Business
Quick – no hesitation, what is the name of your favorite hotel. Okay, now let’s assume you’re booking a trip and that particular hotel is sold out. What are two other hotel brands you would you consider? Next, suppose you need to rent a car. What is your preferred rental car agency? Now assume they don’t have any cars available. What is the name of the next car rental agency you would call? You can play out these scenarios with virtually every product and service – whether it’s a hotel, toothpaste, a hardware store or where you do your business banking.In nearly every case, a short list of brands will likely come to mind that you prefer over others. Conversely, with a little thought, you could probably think of a fair amount of brands you would never buy from, or do business with.My point is, the very people you want as customers are doing the same thing when they have a need for the products and services you offer. It doesn’t matter if you’re a financial institution, manufacturer, a law firm, or any other business for that matter. Either your brand is on a short list, a “no way in hell” list, or no list at all. Good brands don’t make the short list – Great brands do. In this podcast, I’m going to share with you seven steps you can take to elevate your brand into a higher category so that when people do have a need for what you sell, your brand has a greater chance of being one of the first to come to mind.First, look into the soul of your company, and what I mean by that is your culture. Could it be better? Is it running at peak performance? Is poor communication, internal politics, lack of brand clarity or pride preventing you from being everything you can be?Second, become very aware of your competition. If you are intimidated by them, this is something you need to overcome and face head-on. Think of it this way - if you were on the other side of your desk, ask yourself if you would do business with your company. Third, if you were going to build a company that competes against you, how would you do it? What would it look like?Take those top three to five thoughts of what you would do better, or different and put some energy behind them. Fourth, understand and appreciate why brand development and strategy is so important. People’s decisions are based on brand experiences and perceptions. Fifth, Invest heavily into your people through training. Not just technical, but training on leadership, communication, problem-solving, conflict-resolution, sales, marketing, branding, crisis communication, and any other training that prepares them, and your company to be a force to reckon with and to be unstoppable. Some people say, “Well, what if I train them and they leave?” I say, “What if you don’t train then and they stay?” Sixth, adopt a visionary mindset. Keep a pulse on the trends of your business and industry and think in terms of your next two big ideas.And seventh, start courting top-tier people to be a part of your team and vision. It’s tough finding great people who will share your passion and determination to succeed. Network, have your people network and be visible at trades shows and industry events. Focus on building awareness and build your company to be a natural habitat for top-performers.