Finding your superpower? Priceless

Priceless because once you have defined what is your business’s superpower, price won’t factor into customer buying decisions. People will buy from you, regardless of price, because the benefits of doing business with you are so amazing that price becomes irrelevant.

Imagine; no more cutting prices to entice customers. In fact, you could probably increase your prices (within reason of course) and still keep customers coming back for more.

But the problem is that, often, business owners have such blind faith that their business is unique that they fail to stop to think about what that superpower is.

Which also means they forget to leverage this superpower – the little bit of magic that makes it punch through all the competition to win the customers, while making them more money.

Why we all need a superpower. 

Other than it’s really cool, it’s because if you don’t have a good reason for people to come to you, you’ll get lost in the crowd.

It’s a harsh fact, but there is not enough business out there for everyone. There are no guarantees that you will secure the biggest piece of the pie. Or keep that slice when more competitors come along.

Unless you stand out from the rest.

That’s why you need a superpower.

But first, it helps to know what your organisation’s superpower is.

What makes for a good superpower?

Your superpower or Unique Selling Proposition (USP) should be more than just ‘good service’ or a ‘good price’. You want to work on a characteristic that attracts customers (despite your competitor offering a similar product/service). Look for the magnetism that keeps your customers coming back for more, and that will accelerate your business growth if harnessed.

Now, you may be able to drink 10 cups of tea in an hour, but that’s unlikely to drive your business forward. A useful and successful superpower it should be:

  • Truly unique – we all have our favourite superhero, but if we simply replicate what they do, then we will just be a mini-me. This principle also applies to your business. If you are selling the same product or offering the same service as Susan next door there is no incentive for customers to walk through your door, particularly if they see Susan’s first.
  • Exciting to your target market – does it make your customers go WOW, just like we do when a new Marvel movie comes out?
  • Something that will get people talking – a successful USP will have an impact, people will want to talk about it, share it and encourage others to buy into it and from you.
  • Something that can’t be easily copied, or if copied, will be an obvious rip-off (like mini-me)

What a superpower isn’t, though, is:

  • An idea for teleportation written down but then forgotten
  • An invisibility cape never used
  • The same as three other businesses out there in your industry
  • A benefit no one cares about (like clean showroom floors or washed plates in a restaurant – we expect that!)

How do you find your superpower?

The best way to start defining what makes your business unique is to ask yourself a few questions. It’s a time to look at your business from the outside and be honest about what you may see.

Some insightful questions to ask are:

  • What are your competitors’ superpowers? What do they do well?
  • What do they do poorly? What are their weaknesses?
  • What do they do that you don’t?
  • How does your business compare to industry standards in customer service, technology, product quality, and sales and marketing?
  • What are four reasons your customers come to you rather than your competitors?
  • What do you take for granted about your business that your customers may not know about?

Once you understand your business differentiators more objectively, it’ll become clearer where your product or service’s true superpower lies!

Why not share in the comments below what your favourite superpower is? I’ll let you in on a secret; mine is time travel.

Martin Baillie is a Business Coach and Growth Specialist at ActionCOACH Bury St Edmunds, committed to working with business owners to create sustainable, viable, profitable entities within the local community.

We find that most business owners are experts in their industry but not in business. Our ActionCOACH business re-education coaching programmes help business owners to understand all aspects of business so they can build a profitable, sustainable business that works without them.

Contact Martin Baillie, ActionCOACH Bury St Edmunds now on Tel: 01284 334099. You can also follow him on LinkedIn , Instagram and Facebook