Just like a personal reputation, a brand relies on how its perceived by others in order to determine success or failure. That loyalty will boost a brand exponentially, increase word of mouth and save the company’s butt in times of crisis. When you build up enough strong brand equity with your loyal fan base, they are more willing to forgive when you make mistakes. Look how Jet Blue recovered when they had some massive delay issues due to winter storms a few years ago: they had built up so much goodwill that their “brand bank account” could take the hit.
If you are consistent and authentic with your brand, you can rely on others to evangelize for you and stand by you when the chips are down.
As an entrepreneur, you also need to rely on others to build a strong business. I don’t care if you are a solopreneur: you can’t do it alone. You need legal advice, marketing expertise, accounting skills. It doesn’t make sense to try to master it all when you cannot. We all have skills gaps and it’s the smart entrepreneur who knows when to seek out the right help to go further than he/she could alone.
In this lesson, I talk about how my “tribe” was an essential part of my recovery from a freak brain aneurysm. Even an independent gal like me had to learn to ask for help, accept support and rely on others if I was ever going to get back on my feet again. It’s true in business – and it’s true in life: no one is an island.
Watch the juicy video for Lesson #3 here.
Where do you seek outside expertise and objectivity in your business? Can you let go enough to really allow it to take off?
BACKSTORY TO THE SEVEN LESSONS: What do recovering from a brain aneurysm and branding have in common? Quite a bit, it turns out. Recently, I got the wonderful opportunity to share my dramatic story at a Women Business Owners luncheon and I promised I’d post the lessons here for everyone. This is a seven-post series.
Lesson #1: Focus (and backstory to the series)