Your Unique Selling Proposition / USP

Lesson #5

Your unique selling proposition or USP is what sets you and your products apart from the competition. It's a way to brand your name, your products and your business. 

 This is about creating your competitive advantage.

Take for example, FedEx:

"When it absolutely, positively has to be there overnight".

Is this a competitive edge? Absolutely.  Do other businesses offer overnight service?  Yes, but FedEx made it their slogan and it's what they're best noted for. 

Think about branding yourself and your business in the same way.

What sets you apart?  What's the one thing you want people to think of when they hear your name?

How to Find Your Unique Selling Proposition

1. Brainstorm ideas about your business, product or service

• What does it do?
• What does it offer?
• How is it better than the competition?

2. Know what your competitors offer.

By understanding what your competition offers you can offer the same things, only do it better. 

One of the great things about the internet is you can easily find your competitors and know exactly what they are doing.  Use that to help you gain a competitive edge.
 
3. What are Your benefits?

Are your products cheaper.  Are they faster? Are they easier to use? Do they save time or save money? Do you offer remedies?  Help relieve pain or inconveniences?

4. Examples of things that can help you find your own unique selling proposition:

• Free Shipping
• Great Customer Service
• A Contest / Promotion
• Free Gifts
• Referral Savings
• Reminders
• Competitive pricing

Sometimes business owners will drop an idea or a product because they see it has already been done or has competition. Big mistake.

Don't think of your competitors as the enemy.  Instead use your competition to help you compete.  Find out what they are doing and how they are doing, then you do it better. 

Determine what people are looking for, find a profitable niche market and develop a unique way to enter the market by helping others understand what you do, why they should listen to you and why they should buy from you.

===> Lesson #6 - Choosing a Domain Name

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