By the way, this applies to all businesses! It doesn’t matter if you are a Fortune 100, a professional practice, or a mom and pop retail store. You must have a USP!

What is a USP? The USP very clearly answers the question, "Why should I do business with you instead of your competitors?” Here are three questions you can ask yourself that will help you formulate your USP.

1. Why should I choose to do business with you vs. any and every option available to me?
2. What do you offer no one else can or will?
3. What is your reason for existence in your chosen market—other than the fact that you want to be there?

Your USP must always be stated as a benefit that your clients and customers can clearly identify with and agree upon its uniqueness and value to them. The long-term marketing and operational successes you achieve will ultimately, be helped or hurt by the USP you decide upon.

Let’s look at an example:

"We will deliver any computer part in our catalog to you within 48 hours or you don’t pay!" Now this would be a powerful USP that would definitely set the company apart. The competition would have to scramble to keep up and it would create the perception that this company is THE COMPANY to do business with in their industry/market.

Most organizations don't have a USP, only a "me too," commonplace, wishy-washy business that feeds solely upon the sheer momentum of the marketplace. There's nothing unique; there's nothing distinct. They promise no great value, benefit, or service -- just "buy from us" for no justifiable, rational reason.

Do you like spending money with a firm that has no unique benefit, service, selection, guarantee, etc.? I doubt it, which is why we are more than willing to switch companies for little or no reason when we don’t get the value of a USP.

You cannot compete on just price and/or service alone anymore. Customers have the internet to search and they can always get a better price and even better service elsewhere. You have to be unique and you have to be able to take that uniqueness and make it part of your overall company strategy. And, then, you have to be able to implement the strategy.

The worst thing you can do is to not deliver on your USP. That’s the kiss of death for many companies. It’s like having a beautiful strategy in a three ring binder in your desk but never implementing it (which will be the subject of another letter soon).

Take some time today and write down your USP. Then ask your employees and co-workers to describe the company’s Unique Selling Proposition. I think you might be surprised at their answers. And, if you are, it’s time to sit down and create your USP and make sure every person in the company is focused on delivering it. I guarantee if you do create it and deliver it to your customers and clients…you will add considerable income to the company bottom line. I can help you create and implement it. And, if I do, I guarantee a measurable increase in your business. And, that’s one of my USP’s!