Value propositions are a little like wine – there is a vast difference between good versions and bad versions, but many people cannot discern the nuances that go into crafting the best.

As the name would imply, a value proposition is a statement that conveys the benefit that a product provides to consumers. However, an effective value proposition is more than a statement of value. The best value propositions also:

• Make a credible promise to consumers
• Solve problems or help attain aspirational goals
• Differentiate products from competitors
• Provide quantifiable benefits
• Persuade consumers to take action (purchase, donate, etc.)

Unfortunately, instead of using this powerful tool to drive profits, many organizations end up with lackluster value propositions or overlook them altogether. Businesses in highly competitive industries are particularly vulnerable to falling flat with their value propositions because they are forced to contend with many competitors for the same audience’s limited needs.

Regardless of your industry, what you do, or your business type, two things are probably true: 1) you rely on customers and clients for success, and 2) you have competitors. As such, how you market your business is a critical part of business longevity, reputation, and influence.

This is why value proposition becomes so important. Indeed, a value proposition is arguably the most important aspect of your overarching company message, and potentially the most critical element of your marketing strategy.

A targeted marketing strategy has the potential for generating far more revenue than a generalized mass marketing approach. However, proper targeting is contingent upon segmenting your audience into distinct groups that share the same needs or characteristics.

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Brand integrity is a measure of how buyers perceive a brand across all its touchpoints. It is the sum of an organization’s parts as calculated by the public, and it has a direct correlation with overall brand value.

This brand value translates to revenue numbers, valuations, and almost every other measuring stick that both public and private companies use to demonstrate worth to investors and shareholders.

Savvy business executives understand that sales aren’t just about selling – it is about positioning and planning to ensure long-term success. An effective sales model has always laid the framework for a go-to-market strategy across all areas of the business. However, sales models today vary substantially from their historical counterparts.

Modern businesses face more rapid change and more complex logistics than ever before, which means their sales models have to follow in stride. Traditional sales models are failing to keep pace with the number of potential buyer touchpoints that B2C and B2B businesses manage.

Today’s sales model must be strategic in nature – integrating sales, marketing, distribution, and promotional considerations.

This checklist will help you align business functions with the end goal of a strategic sales model in mind:

While sales and business development are often used interchangeably, it would be an error for these two very different jobs to be characterized in exactly the same manner. Business Development may also be used as a mask when a sales person does not want to be viewed as a sales person. Some companies will make the sales people feel more important by giving them a special title for their new business cards.

Those who focus primarily on sales and those who work in business development have unique objectives and pathways for accomplishing those objectives. Both business development consultants and salespeople are integral to the growth of a business, but the two roles should complement one another rather than being considered as interchangeable.

Here is a list of my top recommended books every leader who is responsible for growing revenue should have in their library. This list includes books focused on sales, marketing, leadership and personal development.

The things I want to know are in books; my best friend is the man who'll get me a book I ain't read. - Abraham Lincoln

What is my criteria for adding a book as a “favorite”? Such a book keeps me interested and offers a return on investment for the time. The return on the time invested to read the book might be a new idea or something that improves the business in a significant way. These books have influenced not only my business decisions, they have also offered new opportunities for personal development.