What are the keys to success when operating a locally owned independent small business?

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Competition is fierce these days. Many small business owners fail, because they don't have a Unique Selling Proposition (USP) and they just get lost in the shuffle. The interesting thing about a USP is that this unique attribute or feature doesn't necessarily have to be unique to you, your product, or your services; you only have to create the perception that it is unique in the mind of the audience you are addressing. And if by so doing, you become the only one in your business category talking about your product's special attribute, you end up owning its uniqueness. A strong unique selling proposition lets you to stand apart from competitors and actively focus your energy on creating things that cater to your ideal group of customers.

The Secret to Success for Main Street Small Businesses

By answering the following questions you be well on your way to defining your USP and the outcome with help you to convey key messages and position your brand in the wider marketplace.

Ask yourself…

  • Why should your customers believe in your brand, product or service?
  • What gives you the edge over your competitors?
  • How does your business stand out in the wider market?

By answering these three questions you should be able to make a series of strong statements about your brand and how it is unique. If not, then it’s time to send your business model back to the drawing board! These statements will form part of your key message, which can be used to communicate your USP via your marketing, branding and advertising strategies. Every part of your business, from letterhead and brochures to your branded website and TV ad campaign, should clearly validate your USPs.

3 Lessons See’s Candies Can Teach Entrepreneurs About Operating Successful Storefronts.

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What are some good tips for scaling a business?

Establish Your Competitive Advantage. Small businesses should innovate for the sake of their competitive position. Small businesses need to put emphasis on being innovative because the environment has become extremely dynamic. If you fail to innovate as much as (or more than) your competitors you risk falling behind your competitors’ position. What makes your business unique? In order to make your small business successful, you must be willing to zig when others zag. Innovate!

Why are local small businesses so important?

Hope these tips help! For more, check out our small business knowledge center.