When developing a value proposition, one frequent mistake is creating an offering that primarily extends a feature of an existing product. While this may add value, it might not be sufficient to form the basis of an independent business. This approach is particularly risky if the feature can be easily incorporated into a competitor's future product release, potentially making your offering redundant quickly. It is important to ensure that your value proposition is strong enough to operate independently as a viable business. Another error is assuming that positive initial feedback means the product is essential. A strong value proposition is indicated when customers express a clear need for the product, showing reluctance to proceed without access to it. This level of demand suggests a promising business opportunity. It is important to distinguish between products that are merely liked and those that are necessary for customers. Finally, ensuring there is adequate market demand for your product is essential. While finding a small group of enthusiastic users can be encouraging, it does not necessarily translate into a sustainable business if the overall market size is too limited. A successful value proposition requires not only strong demand but also a sufficiently large customer base to support the business. Identifying and targeting an appropriate market size is key to transforming an idea into a successful venture. ## Activities - Watch the video [Common Mistakes with Value Proposition](https://youtu.be/LwZvddbgU5A) ([[Udacity - How to Build a Startup]], Lesson 5.22) Next: [[Developing Your Value Proposition]] Back to: [[What Will Be Your Unique Value?]]