The business landscape is perpetually shifting, but the basic fundamentals of business rarely change.
Whether your company is a scrappy startup or an international juggernaut, it needs to find a way to consistently provide value to customers – and just as important, it needs to communicate that message succinctly and effortlessly.
At the foundation of these efforts exists the value proposition, a deceptively simple set of key messages that serve as an anchor for all sales and communications efforts for an overall brand or a specific offering.
Crafting the Value Proposition
Today’s infographic comes to us from Quick Sprout, and it covers the steps in establishing and communicating an effective value proposition that can help differentiate you from your competitors.
A quality value proposition is clear, easy to understand, and communicates the specific results a customer will get. It also must explain how the product or brand is different and better than competing ways to solve the same problem (i.e. competitors, legacy processes).
Nailing these criteria helps to create an effective foundation for all sales and marketing efforts, and it can also provide a useful compass for guiding any future messaging.
While the concept behind a value proposition is pretty simple, that doesn’t make coming up with one a simple task.
There are literally millions of companies in the world, and likely tens of thousands that do something similar to your company. How do you stand apart from these competitors? How do you clearly articulate the value that you can provide?
One suggestion is to look at the customer experience methodically, and to fill out an exercise similar to this one created by digital brand strategist Peter Thomson:
As Peter skillfully articulates, a value proposition is the intersection between what you make and why people buy it. This intersection is what connects business strategy and brand strategy.
What good is discovering value if it can’t be articulated clearly and concisely?
After you’ve explored the customer experience, here’s a way to put it into words:
1. Identify customer benefits
Make a list of all benefits you offer to your customers
2. Link benefits to value offering
Identify what value your products bring to your customer
3. Differentiate and position yourself
Make it clear who the target customer is, what you offer to them, and how you are different
Using these points, a winning value proposition can be crafted – and if it’s something that is being shown online (i.e. landing page, product page) it may make sense to include the following elements: a headline, a subheadline or paragraph, three bullet points, and a visual element.
Finally, here are some tactics that are relied on to further the effectiveness of the value prop:
|Tactics for developing effective value props||% Use|
|Clearly explain the value of products and services||71%|
|Clearly explain why the ideal customer should choose your solution||56%|
|Develop unique value props for separate products or services||52%|
|Target specific value props for specific buyer personas||45%|
|Testing value props through various media||20%|
What other tactics do you use to craft a compelling message about your company or product?
The World’s Biggest Startups: Top Unicorns of 2021
Here are the world’s biggest startups with a valuation above $10 billion.
The World’s Biggest Startups: Top Unicorns of 2021
Many entrepreneurs start businesses around the world, but only the most successful new companies become “unicorns”—the biggest startups with a valuation above $1 billion.
Some unicorns are little-known companies making quiet but impactful strides in software, healthcare, automotive, and other fields. Others have already become well-known industry leaders, like aerospace manufacturer SpaceX and game developer and publisher Epic Games.
In total, there are more than 800 unicorn startups globally. That said, this visualization specifically hones in on the world’s decacorns (unicorns with valuations above $10 billion) as of December 2021 according to CB Insights.
Private Startups Valued at Over $10 Billion
The world’s most prominent unicorns constantly see their valuations change as they enter different rounds of funding or maturity.
In December 2021, there were 35 startups with a valuation above $10 billion, spread out across different countries and industries.
|Canva||$40B||Australia||Internet software & services|
|Instacart||$39B||U.S.||Supply chain, logistics, & delivery|
|Databricks||$38B||U.S.||Data management & analytics|
|FTX||$25B||China (Hong Kong)||Fintech|
|Xiaohongshu||$20B||China||E-commerce & direct-to-consumer|
|J&T Express||$20B||Indonesia||Supply chain, logistics, & delivery|
|Fanatics||$18B||U.S.||E-commerce & direct-to-consumer|
|SHEIN||$15B||China||E-commerce & direct-to-consumer|
|goPuff||$15B||U.S.||E-commerce & direct-to-consumer|
|Grammarly||$13B||U.S.||Internet software & services|
|JUUL Labs||$12B||U.S.||Consumer & retail|
|GoodLeap||$12B||U.S.||Internet software & services|
|ZongMu Technology||$11.4B||China||Auto & transportation|
|Celonis||$11B||Germany||Data management & analytics|
|Weilong||$10.9B||China||Consumer & retail|
Many of the most valuable startups are already giants in their fields. For example, social media company Bytedance is the developer behind video network platform Douyin and its international version, TikTok, and has amassed a valuation of $140 billion.
Financial services and payment software company Stripe jumped from a valuation of $36 billion to $95 billion over the course of the COVID-19 pandemic.
Even less universally prominent names like Swedish fintech Klarna ($45.6 billion) and Australian graphic design platform Canva ($40.0 billion) are well known within their respective fields.
