Make Your Business a Brand

The difference between a business and a brand cannot be overstated. There is no greater tragedy than an entrepreneur jumping out into the ocean of uncertainty, that simply comes with the territory of business ownership, believing that their business will just “make it.” That the hard work people always talk about is a myth, and that their idea is the idea the world has been waiting on. Between the fantastic fortune they will inevitably encounter, and of course the support of their friends and family - who believe in their dream as much as they do - these entrepreneurs approach their business believing they will be in the “6-figure earner” category by lunch time. If this is you, what you may have found is that while your friends and family love and value you, their perception of your business is innately devalued and even when it is not, they are one time customers at best.

No, your business cannot be sustained on the loyalty and pledged fidelity of your close relations, so what will you do? Now you are faced with establishing your value in the marketplace. Oddly, this clarion call to get out there and prove your worth is not an encouragement to competition. Instead, it is an admonition to creatively share the value of your company with the world. That is what it means to go beyond starting a business to creating a brand.

Branding means creatively sharing the value of your company with the world

Case Study. Take a look at your cup of coffee. The value of the coffee to you is really in the caffeine. It is the function caffeine performs in your life every day. That extra kick it gives you in the morning to awaken your brain cells, and if you are anything like me, giving you the ability to speak at all. Yet, we are all willing to pay different prices for “our” beloved cup of joe. Some are willing to pay nothing and so take advantage of the coffee made readily available in the break room, yet others relinquish upwards of $7.00 per day. Why? The short answer is branding.

We value coffee because of its concentrated caffeine content so all cups are essentially created equal. It would be save for the truly effective branding done by some of the industry leaders that suggests one cup of concentrated caffeine is more valuable than the other. Even the up and coming caffeine pushers have begun to see the necessity of pouring more than just a cup of joe. It isn’t that one company has a different caffeine than others, it is that some companies have dedicated a significant amount of energy creating an experience for their target market that is so attractive we become addicted to “our brand” of coffee, and not just any old cup will do.

What does coffee have to do with your business? Coffee is likely the most practical example of how effective branding can impact entrepreneurship. Not only to justify a higher price point (although that is usually a side effect), branding gives you an opportunity to create a unique experience for your customer that will essentially have them “addicted” to what you offer. If you have a clothing line, spend a little time investigating inexpensive packaging options that will add just enough of an extra touch to have your clients thinking they spent three times as much at a high end retailer. You may even want to consider sending a handwritten thank you note especially early on as you are growing your client base. Give some thought to finishing details like hang tags, and the online shopping experience to make it as appealing to your end user as possible. Adding details is the way to begin sharing your message with the customers you have.

For the new entrepreneur - remember you will have infinite opportunities to continue to develop your brand as you grow in your business, so it does not have to be “perfect” to start. For the established entrepreneur - All great brands that have had longevity in the market have re-branded over time to ensure that they continue connecting with their ideal clients, and that is your opportunity as an entrepreneur. Instead of just having a business that sells some stuff or offers some service, building a brand gives you the unique task of creating a creative and innovative experience for those people most important to you - your valued customers.

It means a lot to me that you took the time to read this article. I would love to continue connecting with you on Twitter, Instagram, Facebook and YouTube. See you out there!