Fast Company: Define your value proposition
As seen in Fast Company on May 2, 2024
How to define your personal value proposition – and put it to use
3 simple steps to take to define your personal value proposition, plus some ideas on how you can put it into action.
BY CAT O'SHAUGHNESSY COFFRIN 3 MINUTE READ
What is your value? Most of us feel a pang of anxiety when we’re asked to define our personal value proposition. It can be hard enough to describe yourself concisely, let alone declare the value and impact you can make.
But the reality is, we’re always marketing ourselves. Whether pursuing a new opportunity, trying to attract partners or investors, or going for that next promotion, knowing how to define your personal value propositionis critical to career success.
A strong personal value proposition should define who you want to work with, what solutions you can offer, and why any of it matters. It can also help clarify what you want next in your career, and who you need to connect with as you pursue those goals.
While it can be tricky, doing this work doesn’t have to be hard. Here are three simple steps to define your personal value proposition, plus some ideas on how to take action.
IDENTIFY YOUR TARGET AUDIENCE
Defining your value starts with knowing who you are trying to reach. While we never want to limit our career options, having clarity of focus makes it easier for others to understand your goals and help support you in your journey.
Consider this: If a senior leader wants to become a fractional CMO but is unclear on which industries or companies she’s best suited to work for, it becomes very difficult to help direct them to opportunities. What’s to separate her from any other marketing leader out there?
But if that same leader shares with their network that they’re focused specifically on healthcare startups, it becomes much easier to help direct them to the right people or places. It also provides useful context about her relevant experience and interests.
There are many ways to define your target audience. Try thinking about this:
If you had to dedicate the rest of your career to supporting a certain type of person, company, or team, who might that be?
How would you describe this target in more detail?
This may be a specific sector or industry, a type of company with certain values or policies, or an environment where you know you can thrive. Or, it might be about a common challenge you can help your audience overcome such as companies that are navigating change, teams launching new products, or individual leaders moving into new roles.
Consider these questions, then write down who comes to mind and why you care about this audience so much.
DESCRIBE WHAT YOU CAN DO FOR THEM
With your target audience in mind, think about what value you can you provide for them.
A great way to get at this is through audience insights. Most of us are drawn to a specific sector or audience type because we know them so well and understand what it feels like to be in their shoes.
So, try to answer questions like these:
What are some of the greatest pain points and challenges your target audience or industry faces?
When you step in to help out—whether as a team leader, a consultant, or on a project—what value do you tend to provide?
What benefit ultimately comes out of you doing this work? What changes or improves for your target?
Look back at your career to help you draw on real examples. Consider the fractional healthcare CMO described above. They probably know that many early-stage firms share similar pain points, and they have a wealth of experience helping them break through these challenges.
So, when they define their value, they should describe it in the context of these specific needs.
TEST YOUR HYPOTHESIS
Now that you’ve done your analysis, try writing down a first draft.
Drawing on the first two topics, your value proposition should sound like this:
For [target audience description]
Who needs [pain points/challenges you help address]
I provide [your value and how you do it]
Because it helps [the benefit for your audience and others who may benefit as well]
For our fractional healthcare CMO, the statement might look like this:
For early-stage healthcare startups struggling to secure funding, I am a fractional CMO who will help refine and amplify your story, so you can connect with the right investors, faster.
Share the draft with colleagues who know your value well, and with people in your network who might be able to help you succeed.
Ask for their feedback about what resonates, what they might change, and what’s missing. Ask them what they might say differently and then update your language with this input.
PUT IT INTO PRACTICE
Once you have this language defined, use it in your outreach and networking efforts. Pull it into your introductory language on your LinkedIn page and your résumé. Share it with your mentor, your boss, and your professional champions.
Watch and observe, and see what changes around you. When you put in the effort to define your value, you will find new and exciting opportunities come your way.