How to Make Your Business Original
Part 6 of Acey Gaspard’s Guide to Starting a Small Business
Make Your Business Original
This article covers how to find what makes your business different from competitors. It’s for small business owners who want to move from average to standout.
Building a business takes real effort, time, and money. Once you’ve done that work, it makes sense to build something better than average.
The gap between an average business and a highly successful business is often smaller than you’d think.
Think about horse racing. The difference between the first horse and the second horse is often a fraction of a second. But the difference in payout is huge.
Going From Average to Great Can Be as Little as One Step Up
Most companies in the same industry share the same basics. If you compare two similar businesses, they’ll usually have the same foundational pieces in place. But one does something a little better, or a little differently, and that’s often enough to gain extra market share.
Here’s an example using two website design companies.
Company A builds high-quality websites, including e-commerce and PHP sites. It uses modern equipment and software, prices competitively, and includes hosting plus a year of free updates.
Company B offers nearly the same service, but adds original content for clients and guaranteed search engine positioning and traffic.
Company B doesn’t write that content or handle the search engine work itself. It outsources both. Even so, Company B has captured a larger share of the market, because clients can hand off the work, step away for a few weeks, and see their pages start showing up in search results.
An amateur can build a website. But a website needs visitors who are actually interested in what it offers. Company B isn’t doing much more work than Company A. It’s just perceived as the complete solution for a successful website.
An original idea, product, or service that appeals to your customers can be the difference between running a company like everyone else and becoming a leader in your industry.
Here are three ways to find that unique idea:
1. Find the Missing Link
Everything can be improved. Look for what’s missing in your industry. Try this exercise:
a. List all the businesses similar to yours.
b. List the issues these businesses have in common.
c. From that list, look for something missing across the industry as a whole. Ask questions like:
Where is there room for improvement?
What’s missing from all of these businesses?
What would make these businesses truly stand out?
2. Ask the Right Questions and Wait for the Answer
Asking questions is a great way to get your thinking moving. You already have the ability to answer them — sometimes you just need to give it time.
Start with a quick competitor check. List your direct competitors by product or service and by the market segment they serve. This gives you a clear picture before you start brainstorming.
Then ask questions like:
- What can I do that’s special?
- Why should anyone do business with me?
- What’s unique about my business?
- What are the best qualities of my business, and how can I make them even better?
- What’s the best way to become a leader in my industry?
- What does my team or company culture offer that competitors can’t match?
3. Look at Businesses Outside Your Industry
- A great idea can come from outside your industry. Study successful businesses elsewhere, and you may find an approach that works for yours. Sometimes stepping back is enough to spark an idea.
- When you find a great idea during your research, ask yourself: “How can I apply this to my business?”
- Many successful businesses and business leaders started with a single idea.
Key Points and Facts About Making Your Business Original
- Differentiation is often called a unique selling proposition, or USP — the specific benefit that sets your business apart from competitors.
- A strong point of difference can strengthen your market position and make it harder for competitors to take your customers.
- Differentiation also builds customer loyalty, since people who connect with what makes a business different tend to stick around.
- You don’t need a completely new invention. A better version of an existing approach is often enough.
- Differentiation can come from your product, your service, your story, or your team and company culture.
Action Steps for Making Your Business Original
Evaluate Your Own Business
- Look at your operations and how you run your business today.
- Identify what’s average and where you could do better or different.
Apply What You Find
- Pick one idea from the techniques above and test it with a small group of customers.
- Ask for feedback and adjust before rolling it out fully.
Checklist for Making Your Business Original
- Evaluate your business
- Review your operations and identify what’s average.
- Find the missing link
- List competitors, common issues, and gaps in the industry.
- Ask the right questions
- Check your competitors, then ask what makes your business special.
- Look outside your industry
- Study unrelated successful businesses for ideas you can adapt.
- Consider your team and culture
- Think about what your people and workplace offer that competitors can’t match.
- Test and refine
- Try one idea with real customers and adjust based on feedback.
FAQ: Making Your Business Original
What is a unique selling proposition?
- A unique selling proposition, or USP, is the specific benefit that sets your business apart from competitors — it’s what makes a customer choose you over the alternative.
Do I need a big budget to make my business stand out?
- No. Differentiation often comes from service, story, or approach rather than money. Company B in the example above outsourced the extra work instead of spending heavily on it.
How is this different from marketing?
- Differentiation is what makes your business different. Marketing is how you communicate that difference to customers. You need both, but they’re not the same thing.
Where do I start if I don’t know what makes my business different?
- Start with a quick competitor check, then work through the three techniques in this article: find the missing link, ask the right questions, and look outside your industry.
References:
- Salesforce — Unique Selling Propositions (USP): How to Develop Plus Examples
- business.com — What Is Your Business’s Unique Selling Proposition?
- U.S. Small Business Administration — Market Research and Competitive Analysis
- U.S. Small Business Administration — Plan Your Business
- Pursuit — Competitive Analysis Guide for Small Business Owners
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