Tag Archives: Business Model

Brand Strategy for Entrepreneurs

Smart entrepreneurs know that a good brand will help build their organization. They recognize the value that a strong brand strategy adds, and they make the effort to do the right things right.

I’ve met countless entrepreneurs with big plans. I’ve had the privilege of working with some great people, and seen a number of projects go from scribbles on a napkin to thriving reality. These projects are exciting and challenging, and it’s a thrill to be involved.

I’ve also seen plenty of dreamers—people with more passion than plans. It’s disheartening. These projects are challenging, too, but not because the work is hard. Instead, it’s just that the gap between capacity, reality and need is just too great for anything I contribute to be effective. It’s not that the idea is bad or the person is incapable. It’s just that they aren’t ready for the reality of being a successful organization, let alone a thriving brand.

As a consultant, I want you to succeed. It’s not only good for your business and our future relationship; it’s more satisfying work. There are a few things that I look for that gives me the confidence we are set-up for success:

I get excited when you have more knowledge about your business operations than I do. You bring more than an idea to the relationship. You understand the basic model behind your success, and you are focused. I bring brand knowledge and strategic objectivity—and often a fresh way of looking at things—for how you tell your story. But you have the passion and the expertise that will grow the business behind the brand.

I get excited when you know your budget. Talk of money doesn’t scare you, and you understand what cash flow can and can’t do for your vision. You know how much money you plan to earn; you know your fixed expenses and costs of your product; you know how much a typical business like yours makes and you’re prepared to invest in your success.

I get excited when you are well aware of your competition. Not just who they are, but why their customers love them. You’re competitive, not arrogant. You have a respect for the market that exists and you understand how your offer makes it better and different, or at least you’re ready to explore opportunities.

I get excited when you are more passionate about your vision than I am. Perhaps you can’t articulate it clearly—that is why you called me, after all—but you have a purpose that drives you. I get excited when I am the one bringing you back to reality rather than trying to bump you out into the stratosphere.

Most importantly, I get excited when it’s clear you want to work hard to create an experience that will captivate your audience. You reject the notion that you could compromise your values and cut corners on your brand execution since “its just the creative stuff, anyway.” You’re well past the idea that your brand is a defined by a slick logo or a catchy advertising. You know that your brand is at the foundation of your culture, your value proposition, and the experience you promise everyone—your brand captures everything that you want people believe about your organization—and it’s important enough to get your focused attention.

This is how I know you’re ready to do what it takes—not just what is fun and easy—to build a brand that will thrive. You’re smart; you’re committed; you’re realistic; you’re passionate; you’re a leader. This is how I know that you’re set up for brand success.

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Be good to be great

Success is found in a simple equation: a good business model plus a strong brand strategy will thrive.

As part of that equation, I will be the first person to tell you how important it is to have a solid brand strategy. I believe any organization in any industry can benefit from being proactive and strategic with their brand. No exceptions.

I will also tell you that a good business model could still be successful without the support of a compelling brand strategy. As much as it pains me to admit it, there are plenty of organizations that succeed regardless of how clumsy, disorganized or just plain bad their brand appears. The team works hard (probably harder than they have to), and they are able to hold enough relationships to support a business. It’s not pretty, and it’s not easy, but it works for them.

The opposite, however, is not true. Even the best brand execution won’t save an organization with a poor model behind their operations. It doesn’t matter how much attention or love or enthusiasm the brand generates; if the organization can’t function effectively, it’s doomed. If the organization doesn’t generate interest and deliver value—whether that’s revenue, donors, supporters, or attention—it simply isn’t sustainable.

While a good business may survive with a weak brand, a poorly run organization will fail, even with the best brand ideas. Always. You have to have a good model to have success with a great brand. No exceptions.

Kodak is expected to file for bankruptcy in the coming weeks. Kodak is an amazing brand; the phrase “a Kodak moment” is synonymous with moments so special they are worthy of a fabulous photo. With a solid brand and a lucrative business model—for many years they had a virtual monopoly on film production—the company was a classic power brand; the choice of consumers, a desired employer, an industry innovator and a leader within its community.

Kodak had the chance to stay relevant and evolve the brand experience, but they missed the opportunity. Love for the brand couldn’t ignore the technology shift that was eating away at the existing business model. The brand still holds a place in everyone’s heart—it’s an American icon—but the business model eroded and has fallen apart.

A strong brand strategy can evolve with the business model. A smart model can evolve around what innovation delivers and what the market demands. A good model is at the foundation of a great brand.