Grow Your Business With These 3 Branding Tips

Dear Reader,

Many entrepreneurs work hard building a business, but only a few build a brand. A brand is not a fancy logo. A brand is not your pretty colors. A brand is not a catchy tagline. All those things are a part of a brand, but the brand is so much more. Building your business into a brand is essential to developing your asset to the fullest. When you build a brand for your business you are really creating two distinct assets. Whether you realize it or not, your brand can be many times more valuable than your business. A brand is more important than the actual product. 

Anyone can sell a product, only people with passion can create a brand.

Many people think a brand is what you make, which is not true. What you make is simply a commodity. A brand is what communicates who you are as a person or a company and informs what you make.

A brand is different than a commodity. For instance, Coca-cola is a brand. Store-“brand” soda is a commodity—not really a brand. Nobody collects Safeway-brand cola merchandise—and no one builds museums to celebrate the history of Kroger soda. They do for Coke though, because it is a brand—and one that people love.

A brand is important for an entrepreneur because it helps people instantly know what you stand for. In today’s economy, people are very sensitive to brand promises, price, and value. This means people want to know that you are caring more about them than what you are selling them. 

Today, you, your business, and your brand must first let people know what you care about and that you care about them. If you don’t, your competitor will. You see, a business is not about money. Business is about caring. If you do that—genuinely care, fulfill your brand promise with an outstanding experience, and operate 24/7 from everywhere—money will come pouring in. 

For me, my brand is taking complex financial information and making it easy and fun to learn. 

My company represents that brand, and people trust me and my brand. My brand is authentic.

The Rich Dad brand is about knowledge and action and personal responsibility. We teach you how to look at everything—both sides of every idea and opinion and situation—and decide what’s right for you. We don’t tell you what’s right or what to do. Only you know what’s right for you. 

We simplify the path to your dream and offer tools to help you along the way. 

We make learning about money and investing fun, experiential, entertaining and unforgettable.

Build Your Brand with the B-I Triangle

Every business has competition and, when building a brand, you must be different. Too many businesses are “me too,” and those will never rise above the fray and breakthrough. When we hear someone say, “My product has no competition because we are so unique,” we know we have a dreamer in front of us, not a business person. There is always competition, even if the competition is the fact that your customer doesn’t know you exist. Ignorance can also be a competitor.

Most people only see their product or service, the top of the B-I Triangle. Often, they fail to see the full scope of the 8 Integrities of a Business. If they cannot see the entire B-I Triangle, they have blind spots in their vision of the world, and they will never find or be able to fully create their points of difference.

Often by being genuine to who you are and meaningful to the people you serve or wish to serve, you are, by definition, different. So few companies have a grasp of this, which means you stand out.

To build your brand to be different, start by looking at the B-I Triangle. The B-I Triangle is made up of the 8 integrities of a business. They are:

RDD_Triangle

  1. Mission
  2. Leadership
  3. Team
  4. Product
  5. Legal
  6. Systems
  7. Communications
  8. Cash Flow

Each of the 8 integrities of a business is a part of the overall brand. Each must communicate what the brand is. 

The outer three integrities on the B-I Triangle’s perimeter give power to the interior five integrities. When even one of the three integrities of mission, team, and leadership is weak, the interior five integrities cannot possibly hold their shape. 

When a business is having trouble, look at this triangle. In nearly every case, you will be able to pinpoint the source of the problem within one or more of these 8 integrities. 

Why Do You Do What You Do?

Successful entrepreneurial businesses have that special something, that magic that will ignite a brand.    

Do you know your “why” behind your “what”? 

You have to have a good reason for doing what you’re doing because people connect with the why. You have to bring that genuineness to life in the brand. 

You might be successful as an S, but your “why” won’t be enough to carry the business through to a B-quadrant brand.

Branding is a marathon as much as it is a momentum business. Leaders can’t dip in and dip out at will.

Ask yourself these questions:

  1. What do you want to achieve with your business?
  2. What gets you up in the morning?
  3. Have you ever failed?
  4. Where do you see yourself in five years?
  5. What do you want your legacy to be?

The questions are important. 

Repeat the process until you become clearer about who you are, why you do what you do, and if you have the fire it takes to become a real brand. Through that process, you’ll discover most genuinely what you stand for.

Why Most Entrepreneurs Fail

There are three primary reasons why most small businesses fail. They are:

1.The entrepreneur does not have all 8 integrities in place. 

For example, most new entrepreneurs focus on the product. They may have a great product but are likely deficient in some or all of the other 7 integrities.

  1. The entrepreneur is a mono-professional.

The saying “Birds of a feather flock together” applies here. For example, attorneys get together with other attorneys to form a business such as a law practice. 

Or techies get together with other techies to form a web company. Again, they may be smart professionals, but they will lack professional strength at the other 7 integrities.

  1. The entrepreneur lacks a sense of mission.

Emotional intelligence and a sense of mission are essential in carrying an entrepreneur through the ups and downs of starting a business.

Regards,

Robert Kiyosaki

Robert Kiyosaki
Editor, Rich Dad Poor Dad Daily

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Robert Kiyosaki

Robert Kiyosaki, author of bestseller Rich Dad Poor Dad as well as 25 others financial guide books, has spent his career working as a financial educator, entrepreneur, successful investor, real estate mogul, and motivational speaker, all while running the Rich Dad Company.

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