Welcome to the very first BYOSB newsletter. Given that we haven’t got any subscribers yet, you’re probably reading it sometime in the future, by scrolling back to this one.
In my consulting journey of the last 4 odd years, I have come across a number of entrepreneurs who have craved a following for their businesses, but don’t really know where to begin.
The answer is quite simply, in Brand building. Everything begins with the Brand.
Entrepreneurs in general, and we Indians more so, tend to focus on efficiency.
This naturally inclines us to operations, processes and manufacturing capabilities / ‘making’.
We take great pride in our ‘making’ and rarely do we see this translated in the ‘selling’ or even in the ‘inventing’ part.
Most of our legacy brands were built on the might of their ‘making’ ability.
If they could make something good for cheap, they built a brand over time. Think of the
Tatas, Godrej, etc.
This is also largely driven by the scarcity mindset of the ‘socialist’ India.
Much has changed since and continues to change at a rapid pace.
A period of abundance beckons.
Not just of purchasing power, but an abundance of choice.
Today, manufacturing is the easy part. Not unimportant, but easy.
If you can think of a product, you can find somebody to make it for you.
No matter what business you’re in, if it is worth copying, it will be copied. Sometimes even improved upon.
All that differentiates your business from your competitors will be the narrative.
Telling relatable stories and then living up to the what you say is going to make all the difference.
When the story you intend to tell matches or even closely resembles the one consumers hear, is when a Brand is born.
When a Business becomes a Brand is when true value creation begins.
In this weekly newsletter, I will share inputs, tips, opinions, data and ideas how you can Build Your Own Super Brand.
See you next week.