Day 20

Build value in your brand!

It’s possible for even small businesses to have a valuable brand proposition, and that’s more likely to be the case if they’re operating in a niche market. Being a big fish in a small pond is more valuable, generally speaking, than being a small fish in a large ocean when it comes to branding.

It’s important to make sure that your brand really encapsulates what your business is about – what it stands for; from the name to the logo, and even the strap-line, it might be worth examining your current brand. What are customers’ perceptions? What does your brand say about your business? Do you need to re-invent your brand to take your business to the next level?

If you’re going to invest in building a brand, make sure it’s the business brand you’re building and not your personal brand if you’re planning on exiting the business when you sell. This raises the issue of whether or not the business name should mention personal names; the general consensus is that if you’re planning on scaling the business or, even if you’re just working towards selling up and getting out of the business then there are very good reasons for staying clear of them.