Want to Land More Design Projects? Don’t Over-Expertize Your Expertise

OK, yes. We made up a word. So sue us! If it got your attention and made you want to learn more about how to land more design projects, we feel no shame. (Well, we don’t anyway, really. It is our blog, after all!)

Anyway, the point we’re trying to make is (and we mean this with all due respect), becoming an expert in one area does not make us expert in others, nor should it. Sometimes, the more we know about something the easier it is to take for granted that others – like prospects or clients – know something about it too.

To put it another way, our familiarity with a subject need not breed contempt. But rather, the more we know the more likely we are to assume what our target audience knows. This can be deadly when trying to close a deal. In fact, there may be no quicker way to kill one.

Like Attracts Like (Not including clients)

It’s human nature and should come as no surprise, that those with similar interests find comfort associating with each other. Interior designers and furnishing suppliers tend to hang together. Salespeople with salespeople, marketers with marketers. Whole industries can become exclusive and the subjects of discussion among experts climb to higher and higher levels.

But, what happens when you're thrown together with a group of laypeople; or just one, a potential client?

Prospects will commonly express a desire but, because they lack the knowledge to make it happen, they look to an expert. In the internet age, they’ll go online to search for info but surely need more. (Often, what they find will be just enough to make them dangerous – to themselves.)

That is where you come in. And, that is where your experience, and your respect for them and their efforts to learn, will enable you to deliver a message that will resonate with them – and help you land more clients.

The key to successfully landing more projects in such a situation is to remember this… The fact that you know the benefits of a home renovation, or how the features the furnishings you suggest will make your ideal client’s life better, does not mean that they do.

Only Be an Expert When Necessary

Ultimately, you really can’t “know too much”, you just need to always be mindful that many people will know far less. And never forget, it’s your job to help them learn what they need to make an informed buying decision.

The fact that you're the one who taught them should take care of the rest.

Ted remains available to work with you on a case-by-case basis with business consulting that is targeted to your needs and goals. With more than 25 years of experience in the luxury furnishings and interior design industries, he has pretty much seen it all. So, if you're ready to work with a professional business consultant who can help you land more design projects… Get in touch with TD Fall today.

Good News for Q2 2021 – Optimistic Design Project Predictions

Compared to the same time last year, the good news for designers is not found in optimistic design project predictions for the second quarter alone. No, even better, there are actual, positive numbers to support such an outlook.

According to the most recent Houzz Renovation Barometer, “architecture and design firms saw a significant increase in recent project inquiries and [newly] committed projects in January, February, and March. Their score for the Recent Business Activity Indicator of the Barometer increased to 75, an 11-point rise from the prior three months and the highest level recorded since the launch of the Barometer in Q4 2014. Relative to the same period a year ago, the indicator is up 31 points.”

When Bad News is Good News

So, while the most recent Houzz Barometer “reveals continued confidence among remodeling professionals for home renovation activity in the second quarter of the year”, that’s not enough for us. We want proof that things are improving!

Ironically, that proof can be found in what we would normally consider a couple of negative business metrics: project backlog stats and increased project wait times. In other words, “Surging demand for new residential construction and design projects has resulted in a backlog, with wait times of more than two months to start new midsize projects – about double the wait compared with this time last year.”

While backlogs and wait times vary by region, “The Project Backlog Indicator for architectural and design firms averages 8.4 weeks nationally at the start of the second quarter of 2021, up 2.8 weeks compared with the start of the first quarter. Compared with a year ago, when wait times were 3.6 weeks, wait times are up more than a month (4.8 weeks).”

“Compared with the same quarter a year ago, backlogs have almost tripled across all nine census divisions as reported by architecture and interior design firms.”

If your design business has yet to experience a similar surge in new projects this year, Ted is available to work with you on a case-by-case basis with tips to help you grow your business.

With more than 25 years of experience in the luxury furnishings and interior design industries, he has pretty much seen it all. So, if you're ready to work with a professional business consultant who can help you grow your business with reachable goals… Get in touch with TD Fall today.

