When entrepreneurs are asked what makes their business unique their first response usually is, “we offer the best service/product possible and at a lower price.” That would be a good answer except for the fact that your competition is probably saying the same thing.
How important is it to be unique? In this economy it can be the difference between success and failure.
You need to ask yourself the following questions:
- Do you want to stand out from your competition?
- Do you want people to keep coming back?
- Do you really know your service or product?
- Do you know your competition?
In order to find out what is unique about your business you need to research your industry and find out everything you can about your competitors. You need to know what they do and how they make their businesses unique.
When you start the process it is important as a business owner you consider the following:
- Can you be perfectly honest with yourself?
- Can you think outside the box?
- Do you consider yourself the expert in your business?
- Are you working in your business or on your business?
When you have researched your competition you need to take that information and make your business stand out. Being perfectly honest with yourself and thinking outside the box will help to keep the process honest and original. Customers can see through the whole selling process. By being unique or different you create interest and more visibility so you can move in front of your competitors. Your advertising will then stand out because it clarifies your speciality and makes it the logical choice. One of the things you can do is share with that prospective customer a glimpse of what makes you unique.
Once you have decided on what makes your business unique it is time to introduce it to the market place. Think Unique-Selling-Proposition (USP).
Unique – being unique and positioning your product in the right market.
Selling – persuading another to buy your product or service.
Proposition – suggesting that the customer accept your offer.
It is important that you tell everyone you meet what makes your business unique. Pick the right media to create visibility. It will take a lot of effort but being unique will help you gain the advantage that will make you stand out in a competitive world. It’s time to be unique and make your business stand out!
We offer seminars on a variety of related topics such as Small Business Financing and Insurance. Check out the schedule. For more information about any of Halton’s other Small Business Centre resources and services, and how we can help direct you to the right resources, contact us at 1-866-4HALTON (42-5866), www.haltonsmallbusiness.ca, firstname.lastname@example.org or visit us at 1151 Bronte Road, Oakville.