Brand Matters even when you’re small – you still need a BIG BRAND.
I love watching Shark Tank – I get a kick out of seeing how much some of the entrepreneurs value their brand. They inflate the value their company (not based on sales) – but because of their brand. Some can be a little unrealistic – but hey, at least they know brand matters. Your brand can be one of the most valuable assets your company has. So how do you get that value you’re looking for – well it doesn’t happen by accident. You’ll need to do some homework and analyze your market – and create a strong brand strategy to get an edge over the competition. Even if your a sole proprietor a strong brand can make a huge difference in your business success.
Brand matters – it’s a promise to your customer. It’s what people expect from your business, it’s built from who you are, your aspirations, and how others see you. Your brand needs to be built around the wants & needs of your customers.
Getting Your Big Brand
Defining your brand is an art and discipline of business self-discovery – it’s not easy, will require some research, so you can reach your Big Brand Idea.
Once you understand, can clarify, know your positioning and brand essence – you’ll be able to get to a “Big Brand Idea” for your business – and now you can start building around that big idea. The what, when, where, and how you communicate, are all part of your brand strategy. As you implement your strategy remember: the key to a strong brand is consistency – which leads to stronger brand equity – which leads to added value for your products and services. Now that’s where you get the big payoff!
NOW – get your brand working for you!
Don't underestimate the power of your brand – it really does matter.
If you take the time and pay attention to your brand from the start, continually build & strengthen – you too could be one those businesses that says “your brand is worth millions!”-that’s a great feeling – when you’re trying to run a business.
There’s tons of resources around building a brand for your business, I would recommend Lynda.com as a great place to start. They have a hour and a half video on Brand Fundamentals that provides a framework for branding, and teaches how to develop and launch a brand and measure its success.