“If you’re going through hell, keep going.”
- Winston Churchill
Any business knows that hard times come. Whether a shift in the market, a technological advancement, new competition, etc.
As the business and brand are challenged to fight for its life, it will naturally strive to adapt or die. (Read our article on Adaptation) This typically means the business is more open-minded to creative and interesting ideas.
Like a dehydrated sojourner in midst of a desert, they crawl desperately looking for water. Sometimes the mirage that appears is just what they need to have hope and drive in order to…
We all know brand negligence can harm a business significantly. This type of harm isn’t alone. There are many ways to stunt the growth of your brand (and business). Here are the most common mistakes:
“Branding” is a term that many are unsure of its actual meaning. This is unfortunately sometimes translating into plastering your logo on every inch of free space and making it as large as possible. No, having your logo repeated isn’t branding and this will not grow your brand. It only adds to the white noise the rest of the marketplace is making.
There is a sales fallacy that many businesses fall prey to. This fallacy is the need to justify your business or service/product. As businesses, we are “selling” our services or products, yet overtime this act of sales has slowly become seen as a lowly act of begging. Naturally, sales has driven the business to over-explain (and ramble) in the hopes to swoon their customers into making a purchase by possibly impressing them with interesting features and knowledge.
This over-explaining is one of the downfalls of selling from a business owner/insider’s perspective. We lack an outward perspective and most likely suffer…
A downturn in a market can be scary. They can also be very scary. The scariest thing about a downturn in a market is that it reveals. It reveals good and bad things in our business and in our brand.
In strong markets when things are humming along, it’s seldom we take the time to look in the preverbal mirror to reflect. To scrutinize and look for flaws in our business model and brand. When a downturn comes, these things quickly rise to the top and stare at us right in the face.
A market downturn can show you just…
You’ve heard how you shouldn’t “diversify a portfolio” — or “don’t put all your eggs in one basket” — this is common knowledge for all things “Money 101”. So do businesses apply this same logic to their revenue?
Most businesses diversify their offerings through different products or services. Most businesses diversify their client/customer list by ensuring each buyer-type (demographic, etc.) doesn’t take up too much of their revenue so they avoid becoming dependent on this individual. This is great. These are basics to running a business and ensuring you don’t get the rug pulled out from underneath you. (Ouch)
Sometimes as businesses we think we can create the future and our beloved customers will simply follow. This may be true to some extent with very innovative products or services, but for the most part, any business (who wants to stay in business) must be keeping a pulse on the behavior of their audience. This is simply because the behavior of their audience will influence what is expected of their business.
Consumer behavior changes. How we use or don’t use products and services naturally changes as time rolls on. …
A good business focuses on the current needs of their audience.
A great business anticipates the needs of their audience.
A market leader anticipates the anticipation of their audience.
For example, think how Henry Ford, Steve Jobs, Walt Disney, or Elon Musk, all may not have had completely original ideas, however they still not just anticipated where the market was going, but anticipated the market’s anticipation on a massive scale.
Sure, it’s easy to point to extremely inventive examples like the above. …
You’ve heard us express before our frustrations with fluff. “Fluff” ranges from pointless marketese and buzzwords to fillers and unnecessarily large words. You can call fluff: smoke n’ mirrors, being intentionally ambiguous, or just good ol’ BS.
But one thing fluff cannot be called is human. As slick as these professionals and “marketers” think they are by deploying fluff, it actually is counterproductive to connecting with the audience. It was Albert Einstein who said it best:
“If you can’t explain it simply, you don’t understand it well enough.”
We can all relate to this. When asked about a topic we’re…
2020 has been an unthinkable year for so many businesses and industries.
It’s time to face the music (and add salt to the wound) and acknowledge that a simple turn of the calendar page doesn’t take any of the pain away from where we now find ourselves.
With many businesses on life support, this reality comes from the shift we as a nation and world have undergone. This pandemic has been a catalyst for many markets. By this, I mean it has compressed time that would’ve normally taken 3–5 years for industry advancement to just 3–5 months. Talk about pivot.
Brand is not what you do. Brand is how you do it.
On a very fundamental level, what should refer to your business model. This is the way you trade a good or service for money.
Now we go to the deeper level of how. This is how you do that what. Here is where most businesses see brand start to influence the business model and add value to the experience of the trade.
How you do the what is at the core of where your brand is cultivated.
If you take a moment and notice that businesses who only…