Goal-Setting Tips – How to Set Realistic Business Goals

After the debacle that was 2020, setting goals for your business has likely been difficult in the extreme. Now, as we move through mid-spring 2021, it might be a good idea to pause and consider the things we’ve done for our businesses so far this year. After all, according to the latest statistics, fewer than 10% of people keep their resolutions each new year; with 45% failing to reach new goals by the end of January and some 80% giving up by the time March rolls around. This leads us to wonder which goal-setting tips might work for setting realistic business goals.

Have you given up on the business goals you set for this year? You're not alone!

Far too many business owners set either vague or unrealistic goals for themselves, their teams, and their business, making them difficult to achieve. Setting a vaguely worded goal like  “I want to sign more clients this year,” is too ambiguous to capture the imagination, energy, and focus of your team.

If you make your business goals more focused and specific, such as “We will close 50% of all our client projects this year,” it will be far more productive. It’s clearly worded and concise – and it’s also measurable. A goal that cannot be measured will rarely, if ever, be met.

Well-defined goals get met, Ill-defined goals do not.

And so, with all of that in mind, we offer a few things to consider about the goals you’ve set for your business, your team – or yourself:

• Are the goals you set this year narrowly defined and specific?

• Are the goals you set this year attainable and realistic?

• Are the goals you set this year tailored to the talents and skillsets of your team members? (Or yourself?)

• Are the goals you set this year an actual benefit to your business – and your team?

Goals that are ill-defined or patently unrealistic do no one any good, least of all you. You see, poor goal-setting reflects just as poorly on you as a leader and frustrates your team because they’re unreachable. You will be perceived as either impractical or ill-equipped for the job. Both of these impressions will undermine your authority and make it difficult for others to perceive you as an effective leader.

If you're experiencing high turnover or indifference in your team, this may be the reason.

Incremental Goal-Setting Tips

The best goal-setting tip we can offer is to put together a progressive list of goals for your team to aim for, such as, “I will close 50% of all of my clients this quarter, 55% in the next quarter, and 60% in the next quarter …”, and so on. This will keep every member of your team focused on growth and personal improvement and, once again, their performance toward their goals is measurable.

And so, we say again, the numbers must be realistic and, as we also say again, specific goals such as these will be much more valuable to you, your business, and your team than some vague notion of “getting better.” If you truly want your team and your business to “Get Better,” help them set goals they can actually achieve – with goal-setting for success as your goal for this year, the next, and beyond.

Ted remains available to work with you on a case-by-case basis, offering more goal-setting tips and business consulting that is targeted to your needs and, well… your business goals.

With more than 25 years of experience in the luxury furnishings and interior design industries, he has pretty much seen it all. So, if you're ready to work with a professional business consultant who can help you grow your business with reachable goals… Get in touch with TD Fall today.

Whether to Engage or Reengage Clients, that is the Question

On the one hand, there are innumerable online marketing experts who will tell you that you must engage prospects to convert them into clients. On the other, you have a significant number of experts claiming that you should reengage clients from the past because the return on investment (ROI) is greater from repeat business.

Both are viable approaches to marketing and it makes sense to pay attention to both; client acquisition and retention. But, reengaging a previous interior design client can be problematic. After all, a remodeling project is not exactly a once-a-week purchase for a homeowner. The same can be true for furnishing retailers; a high-end living or dining room set can last a lifetime. How often will your customers come back for more?

Yet, based on the latest research, designers and dealers will do themselves a favor if they can devise ways to retain or reengage existing and past clients. Why?

• New clients are 7x more expensive to acquire than keeping or reengaging existing or past clients.

• Probability of converting an existing customer is between 60% & 70%.

• Probability of converting a new client is just 5% to 20%.

• Repeat clients spend an average of 33% more than new clients.

• Repeat clients are 60% to 70% more likely to buy an up-sell.

Finally, a general rule of thumb in business is that 80% of your future profits are most likely to come from 20% of your existing customers. These are just a few of the reasons that re-engaging and working to establish customer loyalty is critical to the growth of your business.

