USP
Find your unique selling proposition
Your product or service must be unique. It is often referred to as your “Unique Selling Proposition.”
If it is not unique then it is a commodity and supply and demand factors dictate that you will lack pricing power. Your larger competitors with deeper pockets will have the edge in advertising, marketing, costs of doing business and volume discounting. (Think Home Depot, Wal-Mart, etc.)
“Custom” products or services will allow you to focus on a profitable niche. Keep experimenting using trial and error to match your interests, talents, skills, natural resources and experiential knowledge.
Look for the “edge” that you have by exploiting new opportunities as they appear. As a small business, you have the luxury of making decisions quickly without the red tape of bureaucracy.
Keep evolving until you formulate the right product or service at the right moment in time.