- July 14, 2016
- Posted by: nathanwebster
- Category: Consulting
Starting a company is easier to do than ever before. Fill out a couple of papers. Join a group. Become an entrepreneur. Live a life of freedom. Be your own boss. Work when you want. All great and sounds simple.
Here’s where it’s not so simple. Given the opportunity, what type of company would you start? What would you sell?
Stop reading. Take 30 seconds. Think about it.
As the mind processed what could work for you, the brain also focused on benchmarking against some of your potential competition. You were thinking about those phenomenal companies. Which ones? You might say “I have no clue.”
Every company creates a special memory both in our heart and mind. Your mind immediately went to the best organizations that treated you well or possibly not. Doesn’t matter which industry. You thought of the companies who’ve impressed you the most, or organizations that suck.
That’s called brand.
Having the right brand produces benefits, such as:
- consumer spending
- customer loyalty
- savings in marketing costs
- membership lists
- public recognition
- positive cashflow
A brand is a company’s symbol of your experience. Everyone has their own unique story. From big to small, startup or corporate, niche or mass, every company is responsible for owning their brand. Another way to think of it is as a settled way of non-paid marketing with still invoking action.
Every marketing campaign is a call to action. Some groups do it better than others. If done well, the marketer would have completed the desired results of the company. Hence, “x” company wants you to do these three things:
- Get your attention.
- Focus on them.
- Follow their instructions.
Those groups you thought to have a great brand presence have paid for it. It doesn’t matter if you shop there or frequent their location, you know who they are and what they do. That’s called brand awareness. Maybe even if it’s a person providing a service like a pop singer. They still have had to establish not only their product but create an individual experience for their consumers.
First, it starts with a great idea. Ensure the idea is going to work. Called, “proof of concept.” That idea needs to be monetized. Once the idea gains momentum in the marketplace, begin marketing and building the brand.
So in case I haven’t made it clear, let me just say it. Does your company have a brand? If you’re unable to answer that in three seconds, that’s a problem. Don’t fret, it’s a problem with an easy solution.
For example, look at the NFL (National Football League). At one time, the sport was behind professional baseball and basketball. They’re a billionaire dollar company. Their product is two teams in a competitive exhibition match. The product is done with 6-year olds. What makes them different, they monetized their brand.
Here’s another way to go about it. What type of experience do you want people to have while they use your product or service?By answering that question you’ll discover how to create your brand.
The NFL has done it by superstar athletes, using major cities, selling team paraphernalia, broadcasting on cable networks during all hours of the days and weeks, and on and on and on. To be a billion dollar company, you’ve learned how to get people’s attention and gain their support.
Ultimately, having a brand will be the difference maker from your competition. This is how you’ll stay in business, top of mind and generate repeat business. In order to create an unforgettable brand, it takes time and strategery.
No entrepreneur starts a business wanting to fail. Every startup group and/or founder wants to create a service or product that will be meaningful. This critical piece cannot be overlooked. It can’t be done overnight. Be intentional.
The brand needs to be remembered. Your brand has to resonate. Any great brand withstands the test of time. For any consumer undecided within a marketplace, their choice will be of familiarity. In other words, a brand that has given them a great first impression or experience.
Be that brand.
If you need help, click on the Move Forward image to the right. We’ll be happy to help you with your brand. As business strategists, that’s our specialty.
I write this because my business is personal because this service is for the advancement of all humanity. My failures and successes are for your gain. No strings attached.
Nathan A. Webster, MBA