Take USPs seriously.

None of the aforementioned challenges are unbreakable and businesses get entangled in most of them when they try to get ahead of themselves. Let’s look at some concise points that can help mitigate these challenges and then try to craft our USP in line with them.

Create a Monopoly:

‘Monopoly’ is perhaps one of the most misunderstood or misrepresented words in the English dictionary, essentially by the business community. Monopoly need not be a product or a service that is unique to a business or holds a lion’s share in that segment. If that were the case, the employees at The Registrar of Companies would have been made redundant a long time ago. It is just impossible for every human mind to come up with a business idea that has never existed, let alone dominate the market with that product or service. Monopoly could also mean just being the provider of unmatched and unparalleled service, in a true and measurable sense. This applies to selling commodities as well. Even if you wish to take Apple, Google, or Tesla head-on, there will always exist an aspect that these giants have forgotten. Find it. Crack it.

Find a Problem to Solve:

Before every answer, a question existed. Similarly, look around you and see if there are any unsolved problems that humanity faces and if you’re fortunate enough to find one, that’s your eureka moment. (As a writer, many a time I encounter ‘writer’s block’. It was during one such moment, I met this friend who reminded me that many business owners these days, do not have a USP. That sounded like a problem to me, and here I am, trying to address that problem through this article.)

Kill Internal Dissent:

I’m not suggesting you to be an autocrat in your company. Instead, ensure that you share the company’s vision and goals with all stakeholders that matter, even before you create your brand. This will help in aligning all the stakeholders, targeting the right audience, and in being able to create a better and more effective USP for your products.

Stay Above ‘The News’:

Mainstream media will only feed you what it wants to feed, or in certain cases, what it’s ‘been told’ to feed. This need not prepare you for the imminent or sudden changes in the market due to the geopolitical trends that are not widely discussed, and this is a harsh reality. The best way to protect your business from such changes is by keeping yourself up-to-date with what’s happening around the world, through your own extensive research.

Above all, USPs should be part of a brand’s strategy and not an afterthought. If you really care for your business, then build your brand with care with a fitting and convincing USP. Whatever the size of your business, just ensure that your brand has the attitude of Apple. In short, have a long-term brand and business strategy, for which you need to invest a sizeable amount of time and energy, and money will follow suit.

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