As an entrepreneur aiming to achieve big we start from scratch. As time progresses our business grows beautiful and there comes a tipping point that happens to be a major game changer of our business future. We are not sure whether to treat our endeavor as a business or to make it a brand
Is a business different than a brand? Initially I was of opinion that,my business is my brand. So, this question might sound silly. The actual truth is that most entrepreneurs aim at building business. A business in simple terms is making money out of your investment by leveraging your effort. If that be the case you can take a personal loan (or) avail balance transfer option from your credit card, purchase some stocks and sell it at a premium. This yields profit and has risk associated with it. This is a stock trading business. This can be considered a business as this involves all aspects of a business including - initial investment capital, application of investment knowledge, investor involvement, capital risk, return on investment, profit/loss. So, clearly a business is not a brand.
Branding Your Business: An operation that involves people, money, transaction will be a business to start with. As time progresses your business grows. If you want to retain the thoughts of your business for ever aim at making it a brand. To make it a brand follow some simple rules from day 1 of your business
1) Business Name Becomes Brand Name - This is very important. Even if you launch a simple website have clarity and register proper domain name. This avoids later hurdles of registering new domain, redirection, moving irrelevant content and what not. So, have clear thoughts while registering a business name to make it a brand
2) Sensible Growth of Business For Stable Brand - This is essentially important. Always aim at sensible growth rather than sensational growth. For long lasting benefits and results sensible growth comes handy
3) Follow rules of land - This is essentially important. This starts with proper registration of business, paying taxes on time and following rules of land. This makes sure your brand name is not impacted. Adopt this form day 1 and success follows
4) Quality Brand Can be Expensive - This is absolutely true. If you provide best in class product with fantastic quality people buy your stuff without hesitation. Never compromise on quality
5) Too much focus on money can be dangerous - This is true. Focus of any business is money. But too much focus on money is not healthy for stable brand
