Discover your own unique selling proposition and what makes your business unique.
I want you to ask yourself a question regarding your business… Are you unique? And what is unique about you or your business?
This unique thing about your business is what marketers refer to as your unique selling proposition, or USP. Your unique selling proposal is how you separate yourself —in the eyes of your customers— from your competition. In essence, it’s the reason you give your customers to buy from you rather than the competition.
So what is your unique selling proposition? If you haven’t given it any thought before, what would you like it to be? If you said, “To have the absolute lowest price,” you should do some more thinking.
That is one of the worst USP you could possibly have. Having the lowest price simply means you make less money, and that cut in profit affects more than just your bottom line.
It affects all aspects of your business, such as the inability to provide good customer support (because you can’t afford it), develop new and innovative tools for your site, conduct usability tests, and so forth.
Your business will begin to appear more and more like a fly-by-night shop rather than a legitimate company that can instill trust in its customers.
There’s no way around it. Running a business costs money. Running a business well costs even more money. Don’t let your business go under trying to be the low price leader. Instead, find a unique selling proposition for your business and do that one thing better than anybody else, or better yet be the only person that actually does it!
The lesson here: don’t be afraid to be unique! Embrace your uniqueness and watch your business grow.
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