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Teaching Students Value Proposition
By
Stephen Carter
September 30, 2024
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Teaching Students Value Proposition

Much of impactful entrepreneurship education consists in building a foundation–I often liken it to a launch pad. When the students have a firm launch pad in place, they can launch rockets of innovation in every area of their lives. These rockets, or ideation engines, have a much better rate of success when they are launched from a strong foundation consisting of the entrepreneurial mindset.

This is why we focus an entire semester on teaching growth mindset, grit, redefining failure, and opportunity seeking–this is why we encourage students to think like entrepreneurs in every area of life. This is also why we place such a big emphasis on the role of value.

In the world of entrepreneurship, the UVP (unique value proposition) reigns supreme as the argument for why a customer would want to purchase the product or service being offered. What is the value your business uniquely provides? What is the pitch–why should I care?

Much of this has been popularized in shows like Shark Tank where contestants have a short period of time to convince often apathetic customers that their idea is worthy of investment. The experience is not unlike that of the classroom teacher, facing down apathetic students and convincing them that the material being taught is worthy of investment.

And all of this comes down to value–how is value perceived, how is value communicated, and how is value exchanged? When we help students understand the role of value in every exchange, we are giving them a tool for success in all areas of life. Everything is an exchange of value, and the more they understand the value they are offering, the bigger the opportunity to create impact.

One tool I like to use in determining true value is the five why problem solving technique. Once a product or service is identified, consider the problem that product or service solves. Then consider why that problem matters. Then go one layer deeper, and one layer deeper still.

Here’s an example:

Last week a student attempted to sell a cell phone charger in class. We asked what problem this solves and she explained that it ensured your phone doesn’t die. We asked why that problem matters and she said it helps people have a working phone. We asked why again, and she said that when your phone is dead, you don’t get messages. We asked why again, and she said if you don’t get messages, you miss out on opportunities.

This means the true value of what she is selling lies not in the phone charger itself but in the ability for the phone charger to ensure we don’t miss out on opportunities in life–that’s a pretty big value that I, for one, would be willing to pay money for.

When we take time to really focus on true value, and then on communicating that value, it becomes a game changer in the classroom.

Let’s Go!

The Launchpad Foundation of the Entrepreneurial Mindset

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