And guess what? Your brand may actually be worth something. Have some equity. Some actual monetary value that — should you ever decide to sell your business — would help make up the total value of your company.
The challenge (or paradox) is that while your brand does have some sort of value, it’s very hard to pin down.
In the original Star Wars movie there is a classic scene where Obi Wan Kenobi uses The Force to convince Stormtroopers (the bad guys) that the droids he has aren’t the droids the bad guys want.
How does he do it?
He simply tells them, “These aren’t the droids you’re looking for.” Add in a healthy dose of Jedi powers and presto, the bad guys tell him to move along. Pretty cool right?
Unfortunately I think some business owners and their employees have taken that scene a little too seriously. Jedi mind tricks don’t work in customer service. You can’t just tell me to move along and think that I will happily go about my business, forgetting about your horrible customer service.
by Kirsten Simmons
Sounds like a pretty tenuous connection, doesn’t it? Energy cycles and your bank account.
But, if you stop to think about it, there’s a reasonably direct connection.
Think about where your money comes from. Whether or not you sell products, consulting, or work a 9-5 job, you’re essentially engaging in some form of trading time for money.
It might take a more roundabout route – you put time into creating value, and you’re reimbursed later when people purchase the valuable thing you’ve created.
So then, we can draw a fairly direct line between your time and your profits. Even in a 9-5 you’re still not going to be employed for long if you don’t provide some sort of value.
Given Americans love affair with boxing, pro-wrestling and now the UFC I thought it was time to host my very own small biz smackdown.
That’s right. It’s time for the first ever…
I mean younger
*ahem*When I was a 5 year old kid.
No we weren’t rich. No it wasn’t Uncle Joe who had 10 dairy cattle. It just was. Average people had fresh milk delivered on a regular basis.
Not anymore. So what happened to the traditional Milkman? He became extinct.
The Milkman’s entire existence was based on one method of delivery.
When people stopped using home delivery, they stopped using him. Sales is essentially distribution and delivery.