How is your estimation?

One of the biggest challenge business owners have in building a big brand is to grossly underestimate the effort and financial requirements that brings you there. Whatever you have budgeted, up it 10 times. If you don’t have that, make it a goal to reach that and put plans behind it that will get you there.

What does it take?

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Who is the competition?

Don’t worry about the competition. Worry about your own determination to be the best that you can be. Do you act like you can commit your brand to be the best in its category? Does your action support the notion that you want to be dominant? If you aren’t dominant, your stronger competitors will eat you for lunch. Start growing your brand and making it strong before you worry about the competition – think domination, not competition.

Are you dominating?

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Who are you proselytizing?

I first heard about churn rate when I was handling a telco account. This term is typically used in subscriber-based businesses like telcos and pay-tv. But it is a term you should adopt. Every brand has a churn rate. The lower your churn rates the better. The more non-believers you can proselytize the better it is for your brand.

Are they converting?

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What are your marketing?

When you talk about marketing most people will think sales. Getting sales need not just be about promotions. Adjust, tweak or change any elements within your marketing mix can be some of the things you do in order to get your brand on a positive trajectory. The trick, of course, is to tweak the right “P” in the correct quantum.

How can you sell more?

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What is your stance?

Picture credit: sinchew.com.my

A buddy’s grandfather’s 60 year old sundry shop was changed to being a biscuits shop recently. Business has been sliding for years and the family needed to do something about it. An aunty who took over the shop decided that they would sell biscuits and nothing else. Business has never been better. They are attracting people from far and wide.

Don’t be everything to everyone.

Taking a position means not having everyone like you. But it also means you will get fans. It may sound risky to have some people not buying from your shop, but that is the safest thing to do

Who hates you?

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