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Next Avenue: Answering this one question is critical if you want to start a business

This article is reprinted by permission from NextAvenue.org. It is part of the America’s Entrepreneurs Special Report.

Many people in their 50s and 60s who’ve worked for someone else their entire careers start thinking they’d rather be their own boss. Maybe you realize you can earn more as a consultant. Or you want flexible hours to care for family members. Or you’d like to help your grown child get an idea off the ground, starting a business together.

Whatever reason you have for starting a business, it’s crucial to create a unique value proposition, often called a UVP. A UVP clarifies what your business stands for, who it is designed to help and how it sets you apart from your competition.

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