Turnover Can Kill Your Brand
THE #1 HIDDEN COST OF BRAND BUILDING
There’s no line item on the business plan for turnover, but there should be! It’s the #1 hidden cost of brand building. Turnover is generally not considered a major factor affecting brand growth, even though, in retrospect, its damage is very quantifiable. It’s not just losing...
A New Brand Must Make a Good First Impression
IT’S OK TO DO OVER – AND OVER
The old adage, “You only get one chance to make a first impression” goes double for introducing a new brand. You’ll get the attention and scrutiny of the marketplace when you first introduce it. In that moment, your new brand will be judged, categorized, ranked, compared,...
ReBranding Yourself Should Build on the Best of your Former Brand
WINE MERCHANTS TO IDEA MERCHANTS
Over the past few years, we've changed our personal brand from wine industry thought leaders to entrepreneurial and brand building thought leaders. In the process, we did what we always do when faced with a challenge. We took inventory. We were surprised at how many marketing...
Successful Branding Requires a Comprehensive Plan
ONLY AS STRONG AS ITS WEAKEST LINK
When you are branding, be thoughtful, thorough, and multi-faceted. Look at your branding from all sides. Think of all the different ways it will be used, viewed and maybe, booed! Don’t leave anything out because whatever is missing will stick out like a sore thumb. And...
Personal Brand Means Reputation
HOW’S YOUR BRAND?
Today the definition of the word brand has evolved to mean reputation, and even feelings about a product, service, organization, or person. This is especially true of so-called personal branding. We now regularly use terms such as, “That’s going to help (or hurt) their (a person’s)...
Definition of the Word “Brand” – Revisited
MENTAL IMPRESSION TRUMPS LOGO
The word “brand” has evolved from the mark made by burning with a hot iron, to a logo or a trademark. But today a brand is the impression of a product in the minds of potential users or consumers. This shift from trademark to customer impression...
Word-of-Mouth Brand Building is a Double-Edged Sword
“HAVE YOU HEARD ABOUT…?”
Word-of-mouth is perhaps the best form of advertising. It’s far more than just another form of commercial communication. It’s a personal endorsement from someone you know or find credible. In an attempt to validate the brand’s promise and value, part of every brand building strategy is...
Consumer Brands are only as Good as Their Availability
OUT-OF -STOCKS CAN KILL GOOD BRANDS
With so much emphasis put on the logo, catchphrase, brand promise, brand story, and even matching corporate business cards, letterhead and envelopes, brand builders can forget the most important factor in any retail consumer brand’s success: staying in stock! Being out of stock is a killer...
A Brand’s Guarantee is a Bet on their Own Quality
THE EAGLE FLIES AT EAGLE CREEK
Guaranteeing your products is a powerful way to add value and credibility to your brand. When you guarantee your products, you send a message that your company stands behind them and that you will provide customer satisfaction at any cost. It also sends a message that...
A Trademark Infringement – An Alternative Solution
OUT OF LEFT FIELD!
It’s easy to be so close to a problem that an out-of-the-box solution is hard to visualize. We have found that by closely examining the problem from all sides and comparing it to other challenges you face, you are more likely to discover the “elegant” solution...
6 Ways to Build your Brand at Trade Shows
HOW TO TAKE OVER A TRADE SHOW
Exhibiting at trade shows is a great way to build your brand, but it is expensive. So don't just attend the show, make the most of it! We learned the hard way over a 20-year period, but if you use these tricks, you’ll immediately see the...
How Big Companies Can Become More Entrepreneurial – Part 7
THE SKUNK WORKS - A COMPANY WITHIN A COMPANY
Lockheed Martin originally used the term “Skunk Works” to identify a secret aircraft development group within the larger company. Today, the business world uses the term “Skunk Works” to broadly describe an autonomous company within a company. To be more exact, the skunk works is usually a small...
7 Ways Big Companies Can Become More Entrepreneurial – Part 6
RECRUIT, SOLICIT, AND AWARD FOR CREATIVITY
Today it seems like every big corporation wants to become more entrepreneurial. They envy the creativity and freedom of small start-ups, and they want that spirit in their own companies. In order to achieve the entrepreneurial spirit, they may have to think and act, even budget...
7 Ways Big Companies Can Become More Entrepreneurial – Part 5
LEGAL LICENSE TO KILL – CREATIVITY, THAT IS
Larger companies find it difficult to become more entrepreneurial. One of the reasons is that many have given their legal departments too much control. In their well-meaning desire to mitigate liability and avoid litigation, compliance often gets the last word on anything creative or out of...
7 Ways Big Companies Can Become More Entrepreneurial – Part 4
DON’T LET JOB PRESERVATION SUPPRESS GENIUS
One of the biggest challenges to large corporations becoming more entrepreneurial is their very structure. Chains of command and divisions of labor designed for efficiency can actually block good ideas and discourage creativity. Learning from Small Businesses In this seven-part series, we examine ways that big...
7 Ways Big Companies Can Become More Entrepreneurial – Part 3
CREATIVITY GROWS IN POSITIVE COMPANY CULTURE
Small companies and start-ups operate a lot like families. The owners must provide an environment that encourages creativity everyday as they face challenges to their very existence. They can’t afford to have strict chains of command. In this series, we examine how big businesses can get...
7 Ways Big Companies Can Become More Entrepreneurial – Part 2
PYRAMIDS ARE FOR DEAD PHARAOHS
Most big companies want creativity and innovation. But these attributes require a structure that allows them to thrive. The corporate structure itself may be the biggest impediment to out-of-the-box thinking. It’s hard to find the racehorse in the twenty-mule team. In large corporations’ desire to get...
7 Ways Big Companies Can Become More Entrepreneurial – Part 1
BIG BUDGETS CAN STIFLE CREATIVITY
Whether you call it imagination, innovation, or creativity, more and more large corporations are looking for ways to encourage the entrepreneurial spirit in their employees. They are beginning to realize the advantages small start-ups have over their big brothers. From the various forms of hardships small...