What Nobody Tells You About Rebranding...

So I'd like to share some personal experiences with you if that's okay. (I assume it is, because why else are you here if not for the tea? ??)

First, you're going to need some context, and I can provide that. So here goes, I run a small business on WhatsApp, nothing huge, just a bunch of services including resume writing, logo and flyer design, and other odds and ends for personal/brand development.

I've been running this business for more than 3 years now, and recently I decided to do something that I've been wanting to, but afraid to do. I decided to rebrand.

My business has grown from its humble beginnings to a less-but-still-humble stage, and it was definitely time for me to expand. So started looking for possible improvements, I changed the business name, created a bank account (to keep business and personal income separate, because otherwise, I would probably spend everything??) and generally started thinking beyond the idea of survival which was the initial reason why the business was created.

This was the first problem that I had to face.

One of the biggest problems businesses face in third-world countries such as mine is that they were created as a means of survival as against the more practical reasons businesses are created. As such, not enough thought goes into establishing the business or ensuring sustainability.

For example, many of the businesses being run in Nigeria today do not have a continuity plan, and would not survive the death of the founder. (Here's a quick one, point out any five SMEs you know that can survive if the owner dies. Does anyone come to mind? Yep, I thought as much.)

Anyway, I decided to rebrand, and here are some of the challenges (let's call them good problems) that I faced.

Good Problem # 1. Your business name is a much, much bigger deal than you think it is.

I started out as a hustler just looking for some extra cash by the side, so my business (if I could call it that) wasn't anything special. I was content to call my business by my name "Laolu" and for over 3 years, that worked just fine. But the moment I started to think about sustainability and continuity, I realised one very important thing - my name had to go, it was no longer good enough for my business.

Good Problem # 2. The decision to rebrand will bring about a huge change in perspective.

And here's the funny thing, you may be ready to rebrand, but that doesn't mean you're prepared for the mental shift that comes with it. The moment I settled into the new state of mind for the next stage of my business, I suddenly realised that I simply could not continue with things as they were.

Good Problem # 3. Rebranding hurts, but if done right, it's worth it.

The decision to rebrand was not easy, don't let anyone tell you otherwise. I had to take a long, hard look at the way I run my business, and most painfully critique my methods and options. I had to accept that I had made a few mistakes, identify them and work out how I could have done better, as well as create safeguards to ensure I didn't repeat the same mistakes.

Good Problem # 4. You're (probably) going to panic a lot.

Lord, I have been through a lot, lol. ??

As I was undergoing the rebranding process, I had a lot of questions that screamed to be answered. Would my clients recognise the new business? Would they be accepting of the changes I would make? What did the future hold for this new version of my business? Is it a really good idea, or just another bad one? What if I don't like the new version a few months down the lane? What then? To be honest, I still have those questions, but now I understand that they will always exist and that I may not be able to answer all of them, but I can decide whether to use them as a guide to make better decisions or let them stun me into indecision.

Good Problem # 5. You may have to rebrand again, and that's okay.

The future is fluid, and so is your business. As you grow, there will be times when you need to redefine your business. You will take on new clients, you will offer new service options, market strategies will change, and all of that is okay.

For the longest time, it's always been me doing the work, running around and trying to make ends meet. Finally, I'm looking at the future and a business beyond "Laolu". Perhaps one day the business could even be international, who knows? Each time I outgrow the present brand reality, there would be a need to rebrand, and I would have to be willing to undergo that.

So... I guess that's it from my end. You've just read through the five challenges I faced when I decided to rebrand.

Do you have a business of your own?

Have you had to rebrand, or been a part of a rebranding process?

What was it like?

Please reach out to me with your experiences, I would love to hear about them.

Till next time, keep winning! ????

Have a great week!