Solution value can be defined as a difference between perceived benefits provided by a solution and perceived costs associated with a solution. In addition to that there can be a perceived cost of switching to the solution. We use “perceived” here since there is usually a gap between reality and perception and value is in the eye of the beholder.
$value(solution) = benefits(solution) - costs(solution)$ value is relative. It is hard to assign a value number to a solution so people usually compare one vs another. main paths to add value: add benefits reduce costs both sometimes it is cost increase but providing much more benefits aha-moment or value activation - aha-moment is the moment when the user realizes the value of a solution. For example, for a new expensive car the status value of a car can be activated at the point when you gave a ride to a friend and they said “wow, that was great.” For a report, it can be a moment when you receive positive feedback for the quality of the report and not the moment when you generated a report. Top mechanisms to bring more value do an important job nobody else does fix problems in the main job provide base quality for your solution - people expect it as bare minimum eliminate low-level jobs do more jobs within a user using one solution so the user uses your solution more frequently and value it more as a tool move to a different segment with a same solution do the immediate next job after current job - Figma is a good example, current job “create a report”, and next job “share report” reduce the cost of a job add more benefits to a job fulfill basic needs: status, safety, social contact etc communicate that a solution fulfills one of the basic needs wake up a sleeping job - higher level jobs which can be completed more efficiently but using a different solution correct expectations - the user may have unreasonable expectations correcting them in advance will reduce disappointment when unreasonable expectations are not met An algorithm for solving business problems with a product clarify and challenge the goal find mechanisms which may help to achieve the goal find raw material to pick right mechanisms: analytics + JTBD interviews apply mechanisms: Airtable - How to pick value mechanisms rank mechanisms by RICE (Reach, Impact, Confidence, Effort) On RICE RICE (Reach, Impact, Confidence, Effort) is a mechanisms for ranking different solutions. Confidence can be tricky to estimate you can try to use Idea Prioritization With ICE and The Confidence Meter for estimations.