Building Your Personal Brand

Take a moment to think about your favorite store - the one you love to shop at - the one that always comes to mind first. Now think about why you like it so much. Is it because they're merchandise is always overpriced when compared to the competitions'? Is it because they treat you as more of an interruption to their day, rather than the valuable customer you are? Probably not.

Chances are you like your favorite store because they have worked hard to get your business. They have worked hard to provide you, the LIFEBLOOD of their business, with plenty of value. They have worked hard to plant the seeds of loyalty so that you will continue to think of them first when looking to fulfill a need. They have worked hard at building their brand.

So how important is it to offer VALUE to be successful in building your Personal Brand? Let's look at the story of two nearly identical businesses.

This is the story of the battle between two major chain discount department stores that went on in the city where I live. Store A had been around since 1949 and had three strategically placed locations within our growing mini-metropolis.

Store A had some of the best deals around on clothing, shoes, and housewares. It was the place to go if you wanted to avoid the bigger-name department store prices. This chain had worked hard to build its brand by offering VALUE to its customers, and in the process they gained a hugely loyal customer-base.

Along came Store B, new to our city and in the discount department store business 13 years less than Store A. Store B looked nearly identical to Store A, carried nearly identical merchandise, had worked hard like Store A, to build its brand and provide value to its customers. Store B promptly opened up two locations on opposite sides of our city, in areas where single-family homes were popping up like weeds in an empty dirt lot.

Which store won the battle? Which store had staying power? The one with the best locations? The one with the established customer base in our city? OR the one which provided the most VALUE as an integral part of their brand?

Before Store B came along, Store A had built its "brand" around the slogan "Big Brands. Small Prices." If you needed a good deal on bedding for the new bed you just bought, or just a new pair of shoes, this was the place to go.

Store B had no catchy slogan, but their mission was to provide "a value-oriented, family focused department store." Their goal was to "offer our customers the best value in any given market. Our pricing strategy emphasizes value by offering attractive prices. . ."

I'm not suggesting that having a catchy slogan doesn't help to build a company's brand, it certainly can and has for many very successful companies throughout the years. In fact, a catchy slogan or phrase is a great way to provide some consistency in the building of your own personal brand.

Store B, without a catchy slogan, but with a mission to provide as much value as possible to their customers, eventually prevailed in this retail battle of survival. They CONSISTENTLY provided a rewarding shopping experience. They always made it worth YOUR TIME to visit their store, sometimes offering every item in their store at a discounted price!

In short, Store B offered just enough extra value to essentially put one of their main competitors out of business.

So, how important is it to offer your prospects VALUE when building your own personal brand? Very, if you want to stand out and compete successfully with the other 23+ million entrepreneurs out there (and that's just in the United States)!

Seriously investing in building the "You Company" is crucial to being successful with your business. In this highly competitive world, it could literally be the difference between amazing achievement and miserable failure.