3 Tips to Building a Million Dollar Brand
Guest Blog by Keenya Kelly
There’s a misconception out there that says you don’t need to really invest in your brand to generate revenue or have a successful business, while there is some truth in that, it is only half of the story. In the world of digital marketing and social media, it is VERY easy to get in front of a large group of people, present yourself or your business as (A) and convince individuals to buy a product or service from you. However, the average business owner creates a business in the hope of building a multi-million dollar business that will outlive them, well that my friend means that you MUST BUILD A BRAND.
Branding is what people say about you when you are not around. Think about it, you have a perception of Nike, Adidas, Mercedes, Apple and Samsung right? Well guess what, they built a brand that TOLD you what to think about them. For example, you only believe that Mercedes is a luxury because they or someone TOLD YOU that it’s a luxury brand, so when you SEE them you think luxury. The same things goes for you, you have to create a brand and then tell the world how to perceive it.
Here are 3 Tips To Building A Million Dollar Brand
1. GET CLEAR
Before you choose colors, fonts, have a logo designed and start building a website, get extremely clear on: Who you are as a company today and 10 years from now, what product or service you are going to offer and who you desire to target to purchase your offering.
One of the biggest mistakes business owners make is starting where you ARE vs where you desire to be as well as not being clear about your ultimate goals. When I started my branding firm, I was VERY clear that my company was not about ME. I didn’t want the colors to be my favorite colors, or the logo to be feminine or have my face plastered over the website, but I wanted a branding firm that business owners would be attracted to because they wanted a reputable company that could build a rock solid brand, NOT because I was a female of African American.
2. LEARN ABOUT BRANDING
You don’t have to enroll in a college or university, but I highly recommend that you at least begin reading articles on www.entrepreneur.com and www.inc.com about branding. I always tell my clients that you are very good at what you are good at, but probably bad at what you are bad at, but you HAVE to at least understand the basic of branding and your brand. Learning about branding will help you when you actually start the process with a brand consultant, otherwise, when you listen to them talk about you, your brand or their recommendations you won’t zone out and only hear the words of Charlie Browns Teacher.
You have to understand that when you build a million dollar brand that that brand may not look anything like YOU as a person, unless you are building a personal brand. I guarantee you the owner of Chick-Fil-A, his favorite colors are not red and white, but the branding firm he hired understands that what the color red means and make it makes their target customer feel, think and do.
3. DON’T BUILD YOUR OWN BRAND – INVEST
The letters DIY make me want to jump off the Brooklyn Bridge, seriously. Now I’m not a hater of Canva, Wix.com and the other sites that promote you to build yourself, however, if you are desiring to build a million dollar brand, you are going to need to INVEST.
Once of the worst pieces of advice I have ever heard is “just throw something up there.” I wish I would…. Would you buy a $40 steak from Ruth’s Chris is they just “threw something up there?” Answer = NO! I’m not saying that you need to invest $10,000 on a website if you are a $3,000 budget, but I am saying depending on what you are offering and your target customer, you may need to invest a little bit of money on hiring a team of designers to actually build your brand for you.
I personally, do not design websites, so I always have to hire a team to design for me. I have to invest the amount that they ask, even if someone else may be offering it at a slightly lower rate, for the quality that I am desiring for this particular brand.
If you are truly desiring to build a business that will go onto be a multi-million dollar business, I highly recommend that you start the way that you desire to finish. One piece of advice is, take a look at your competition. They may not be your direct competition, but if you are an author, coach or blogger and you know that Mario Forleo, or Pat Flynn or Oprah are where you ultimately want to end up, take a look at their brands TODAY and build from there. I’m not saying spend the money THEY spent, BUT you can invest in a designer that can give you that type of quality on your budget, I promise they are out there. I remember when I launched my brand, everyone thought I was charging $5,000 an hour to talk, but I was actually only charging $100, but my BRAND spoke what I wanted it to speak.
About the Author:
As an accomplished business executive, teacher and inspirational speaker, Keenya Kelly found her voice by writing & speaking about understanding your God-given purpose and living up to your fullest potential. She captures her audiences by conveying powerful lessons of overcoming fear, self-doubt, & divorce to creating successful six-figure businesses.
Keenya believes that when you identify with who you are at the core of your being, begin a journey of overcoming obstacles and self-doubt, you can achieve absolute greatness.
Keenya Kelly leaves audiences with a sense of empowerment and a call to action that encourages them to reach their full potential. She believes that everyone is equipped; people can do and become anything they put their minds to despite their starting points. Keenya has helped countless individuals and entrepreneurs realize how to finish strong. Her proven strategies will show you how you can be NEXT!