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What’s YOUR Unique Value Proposition?

When was the last time you reviewed your Unique Value Proposition, or made sure it applied to your new products or service? Now is a good time to make sure your proposition speaks to the audience you intend to serve.

It’s tough to experience the success you’ve looking for if you don’t have something that sets you apart from your competitors. In case you’re new to this concept, we are referring to your unique value proposition (UVP), also called your unique selling proposition. Why should someone buy from you vs. anyone else? What’s the extra value can you offer? Take a close look at what you want to offer to people as part of your business model, then be prepared to answer the following questions from the start of your business, and continuously thereafter. These seemingly easy questions need to be answered:

1.     What do you offer?

Lay out the details of the product or service you plan to sell. What are its features? What does it do and what does it look like? For example, is it a 7-day e-course on how to set up a WordPress blog? Is it a 6-month coaching program that gives people direct access via email and Skype to you personally? Be very specific.

 

2. How does it solve customers’ problems?

How does your product offering solve your customers’ problems? State the problems your customer is facing, which you know from doing your market research. Describe how each feature of your product or service solves those problems. Think about how your customer would see your solution, not knowing you at all. If you can answer the question “What’s in it for me?” (WIIFM) from the customer’s point of view, you’re already halfway there.

 

3. What’s different about it?

You must create a product or service that is distinct from your competitors. While it is possible to be successful by creating a “me-too” business, it will be much more difficult. How is your solution different from other people’s solutions? Are you offering something extra, such as training or additional services? Do you offer your product in multiple formats, such as audio and video? Do you provide extra tools to make your solution easier to use? If you can’t identify any features that are different about your product, now is the time to go back and create something.

 

4. Why should someone buy from you versus your competitors?

This will be one of the most important parts of your sales copy. It will also be the toughest part of creating your UVP, by far. Connect the problems your potential customers are facing, the features of your product, and how they solve those problems. Then pull in your extra “proof” of why people should buy from you.

Your testimonials of how well your solution works is great social proof. You might have a track record of experience in your industry. You could also have great examples of your solution in action. Which of these are most important to your market? Pick one or use them all depending on what you think your prospects need to hear.

If you really understand what your target customers want, and what your competitors are already offering, you’ll be able to identify just what you can add remarkable value, because you took the time to do your market research. When you put these pieces together, you’ll have your Unique Value Proposition. What’s Your Unique Value Proposition?

 

 

Barbara Jemmott is the founder and business strategist at Your Entrepreneurial Spirit. Her 4-point YES to Customer Acquisition Program (C.A.P.) allows her to work her passion which is helping entrepreneurial women grow their audiences and income, online. She got here through her 20+ years of experience helping businesses understand and implement systems, strategies and procedures to increase productivity as well implement change and streamline operations. With experience and responsibilities to design, develop and deliver training for small to large technology training initiatives for Fortune 100 companies, she brings “Big Business” expertise to the small business space. Learn more about Your Entrepreneurial Spirit and the YES to Customer Acquisition Program at www.yourentrepreneurialspirit.com

 

Just because I’m freelance doesn’t mean I’m free!

Sheralyn

In debating about a suitable topic for my December blog I happened across various poems and ramblings that I keep in an online journal.  I often “park” ideas that may prove useful at some future date in this journal and while most of them amount to nothing, occasionally I am inspired to explore one of these “parked” ideas further. Some of them end up posted in my blog “Random Rumblings from Suburbia.” Today, I share one here. The reason? This particular poem has to do with value.  How do you value yourself, your business and your service to others?

I won’t bore you with the whole poem although I do think it was quite clever. The essence had to do with providing writing services for free and how others perceive the value of that service. As I wrote, it also became a reflection of how I let others determine my value.  I choose to share this publicly today because I want you to know this more than anything else: Don’t ever let another person determine your value! The only person that should determine your value is you.

“I’m a freelance writer, self-employed but blue,

people think nothing of not paying you….

Create content they say, for the web or my blog

I can’t do it ‘cause my brains in a fog…..

 

Refrain….

Just because I’m freelance doesn’t mean I work for free

I have a mortgage and a family…..

 

But I’m busy they say, out hustling for money.

Finding customers to buy my organic buckwheat honey

and don’t have time to work on my website

Words are easy for you – you’ll do it right….

 

You do it at first because you want the exposure

But the only thing gained is a loss of composure

because your wallet is empty and bills need to be paid

and all you have for your labour is a jar of honey in trade…..”

