Member-only story
Start-Up 101 — Unique Selling Proposition (USP)
Following my earlier post about the importance of USPs, I had an interesting discussion with the founder of a technology start-up. His company was established five years ago and it has not taken off. As he told me about his business, I shared that he is a victim of the myth that USPs are permanent.
I explained that since his company’s launch, his product’s initial USP has eroded. This is because technology continues to advance and his competitors have responded to market demands. Hence, his former unique selling proposition has weakened and is on the verge of disappearing altogether.
To illustrate my point, I used Toshiba’s computer business as an example. I shared that for the longest time, Toshiba’s strategy was to sell quality computers that were durable and long-lasting. In the early years when computer technology was in its infancy, this was a good USP. Consumers wanted a product that was reliable and would last a lifetime. Since then, the computer industry has matured and computer technology has become a…
