Skip to main content
_FB_2018-Icons-finalized-cleaned-up_new_FB_2018-Icons-finalized-cleaned-up_newGroup 9
Back
Scroll to top

How to Find Your USP (Unique Selling Point)

Running A Business 3 min read
Unique Lightbulb

Ready to talk to an expert?

Very few businesses are entirely unique. The vast majority of small businesses do something that other businesses around the world also do.

But you don’t want to be just another “fill-in-the-blank” business.

Unless your business is totally original, you will need to find a way to distinguish yourself from the competition. This is known as your unique selling point (USP), value add, or simply your “secret sauce.”

Determine Your Competitive Advantage

The key to finding your secret sauce is knowing what makes your business different from everyone else in a way that has a positive impact on your customers. Very few businesses can compete on price alone, so unless you have a unique situation, stay away from price as a competitive advantage.

If you’re not sure where to start, turn to your customers. You may be surprised by what you hear. Ask your customers why they like working with you and where you have made the biggest impact for them. If you see a common trend, you may have found the answer.

Being the best at something is not easy. If the answer doesn’t jump right out at you, it may require some soul searching.

Think about why your business exists in the first place. What are you passionate about? Why do you get up in the morning and come in to work? What difference are you trying to make for your customers, and how are you doing it?

Make It Your Focus

Before you talk the talk, you have to walk the walk. Claiming a competitive advantage isn’t going to do much for you if it’s not true. Make it a priority at all levels of your business. If you deliver consistently, you’ll distinguish yourself from the competition and keep customers coming back.

Once you feel that your company is truly living up to your USP, include it in all of your messaging. This includes web copy, emails, brochures, and sales pitches.

Make sure that everyone is on the same page and that you’re using the same language to describe your unique selling point and why it should matter to prospects. This is commonly referred to as the “so what” factor.

Consider offering a guarantee to your customers based on this advantage. Showing that you believe in and stand by what you say will make it more likely that prospects will give you a chance to prove yourself.

Eventually, your company will become synonymous with your message. It will be ingrained in your culture and your best customers will evangelize your products or services. This is the key to transitioning from a company to a brand.

 

Ready to talk to an expert?

Share:
First Bank’s Good To Know Logo
Sign up for our newsletter and be the first to know about new tips, insights, and products from First Bank.
First Bank may use this email address to contact you about products, services, and promotions.

You may be interested in...

Image for tile. How To Avoid Scams After Weather Emergencies and Natural Disasters Potential Scam Scenarios Scammers use a variety of tactics to exploit people during the aftermath of disasters. Here are some of the most common scams to watch out for: 1. Imposter Scams Scammers often pose as safety inspectors, government officials, or aid workers, claiming they are there to help. They may ask for sensitive information or upfront payments for services, such as inspections or applications, that are usually provided for free by legitimate organizations. 2. FEMA Impersonators One common scam involves individuals impersonating FEMA (Federal Emergency Management Agency) representatives. They may offer to help you with your FEMA application but will charge an upfront fee, which is not a part of any legitimate FEMA process. FEMA does not charge for applications or assistance. 3. Home Improvement and Debris Removal Scams After a natural disaster, many people need repairs to their homes or businesses. Scammers may pose as contractors offering quick debris removal or repairs but will often demand large sums of money upfront or perform subpar work, leaving victims with little recourse. They may also disappear after taking payment, leaving your property in worse condition. Recognize the Signs of a Scam While scammers can be clever, there are warning signs that can help you spot fraudulent behavior. Keep an eye out for these red flags: No Licensing Required: Scammers may claim they don’t need a license to do the work, which is false. Legitimate contractors should always have a valid license and insurance. Pressure to Sign a Contract Immediately: Scammers often offer a “discount” or say they can only fit you in if you sign a contract on the spot. This tactic is meant to pressure you into making a decision without careful consideration. Signing Over Your Insurance Check: If a contractor asks you to sign over your insurance claim check, beware. This can leave you vulnerable if the work is incomplete or of poor quality. Full Payment Upfront: Asking for full payment before any work is completed is a big red flag. Reputable contractors typically ask for a partial deposit, with the balance due upon completion of the work. Unusual Payment Methods: If someone asks you to pay by wire transfer, gift card, or cryptocurrency, it’s likely a scam. These payment methods are difficult to trace and recover if the contractor disappears. Ways to Avoid a Scam Protecting yourself after a natural disaster requires both awareness and due diligence. Here are steps you can take to reduce the risk of being scammed: 1. Know that FEMA Doesn’t Charge Application Fees FEMA provides disaster assistance for free, and they never charge for processing your application. If someone asks for money to help you qualify for FEMA funds, it’s a scam. Always verify through FEMA’s official website or hotline to ensure you’re dealing with legitimate representatives. 2. Verify Your Insurance Coverage Don’t rely on a contractor to tell you what your insurance covers. Always contact your insurance company directly for details about your policy. Additionally, never sign over your insurance check to a contractor. You want to maintain control over how your funds are spent to ensure the work is completed properly. 3. Be Skeptical of Immediate Offers for Repairs or Clean-Up In the rush to clean up or make repairs, it can be tempting to accept the first offer that comes along. However, unlicensed contractors and scammers often show up in disaster-affected areas promising fast fixes. Be cautious of anyone who demands cash upfront or won’t provide copies of their license, insurance, or a written contract. If they refuse to give you any of these, walk away. 4. Get a Written Contract and Read it Carefully Contract requirements vary by state, but even if your state doesn’t mandate a written agreement, always request one. A contract should outline the scope of work, materials to be used, payment schedules, timelines, and any guarantees. This provides you with legal protection if the contractor fails to deliver on their promises. Take Action: Protect Yourself and Your Community As we work together to rebuild after disasters, staying informed is the best defense against scams. Share this information with friends, family, and neighbors so that everyone in your community is aware of these fraudulent schemes. If you suspect you’ve encountered a scam or have been the victim of fraud, report it to local law enforcement, the Federal Trade Commission (FTC), or FEMA’s Disaster Fraud Hotline. Recovering from a natural disaster is hard enough without having to deal with the fallout from scammers. By recognizing the signs and taking the proper precautions, you can help ensure that your recovery is smooth, safe, and scam-free. Additional Resources: Hurricane Helene: Recovery Scams How to Avoid Imposter Scams How To Avoid Scams After Natural Disasters Picking Up the Pieces After a Disaster Stay safe, stay informed, and protect yourself from those who might try to take advantage during these challenging times. 5 min read