You get the idea.  Your intentions were well-meaning and definitely self-serving to some degree.  You hoped doing various articles, blogs and website posts would earn you exposure and some “street cred.” After awhile though, you begin to realize that an expectation now exists that you will work for free. The value of your effort goes unnoticed and now you’re struggling to ascertain what that value should be. This leads to further turmoil when it comes to asking others to pay full value for the service you are providing. It becomes a vicious circle. Work for free, gain exposure but the exposure comes at a cost – you, undermining your true value.

In a long- drawn out way this is a reminder to all self-employed entrepreneurs, regardless of your product or service, to determine your value up front, own it, state it clearly to others at the start of any negotiation and then provide the best darn service you can – at a fair, openly stated and honestly earned price. Because let’s face it, when we get something at a discount we often think “well that’s all it was really worth to begin with. I’m just paying fair market value now.” Are you worth nothing? We all have value and don’t deserve to be discounted. If you are providing a service to others (and it isn’t a volunteer position) it shouldn’t be free, even if you’re a “free”lance writer!

 

As Owner and Principal partner of “Writing Right For You” Sheralyn is a Communications Strategist – working together with entrepreneurs to maximize profit through effective use of the written word. Looking for web content that works, blog articles that engage or communications strategies that help you get noticed?  Contact Sheralyn today. Sheralyn is also the mother of two children now entering the “terrible and terrific teens” and spends her free time volunteering for several non-profit organizations.

Sheralyn Roman B.A., B.Ed.

Writing Right For You

Communications Strategies that help you GET TO THE POINT!

416-420-9415 Cell/Business

writingrightforyou@gmail.com

When should you say No?

Praveeni

 

“No” is something we may be used to hearing as entrepreneurs, for every yes there are at least five No’s that come before it, but saying it is something that may be unusual. As you become more established and gain more experience people will start to notice you; both for your work and your value. This attention can be a blessing and a curse as your workload and commitments will increase. But just how much work or involvement is too much? When is it time to start saying No? I’ve always had a difficult time declining business offers and saying no to people in general, until one day I realized I was agreeing just to oblige others with no real benefit to myself or my business. Here are a few rules I’ve come up with for instances when it is alright to decline an offer or say No

  1. There’s no benefit to your business
    As an entrepreneur may people will try to sell you products, services, their time etc. to “help” you. It’s important to take a step back and examine each offer to determine whether or not it actually benefits your business. If there is no direct benefit then simply say No.
  1. It doesn’t make you money
    When you run a business it’s easy to get sidetracked and caught up in pointless meetings – basically meetings that have no profit or networking potential. They’re usually the kind of meeting where someone will email or call to “hear more about your business”. Be weary of these kinds of offers, if you don’t believe you can build a mutually beneficial business relationship then decline.
  1. Beyond your expertise
    Sometimes people ask you for your help or advice. Being an entrepreneur doesn’t make you an expert at everything business related so know the limits of knowledge. If something is beyond your expertise explain that it is beyond your scope and recommend someone else who may be of assistance.
  1. Detrimental to your brand
    Being aware of your brand and the message you want to convey is key when running your own business. Thus you must be conscious about how each business decision affects your brand. If allying yourself with a person, group or company compromises your brand or company image decline the meeting or offer.
  1. You’re spread too thin
    Time is something we never have enough of as entrepreneurs. If you find your commitments are taking away from your personal time with family and friends, it’s time to revaluate and prioritize. With all the volunteer and community involvement opportunities out there it’s hard to decline calls to help out, but remember when something is no longer enjoyable it’s time to quit. Volunteering can range from sitting on a board to even helping out at your local hospital. As a rule of thumb try to engage in two volunteer activities maximum, this way you’ll be able to focus more on them and give it your best.

Praveeni Perera is the CEO and co-founder of Professional Edge Consulting a corporate training company based in Ottawa offering training and coaching services to clients around the world.  She can be reached via Website, Twitter, Facebook or her Blog.

This may be the missing piece to making more money and having more fun in your business!

Uchechi

You often hear that clarity is king when it comes to growing and building your business; and I couldn’t agree more. If you want to make more money and attract ideal customers, then you need to be clear on who they are.

If you’ve taken any marketing programs, then you would’ve come across the concept of Ideal Customer Avatar (ICA). The work of getting ‘inside the skin’ of your ICA is one many business owners find difficult to do. However, getting to know them at this level allows you to really hone in on those you want to work with.

Customer clarity helps you attract those who need and value your products and services the most. They are also more fun to work with. When you start to market your business without this clarity, you often attract people who are not the best fit for your business. Business is hard enough without you working with the wrong people.

