Young: Entrepreneurial enthusiasm drives brand success

How does one open a new era of an entrepreneurial venture while still operating under an existing personal brand?

I would suggest social media is not the only phenomena in our world today.

I regularly experience the presence of the “branding syndrome.”

This is a significant concept in product , personal and concept design marketing that assists in the selling process.

I am besieged by the phrase with many of the clients I meet, particularly in encounters with young entrepreneurs and small business owners.

So let me explore this concept a little further.

With our unemployment still fluctuating like a roller coaster, company downsizing continuing to confuse, our economic future causing bewilderment to many Canadians, one topic remains constant—entrepreneurship is a hot button item of discussion.

Starting one’s own venture provides a means of making ends meet while doing what you love.

Although entrepreneurship truly does mean risk, it allows for creativity and autonomy. Even with statistics highlighting apparent business failure rates for start-ups, entrepreneurs who fail still have a better chance of succeeding at their next venture having learned from their past experience.

When any entrepreneur brands their product, business or concept, invariably that entrepreneur becomes associated with that brand—i.e. Bill Gates with Microsoft and Steve Jobs with Apple.

That’s all fine until a successful entrepreneur decides to shift gears and consider a new unrelated venture—common for the serial entrepreneur.

But it does pose the question: How does one open a new era of an entrepreneurial venture while still operating under an existing personal brand.

If the two entities are grossly unrelated, you will likely not be able to use your existing brand reputation to attract clients for your newest venture.

Another side issue sometimes is the possible loss of credibility with existing clients—they may assume you are taking on a new venture because your existing business is not doing well.

While your entrepreneurial spirit and energy should unquestionably be applauded for creating new opportunities, unfortunately we live in a society accustomed to assuming the worst when people take on extra work burdens.

But in your journey to establish a powerful brand, always be authentic.

People connect with real people and generally can spot superficiality.

Stick always to your core values and beliefs and base your brand off of them.

In essence, never compromise your values nor the image you wish to project.

The devotees you may create will always have certain expectations about your brand.

If you disappoint them by falling off-track, you may lose them forever as loyal fans and customers.

And be unique. Live by the motto “Distinct or extinct.”

If you don’t differentiate yourself as an entrepreneur, no one will pay attention to you or your venture’s objectives.

Figure out what makes you different, then tell your tale to the marketplace in a compelling attention-grabbing fashion to create the magnet that will draw in your customers and retain them tightly.

No question, you must innovate constantly, another hallmark of the entrepreneurial journey.

Because if you don’t, you will find your grasp on the market slipping through your fingers at a rapid pace.

And always look to surround yourself in business around the right people. As an entrepreneur, you will need a strong support system of family, friends and business associates.

The people around you influence your career, family life and, entrepreneurial venture success.

Surrounding yourself with people you like, trust and who are not toxic in the workplace.

When we are authentic in our entrepreneurial endeavours, we humanize ourselves and our ventures.

When we are unique, we stand out and shine in our industry, which will attract new venture opportunities our way.

Kelowna Capital News