Making Your Business Stand Out
A question that we all ask ourselves is ‘how do we make our business stand out?’
Let’s knuckle down and find out what sets you apart from your competitors.
What is your Unique Selling Proposition (USP)? Aka what makes your business distinct or what is your competitive edge?
Unique – It clearly sets you apart from your competition, positioning you the more logical choice.
Selling – It persuades another to exchange money for a product or service.
Proposition – It is a proposal or offer suggested for acceptance.
How do you come up with the perfect USP?
The possibilities of coming up with the perfect USP are endless. The best USP is one that fills an obvious need in the marketplace. Focus on the gap in the market and you simply cannot go wrong!
Now .. how do we go about creating our USP?
First thing first, write down all the positive aspects of your business. Does your business provide good service, quality products or reasonable price? Next, think about the benefits that your business bring to your customers. Does your business provide free delivery, after hours service or use products that are locally grown? Last but definitely not the least! Do you know who your competitors are? If a competitor is offering one or more of the benefits that you have written down, cross it off the list. Narrow down your list until you find a benefit that is truly exclusive.
So take your time, look closely at your business and think about:
- What it is you really want to offer
- Who you want to target
- Why you want people to come to you
- How you propose to help them
Here’s a good example:
Josie wants to open a hair salon in an inner city suburb where there are already several other well-established salons. Why should people go to Josie’s salon instead of the others?
Josie lists her business strengths as being welcoming, competitively priced, excellent service by stylists with years of experience. However, Josie soon learns that not only do all of the other salons have experienced stylists charging competitive rates, most of them offer beauty services too. Josie knows she needs something unique.
Based on her market research, Josie discovers an untapped niche in the market – she decides to ‘go organic’. Josie sources organic hair products and colour treatments. She even decides to serve organic coffee, tea and chocolates!
Josie’s USP is that her salon is totally organic. Therefore, she can focus her marketing towards people who are sensitive to harsh chemicals or people who are environmentally conscious. She can then advertise in places such as health food shops or pharmacists where she is likely to find interested customers.
Good luck!
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About Lan Nguyen
Lan is the Founder and Chief Strategist at Success Accounting Group, Melbourne based CA firm. In a matter of short 8 years she has built up a reputable Chartered accounting firm with 3 offices and a team of 6 professional accountants and support team members. Her mission is to provide Innovative and Strategic Financial advice to help her customers make smarter financial decisions today for a brighter future.
Success Accounting Group is for established business owners who would like help to grow a sustained business. As a business owner you understand what drives your business success with our accounting team taking care of the rest.