Today almost everything is about the brand which I define as the sum total of who you are, your core values, how you handle your business, etc. Whether you’re looking to publish a book or launch an online store selling the next big thing, understanding how to develop a brand is vitally important.
Below are some things to think about:
#1 – Who is your Customer?
So who are you building your brand for? Why do they need your product, service, or information? How will you benefit their life? What problem are you trying to solve and how do you know it’s really a problem that needs solving? These are just a few of the questions you need to have solid answers for if you’re planning on launching a business. Take all the time you need to get and validate these answers before you do anything else.
#2 – What is your Product/Service solution?
If your idea really ‘new’ or are there other players already in the marketplace? How will you be different? Will your target customers perceive your difference? Again, Take all the time you need to get and validate these answers before you do anything else.
#3 – Who is your Competition?
If your idea really ‘new’ or are there other players already in the marketplace? How will you be different? Will your target customers perceive your difference? Again, Take all the time you need to get and validate these answers before you do anything else.
#4 – What Business do you Really want to be in?
Do you really want to open a studio/store or would selling to other studios/stores be a better idea? Do you need to manufacture your own product or is it better for you to sell your product idea to a larger entity for a percentage of the royalties? Decide what business you want to be in based on the type of life you want to live.
