by Cynthia Renee Frazier.

I recently attended a networking event that was absolutely fabulous. Over 50 women business owners shared what they do with each other. The energy was high and the business exchange was tremendously valuable. As part of the formal networking structure, each owner was asked to give their unique selling point. I was struck by the lack of understanding of what a USP is among these successful entrepreneurs. The majority of owners I heard said that what made them different is that they conduct their business with integrity and honesty. It was clear that as we went around the table, the owners failed to recognize how many people said the same thing. None of the women could say what made their business stand out from the crowd.So I wanted to take this opportunity to discuss what a unique selling proposition is and how a business can distinguish itself from the rest. If you have questions about finding your USP, give me a call for a free 30 minute consultation. If you are ready to take the next step and benefit from my expertise, click hereThere are certain principles that are a given in business. Having integrity and honesty is great, but this is not what makes you, your product, or your service unique. Things like integrity, honesty, great customer service, or service with a smile are all expected by customers. These are standards that no one business owner should claim as what makes him or her different from all of the other business owners with similar offerings. Having a USP is very important in a crowded business environment. Ideally, a good USP can increase market share and ultimately increase the bottom line of a business. So just what does distinguish one business from another with similar offerings?  An effective USP is a statement that tells the benefits you offer and what it is that you do that no other business can do. Your USP should be compelling enough to motivate the prospect to take action. The following five steps will help you identify your uniqueness in the marketplace.1.   Describe the benefits of doing business with you and/or your company.2.   Identify what makes you different.3.   Identify what problems your prospects face and how you can solve them.4.   Close the Gap between what your prospects need and what you offer5.   Use all of the information to write a clear and concise statement.6.   Deliver your message 7.   Preserve and Defend Your MessageWhen you come right down to it, your USP is a powerful message that will drive prospects to choose your company over others offering similar products and services. When writing your USP, avoid using words like more, bigger, better, and faster. These words are generally worthless because they cannot be measured. As you develop your USP, remember that prospects want to know what you can do for them, not how great you are. They want to know how you will solve their problems and make their life easier. Focus on results, and create desire and urgency. It may take a few rewrites, but it is well worth it. The ROI on a well crafted USP statement is an increase in market share and substantial business growth.

Posted in Dare to Grow! | No Comments »

by Cynthia Renee Frazier.

1. Give yourself a raise

When it comes to pricing, many entrepreneurs, particularly women business owners, place a lower cost on their products and services than what the market will bear. Conduct a price analysis on your pricing structure. Be sure to consider these areas. a) what it cost to provide your product or service; b) pricing options such as flat rate vs hourly, subscription based, retainer, or volume pricing; c) the value of your brand; d) your competition and its prices; and e) market demand. Chances are, after a thorough examination, you will find that there is a fair and reasonable cause to increase your prices.

2. Write a marketing action plan

Whether you have a formal business plan or not, it is important to have a blueprint that speaks directly to marketing. Why? Because marketing is the process by which you acquire and maintain customers. Generally speaking, you don’t go from meeting someone to having them spend money with you all in the same instance. Most customers are looking for information that will help them decide where to buy sometime later. A focused marketing plan that identifies your ideal clients, what their problems are, and how you can solve those problems, will result in increased profits for your company.

3. Trust your intuition

“A Woman’s Intuition” has been dubbed as the 6th sense. A woman’s intuition is those instinctive messages women get deep down when something feels right or it feels wrong. When it comes to men, it is known as gut feeling. Women should develop and trust their intuition in business. Don’t second guess yourself.

4. Join a networking organization

Networking is the lifeblood of entrepreneurship. Joining a membership organization is a great strategy when you are looking at ways to grow your business. An organization membership can provide tremendous value to your company. It can bring business to you. You can find mentors and experts to provide valuable advice. The commodore and motivation is priceless. And you can find success partners to hold you accountable for your goals.

5. Identify your strengths and hire out your weaknesses

Entrepreneurs start a business because they have a particular expertise or knowledge that can help others. However, small business owners quickly discover that there are many tasks to be done that fall out of their current skill set. So they end up wasting valuable time and energy trying to learn what they don’t know. Unfortunately, this feeds fear and leaves a feeling of incapability. A better approach is to take on those tasks that you have a passion for and delegate those tasks that slow you down. Working your strengths will give you confidence - a confidence that your customers and potential customers are sure to take notice of.

Posted in Dare to Grow! | No Comments »