When entrepreneurs are considering launching a new product or service it's important to establish a company vision. In my post, The Starting Point, I spoke about how individuals need to have a vision of what levels of success they think they deserve. Those principles might appear to be just personal, but they will also have an impact on your organization. This transformation might occur without you even noticing. The best brands in the world are a combination of their founder's ideology, and also how they were able to inspire others to believe in their personal visions. It is impossible to separate the two, because a business should be an extension of your being.
Technical Definition -
If you are looking for a more technical definition, I would suggest reading an article posted by Small Business Encyclopedia. Click the link here.
The definition that the article provides is,
"The marketing practice of creating a name, symbol or design that identifies and differentiates a product from other products."
The hardest part is creating a "marketing practice" that is true to your company. What's true to your company is also what matters to the entrepreneur. Nine times out of ten the business reflects the owners personality. Just think about this for a second.. isn't it crazy how true that statement is?
Industry Leaders -
There must be a reason for certain brands to stand out. Have you ever asked yourself why this is the case? Many of these companies focus on delivering a consistent image, so that consumers will eventually recognize their brands when they walk into a store. The focus is towards spending billions of dollars a year on print, digital, social, and other types of media ads. Mega corporations can't be solely reliant on just spending. None of these businesses were started as mega corporations! The question then becomes, how did they develop market exposure without the large budgets that they use today? Who are the master minds behind these companies that we take for granted in society today? Believe, Stay Hungry, and Creativity are the three most important factors. Sometimes having a small budget is a blessing in disguise, because it will make you think in creative ways.
There is no short road to success, because then everybody could do what we do!
"Stay Hungry, Stay Foolish"- Steve Jobs
Sincerely,
Enterprise Warrior
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