Clearly John’s USP was that he was a skilled craftsman and experienced boat builder. Since meeting John I have spoken to many people who would give almost anything for his skill and experience. While the new boat market is dominated by no maintenance fiberglass crafts, there are still a large number of sailors who prefer wooden boats, and some would say there has been a high revival in wooden boats in recent years.
It’s difficult to say why John failed to see that his USP was his uniqueness, but I do think that probably one of the reasons why he decided to close his business was that he wasn’t earning enough. Certainly if his prices were anything to go by he was seriously undercharging, and these super-low prices could only be sustained for so long.
Was John trying to compete on price with the plastic boat builders? I don’t know, but what I can say is that it does look like he failed to correctly identify his USP.
Having something unique to offer is a great selling point. Our lives are dominated by mass-produced, over-priced garbage. We’d give almost anything to be able to get our hands on something different.
What makes your future business different from others is that you are going to be working at something you really enjoy doing. The enthusiasm and passion you bring to your products and services is what makes your business as unique and special as you are.
Tips:
Never undersell yourself.