Identify the reasons for preparing a business plan with its various parts and determine how the plan is used. Maybe you came into this course with a clear idea of a business you would like to create. Perhaps you already have a business. Or, you may not have an idea yet of a business you would like to own someday. No matter where you are in the process of entrepreneurship, the most important thing is to get started. Throughout this course, you will be building the blocks of a Business Model Canvas. For this week, describe the value proposition for your business or business idea (if you don't have one yet, make one up, you can change it before your final plan is due). A value proposition is a promise of value to be delivered. It's the primary reason a prospect should buy from you. In a nutshell, a value proposition is a clear statement that explains how your product solves customers' problems or improves their situation (relevancy), delivers specific benefits (quantified value), tells the ideal customer why they should buy from you and not from the competition (unique differentiation)