Another important part of knowing your ICA is that it helps you better market your business and communicate to them in a way they understand. Get to know what issues and concerns your ideal customers have, and how your business solves them. What need do they have, that you’re able to fill? Understanding your customers is key to growing them, because you are then able to tailor your products and services to solve their needs.

A major mistake many business owners make is not using the same language their customer use to describe their concerns. The ‘language’ is the words your customers use to describe their wants, needs and desires? These are the same words you should be using in your marketing materials. Oftentimes as business owners, we tend to speak as if we’re speaking to our colleagues, and our customers may not get it. You need to use the same words they use to describe the problems and solutions they’re looking for. This allows your ideal customers to understand the value of what you have to offer.

An example I gave at a recent workshop on this topic was a personal trainer who used the word “functional exercises” in her marketing material. When I asked what that was, I was told, ‘it’s exercises that maximizes your time so your burn more calories in less time.’ I then said, use that in your copy! Instead of saying ‘functional exercise’ (which the majority of her target customers will not know what that means), she should have said something like; “burn more calories in half the time’.

When getting clear on your ICA, you really need to dig deep and understand what is happening in their world. What are the biggest frustrations they’re looking for solutions to? Overall, it’s important to answer the following questions:

  • Who is my customer?
  • What does my customer need?
  • How can I serve them?

You also need to find out where your ideal customers are. What websites do they frequently visit? What blogs do they read? What groups do they belong to on Facebook? When you have this information, you can then go where they are and offer valuable resources to them (I.e. guest blog, joining the FB group and contributing etc.). Build up your know, like and trust factor and strengthen your relationship with them. It is through this connection that you are able to form lasting relationships. This relationship will lead them to know you’re the obvious choice for them. When you’re able to master this, you’ll be well on your way to making more money and having more fun in your business.

Uchechi Ezurike-Bosse is a Business & Lifestyle Strategist, Speaker and Writer, but most importantly, a proud Mother and Wife. Uchechi is Founder of My Empowered Living (http://www.myempoweredliving.com) a website aimed at helping women shift their mindset and live their passion! Whether it’s starting and building their dream business, or helping them create a lifestyle they crave, Uchechi is the modern woman’s secret to success! Visit Uchechi at www.myempoweredliving.com to get her FREE online video training series The 4 Keys to your Business Success! This free 4-day business training reveals her 4 key strategies needed to build a profitable and successful business, and how to put them to work in your business!

What the Heck is SEO and Why Does It Apply To Me?

Malene Jorgensen

 

If you are a business owner with a website, you may have heard the words “search engine optimization” or SEO. Chances are that you ignored the words when you heard them, because you wanted to focus on your business, your own product development and making sales. And I don’t blame you. But SEO is something you should focus on if your business operates primarily online. If you have an e-commerce store, for example, search engine optimization is a must.

So, what is SEO?

When a person opens a browser and starts searching for something, the person will use certain keywords to find what they are looking for. If you have taken SEO into account when crafting your content, chances are that your website may show up on page one in Google, Bing or Yahoo. SEO is a term that describes various techniques to optimize your content for search engines.

You can’t just create a website and expect to be on the first page of search results, when you search for your website’s name. Unfortunately, you are competing with thousands of other websites with similar names, content, articles and so forth. You have to make your website original, unique and optimized. There are four major areas you can start focusing on right now; value, bounce rate, keywords and back-links.

One thing that search engines put weight on is value. In other words, the content on the website in question must provide valuable information for the readers. Value can include an interesting story, a captivating piece of journalism or an e-commerce store with products for sale. Even your product descriptions add value.

If your website isn’t offering anything of value or interest, people will quickly click back to the search to find another relevant site. When these users quickly bounce away from your page, Google will register the time spent on the site and compare it to the total amount of visitors. This percentage is called the bounce rate. If you have a high bounce rate, search engines may believe that you are misleading readers with your website, claiming you are offering certain content when you are not. You can track your bounce rate on individual pages and articles using Google Analytics.

To improve your bounce rate, you should write valuable content. This is why integrating a blog is so important. It will help give you exposure in search engines, which is an excellent form of marketing. A blog will also give you an opportunity to share value in other ways than just your products or services.

One way to improve your bounce rate is to use keywords to improve your exposure. If you are writing a travel blog about Florida and have a lengthy article about hotels, you want the phrase “Florida Hotels” to be 4 to 6 percent of your overall article – or other relevant key-phrases depending on your article direction. Because this phrase is a higher percentage than other phrases you may have used to craft your article, Google will pick up on this and rank it accordingly. If someone is searching “Florida Hotels,” chances are your site will rank well. Keep this in mind when crafting blog articles.