Re-engaging Past Design & Furnishing Clients

As mentioned above, people who invest in luxury furnishings expect them to last for generations. In addition, when an interior designer is contracted to complete a home improvement project, their clients don’t expect to need them again in a few weeks’ time. These are serious challenges for both when trying to reengage with clients.

The key to success here is to first, know your client base; and second, you must get to know individual clients as intimately as possible. Homes have more than one room to reimagine or furnish and, while it may seem obvious in the abstract, offering a “next steps” approach can offer a significant ROI.

For example, once you’ve finished a kitchen makeover, what’s to prevent you from asking your design client how they feel about their dining room, living room, or master suite?

Or, if you deal in luxury furniture, why should you avoid making a pitch to upgrade other rooms in your customer’s home once you’ve delivered that beautiful new bedroom set? How many more rooms might you furnish in the average home – half-a-dozen?

And don’t forget (please don’t forget), there are tens of thousands of people who've been forced to work from home in the past year or so. How many of your previous clients have you been in touch with to see if they need help putting together a comfortable, workable home office?

Your answer should be – all of them!

How Can We Help?

Of course, there is no way we could possibly outline every circumstance in which you could reengage with past clients. That’s not the point of this post. What we are trying to do is encourage you to think about how you might take a past relationship to new levels, while also not forgetting to engage with new prospects.

It's a tough job, but someone has to do it. And, that someone is usually going to be you!

Ted remains available to work with you on an individual basis, consulting on how you might best engage or reengage with your design and furnishings clients.

With more than 25 years of experience in the luxury furnishings and interior design industries, he has pretty much seen it all. So, if you're ready to work with a professional consultant who can help you become one of those agile entrepreneurs our changing world demands, feel free to… Get in touch with TD Fall today.

Luxury Furnishing Lead Times (Can we say current lead times suck?!?)

What’s the number one factor you consider when choosing a luxury furnishing supplier right now? While it used to unquestionably be quality, feel, and/or looks, the emphasis has shifted to availability for many, if not most, designers and retailers. In other words, luxury furnishing lead times have become a singular priority for a majority today.

As explained in a January article at BusinessOfHome.com: “It’s no secret that lead times are stretching ever longer as COVID drags on – and that many clients are getting impatient. The delays have cut across categories, from bespoke upholstery to tile and kitchen appliances; even many of the quick-ship retailers [and wholesalers] can no longer deliver on tight timelines.

“Shutdowns of the manufacturing floor with the onset of COVID instigated an initial round of delays, which were compounded by a slow return to production as companies navigated new safety protocols. More than one year later, many major manufacturers still aren’t staffed at full pre-pandemic capacity, which makes it much harder to catch up on the backlog.

“And every time an employee tests positive for COVID, many more workers with whom they came into contact are sent home to quarantine, which only exacerbates the delays. Add soaring freight costs and a scarcity of raw materials (plus a shortage of containers to ship them in) and it quickly becomes clear that this is a mess with no easy answers or antidotes.”

It goes without saying that lead times have always been an issue in the luxury furnishings industry. Whether products were produced on the other side of the globe or were made by hand in an artisanal house locally, delays of weeks became the norm. Today though, lead times for all types of furniture, not just for the category of luxury furnishings, have exploded into months.

Where to Go for Reasonable Delivery Lead Times

What does all of this mean for you and your interior design or furnishings business?

While it may be “Kewl!” to work with the newest or trendiest line, a small house that creates unique designs, there are times when you are far better off working with the Big Boys (or Girls) instead. Stated simply, the larger brands and manufacturers have the infrastructure to cope more effectively with world-changing events.

For example, Kravet is known as the industry leader for a variety of reasons, most of which have little to do with them being more than a century old and being the Biggest of the Big Boys.

Beyond those, they truly have their house in order and possess the logistical know-how and experience to provide you with outstanding service while others struggle (and frequently fail) to deliver products in a timely fashion.

