07 March 2006

Only the value proposition was missing!

At the end of last month I went to a meeting which launched a new networking organisation in the region. The objective was to bring together people who work with new ideas and micro businesses to bring them to market. The organisers claimed that 200 were there, and I wouldn't dispute that figure. All kinds of organisations were represented from lawyers to industrial designers and lenders.

There were several speakers but the one thing that I couldn't understand is what the organisation is trying to achieve. The stated objective was to improve networking, but accessing people with the right kind of skills is rarely a problem. If I need a Patent Agent or other skills that I don't have, then I either know someone or I know who to ask. Maybe there is a pile of cash to support these kinds of meetings but it didn't come from the people who attended.

For a product or service to win a following, it has to eliminate or reduce the impact of a problem that people or businesses experience and which costs them something to avoid or minimise. That's the Value Proposition. It is one of the simplest ways of establishing the value of your offer to your buyer. As far as I can see, this meeting was trying to solve a problem that I don't have. I'll watch from the sidelines for the moment and see how it develops.

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