A Unique Business Opportunity: Is it really that important?

As a business owner or entrepreneur you are often reminded that you need to be different or unique in order to be successful. You need to have Unique selling proposition any consultant will tell you and you need to be doing something different from all the other businesses out there. While there will of course be some merit in this advice, its not necessarily the holy grail when it comes to starting up a new business.

When it comes to raising business finance many business angels and VC firms will be happy of there are a number of other already successful competitors out there. This after all will mean that there is demand and a real possibility that if you do things right your business may also be raking in the profit soon.

There's no question that an element of uniqueness in your marketing can make your business more memorable, competitive, and special to your target audience. These are all reasons why being different can be good. But how different should you be?

A student in one of my classes had noticed there were no display ads for management consultants in his local Yellow Pages. "What a great opportunity," he thought, "to make my business stand out to prospective clients." He spent over R2000 per month on a large ad for a full year. The result was not a single phone call, unless you count the ones from vendors trying to sell him photocopiers and phone systems.

He had neglected to ask his consulting colleagues WHY none of them had ads in the Yellow Pages. It seemed like a good idea to him, and no one else was doing it, so he pulled out his checkbook. What never occurred to him -- and what any experienced colleague could have told him -- was that companies don't choose management consultants from ads in the phone book.

Sometimes you can be too unique for your own good. There's a lot in sales and marketing that is tried and true. If you decide to forge a completely new trail, you may be attempting an experiment that many others in your field have already tried with no success.

It's not always just your marketing techniques that are a little too different. The same problem can afflict the product or service you are marketing.

I met a fellow while networking who had a "unique process" for helping companies resolve conflicts between employee groups. When I asked him to explain his process, he said I would have to experience it to understand it. I inquired how it compared to solutions like mediation or team building, and he told me it was a totally different approach that defied comparison.

Since I knew a company that needed help with a problem like the one he described, I would have liked to refer him. But I couldn't picture myself calling my friend at the company to say, "Hi, I know someone who says he can fix your problem, but he can't explain how. You'll just have to hire him and see."

Being noticeably different from the competition can help you attract customers and close sales. But claiming that you have no competition is naive. Comparisons to a known quantity can help prospective customers understand where your product or service fits in the range of solutions they are considering. If they can't compare it to anything, it's doubtful that they will be able to see how your offering could work.

Your market, too, needs to be a group of people who already exist and can be readily identified. A reader once wrote to ask me for some advice on getting her new book published. I asked what market category it fell into, and she replied that she hadn't really thought about it.

I pressed her bit, explaining that her book needed to be categorized in order to be marketed and sold. Even something as simple as where to shelve it in a bookstore depended on having a category to print on the back cover. Was it self-help, spirituality, careers, business? Who did she see as the audience for her book?

She asserted that she was creating a new paradigm, and if I was going to help her, I needed to think more creatively. My reply was to tell her I couldn't help her at all. Her idea may have been brilliant, but no publisher was going to touch her project.

Creating the perception that your product or service is one of a kind can help you capture people's attention and make them remember you. But you have to be able to identify the people you want to reach and communicate how you can be of service in words they can understand.

You know those car commercials that go, "Zoom, zoom, zoom?" I had to see those ads dozens of times before I could remember that the car being advertised was a Mazda. "Zoom" was unique alright, but what did it have to do with Mazda? Or with the benefits of owning one? A catchy slogan like "Inspiration Beats Perspiration" may be clever and unusual, but what the heck is it marketing?

Definitely look for a unique way to express the benefits you offer to your clients, but make sure it still communicates what you actually do. It's okay to get creative with your marketing, but don't bet the rent money on untried techniques.

If you really want to make your marketing more effective, cheaper and less stressful, stop re-inventing the wheel. Find models that work and replicate them. I'm not suggesting that you plagiarize your competitors' marketing copy, but when you see someone successful in your field, find out what they are doing right, and follow their lead.

Don't let your business be a victim of "terminal uniqueness" -- the belief that you are so different from anyone else that none of the rules apply to you. Being distinctive is good; being eccentric can be unwise.