Right now, Kravet is only running a few weeks behind their normal production. In fact, their QuickShip frames, which normally would ship in two weeks, are shipping in 15 working days. All other frames, which normally ship in eight weeks, are currently shipping in 10-12. There are some caveats and disruptions but the customer is always kept informed!

Of course, the fact that all Kravet SMART frames and fabrics, which are the foundation of the QuickShip program, are guaranteed produced right here, in the USA, is a sheer genius when it comes to quicker than average lead times.

Get in Touch with TD Fall Today

In short, if you're searching for reasonable luxury furnishing lead times, TD Fall and the Kravet family of brands we represent just may be the answer you’ve been looking for.

Ted remains available to work with you on an individual basis, consulting on how your business can best respond to the shifting demands of the marketplace, and the needs of your design and furnishings clients. Get in touch with TD Fall today.

The Well-Tailored Addition of Donghia Furnishings from Kravet

Iconic designs with an Italian flare from a purely American company. Is such a thing even possible? Well, when the industry leader to-the-trade gets involved, of course it is! And so, for those yet to know, we are happy to announce that as of last summer the Donghia line of fine furnishings has become the latest member of the Kravet family of brands.

The acquisition included the Donghia brand name, the company’s intellectual and digital property, its designs, archives, and all current inventory. Never a design house willing to rest on its laurels, as evidenced by the addition of heritage textiles brands like Lee Jofa, GP&J Baker, and Brunschwig & Fils over some 25 years, bringing Donghia into the Kravet family was something of a “no-brainer”.

As president of Kravet Inc. Cary Kravet said in a statement, “The Donghia brand is distinctive and enduring. It stands for the inherent beauty in clean lines and the appreciation for impeccable quality in materials and construction. The Donghia aesthetic and brand market position are fully complementary to our current brands and aesthetic positioning. The look and attitude are wholly additive for us.”

Why Donghia Furnishings? Why Not!

The Donghia tag line, “Live a well-tailored life” is merely a hint at the innovation and quality to be found in the fabrics, furnishings, and wallcoverings from Donghia. Founded by Italian American interior designer Angelo Donghia in 1968, iconic Donghia collections have consistently reflected a dynamic and innovative approach to design. In a stunning fusion between handcrafted workmanship, modern looks, and trendy designs, the collection includes textiles, furniture, wallcoverings, case pieces, accessories, and upholstery.

According to Kravet, the hurdles to bringing a reimagined Donghia line to market are less about logistics and more about the brand and product development. “Believe it or not, [the integration] is the easy part. The hard part is the softer side – understanding what the brand is and where it should go. That takes a lot of thought, communication, research, and understanding.”

As a result, the relaunch will take time. Kravet says that the company’s first Donghia collection will likely focus on the brand’s most iconic patterns and pieces; a release that can be folded into existing showrooms while a more robust revamp is developed. (BOH.com)

Over the years, Donghia produced fabric, wallcovering, floor covering, furniture, lighting, and accessories; all product lines Kravet ultimately plans to develop and relaunch. The company also acquired Donghia’s archive, including some of its late founder’s sketches and original furniture prototypes. These will all be folded into Kravet’s deep archive at its headquarters in Bethpage, New York, and which will inform the work of the product development team.

Our Continued Commitment to the Luxury Furnishings Industry

Kravet remains committed to supporting and expanding the luxury furnishings and design industries, just as we do at TD Fall:

“We’ve been in this business for over a hundred years, and we really believe in this industry,” says Kravet. “There’s no real short-term advantage in this [acquisition] – it’s a long-term strategy. This is part of our belief in the strength of this industry.”

Get in touch with TD Fall today to discover more about this traditional yet innovative line.

New Line from TD Fall – Lily Koo Luxury Furnishings

We’d like to share some very exciting news today about a new line from TD Fall! New for 2021, TD Fall has acquired the rights to represent the Lily Koo Furnishings line. From beds and headboards, myriad seating solutions, chaise lounges and ottomans, tables and desks, amazing mirror designs, accessories, and more, the line is fully integrated, imaginative, and compelling.

