Are you building a business or a brand?
Is there a difference? You bet.
Too many business owners have stopped at creating an income source and haven't thought about the potential to build a brand with enduring value.
Often the daily demands of business don't leave time for big picture thinking. More often, though, owners lack the tools to create a vision, uniquely define their brand and generate game-changing ideas.
A shame, because each of these is easily achieved.
So, what are you building?
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Jul 2, 2013
Although in my job I often try to help other small business owners develop their brand, many times I too get caught up in the daily grind of building and keeping my business afloat then I end up losing track of the bigger picture. Thanks for this thought provoking question.
Jul 10, 2013
Greg, you're right! It's very important to have a partner as I've come to realise that success is not a one man show. At the moment I'm still looking for one.
Jul 17, 2013
Finding the right partners for any project is an art in itself. I keep finding this problem over and over as I talk with business owners around Australia. I actually went as far as creating a free guide to identifying the best partners for a project onto a free innovation-sharing website (http://clubiq.com.au) created a couple of months ago. Best of luck in finding the right person to help you bring your big ideas to fruition.
Jul 2, 2013
Brian, you're not alone. As I talk with business owners - especially owners of SMEs - there's a recurring message: 'I don't have any spare time for big picture thinking.' I totally get it. We're all so busy with staff issues, inventory etc that we can't find time to work on vision, brand, innovation and the like.
I get a real buzz, though, when I introduce a simple technique then give them just 20 minutes to generate new ideas. They easily generate 20 ideas in that time. It shocks them every time.
Jul 3, 2013
Hi Greg ~
Not to toot my own horn, but this is precisely where someone with marketing/branding expertise can be invaluable. I've helped solorpreneurs define their business, mission, market and USP (unique selling proposition) from inception, which then influences everything from the business name and tagline to website messaging, brand-building approach, social media activity, etc.
Having a support team, even if that's just one or two people for a limited contract, allows a new business owner to grasp the big picture and then focus with laser precision on the details that will enable him/her to realize it.
Jul 4, 2013
Amara, you have identified the core problem. Most people have a business idea, get a local studio to do a logo, find a space and open their doors - without having a vision, or a clear definition of their brand's values, culture, attributes or audiences. They don't understand what business they're in (most are too narrow in their thinking) and therefore don't see the opportunities ahead. You're so right to get your clients to define these things first, THEN address brand ID, website etc.
Jul 8, 2013
And as we both know, this approach doesn't always work :-) Just last week had a prospect who operated as you describe. My questions led him to clarify what he wanted ~ but then he disappeared, perhaps to hire more of an "order taker" who'd simply create the brochure and not bring up so many uncomfortable branding/business building issues. Thanks again for such an insightful inquiry, Greg.
Jul 8, 2013
Amara, there'll always be clients like that. Although you spent time helping them - to no benefit to yourself - you really don't need them.
Jul 3, 2013
My goal is to build both. I am trying to show that our name, reputation in the industry and 12 year history of work is very important. We must continue to grow in sales volume, and profitability by using our past and present to help grow the future..
Jul 4, 2013
I like what you are speaking about here. As a graphic designer and brand builder, I find that many busy entrepreneurs want to do it all themselves. I truly believe in the collaborative experience. It isn't one + one = two it's more like one + one = TEN!
You are right on when you say that a business requires a brand. Break that concept down further... and there are elements, assets, graphic design and big picture considerations that are required to make it flow.
Thank you for sharing your thoughts!
To Your Continued Success!
Jul 8, 2013
Hi Greg
I'd say both the options. But digging more, I may move with only one option - Building a brand. I guess, building a brand would cover up the other co-factor "Business".
"A well built brand may have a list of business further down".
Jul 8, 2013
Sarah, a powerful brand can move anywhere - so long as it's consistent with the brand. Virgin has the freedom to move into any category - as long as that category is dominated by a mostly unpopular cartel: banking, telcos etc. Polaroid got stuck because they didn't have that freedom - and they defined their business too restrictively.
Jul 25, 2013
Well,my first option would be to build brand value. If you are able to build up your brand value, the income source will come automatically.
Jul 26, 2013
Digiora, you're right. There's a direct correlation between brand fame and company value. Almost without exception, the best known brands also happen to be the world's most valuable companies. The problem is that most of us are forced to focus on generating income - to pay rent and staff and suppliers etc. All we really do is cover costs. We're not building a brand with residual value - something that someone else will buy in the future.
Ademola, we all do it. I have done it. I still do it. It really does take a conscious effort to look beyond the bills, the deadlines and the daily issues. Do you have a partner who can keep you focused? That can be a life partner or a business partner, but someone who is there whenever we get distracted to remind us of our ultimate goals. I find that incredibly valuable.