Skip to main content
  • Claims Center
  • Contact Us
  • Español
  • Brokers & Agents
Hiscox Insurance
Menu Toggle
  • Home
  • Small Business Insurance Toggle Menu Toggle Menu
  • Why Hiscox Toggle Menu Toggle Menu
  • Resources Toggle Menu Toggle Menu
  • Policy Management Toggle Menu Toggle Menu
  • Claims Center
  • Contact Us
  • Español
  • Brokers & Agents
  • About
  • Get a Quote Get a Quote
  • About
  • Get a Quote Get a Quote
  • Blog Home
    Start Your Business
    Grow Your Business
    Protect Your Business
    Celebrate Courage
    Search

    Twenty-Four Seven

    Sign up to get the latest small business news delivered right to your inbox.
    Close Close
    Grow Your Business
    March 27, 2014
    black background with Hiscox written in white letters

    Create a Value Proposition that Differentiates Your Business from the Competition

    Management | Marketing
    By: Hiscox Blog

    Share Image

    Embed Image

    Copy

    Share Article:

    Guest blogger Michael Zipursky shares tips on how to define the value your business offers to attract customers.

    Michael Zipursky, CEO of Consulting Success, shares tips on creating a value proposition for your small business brand.

    Within the last 14 years, I've worked with over 15,000 consultants helping them to land more clients through my business – Consulting Success. Consumers and corporate buyers have more choices today than they've ever had before. While that's great for them, it poses a challenge for you, the small business owner or consultant. How can you position your business so that you’re seen as the best choice? One of the most powerful ways to answer this question is with a value proposition.

    What is a Value Proposition?

    According to Wikipedia, a value proposition is "the promise of value to be delivered and the belief from the customer that value will be experienced."

    In simpler terms, a value proposition is a statement that conveys "Here is why you should buy my product or service."

    Four Reasons You Need a Value Proposition

    There are four main reasons you need to have a well-crafted value proposition

    1. It helps you to get the attention of your ideal buyer.
    2. It sets you apart from your competition.
    3. It makes you the obvious choice in your marketplace.
    4. It positions you as an authority and expert that people want to buy from.

    The Good vs. Bad

    Let's look at some specific examples of value propositions and compare what separates the good from the bad.

    Gordon Graham, (www.thatwhitepaperguy.com) has a great value proposition located at the top of his website. What makes it great? It's specific. He clearly communicates who his ideal client is (B2B technology firms), what he specializes in (writing compelling white papers), and the benefit that he provides (get more leads, buzz and sales). 

    To start, where is their value proposition? There is no clear statement that pulls the reader in. "White Papers that Grab Reader Attention," is that it? How about "No brochures or websites. Just great white papers!"? Both of these statements simply describe what this company is offering. They don't describe who their ideal buyer is or suggest what makes them a better choice.

    Drop the Slogans

    A value proposition is not a slogan. This is common mistake many small business owners and consultants make. They believe that because Nike says "Just Do It" and McDonald's has "I'm lovin' it" that they too can use a short and cute statement. That doesn't work, here's why...

    Billion dollar companies spend millions of dollars each year on advertising and branding campaigns. People know who they are and what they do.

    As a small business owner or consultant, you don't have that luxury. You're not a household name. Because your value proposition is often the first thing your buyer encounters (whether on your website, brochure or even when you introduce your company in person), it needs to be clear. It must communicate a) who your ideal buyer is and what you specialize in; b) the result you produce and the benefits you offer; and c) why the buyer should choose you over the competition.

    How does the value proposition for your small business stack up? Do you even have one, and can it be improved? If your business offers great value to the market you serve, it's time you communicated that with a value proposition that positions you as the preferred choice.

    Michael Zipursky is the CEO of Consulting Success (http://www.consultingsuccess.com). A consultant for over 14 years, Michael’s work has helped over 15,000 consultants land more clients, increase their fees and become more successful. His work has been featured in MarketingProfs, Huffington Post, Maclean’s, Fox Business and Financial Times.


    Protect Your Business

    Protect the business you’ve worked so hard to build. Get a fast, free quote and your business could be covered today.

    Get a Quote
    Get a Quote
    Subscribe to our newsletter

    Related Articles

    3 Min Read
    Asian American or Pacific Islander small business owner available resources and opportunities

    Can your AAPI business take advantage of these opportunities?

    Finances | Management

    If you are an Asian American or Pacific Islander small business owner, you should know about these resources and opportunities that are available to you. 

    Read More

    4 Min Read
    what small business owners think about hiring staff

    Insider Research: See small business owners' perspective on hiring

    Small Business Insights

    Insider research: Hear what Hiscox customers have to say about hiring , and what prospective employees are looking for.

    Read More

    4 Min Read
    Team building, boosting morale while remote working

    5 simple ways to boost morale of remote workers

    Management | Small business inspiration

    Whether working from home is a permanent shift in your workforce strategy or not, here are some tips on keeping team morale up and infusing your company culture into everyday virtual interactions.

    Read More


    We’re here to help.
    We provide tailored insurance for the specific risks you face, so you can take the right risks to grow your business.
    Get a Quote
    Get a Quote

    Footer menu 1

    • What We Cover
      • Business Insurance
      • General Liability Insurance
      • Professional Liability Insurance
      • Errors and Omissions
      • Cyber Security Insurance
      • Workers Compensation
      • Other Coverage
    • Who We Cover
      • Small Business Owners
      • LLC
      • Sole Proprietors
      • Entrepreneurs
      • Side Hustle
      • Contractors
      • Home Businesses
    • For Our Customers
      • Refer a Friend Program
      • Covid-19 Response
      • Claims Center
    • For Business Owners
      • Save with our Partners
    • About Hiscox
      • About Us
      • Careers
      • Contact Us
      • Hiscox Corporate
      • Investors
      • Foundation
      • Newsroom
      • We Stand Together
      • Affiliate Partner Program

    Footer menu 2

    • Accessibility
    • Site Map
    • Privacy Policy
    • Terms of Use
    • Legal Notices
    • Español

    Feefo Reviews: Hiscox rated 4.8/5 with 1,926 reviews between January 1, 2021 - January 1, 2022

    © 2022 Hiscox Inc. All rights reserved. Underwritten by Hiscox Insurance Company Inc., 30 N. LaSalle St., Suite 1760, Chicago, IL 60602. As of December 31, 2021, HICI had admitted assets of $1,250,758,353 and policyholders surplus of $332,792,666. Total liabilities were $917,965,687 (inclusive of $433,752,764 of loss reserves) and paid-up capital stock was $4,242,000.

    icon-facebook
    icon-youtube
    icon-twitter
    icon-linkedin