Last week we looked at your brand and differentiating yourself from competitors. This week we look at how new opportunities can help to quickly ramp up revenue.
Getting ready for growth
When confidence in the economy improves, make sure you are ready for growth, and the opportunities it will bring. The challenge that you face is being able to understand what these opportunities are, or what you will need to do to exploit them. The good news is that if your brand is developed correctly, it will give you everything you need.
Build a strong brand
Your brand is the personality of your business. It should tell people who you are, what you do, how you do it and why you do it.
- Who you are is all about getting noticed.
- What you do is about describing the benefit of your product or service.
- How you do it is the values that determine the way you behave.
- Why you do it is the purpose behind your business – what motivates you?
Use your brand to bring clarity to your business functions
If your brand has been well built and managed well, it will bring clarity to your business. This clarity is a valuable sales tool, but it can also bring enormous benefits to the way you manage your business. It will help you make the ‘right’ decision about how to price products or services and which ones to launch. It will help you to choose the ‘right’ people to join your company – those who reflect the personality of the business. It will help you understand whether the place where you do business gives the ‘right’ impression to your customers and whether that place is a physical location or a virtual one. It will also help you to communicate the ‘right’ message, to the ‘right’ people, at the ‘right’ time. So whilst your scratching your head wondering what the answer is, we suggest you look at your brand at its core to help you direct your next steps.
We will cover off the second points in the upcoming articles, so keep your eyes peeled. If you have each of the elements of your brand in place, you will be in a position to make the ‘right’ decisions for your business, so that you can make the most of the opportunities that the upcoming year will bring.