[The best USP is] integrity. Just like this building behind me, which you may recognize as the Colosseum in Rome, it stands for a long time. It’s hard to build in the first place but it lasts a long time and that’s just like integrity in business.
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Sydney, AU (PRWEB) October 31, 2012
“What’s the number one USP or point of differentiation in business?” Entrepreneur James Schramko opens his latest news update by asking audiences the most effective unique selling proposition that can help a company stand out against the competition.
According to Schramko, the best way to make an impression on customers and distinguish a company is by showing integrity. He likens this rare quality to the Colosseum in Rome, an ancient amphitheater that still stands today:
“[The best USP is] integrity. Just like this building behind me, which you may recognize as the Colosseum in Rome, it stands for a long time. It’s hard to build in the first place but it lasts a long time and that’s just like integrity in business,” Schramko explains.
“If you do what you say you will do then that is the best point of difference in business because so many other people don’t do that,” he adds.
In addition to demonstrating integrity in business, Schramko also advises entrepreneurs to avoid using the word “policy” when speaking with customers. He states that this word makes transactions seem less personal and quite stiff, and suggests that service representatives talk about what the company can do for the customer rather than discussing rigid rules:
“When you hear a customer service representative saying, ‘Oh it’s our policy…’ we switch off. We don’t feel very personalized. So be sure to customize your word tracks for customers so that they think you’re talking just to them. Instead, just tell them what you can do,” he counsels.
This advice is followed by a short announcement to all SilverCircle members: “Good news if you’re on the waiting list for SilverCircle. As you know, it opens about every three months and we’re due to open about two or three weeks from now.”
Schramko then gives advice on what entrepreneurs must do once they have identified a hungry market: determine if they can access it. He shares some observations on the coffee market gathered from his recent trip to Italy:
“As I’m driving around Italy, one thing I’ve noticed is there’s a huge market for coffee. But the market is being served very well by local suppliers. What you won’t see is a lot of Starbuck’s chains because they can’t access the market here. The market is hungry for coffee but there’s no distribution. There’s no reason someone would switch out really good localized coffee for an inferior commercialized brand,” he shares.
The key to entering a new market, according to Schramko, is by building relationships. He shares that he has built his own network of friends and colleagues in Italy by forging friendships first: “We’ve been visiting friends in Italy who we’ve become friends with over Facebook first, and then when we meet face-to-face, it extends that relationship. Visiting private residences, accessing things that normal tourists won’t see… that started with the foundation of a relationship. That’s the best way to build your business, through word of mouth and building on top of relationships,” Schramko states.
Schramko also advises entrepreneurs to track their finances by using accounting services such as Xero. He states that this service can make bookkeeping less complicated, helping business owners quickly create financial statements when needed.
For his last tip, Schramko shares the three best pages to include in a website: an FAQ page, a results page, and a glossary. According to the online business authority, “The FAQ answers all the common questions you get. The glossary helps you educate customers as to how your industry works. The results page shows people that what you do actually works.”