Conventional wisdom in the world of business involves graduating with an MBA. The degree teaches you principles that go behind running mature and young companies, how to avoid making so many mistakes, and even the theories you'll need to build a profitable brand.
When you step out in the real world again, it's exciting that some pieces of advice can be outright ignored.
Not to say that MBAs are horrible and don't have value. They do... To a certain degree.
The theory is good knowledge to have. But practice and experience is the best method to learn even more. And it's the real world marketplace is the perfect classroom.
Let's take a look at 5 branding lessons to gather a bit of unconventional wisdom.
#1 Do extra credit with books
Creating a brand means being ready to be a leader. It was a lesson that the founder of Dropbox, Drew Houston, discovered while he was still in college. He enjoyed his business with just him and his codes, but he read Daniel Goleman's book, Emotional Intelligence. It changed his perspective.
After reading it, he was convinced that if he wanted to make a big company with a big brand, he needed more than a degree and his intelligence to back it. That's when he began his journey by reading books about leadership, management, and business.
What can you get from this?
Buy or borrow as many relevant books as you can, preferably about management, salesmanship, and leadership. Talk and get in touch with business mentors, and try taking some extra classes on management leadership. And of course, don't forget to work harder than everyone else.
#2 Establish the why
Lots of big companies began their branding journey by acknowledging the "why." They aim to create products that change lives. Apple is a perfect example of this. They approach their advertising quite differently. Traditionally, it's what-how-why.
Apple takes that and flips the formula into why-how-what.
They start by promoting the company's reason for existing. Apple likes to promote the idea of thinking outside of the box and challenging the status quote.
Products will come and go. But your brand identity -- your brand personality, that's what needs to last forever.
So get everyone involved in comprehending the vision and the mission of your company. Get to the bottom of why you exist. Everyone should create a meaningful way for people to see your brand and not just your products.
#3 Make your own market
Entering an overcrowded market is an uphill battle, and the same can be said for a shrinking market. How do you guarantee your success? By creating your own market.
Take a fuzzy concept and turn it into a reality. Of course, there will be bumps on the road, but you can overcome those and dominate. Look past the horizon and exceed the limits. Search for markets that don't get much value.
If you see promising growth, launch a concept video to see how the market reacts. Get to work when you see the positive results.
#4 Do you know who your customers are?
Lots of companies are started by people who have built products for like-minded friends and family. When they start their business, they think they know who their target market is.
Sometimes you can have an idea where you think it appeals to one market, and then you find out one day that it actually appeals to more than the initial group you thought of.
So be adaptable. Don't put your brand inside a box. Release a product into the world and see where it goes. Furthermore, search for opportunities that you can exploit.
#5 Pay attention to details
Like the people at Brand Master Academy, brand strategists know full well that sometimes the best ideas are the simple ones. It would be best if you were meticulous, down to the last grain of sand. Pay attention to the details, and don't ignore the small stuff.
Most of the time, it takes care of the big stuff. Find a simple way to get everyone on the same page about your brand
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