Have you heard of UFC?  Unless you live under a rock, you have to have heard of one of the continuously and fastest growing professional sports franchises in North America.  15 years ago, had you ever heard of UFC?   Through clever marketing and branding, a fringe and often bad PR sport became a mainstream and accepted sport, often because of its “bad boy” notoriety.

Why build a brand for your business?  Every business sells something.  That is the product but it is not the reason why your customers continue to patronize your business.  If you do not focus on the why rather than the product itself, then you cannot distinguish your product from competitors’  and your business can quickly become a commodity.

What sets you and your business apart from your competitors?  It is this difference that is your brand.   It is the “feeling” that your customers have about you and your business.  Try to capture this essence in your messaging, packaging, advertising and most importantly with your employees.  Yes employees can be your company’s best ambassadors because if they understand and convey the brand to customers, suppliers and key contacts, then your brand can be made clear.  It is up to you to try to understand and define this essence and then broadcast who you are and what you stand for to your existing and potential customers  so they keep coming back for more.  This is what your business is all about.

As an example, I am a CPA. I think that most people associate CPA’s as balancing a set of financial statements and preparing tax returns. That is all. In all that I do, my team and I differentiate the work that we do as being far more than numbers. We bring order and understanding and risk mitigation to the complex world of tax and financial information. The world is dynamic and complicated. That is what keeps clients coming back to us for advice.

Going through this exercise certainly makes your business and the succession / transition of your business a lot easier.

Learn, think, apply!