Lastly, you want to build up some back links organically. This goes back to the concept of value. If another website finds your content to be useful or valuable, they will link to your articles from their sites or social media accounts. This link is called a back-link; it links back to your website. The more back-links you have, the more search engines will think that your content is useful and valuable to people.

Unless you are writing on a very specific topic, you will have to put in hours of work to rank well in search engines. You are competing with websites that have been in search engines for years. But don’t put all of your energy into search engine optimization.

Yes, search engine optimization is important, but don’t think that adding 1000 back-links will secure you a top spot in Google. Since the beginning of 2011, Google has released 25 different algorithm changes that have had some major impacts on traffic for major websites. Back-links may be important in one update, but less important in another.

To ensure a great spot in Google, it really comes down to your readers. Make sure you are giving them valuable and usable information that is worth reading and exploring. Only then will you see the results that you have worked so hard to get.

Malene Jorgensen is an entrepreneur, author and speaker. Jorgensen is passionate about online content, blogging, online business development and e-commerce. She owns an international media publishing company and a design studio. Jorgensen has written several books that are sold in over 50 countries. She is also obsessed with coffee and Twitter. You can reach Malene Jorgensen at Website | LinkedIn | Twitter | Instagram 

Is It Worth Your Time?

time

They say ‘time is money’, but is it really? Another school of thought says it is what you do with your time that translates to money or wealth. I prefer to lean towards the later. We can definitely value our time in terms of what we are worth, but if we are not doing anything worthwhile with that time, then it is definitely worthless.

The question then is, ‘what are you doing with your time to make it worthwhile?’ Making your time worthwhile does not begin and end with money, how worthwhile your time is also depends on what values you hold closely to your heart. These then determines what you should be doing with your time. Saying that, we can still place a financial value on time to determine what it is worth. In doing this, you are able to plan your time better and prioritize tasks.

Say for instance you are paid by the hour for the services you provide, you immediately know how much each hour is worth to you, and also know that for every available hour you are not productive, you may be losing money. Let us say you earned $100 per hour, then imagine that you had house chores to do that would take 2 hours of your time daily, 7 days a week, that would mean you were investing $1,400 worth of your time in house chores, how much would it cost you in a month to have a cleaner these house chores.

However, on the other hand if you were spending that time – quality time – with your family, you might place a higher value on the time, and $1,400 would mean nothing in comparison to what you may have gained from spending time with them.

You could also easily have spent that time doing some reading, writing, networking or other personal development activity that would in the long run, result in an increase in your earning capacity or income; this then could be considered as time well spent.

We are familiar with statements such as ‘I’d give anything to have one hour of peace and quiet’, so if you spend a couple of hours relaxing, you know no matter what the time may have cost you in money, it is either well deserved or worth it as a treat to yourself.

If time is worth money, what could you be doing in your spare time to bring you in money? Perhaps you sometimes spend your spare time twiddling yours thumbs wondering what to do, and bemoaning your state of boredom; or maybe you are currently out of a job. Now is the time to think of something worthwhile you could be doing with that time to add value to both your income and life.

Spare time activities include; learning a new skill or language; utilizing an existing skill of yours to make money i.e. baking, sewing, proofreading, designing clothes or homes, teaching; writing your business plan for that multi-million idea you have; or that writing that blockbuster book. The list is exhaustive

Another perspective of looking at time is to consider how much time (money) you could be wasting. Take for instance if you have been putting off investing or starting a pension plan. For every minute, hour or day you put it on hold, consider the money in interest payments you may be losing. What about those premiums we pay for not being able to make up our mind quickly, such as advanced booking discounts on travel/show tickets, or even late fines?

Also, there is what is considered the moral outrage factor, whereby for the sake of moral or principles, you end of up spending money fighting an issue that may end up costing you more money than the sum you are in dispute over i.e. you spend 15mins ($25 of your time) on the phone disputing a $5 overcharge on a bill.

The important thing is to know what your time is worth, what values you hold dearly, and then prioritizing how you spend that time. This will put you in a better position to maximize and use your time wisely.

Yvonne loves and enjoys working with working with Individuals, Entrepreneurs, and Organizations to achieve desired results. She is a results driven High Performance Consultant & Coach, and straight shooting Speaker whose first objective is her client’s success.  She can be reached at:  www.facebook.com/oliveblueinc,www.twitter.com/oliveblueinc

 

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