Once you've established who your customers and competitors are, you can figure out what will set you apart from the competition in the minds of your customers. If there are five other businesses in your town that offer office administration services such as transcription, for example, how are you going to get the attention of your potential customers — what can you offer that no one else is offering? Maybe no one else handles overnight service on rush jobs, but you think that you can deal with the pressure.

Whatever it is that sets you apart is often referred to as your “unique selling proposition” or USP. Perhaps your chocolate truffles use only natural ingredients; perhaps all your daycare staff has early-childhood-education certifications — whatever it is, your USP will help your customers recognize why they should be buying from you and not from the other businesses. Remember: If you can't tell your product or service apart from the others out there in the marketplace, your customers won't be able to either.