I keep hearing about VP and BD - what are they?

A product offering does not come with either value and business method. If you have a cost of making something, you can not find someone to buy your item at your cost. Here is why. People only buy things when they perceive a bargain. Second, people only buys things in a market, where there are competitions. Business method has to do with how you win in a market. Value proposition has to do how to make people perceive a bargain. Without these two elements, no one will buy anything.