How and why branding is relevant to owner driven businesses
How and why branding is relevant to owner driven businesses
Owner driven businesses in India sometimes get trapped in the basic fallacy of their structure with too much focus on business, but not on building its culture.This sometimes leads to themnot being able to make the quantum leap from an entrepreneural venture to a Company with an identity of its own.
This is where the importance of branding and the entire need for communicating the beliefs of the brand are extremely important. Equally important is the fact that the branding exercise needs to involve all the people within the company and take a long hard look at the facts rather thanbuilding up justanotherfancy presentation in an ivory tower.
This atittude was well displayed by a leading industrial goods manufacturing company, which till date manages to remain completely debt free and entirelyowner driven. On the business side, they are growing in leaps and bounds with markets in every continent of the world. The business model is geared for success, the top management has both vision and skill to drive the vision. On the surface of it, things may seem like there's nothing more the company needs to do.
However, the company has gone ahead and created a brand for themselves.This was a strong exercise of seeing whathas workedfor them and what they need to change and convert that into a brand promise.
"The idea was not to get a facelift, but to ensure that every person within the company and all those associated with the company on the outside represent us in the same way. Its about ensuring that every person lives and breathes our philosophy no matter what the rank or region they operate in." said the managing director.
For growth, systems are needed and a brand is a reminder of that system and the guide that helps an individual in decision-making.
Any entrepreneur looking for a quantum shift in the mid-term future, needs to understand the value of creating a culture across levels and living their brand.