But private valuations don’t last forever. Many eventually go public, like electric vehicle maker and Tesla competitor Rivian, which had a valuation of $27.6 billion before listing on the NASDAQ.
The Biggest Startups by Industries and Countries
Breaking down the world’s biggest startups by industry highlights that tech is still king in most investing circles.
More than 77% of unicorns valued above $10 billion are categorized directly in tech-related fields, primarily in financial and commerce software.
|Startups Valued Above $10B By Industry||Number|
|E-commerce & direct-to-consumer||4|
|Internet software & services||3|
|Consumer & retail||2|
|Data management & analytics||2|
|Supply chain, logistics, & delivery||2|
|Auto & transportation||1|
And many of the unicorns categorized in non-tech fields are still technology companies at their core. In fact, Indonesia’s logistics and package delivery company J&T Express is one of the few unicorns not directly in tech, though it still uses automated sorting in its warehouses.
It was one of the few startups to come from somewhere other than the U.S. or China, which together accounted for over 70% of the 35 biggest startups. The UK (3) was the next most-frequently listed headquarters, while Australia, Brazil, Germany, India and Sweden each had one of these unicorns on the list.
With constantly fluctuating valuations and technological breakthroughs always around the corner, the next $10 billion unicorn could come from almost anywhere.
Which Country is the Cheapest for Starting a Business?
These maps show the most (and least) costly countries for starting a business by relative costs.
Which Country is the Cheapest for Starting A Business?
Starting a new business isn’t as simple as coming up with an idea.
In addition to the time investment needed to formulate and create a business, there’s often a hefty capital requirement. A new business usually requires paying different fees for licensing, permits, and approvals, and many governments also have minimum on-hand capital requirements.
And costs are relative. Though it might be more costly to start a business in some countries on paper, affordability also takes into account relative income.
These graphics from BusinessFinancing.co.uk use data from the World Bank’s Doing Business 2020 report to examine the startup cost for a small-to-medium-size LLC in the largest business cities across 190 countries.
The Cost of Starting a Business in Different Countries
From a pure cost perspective, the affordability of starting a business is extremely dependent on where you are located.
Some countries make the cost of business extremely low to encourage more economic activity. Others have high or nearly inaccessible fees to protect existing businesses, or to simply cash in on the entrepreneurial spirit.
|Country||Cost (2020 USD)||% of Monthly Income|
|Congo (Democratic Republic of the)||80||2.39|
|Trinidad and Tobago||115||0.1|
|Micronesia, Federated States of||231||0.82|
|Papua New Guinea||459||2.71|
|Central African Republic||529||14.55|
|United States of America||725||0.16|
|Bosnia and Herzegovina||833||1.93|
|Congo (Republic of the)||1229||25.46|
|Antigua and Barbuda||1271||-%|
|United Arab Emirates||7444||2.23|
At a glance, the cheapest regions for starting a business include Central Asia and Africa.
But the cheapest countries on the dollar for a new startup are Venezuela, Rwanda, and Slovenia. While the former does have fees that only total $0.21, both Rwanda and Slovenia have no fees for new businesses, though Slovenia does have a capital requirement of €7,500.
Expensive countries for new businesses are also spread across the world. There are some in Europe, including Italy at $4,876 and Austria at $2,475, as well as the Americas, including Suriname at $3,030 and Ecuador at $1,630.
The most expensive countries, however, are largely in the Middle East. They include #1 UAE at $7,444, #4 Qatar at $3,952, and #6 Lebanon at $2,855.
Which Country is the Most Affordable for Starting a Business?
Just as costs vary by country, so too does relative affordability.
Though some countries are cheaper than others for starting a business on the dollar, the picture changes when accounting for monthly income. When it comes to the cost of starting a business relative to monthly income, many developed countries take the cake.
Not including countries with missing data, the most affordable countries for starting a business include the UK, Denmark, and Ireland in Europe, South Korea in East Asia, and New Zealand in Oceania. Startup costs in each range from just 1%-2% of monthly income.
The picture is similar in the Americas, where Chile and Canada have the lowest relative fees at 2% and 5% of monthly income respectively. Even the U.S.—which has a decently high cost of $725 for starting a business—is relatively affordable at 16% of monthly income.
Some of the least affordable countries lie in the Middle-East and Central America. Haiti and Suriname have startup costs that are 1,403% and 1,114% of monthly income, while Yemen has affordability rates of 1,070%.
But the least affordable countries are in Africa. Many countries on the continent have startup costs that are more than 100% of monthly income, but the Republic of the Congo and the Central African Republic have affordability rates of 2,546% and 1,455% of monthly income, respectively.
Where is the best place to start a business? It can depend on the barrier to entry. But the biggest barrier takes time and ingenuity: finding the right idea at the right time.
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