What is my USP?

What is my USP?

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Hi,

I am currently setting up my own management accounting practice. I have someone designing my logo and brand at the minute and the first question he asked me was what was my USP...?? I have no idea. Could anyone help please? I'm not sure what my USP is.

My business will be focusing on offering small businesses the support they need in cash flow forecasting and analysis, budgeting and forecasting, variance analysis, profitability analysis etc.

Any help would be much appreciated

Thank you

Zoe

Replies (17)

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By MM Bookkeeping Services
13th Jul 2015 21:22

Unique Selling Point

In other words - what makes your business stand out from your competitors?

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By Zoeadams
13th Jul 2015 21:26

Sorry should've been more clear
Sorry. ..Should've been more clear. I know what it stands for in struggling to think of my USP for my business ....
how can I define this? Any ideas

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Teignmouth
By Paul Scholes
13th Jul 2015 21:35

USP = MTJA

More Than Just Accounts.

I'm trying to be serious here and that's what struck me when I read what you are offering.

In general though USPs these days in our sort of industry are a bit naff as there is no such thing as a "Unique" offering as there will be thousands of firms offering exactly what you do.  So it's better to think of LCSP "Less Common"

Just think of how you would describe what you can do to a prospective client, using smiley words (try to feel excited when you say the words!) and write them on the website.

Best of luck

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By User deleted
14th Jul 2015 07:08

From what you have said your 'USP' could be 'unlocking cash flow opportunities within small businesses'!

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By Zoeadams
14th Jul 2015 09:10

Taxguru
Ooo good one! Thank you

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By thatsnumberwang
14th Jul 2015 09:13

...helping...

Helping small business survive and thrive with invaluable insight.

Perhaps not very catchy that one!

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By petersaxton
14th Jul 2015 09:27

As Paul (nearly) says

It's total nonsense.

Just concentrate on the help you can provide to potential clients.

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ghm
By TaxTeddy
14th Jul 2015 09:31

It's a small stick

It plugs into the side of the computer - mine says 8GB on the side.

Oh, hang on....

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By Maslins
14th Jul 2015 09:44

As Paul says, when there's probably '000s of accountancy practices in the UK, it's virtually impossible to have a genuine USP.  If you were to come up with (a good) one, it'll be copied many times soon.

Imagine a potential client comes to you, and they say "I'm seeing a few other accountants, why should I use you rather than them?"  That's really the question.

It's not an easy one to answer.  Slagging off the competition is virtually always a bad idea.  If you start saying "I know my accounting stuff and am a nice person, I talk in plain English and can help save you tax", problem is, that's what all the others will be saying too.

My suggestion, focus on a niche.  Up to you to choose what that niche is (and don't make it "small businesses within 25 miles of [town]"...that's NOT a niche).  It won't be a USP, but it'll make you stand out from your local competition.

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By andy.partridge
14th Jul 2015 09:49

Confusion

Some people seem to be confusing a USP with a trite tagline. Anyway, isn't a USP old hat? Your designer should be talking about 'positioning'.

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Replying to DJKL:
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By User deleted
14th Jul 2015 09:57

Correct

andy.partridge wrote:

Some people seem to be confusing a USP with a trite tagline. Anyway, isn't a USP old hat? Your designer should be talking about 'positioning'.

Absolutely correct - USP as a term is irrelevant in this digital age. The OP's perhaps referring to a tagline or a punchline!

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By andrew55
14th Jul 2015 14:37

One of my pet hates

Accountants with USPs are one of my pet hates. All of 'em seem to be 'approachable and proactive'!

Your only real USP is you. We're a people business and I'm sure 95% of my clients stick with me because we get on and they understand me when I explain things to them. Simple, but good business.

 

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By cheekychappy
14th Jul 2015 14:46

Pet Hates

"Proactive" - yawn.

"Meeting deadlines on time" - well done.

"Approachable"  you should be.

"Small and friendly" - there's just one or two of you and the rest of the world is big and scary.

"Explain things in a way you understand" - you think everyone else is a bit thick.

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7om
By Tom 7000
15th Jul 2015 13:29

Well...

Its all well and good taking about Branding...

 

Find some clients, tell them what you can do to help

 

help with what? .....thats your UPS/ Fedex  ... and pitch a fee...

 

Its like fishing the more lines in the water the more you catch.

 

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Replying to Wanderer:
Glenn Martin
By Glenn Martin
15th Jul 2015 13:45

Fish Tickler

Tom 7000 wrote:

Its like fishing the more lines in the water the more you catch.

Not strictly true

As a keen angler that does more damage to local fish stocks than a trawler full of drunken

spaniards, you will also find a single correctly baited hook presented in the right way can not only

land you the specific type of fish you want, but also a fish that is of the desired size, in a quality not quantity way.

 

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By David Winch
15th Jul 2015 13:58

It's Like Fishing

I suppose so, @Tom but you'll still catch nothing if you're using the wrong bait, if you're fishing in the wrong pond, or if the fish are just plain not biting!

But back to the original question - You need to find something that tells prospective clients why they should choose you as their Accountant, and not anyone else.  Otherwise, why would anyone choose you?  You absolutely must stand out from the crowd.

Let prospects know that you work for their type of business.  All Accountants do the basics and I'm sure do them well.  What do you do over and above that?  Let prospects know the value-outcomes they will derive by selecting you rather than another practice.

Don't fool yourself into thinking that any of the B.S. and 'so blooming what' stuff will sway anyone, or that claiming to do things they all expect every Accountant to do will set you apart - It needs to be about the extras that you bring to the party.

And for goodness sake don't try to compete on price!

What you end up saying may not actually be unique but if, for instance, you're the only one in your town saying it, it's unique to that town!

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By raybackler
15th Jul 2015 14:18

Life can be simplified when we look after your business

That's what it says on our website and that is what we try to do for our clients.

Most of the above replies tend to focus on what you are offering as a business, rather than what you can do for your clients.  So maybe your offering is aimed at making their business more productive and so they end up with improved profits and cash flow.

Ask not what your business can do for you, ask what you can do for their business - with apologies to JFK!

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