While relatively young by some standards in the furnishings industry, the Java-based furniture atelier was founded in 2010 yet has made a lasting impression in the luxury furnishings marketplace. Influenced by the classics and reimagined for today’s contemporary interiors, Lily Koo’s innovative designs showcase the renowned artistry of this stunning Indonesian island paradise.

Drawing on years of industry experience, Lily Koo is committed to ensuring consistent product quality and continuous innovation that is focused on long-term sustainability and growth. Strict quality control systems allow the highly skilled staff to monitor each piece through completion, ensuring consistent high-quality products that are built to last for generations to come.

Introducing Lily Koo Furnishings from TD Fall

Lily Koo's designs bring a classical feel to contemporary furnishings. Their accomplished in-house designers, engineers, and craftsmen are committed to creating high-quality products aligned with current trends that will match your client’s needs and aspirations.

Lily Koo furnishings begin with the Design Team which envisions and curates designs that are chosen for their compelling style, comfort, and function. Next, the Engineering Team translates that vision into physical form, focusing on intricate design details and durability. Finally, the highly skilled craftsmen at Lily Koo meticulously hand carve and apply stains, metal leaf, and lacquer finishes to accentuate the beauty of the wood and carving detail in each piece. Working together, they bring Lily Koo’s innovative designs to stunning life.

Lily Koo is and has been committed to creating attention-grabbing and imaginative luxury furnishings that will have your clients wide-eyed with admiration and eager to see them in their homes. Just that little bit different, yet traditional enough to appeal to a broad client base, the creativity expressed in the Lily Koo line of luxury furnishings may be exactly what your next client seeks.

Get in touch with TD Fall today to discover what’s possible with this stylish, trending luxury furnishings line.

Shifting Priorities – Business and Personal Focus and Values are Changing

Lives and livelihoods have been lost during the 2020 pandemic, and it has yet to fade into the background. As a result, shifting priorities can be expected among your clients, associates, and partners, whether business-to-business or business-to-consumer.

On a personal level, work/life balance has become more important than ever. Relationships, in both the personal and business arenas, are being prioritized by an increasing majority as interpersonal interaction has suffered from the rules for social distancing.

For many, once important pastimes have become trivial; with things such as fashion, social status, and even ideological convictions seeming far less crucial than in pre-pandemic times.

As shared in an article from The Guardian, professor of history and philosophy at the University of Paris Justin EH Smith made an interesting observation about life in quarantine.

“Any fashion, sensibility, ideology, set of priorities, worldview or hobby that you acquired before March 2020, and that may have by then started to seem to you cumbersome, dull, inauthentic, a drag: you are no longer beholden to it,” he writes. “You can cast it off entirely and no one will care; likely, no one will notice.”

And there we have the crux of the matter… “no one will care; likely, no one will notice.”

Except, the clever business owner MUST care and notice if she hopes to prosper in a world where “Nothing is the same as it used to be”, a declaration made by author Michelle Russell at pcma.org.

Individual Priorities are Trends for Businesses

Of course, on an individual level, the changes are usually highly personal, while businesses are responding to broader shifts, as they always tend to do, as a matter of course. After all, the larger the business the more they are forced to respond to changing general trends rather than shifting individual priorities.

In a report published by MIT, titled Amid the covid-19 pandemic, shifting business priorities, we discover that “Organizations are reshuffling projects and accelerating investments that were already underway, leaning heavily on technology to stay competitive.”

Further, “The pandemic is shaking up corporate priorities rather than introducing new ones. Nearly three-quarters (72%) report that covid-19 has acted as a catalyst to their companies’ innovation, but fewer (53%) have changed their technology roadmaps substantially.”

Some key points from the report include:

• Nearly two-thirds of survey respondents expect covid-19 to disrupt the way their companies innovate.

• Businesses are building new capabilities and ecosystem partners and automating as much as possible.

• [Normally slow-to-respond large organizations and] businesses have learned how quickly they can adjust when they have to.

