As a Start-Up entrepreneur we need to understand our Unique Selling Proposition (USP), if you don’t know how you are unique from the competition it will be hard to sell your products. No sale equals no income.
Here are 3 important tips to understand your USP;
First, SWOT your business.
Identify your strengths, improve your weakness, know your opportunities and lessen the threat. You need to do your analysis and understand what is your current situation?
Example: McDonalds
Strength-Largest quick service restaurant and maximize economies of scale being present in many locations.
Weakness -Unhealthy food on the menu
Opportunities - Customized customer experience with technology.
Threat- New healthy fast food restaurants entering the marketplace.
Second, Analyze your brand.
Brand awareness and recognition will follow, it’s very important to start it right. Once you brand your business, it will be hard to re-brand, you need to make it right at the start phase.
Third, Think about your customer perspective.
Explore your customer journey, the customer avatar should really match your product offerings and get the customer feedbacks. Once you get customer feedbacks and understand their biggest challenge, you can easily improve your products.
In conclusion, you need to understand your Unique Selling Point and apply the three tips mentioned above. Don’t make a mistake of offering your products same as what the competitors offer, you need always to go beyond and meet your customers expectation.
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