A business has to create something that’s different from its competitors. The differentiation must be clear, and it should require very little explanation. It is very important to have this clear differentiation. If you’re creating a business that’s no different from the existing solutions on the market, you will likely fail.
The only exception to this rule may be in creating consumer goods. If you’re selling cars, a subjective experience or innate bias (e.g., a buyer’s parent prefers one manufacturer) may lead someone to choose a Ford over a Chevy. For shoes, the style may make a buyer choose Adidas over Vans.
One thing that can help you differentiate your business is an effective unique value proposition (UVP). Today’s infographic comes from Quick Sprout, and it provides tips on how to write an effective value proposition:
For more resources on creating great value propositions, check out these links: