Spotted a thought-provoking guide from ABA Design this week on the importance of developing a strong brand.
It's easy not to worry too much about your "brand". (I sorted that when I picked a company name and logo, right?)
However, as mentioned in the guide, there are points (especially of change/growth) within a company's lifetime where reality might begin to diverge from the original ideas the company started with. If you don't take a little time to rethink your brand and make sure everything agrees, your business might suffer.
Plenty of practical elements to consider in this handy guide...
"What separates companies that thrive for decades from the ones that flounder for years? Warren Buffett popularised a phrase and concept that hold the keys to the answer to this question: the concept of an economic moat. Sustainable businesses need to build wide and deep economic moats and put in as many alligators as possible. These moats are protective barriers that guard those inside and keep the competition out. There are various ways that these moats can be created, see table on the left. This is as true for SMEs as it is for large corporations, and so CEO’s, MD’s and business owners spend their working lives striving to ensure that their businesses thrive through economic downturns, through market evolution and despite competitive threat. For many SMEs creating a moat over price, size or high switching costs is not an available option. World domination can come later at a future point of growth, but for now the most obvious options are to pursue creating a moat around niche offerings, a recurring revenue model and strong IP including brand."