I attended a success seminar hosted by Daymond John, one of the investors on the Reality Show Shark Tank. One of the speakers mentioned that entrepreneurs and stewards of brand do two things very well. First, they ask the right questions. Second, they solve problems.
1. What Is Your Brand?
Asking what your brand is about as well as the other questions that come along with it is vital to Owning Your Mile. Determining who and what your brand is, and in most cases isn’t is the first step to successfully building a Stand-Alone Brand. We have seen a significant shift in power from the companies go to the customer. Numerous industries have been turned upside down by the forces of disruptive change. The only question is will your business still be standing when the smoke clears.
What exactly is a brand in today’s consumer driven environment and how does this knowledge help you when trying to Own Your Mile? A brand is more than products, features or catchy slogans. When a customer sees your logo, he/she certainly has trust for the brand but the logo is only a symbol. The logo would imply a promise or a guarantee that an established expectation would be met; and if it is not, there would be an earnest effort to recover from the mistakes. Every company is going to make promises; some businesses will deliver and some won’t; thus, the promise is only a part of the brand story.
How about a relationship? Well…we are getting close, but we aren’t there yet. We do have relationships with our favorite brands; and just like the uncle who shows up at family gatherings when he wasn’t invited, we have a relationship with the brands we don’t necessarily like (for me it’s Cinnabon, not because of taste, but when if I go near a Cinnabon location, I instantly gain ten pounds!).
And then there is reputation. Similar to our personal or professional reputations, they can be impacted by our own actions, your local brand requires a team of folks with different strengths to grow. Once you think of your local brand as having a reputation, you are more likely to develop the mindset to build the brand, shape the brand and protect the brand.
The Brand is the customer’s intuitive feelings about that product or service. Not our feelings, but the customer’s feelings. Hundreds of Personal Injury attorneys are out there waiting to compete for your dollars with ads touting their how much money they can get you after the accident, but it is connective tissue of trust that attorney establishes that is unique and ultimately wins the business.
The shoe is clearly on the customer’s foot. Who the company is far less important than who the customer is. Tapping into the customer’s identity will help create a Stand-Alone Brand. As Chief Mile Owner. We will tap into the customer’s identity by asking the right questions:
- Vision of purpose…..What do you want your business stand for at its best?
- Core Value….Why do you Do (Practice Law, Paint Cars, Provide Healthcare for kids, etc.)?
- Mission….Does what I do well bring significant value to enough people to build a viable business?
2. What Is Your Solution?
As Chief Mile Owner that is building the brand, you are not only providing a choice to the consumer, you are aligning the brand to the consumer need states. The brand is associated with helping the consumer be who they want to be and build their own unique identities. In short…You are providing a solution. The primary good that a restaurant brand can offer its customers is empowerment. Empowerment to do what? Have more time…Spend quality moments with family…Address healthy eating concerns. The feeling of empowerment with your guests goes a long way toward keeping the cash register ringing. People like to feel that you “get it” and would be willing to wait in line to prove it.
Again, building a Stand-Alone requires that you ask the right questions (What, Who, Why, How and By Whom). Ask yourself the following relative to the solution that your restaurant is delivering.
- Who are you?
- What does my business deliver that brings positive influences and adds value to the lives of our customers?
- Who do we serve?
- Why do we do it?
- How do we do it?
- By Whom
Let’s look the solution this company provides.
EX: For choosey people in a hurry, we are premium fast food restaurant that passionately serves America’s most loved chicken by people that care…..
- WHAT does this company provide – Premium Chicken (Apparently, America’s most loved)
- WHO do they serve – Choosey people
- WHY do they do it – People are in a hurry
- HOW do you it – Passionately serving
- By WHOM – People that care
To succeed at Owning Your Mile, master these questions and you have delivered a solution that aligns with your potential customers.
