In the book, there are specific comments on the characteristics of being an entrepreneur, together with up-to-date, practical and useful management tools and techniques for entrepreneurs. In my next blogs I will share with you a couple of these tools, as a sample of what you can find in my new book. I hope these will be helpful for many of you: existing and aspiring entrepreneurs; business owners and start-ups; and business studies students!
It is essential in your business to create and have brand impact. This is because the entrepreneur looking from the outside will probably never be satisfied with the offering on the table for customers. The products and services may seem over time to become outdated and tired. The entrepreneur will want to:
- enhance them;
- change them;
- develop them; and
- create new offerings.
I am not discussing changing, developing or creating new products and their market differentiation in this blog because it is included in Chapter 6 of my new book, entitled ‘Covering the Distance’. Instead, I will help you consider the branding process of the business as a whole or for the standard product available because the market perception of your products, services and offerings is vitally important.
A critical question to answer is: What actually makes your products or services so special they make customers buy, buy more and buy even more?
Creating a brand with impact is paramount to the success of a business. It allows the customer to have that comfortable feeling. It is essential to give messages such as - conformity, regularity, trustworthiness and singularity.
Your branding can be prepared with your company, using perhaps an imaginary product. There are two parts to having a recognisable brand identity; a logo and a tag line. Your logo is central to your company identity, so get one that is colourful and distinctive.
Firstly, before you begin the process of logo design, complete the following exercise. List 10 adjectives people use about your company and about the people in the firm or organisation as they see it. If in doubt ask. Against those current adjectives, list the desired adjectives so that through the current adjectives, the desired adjectives can be communicated.
There are five common types of logo:
- an abstract symbol signifying product;
- an abstract symbol;
- a realistic symbol;
- your company’s name in distinctive type; or
Think of 15 well-known brand designs and put them into these categories. Evaluate your preferences and think hard about creating your own.
Secondly, a slogan or a tag-line is just as important as a logo. It is one of the key ways you differentiate your company from others. So here is a tag-line exercise to help you. It must to an extent communicate the logo in words.
What are the four most important qualities that we must convey about our business?
As a trial exercise, think of your favourite film or book. Analyse it into three distinct actions of no longer than four words. For example: Three survivors from crash. Outside forces create difficulties. Two lovers find safety.
This is a well-known trick. Every book or film can be condensed into six words or three scenes of two words each. Create your own for your business or product. Don’t hold back.
The entrepreneur has to venture to gain brand impact and with new products this is an important and serious step.
Give it a go for you and the team in your business and let me know how you get on.
If you have any questions, please let me know - I look forward to hearing from you Robert@real-entrepreneur.com