Yes, I know you’re worried.
A lot of new businesses have been growing like mushrooms in your neighborhood.
Alam mo naman na tayong mga Pinoy may pagkagaya-gaya.
Have you noticed, when a sari-sari store opens in your neighborhood, after a few months, 3 to 4 of the neighbors will open their sari-sari stores, too?
Not just sari-sari stores, but banana cue stands, barbeque stands, carinderias, etc.
You started as the pioneer in that business but now, you have copycats as competitors.
Now, it’s even harder just to sell enough to break-even.
How can you make them buy from you instead of your competitors?
How do you stand out from the crowd?
In our last email, we discussed the Unique Selling Proposition (USP) and why it is important for any business to succeed. We said that when a business wants to be everything to everybody, it will not be known for anything to anybody.
A business has to stand for something that is different from, and far better than the competition.
The next logical question then is how to identify one’s unique selling proposition. And I’m glad that many expressed their interest to learn about this.
Creating a USP
In developing a useful USP, a business must do these three things:
Today, let’s talk about #1: Be unique
Remy owns a milk tea store. Together with her husband, they started the business over a year ago. During that time, solo nila ang market in their area.
But now, there are at least 10 new milk tea stores competing for the same market. Yung isa pa nga, just one stone’s throw away from her milk tea store.
Of course, when a business is new, more people tend to buy from them. Because people want to try the new products offered by these new businesses.
In the first few months, Remy was losing her customers.
But what’s good about Remy’s milk tea is that aside from offering high-quality ingredients, they also use lactose-free milk, and their black pearls are homemade.
They also employ young adults with special needs.
That’s what’s unique about Remy’s milk tea shop. By using lactose-free ingredients, they solve the problem of those who love milk teas but are lactose intolerance. They also support and provide job opportunities for people with disabilities.
These special features make Remy’s business stand out from her competitors.
That’s why even if there are a lot of other milk tea shops to choose from in their area, she has loyal customers. And after a few more weeks, her customers went back to her.
Now, what makes a business unique?
It’s by having a product or service that’s different from its competitors. It may be in the form of special features or design, a different level of customer service, or a longer warranty, etc.
A business also has to be clear about how its product will solve the customer’s problems. And how it can do it better than anybody else.
Moreover, a business must highlight the advantages of its product. It should focus more on the BENEFITS of the product rather than its features.
After all is said and done, the one thing you might want to think about is YOU. There is no one like you in this world. And you can bring that uniqueness to your business.
Think about your qualities or traits that might be unique and beneficial to your customers and to your business. What is it about you that is different and/or better than anyone else offering a similar product or service?
Please feel free to share your thoughts, feelings, and ideas!
Looking forward to hearing from you!
P.S. If you want to understand more about your business growth stages and still do not have the Grow Your Business, Pinoy! book yet, get your copy here. If you or any of your friends would want to know what stage your businesses are in, feel free to take the assessment here.
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