Introduction to “Building Brand Wealth”

I work in a tough, extremely competitive world of marketing. It seems these days that everyone is a marketing pro, even those that own their own business delivering services from home repair services to jewelry and everything in between. Having been a business owner that has started five separate companies I have come to understand this issue from the business owner’s perspective. There is great concern with business owners about where their marketing dollar goes and how does it really help them. Why should they spend the money, and then who should they spend their money with and why.

These are questions we in the business must face every day. As I ponder the purpose of what I have chosen to do as my vocation, I champion ethics in the process of building a successful branding effort. I have come to understand that what I do for my clients is considered an essential part of their business. This has become the essence of what my profession represents to the business world and makes what we do essential in the life of a business.

This is not meant to be a “How To” step by step narrative in the process of marketing your business, that is for another discussion. This is instead a discussion for two specific disciplines in this space, the business owner and the other less invested people that aspire to become the “Best in Class” marking professional.

I don’t intend this to be a lecture to my other fellow marketing professionals that have clearly established their credentials; they will see what this is aimed at and will embrace this conversation as “spot on” for the benefit of their clients. Let’s set the table for this discussion as we move forward. The business owners, which will be the primary benefactor, will see the value in reviewing for themselves what they have done in considering their own “Brand Wealth”.

Now we all have to start by taking a step back when faced with the challenges of a business prospect. We first understand not all will have interest in what you have to say, so you must understand what your value proposition is to them and help them understand this as essential to any branding effort. Not everyone will be in this space; they either don’t understand it, or they distrust it. The vast majority of the business owners don’t see how marketing their business will deliver the revenue in return. As a professional, the first thing we do, which can be very difficult to do, is qualify that business by understanding who you can help and who you cannot. Those that charge in with the request for price (RFP), set up the out of the box process prior to the proper process of discovery. Failure to recognize the value of this process is the basis of failure. How can you offer proper assistance, or will you end up doing more damage than good? Will your client be better off for your relationship or will you accomplish the purpose of drawing down budget dollars instead?

An approach like this is could be reckless and will only serve you and not your clients. Unfortunately this is far too common and is destructive to all those that follow in the wake of this approach. This is the point of separation for the professional. The professional approach is different, as a business owner, be wary of those that present you with a plan from an RFP or a one plan fits all approach. That is a recipe for failure and a waste.

Let’s understand what “Building Brand Wealth” is. Why do we need to have this discussion? When a business owner forms their business, they have recognized how they can provide a product or service within a niche they have identified. They can do it better, faster or cheaper than others. Before they start their business, they see their niche as significant with its marketability being very clear. They feel so strongly about their opportunity they invest everything they have in their business, some invest their retirement, their homes equity, and in some cases money from friends and family. This is a deeply personal level of investment only they can understand. Unless you have been there, you cannot speak to this with the kind of clarity as those that have.

This personal investment is the single most overlooked aspect of virtually every marketing strategy. “Building Brand Wealth” should be the single most important aspect of any business plan, yet is overlooked or is begrudged from the outset of the businesses opening day. But if you stop to think about it, the brand strategist is the single most important professional in the board room. As a business owner they are sure to have their attorney, their accountant, banker, and sometimes their insurance agent alongside them in the decision making process. Without the success of their business, none of those advisors sitting with the business owner at the table will become necessary, except perhaps the bankruptcy attorney.

Everyone looking in from the outside assumes the owners of a business are very wealthy simply because they are owners. This could not be further from the truth as all owners can attest to. But they can become very wealthy if their ideals in starting their business translate to the consumer in a way that they will pay good money for their product or service. Managing the process of getting there in a way that can be cash flowed and developing the wealth in their brand.

The exit strategy that is in every good business plan will be best served only if the start of the business was centered on “Building Brand Wealth”. This becomes an essential conversation that any business owner will have every time they meet with their banker, attorney, and insurance agent throughout the life cycle of their business. Then when they meet with their business broker they will have greater value in their business at the point of exit only if they have made “Band Value” a priority from the start.

As we carry on with this discussion, it is important for the business owner to first understand why they started their business. My first advice would be to put this in writing, you must understand and have the ability to articulate this to anyone you are coming in contact with. Once you have done this, you will be ready for PART TWO of “Building Brand Wealth”.

Strike three, is Obama out?

The election of Scott Brown will seat the newly elected senator in Ted Kennedy’s seat is noteworthy on many levels. You could say he is the game changer. Mr. Brown steps in the middle of the most controversial political environment this country can remember.

Barack Obama for the third time was summoned by the DNC to step in, shed his grace on the and save the election. As he did in two previous attempts, his efforts fell short. In baseball, the third strike out means you go take a seat out of view of the fans. Is this true in politics? Does this election represent the unraveling of the Presidential fabric and all that the Democratic arrogance has represented over the last year?

Notice the Change in the tone Senator Harry Reid has taken in the last few days. Now instead of forcing votes in the wee hours of the night, he is saying we will give Scott Brown the time to take his seat. I believe it is fair to say that Mr. Reid knows they no longer own the world and that they need to adapt a concessionary stance that is required in democratic republic.

Not so says Nancy Pelosi, she remains as oblivious to the conditions on the street as she ever has. Her arrogance continues to shine through as the beacon of the DNC agenda. Sooner rather than later, she will wake up and realize she is no longer the super woman in the Senate and she can no longer impose her will on the rest of us. She will realize the world according to Pelosi is not the real world. We live in a Republic, not a Dynasty where people are subservient to a class of elitists.

In this country, we can thank the God we trust that our forefathers established the 2nd most important document man has ever lived to, the US Constitution. In my mind I put the Bible as number one but that’s another conversation. It does appear that the Administration will be forced to abide by the will of the people, now that the followers are going to be held accountable at the voting booth; they are turning their ear away from the White House to their own constituents.

The Agenda seems to have been derailed with Scott Brown representing the first wheel that has jumped the track. Now we will see the concessions that Obama promised, the doors will open up and the Cornhusker deals will evaporate under the pressure of full disclosure. Our Government is not “Lets Make a Deal” slide of hand or pay back deal, the people know that’s the promises made during the last Presidential campaign. It seems all the broken promises are off the table now that the stalemate in our Government has been re-instated and we are backing to the get nothing done government.

So with Obama’s third loss, where is he, where are we as a country? Will he regroup and continue with the status Quo? Or will he head the tea leaves and make the necessary adjustments to deliver productivity for the next three years he has left in his term? Where does that leave us? We still need the Healthcare reform and accountability in the financial markets. My concern is that this will get lost in politics and fall into obscurity, out of sight out of mind to the complete satisfaction of the Pharmaceuticals and the Banks.

So Strike three, as in baseball, we have to sit down and take cover hoping the fallout from Scott Browns election does not damage the intent while it re-seats our Democracies checks and balances.