid examples to help startups better understand the challenges to address.

The second part of the workshop focused on hands-on practice. Startups were divided into small groups and given 30 minutes to collaboratively build a simple Value Proposition Canvas using a template provided by UII. Throughout this process, UII experts joined different groups to offer guidance and answer questions, ensuring startups could complete their "assignments" effectively.

One standout feature of the UII startup community is the strong spirit of collaboration, which lays the foundation for potential joint projects. A notable example is the partnership between STEMax and Phố Bên Đồi, which plan to co-develop a STEAM program (Science, Technology, Engineering, Arts, and Mathematics) for students, packed with engaging extracurricular activities to foster creativity.

Recognizing the need for more detailed discussions on startups' challenges in refining their Value Proposition Canvas, UII scheduled two Office Hour sessions where project teams could freely join meetings and consult with UII experts. Additionally, participants were invited to two upcoming training events in early October, part of the International Innovators Awards 2021, on International Business Model Development and Pitch Skills, featuring speakers from the International SEPT Competence Center – Leipzig University.

To wrap up the training, participants were asked to summarize what they learned about Value Proposition. Keywords and phrases like "Less is more," "Customers first," "Pain/gain reliever," and "Personas" were shared, helping to crystallize the core points that UII aimed to convey to startups as they build their Value Proposition Canvas.

UII extends its sincere thanks to Mr. Vương Khiết, Director of the Incubator, for meticulously planning the workshop, preparing materials, and organizing engaging side activities to create an interactive and lively atmosphere. The enthusiastic support from the startups within the Incubator was also a crucial factor in the program's success.

Through this Value Proposition Training Workshop, UII hopes not only to provide startups with valuable knowledge and practical experience but also to foster a spirit of collaboration within the community, encouraging everyone to share and contribute to each other's growth. The aim is to elevate business models to new heights and inspire future partnerships between different startup ideas.

More incubation activities, especially Training Workshops, are in the pipeline, focusing on practical topics for the innovation startup community. Stay tuned for upcoming UII events!

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