- Value Creation – Product Development and Engineering
- Value Delivery – Sales Roadmap, Customer Development and Channel Engineering
- Value Capture – Business Modeling, Business Strategy, Financing Strategy
Steve Blank position is that Value Delivery is the most critical of the three:
Without a Customer there is no Business
Aspiring entrepreneurs have to win the temptation to develop the product before developing customers. The product is essential to the business, true, but is completely in the hands of the entrepreneur, whereas the customer is completely out of our control!
Said that, the entrepreneur enters an iterative cycle where s/he considers all 3 dimensions of value in turn. It is crucial that all activities are done considering the value perspectives.
- Avoid the 1 dimensional trap of working on a single dimension at a time, yet remember that Value Delivery is the most crucial!