These shifting priorities include: improving productivity, improving customer experiences, and improving the employee or agent experience.

Targeting Shifting Demographics

What does all of this mean for small business owners and entrepreneurs?

It should go without saying but must be reinforced, that when your target audience shifts their priorities, your response – or lack of response – will determine your level of success (or lack thereof).

Resilience and versatility are two of the greatest assets you have as an entrepreneur. Putting those qualities to use in response to your client’s shifting priorities will no doubt be a requirement moving forward, whether during or post-pandemic.

In fact, beyond a change in priorities, you should also expect to see a shift in values; the very principles and standards by which individuals choose to live and do business. Literally, for many, they are responding to a shifting world view that has altered their perception of the nature of life. There is probably nothing that can shift priorities as dramatically for them, and you will need to be empathetic toward their needs at all times and in ways you may not have imagined, pre-pandemic.

Ultimately, the ability to build and sustain relationships will be the saving grace of entrepreneurs and small business owners. By staying focused on the needs of your clients as individuals, you will be able to adapt to shifting needs more quickly and with greater elasticity.

In other words, you are going to need to be empathetic and holistic in your approach to serving the needs of pandemic-damaged clients. For that is what many of them will be; fearful, angry, resentful, damaged human beings who need your support and understanding.

Ted remains available for business consulting support to interior designers and furnishing store owners. With more than 25 years' experience in the luxury furnishings industry, he can answer questions about everything from general marketing to specific tips for developing a unique selling proposition and your UVP as the foundation and guides for your marketing strategy… Get in touch with TD Fall today.

Your Elevator Pitch Keeps You Ready for Unforeseen Opportunities (and those you expect)

Imagine for a moment you're attending a business conference and you suddenly find yourself in a one-on-one encounter with one of the “Sharks” from the popular TV show Shark Tank. Imagine further that, after you greet them, they happen to ask what you do for a living. Would you have a quick, clear answer ready to go? What if you had a solid new product idea and were the conference looking for an investor? Here you are, with one of the most curious angel investors in the country right in front of you and, without your elevator pitch ready to go, you have to wave goodbye and look for an investor elsewhere.

That is a missed opportunity. Will you be ready next time?

Granted, the scenario described above is unlikely for most of us. However, in business and life, unforeseen opportunities do crop up from time to time. There are also expected meetings where you may have a chance to promote yourself and your business. While they won’t all be opportunities to “cash in” with shark-like investors, they could easily lead to new projects or referrals.

Being ready at all times, by developing and memorizing your elevator pitch, just might be the best tool you can carry with you every day.

Merge Your UVP and USP into Your Elevator Pitch

Now that you’ve spent hours sweating over your Unique Value Proposition (UVP) and Unique Selling Proposition (USP), we’re going to ask you to invest even more of your precious time and mental energy to create your elevator pitch.

Again, let’s define our terms. An elevator pitch is a “short, yet effective speech should be the most stellar speech that you can give to promote your company, your expertise, and your purpose within your industry.” (ClearVoice.com)

In other words, if we go back to the Shark example and put you in an elevator with one of them, could you clearly describe your business, your vision, and your goals in the 45-90 seconds it might take to reach their floor?

THAT is why we call it an elevator pitch. It’s a tool you can use to generate interest in what you do without taking up too much of the other person’s time.

“Your elevator pitch is a way to share your expertise and credentials [as well as your vision] quickly and effectively with people who don't know you.” (BalanceCareers.com)

It works whether you're looking for a job, seeking a business partner/investor, or trying to turn a prospect into a client.

Why You Need an Elevator Pitch

Why are they important – and effective?

An elevator pitch is especially effective when you're talking to a stranger or new contact who asks, “What do you do?”

“In situations like these, you need a short, snappy, easy-to-grasp explanation of your company and its products [or services]. The person you're speaking with might turn out to be a perfect fit – or know someone who is.” (HubSpot.com)

However, to be clear: “An elevator pitch is never an opportunity to close a deal. It's an opportunity to close more of your prospect's attention and time. It's a quick introduction to you, your company, and how you can help your prospect.”

