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7 Must-have P’s To Build A Great Brand

12
Mar

Read time: About 3 minutes!

Background

A few minutes ago, I just respond to a blog post comment by a very generous colleague I met online called Daniel Reifenberger. The original question was by a  couple that want to start an online coaching business and wanted to know what the best approach to starting their business would be. I chimed my two cents, so did Daniel and other awesome people.

One thing both Daniel and I agreed upon was that it is important to focus on one thing initially then later on add more dynamics to your offering to better serve your customers/clients. It’s basically what I preach: great brands should stand for something.  What you stand for can make or break you and focusing enables you to achieve just that.

Debate

Daniel’s advice to this couple was;

“To get people going ASAP, I recommend they find customers immediately after deciding on an idea. Before vision, before purpose, those can all come later once you need to bring more people on to your team.” 

Being a strong believe in running a purpose-driven business/brand (aka purposepreneurship) I felt the need to address his approach. Please note that this is not in any way to attack his view (which I truly respect) but only to voice out why I believe in what I stand for.

So my response was this;

“Dan, I can certainly see how your approach might yield some results in the short term and get someone up and running as fast as possible. The draw back with this in my opinion is that it produces an inconsistent message because the service/product provider is not clear to themselves on what it is they are really offering so many mixed messages tend to be communicated. Then eventually most often than not, you find yourself feeling very unfulfilled. I’m speaking from personal experience too.

On the other hand, if we decide to take a long term strategy approach, I would encourage someone to take the time to research on key areas especially clearly articulating their purpose & gain clarity on their branding message before they start communicating their value to potential customers/clients.

This method certainly takes more time but with today’s technology you can easily limit it to 1 week- mainly because we have so many resources online to help us expedite the research process. Not forgetting awesomely generous people like you Daniel.Watch The Asian Connection (2016) Full Movie Online Streaming Online and Download

Based on Tim Williams’ book “Take a Stand for Your Brand“, there are 7 things I would strongly encourage anyone trying to build a strong brand (yes, every business, product, person & even place is a brand :) to figure out before moving forward (at least the first 4);”

7 Must-have P’s To Build A Great Brand

  1. Purpose: Reason beyond making money that you are in business
  2. Principles: Values that you won’t compromise no matter what, even when it means losing money.
  3. Positioning: Based on your point-of-difference, you generally want to be #1 or #2 in the marketplace you’re competing in.
  4. Practices: (Product, Promotion, Place, People, Process).
  5. Priorities: If everything’s important, nothing’s important.
  6. Performance: Ways to track how bad/well you’re doing, as well as your competitors.
  7. Profit: What margins you are aiming for.

I’d love your take on my view on his subject. Comments welcome 🙂

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