# Value Proposition **Domain:** Business / Exchange **Doc Type:** Concept Node **Maturity:** Developed ## Definition **Value Proposition** is a clear account of the benefit an offer creates, for whom it creates it, and why the exchange is worth the requested price, attention, or commitment. ## Mechanism and Practice A credible value proposition begins with an honest inventory of capability and the customer's actual need. It supports negotiation because both sides can evaluate what is offered, what it costs, and what outcome it makes possible. ## Relationships - **Related concepts:** [[wiki/Behavioral Pricing|Behavioral Pricing]] · [[wiki/Customer Service|Customer Service]] · [[wiki/Entrepreneurship|Entrepreneurship]] ## Simple Reminders, Quotations, and Thoughts > “Every business relationship rests on a clear value proposition. Knowing exactly what one offers, and believing in its worth, is the foundation of any good negotiation. Each person is the broker of their own value and must take inventory of it before asking anyone else to buy it.” > **— Bryant McGill**, *Business Etiquette, Trust, and Knowing Your Value - Livestream (Oct 2015)* [[reminders/Behavioral Pricing/Know the Value Proposition Before You Sell by Bryant McGill|Know the Value Proposition Before You Sell by Bryant McGill]]