#10 - Brand Equity: the Ultimate Powerhouse

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Transcript

So, I'm going to add a word to the word brand. And that word is equity, brand equity. What does that mean? Well, we know what brand means. equity is one way to explain equity is value or investment or asset. When you are passionate about your designs about your brand, or even you, yes, especially you, then that passion will feel your business.

That's when you start building brand equity. Not just in your brand, but in yourself. Yes, believing in yourself is crucial. And that comes from doing what you love all of these channels that we've been discussing will help you create your brand. And when you add it all up, and you have a consistent and cohesive story and a consistent voice, a message, you will have a very powerful brand. Let me tell you a little story.

When I worked at Ralph Lauren, many years ago, Ralph Lauren started with a tie. Yes, a tie. I'm not making this up, you can look it up to the research, Google it, whatever. And then from a tie, he started designing shirts to go with the tie, and then suits to go with the shirts to go with the ties. And that's how Polo was created. And then he designed women's wear and then he did children's wear and He designed activewear and then he went on to perfume and on and on and on and even even paints yes for painting the interior of your house.

If you go to your local Home Depot, you will find paint by Ralph Lauren. That's the power of branding. What value are you providing to your customers value on a consistent basis? Now you build a brand on three elements, reputation, relationship, results. Reputation involves communication. How often do you communicate with your customers?

Relationship involves connection. How are you connecting relationships build loyalty, and it creates a fan base. Once you have a good reputation and a good religion ship and you have a following a fan base and a consistent message and good quality product and merchandise. You're starting to build equity, you build value and you build credibility. When you have value, quality, trust, loyalty, you have brand equity. And that is potential for growth.

That is power. When you and your company are really successful, successful, you can scale it to an even bigger game, a bigger vision with more options for growth and expansion. Now, as you start this journey, you might experience resistance Meaning, you might have thoughts like, Am I good enough to do this? Or what if I fail and so on all these negative thoughts, don't go into fear. The universe always has your back. Get yourself in a feel good mood, and your day will be a much better day.

Easier, more productive with less struggle. Start with feeling good. Ask yourself How am I feeling right now? Whether you pray or you meditate or do journaling, or you have a vision board, whatever it is, create a morning routine that will set your day on the right energy so that you can enjoy the journey. So you see, when you have a strong brand, anything is possible anything is possible. So, enjoy the journey.

Okay.

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