Financial Freedom Series – Build Your Own Business (Part 7 – Brand)
According to the latest South African data, many people are struggling to make ends meet. Even those with jobs are not earning enough to cover their living expenses.
If you are battling to find work or are in a cash flow crisis, why not consider BUILDING YOUR OWN BUSINESS?
Over the past few weeks, we have examined…
- How to find the right business fit
- How to develop the right skills and knowledge
- How to set up a business plan
- Know who your potential clients are
Your BUSINESS PLAN will improve your chances of success and help you formulate a strategy for achieving your goals while giving you clarity, focus, and confidence.
You also need to IDENTIFY YOUR TARGET MARKET. Many people believe they can make money if they have the right business idea, but this is often untrue. You need to ensure your business is brought to the right target audience. Without the right audience, you will struggle to build your business and generate revenue.
You also need to MARKET YOUR BUSINESS EFFECTIVELY. The aim of marketing your business is to generate leads. Your leads are potential clients who can be contacted or who will contact you, individuals and companies that will benefit from your services and potentially purchase your product or subscribe to your service.
“Good planning and hard work lead to prosperity, but hasty shortcuts lead to poverty.” (Proverbs 21:5)
Can you utilize your qualifications, skills, experience, and unique gifts and talents to establish a business that provides a valuable service? You could start small and work from home to cut costs.
Why not consider becoming an entrepreneur and starting a business or side hustle?
May God open doors of opportunity, give you wisdom, and take you on an adventure as you build your business. May God bless your business.
Please do not do it alone. Ask God for guidance. He wants to lead you.
“But remember the Lord your God, for it is he who gives you the ability to produce wealth.” (Deuteronomy 8:18)
You may be on the brink of a new business opportunity that will allow you to add value to others while earning an income doing what you love.
Who knows, you may even be able to provide a few job opportunities to others through your business venture in the future.
Today, we are going to focus on BUILDING YOUR BUSINESS BRAND.
A strong brand identity will draw interest to your business and influence how people perceive and feel about it.
Do you know where BRANDING originated from?
In the “old days,” ranchers marked their cows with a hot iron, creating a visible mark that signified ownership.
The brand symbol changed the cattle market. Theft was reduced, and if a cow wandered off, people could identify its owner.
The brand raised awareness of who owned the cow and altered how people interacted within the cattle industry.
Building your brand is more than just designing a logo and choosing your color theme.
Take any major brand, such as Apple, Adidas, BMW, or Coca-Cola: their unique brands each create a specific association in the minds of consumers that links their products with positive outcomes, thereby building loyalty.
That is why companies like Adidas or Nike partner with sports stars who appeal to their customer base.
Similarity: Many will buy a Coke when they are thirsty as they resonate with the brand’s emotional appeal.
Branding is More than Advertising Your Business
While advertising will make people aware of your product, branding is what people think and feel when they encounter your product or service offering.
You need to ensure that your brand aligns with the values of your target market.
So, how can you create a brand for your business?
Alex Hormozi advises that you pair your brand with people, experiences, and other elements that your target audience already values.
Your brand may attract some customers but deter others. Therefore, it is essential to establish a positive brand identity over time and attract the ideal customers to your business. You may need to make a few tweaks and adjustments to adapt your brand and ensure it portrays the right message to the right audience.
In a nutshell, your brand needs to build a strong connection between your ideal clients and your business. If you can pair your business with the right values and people and create the ideal experience, you will attract your perfect customer.
To help build your brand, consider the following…
- Define your PURPOSE.
- Identify your VALUES.
- Be CLEAR on what is essential.
- CLARIFY how you want to be perceived.
- Be REAL.
- Be CONSISTENT.
- Focus on your STRENGTHS.
- Make a POSITIVE DIFFERENCE.
- CONNECT with your target audience.
Ask Yourself the Following Questions…
- What is my area of expertise or value-add?
- What differentiates my business from its competitors?
- What special connection can I create with my ideal client?
- Is my brand aligned with how I want my ideal customers to see me?
- What do you want your target audience to experience by using my product or service?
- What values do I want potential clients to associate with your business?
7 Steps to Build Your Business Brand…
- DEFINE YOUR BUSINESS
- What do you do?
- What are your values?
- What value is your business adding?
- How would you identify your business?
- What personal touch does your business offer?
- If your business was a person, what would they look and sound like?
- WHO IS YOUR IDEAL CUSTOMER
- Who is your target audience?
- Who is most likely to buy your product or use your service?
- What does your ideal customer want?
- POSITION YOUR PRODUCTS AND SERVICES
- What product or service do you offer?
- Who is your direct competitor?
- What are your competitors doing?
- What sets your business apart from your competitors?
- Why would your ideal customer buy your product or use your service?
- Can you develop your unique competitive advantage?
- DESIGN YOUR LOGO
- What is your business name?
- Be creative. Come up with a simple logo.
- What are your business colors?
- CREATE A TAGLINE
- Develop a catchphrase that defines your business and the experience people can expect to have when using your products and services.
- CONNECT
- How can you align your values and create a positive experience for potential clients?
- How can you connect your business with your target audience?
- How will you attract your ideal customer?
- GET YOUR BRAND OUT INTO THE MARKETPLACE
- How will you promote your name?
- Marketing your business.
- Can you reach out to your circle of influence?
- Can you add extra value to your current client base? Can you upsell?
- Can you ask for referrals?
- Can you advertise?
- Can you build a social media presence?
Build your brand.
Get up. Get going.
Forward. Onward. Upwards.
Remember, building a strong brand will take time. However, getting your branding right can set you up to thrive over the long term.
Next week, we will examine LESSONS FROM THOSE WHO HAVE SUCCESSFULLY BUILT BUSINESSES.
In the following weeks, we will examine lessons from those who have succeeded.
- How to increase your sales.
- Build a network
Above All, Keep God at the Center
Trust in the Lord:
“Trust in the LORD with all your heart; do not depend on your own understanding. Seek his will in all you do, and he will show you which path to take.” (Proverbs 3:5)
Commit your plans to God:
“Commit your work to the Lord, and then your plans will succeed.” (Proverbs 16:3)
“Commit everything you do to the Lord. Trust him, and he will help you.” (Psalm 37:5)
Put God first:
Jesus said, “But seek first his kingdom and his righteousness, and all these things will be given to you as well.” (Matthew 6:33)
Next week, we will continue to INSPIRE you and give you PRACTICAL TOOLS and INSIGHT to help you BUILD YOUR OWN BUSINESS to attain FINANCIAL FREEDOM while HONORING GOD.
