There is no One-Size-Fits-All Approach to Running a Business

Are you trying to grow your minority business by duplicating the approach your competitors or peers are taking? It can be easy to see what someone else is doing and think that’s the way to succeed. But can I let you in on a secret? There isn’t a one-size-fits-all approach to running a business.

There are certainly best practices that business owners and leaders should be aware of, but ultimately, you are unique and so is your business. If you’re inspired by something someone else is doing, it’s okay to take note of it. But use it as inspiration and then tailor it to your business.

Make sure the approach you take makes sense for your business. Find a direction that fits your personality style as a leader. Otherwise, you’ll run into problems.

Here’s where your unique value proposition (or UVP) comes into play. A UVP explains the specific benefits your product offers, why your target customers should choose your product over the competition, and how your product resolves their pain points.

Your UVP will help you stand out from your competitors and speaks to your ideal customer. It will also help you ensure that your work always aligns with your true business.

Do you need help creating your UVP?

Here are some questions you can ask yourself as you begin to develop it:

1. Who is my ideal customer?
2. What are the benefits of my product/service?
3. How is my product or service different?
4. Why do I do what I do?

And once you have drafted your UVP, ask yourself: Is what I’ve written down clear and easy to follow?

If this feels a little bit overwhelming, know that IMS is here for you.

I’d love to know, do you have a unique value proposition drafted? Comment and let me know.