You need to think of your elevator pitch as an attention-getter. It should be engaging and friendly, without trying to “make a sale”. Rather, your goal should be to generate interest and to get more of your prospect’s curiosity, time, and attention.

According to HubSpot, your elevator pitch should include:

• Who you are

• What your company does

• Your unique value proposition

• Your unique sales proposition

• Your vision

If you can do all of these things in 30-45 seconds (or 90 seconds max), you are sure to get their attention and generate interest. Once you create a pitch you think is worthy of use, you’ll need to read and re-read it, then edit the pitch. Then, you’ll want to practice it incessantly, in front of others, and a mirror, until you have it memorized but can deliver it as if you’ve never said it before.

You want your elevator pitch to flow, to seem natural and off-the-cuff, rather than rehearsed and/or overused. Keep it fresh. Make it pithy. Always make sure it accurately reflects what you do.

Ted remains available for business consulting support to interior designers and furnishing store owners. With more than 25 years' experience in the luxury furnishings industry, he can answer questions about everything from general marketing to specific tips for developing a unique selling proposition and your UVP as the foundation and guides for your marketing strategy… Get in touch with TD Fall today.

Developing a Unique Selling Proposition as The Foundation for Your UVP

Should we have offered this information about developing a unique selling proposition (USP) before our post about creating your UVP? Maybe, but then, where would the mystery have been – the burning question we left you with that got you to come back and look for more?

Pretty sneaky, huh? (Sorry, not sorry!) LOL

You see, this is all part of our strategy to hook you on our series of posts on marketing your design business more effectively. We figure that, in the face of the pandemic and its eventual aftermath, a return to marketing basics has value for you and we hope to be able to provide that. Of course, if you need more individualized attention, Ted is available for business consulting support to interior designers and furnishing store owners.

Now, onward and upward…

What Your USP Says About Your Business

Once again, we need to define our terms for you:

“A unique selling proposition, more commonly referred to as a USP, is the one thing that makes your business better than the competition. ... Your USP plays to your strengths and should be based on what makes your brand or product uniquely valuable to your customers. Being ‘unique’ is rarely a strong USP in itself.” (Shopify.com)

Yeah, that unique thing they mention is taken care of when you create your UVP, right?

Now it’s time for some cool graphics! (YAY!)

First, let’s just get our heads around the basic concept of what a USP really is. This graphic, borrowed from TractionWise.com, illustrates the concept in a clear and simple way:

For a more detailed look at the issues your USP must address effective, we borrowed this graphic from Medium.com:

As you can see, both of the images present an area where your offerings best meet the needs of your prospective client, while avoiding areas of risk or similarity.

When you develop your USP, you avoid areas of similarity with your competition because there is nothing unique to offer in your UVP. Areas of risk are avoided for the obvious reason that you may actually push your prospects toward your competitor by mistake.

In other words, the whole point of developing a unique selling proposition is to figure out and proclaim how you are different from your competition – not to mention BETTER.

Why It Matters

You see, while it may seem counter-intuitive, it’s a simple fact of life that not every owner knows what makes their business unique, different, and better than their competitors. Frankly, some of it is just ego talking (“If it’s mine it MUST be better!”). But, more often, it’s a combination of lack of time, energy, and knowledge.

By this, we mean that, often, there is just too much to take care of for a single entrepreneur to be able to get it all done alone. Something has to give and, too often, it winds up being market research into the competition. That lack of knowledge can make developing your USP and UVP more than a time-consuming chore; it can make them completely ineffective.

That’s why it matters so much because of the time and energy you invest in this kind of work must have a solid return. So, set aside whatever time you need to get them done right.

Again, Ted remains available for business consulting support to interior designers and furnishing store owners. With more than 25 years' experience in the luxury furnishings industry, he is able to answer questions about everything from general marketing to specific tips for developing a unique selling proposition and your UVP as the foundation and guides for your marketing strategy… Get in touch with TD Fall today.