Once you get into business and start meeting other business people, you'll quickly find that you're asked about what you USP is.
USP stands for Unique Selling Point, or in other words, what is different about your business that will make people buy from you instead of your competitors.
The best businesses will really have a completely unique USP that their competitors can't imitate, meaning they corner a section of the market that simply can't go anywhere else.
However, it's more common that businesses will portray a unique selling point that isn't actually unique at all - but is perceived as so. The key to this is to be the first to do it, and / or to do it more convincingly than your competitors.
A genuine unique selling point may be a unique patented design, which nobody is allowed to copy for some time, or it maybe a family secret recipe or simply a particular location.
More common unique selling points might be price (though competing on price can be a dangerous game), quality or customer service - though obviously these are harder to prove and arguably not unique.
Some businesses come up with something completely original such as being the only ethical player in the industry, the only one to make the product completely out of soap or the only one to deliver a bunch of flowers with every order.
Read more about what it takes to be an entrepreneur on Chelsea Singh's site.
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