We look at the Saint Lucian business landscape, and there are some small businesses that have successfully survived for decades in the face of fierce increasing competition. Some well-known bakeries come to mind. By the way I think a study of these businesses would make for a rather interesting and enlightening project. Something maybe the Ministry of Commerce, Business Development, Investment and Consumer Affairs should consider. I would however like to propose that what has worked for these bakeries is their ability to deliver consistently on their unique selling point (USP), in this case being the taste of their product.

A unique selling point or proposition (USP) is what distinguishes and makes your business stand out from among the competition. Your business’ USP can be about your product characteristics, price (best/lowest price), location, service delivery, exclusivity, reputation etc.

The ability to deliver consistently on your USP is no easy task. It requires a concerted effort. However, what one must remember is that the customer is depending on you to maintain that consistency. They will continue to trust you once you consistently deliver. Once that trust is broken they will go in search of the next unique experience.

So the competition is real; and capitalizing on your USP is just one strategy for survival. So if you have not done so already begin this process today:

• Identify your business’ USP. It must be a proposition that is unique and not offered by the competition.
• Set objectives, establish activities, and provide information and resources to deliver consistently on it.
• Make a promise to the customer based on your USP. Ensure the promise is attractive and appealing.
• Market yourself on that promise that encompasses your USP.
• Regularly check to ensure that you are consistently delivering on your USP.