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Saturday, February 23, 2019

5 Steps to Creating a Winning Brand

1. Clearly define your business or blog idea.

To create a wining brand, you need to have a clear place in the market. Think about what makes your product or service different versus others in the marketplace. Once clear on what you offer and where you’ll play, focus on how you can do it in a superior way.

2. Have an ‘ideal’ for your business or blog.

Successful brand are typically fueled by a bigger vision or ideal other than financial success. An ideal serves as a guideline that will keep your blog or business on track and help it become a brand than another product. This will help set up a solid loyalty with like-minded customers. To find this for your blog or business fill in the blank: “We exist to —”

3. Identify your target audience.

Your product or service won’t appeal to all consumers in the marketplace, and it can be very expensive to try to do so. A well-defined target will help you build a better product or blog and come up with better ideas. Create a vivid picture of your ideal target consumer, and focus your efforts on them.

4. Understand your business’s math.

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You need to understand the basic math that determines how viable your blog or business can be. You should be able to answer simple questions such as “How much does it cost to produce the product (time, energy, money)?” or “How much do I sell it for?” or “How long will it take to pay out?” A successful business is one that creates value and generates profit.

5. Have a plan written out.

Draw up a branding plan — a physical document that describes what your brand to stand for, what you’ll offer, which customers you want to attract, how you’ll reach them, how you’ll make money (this is your business model) and how you’ll measure success.

This not only brings discipline to your business endeavor, but also becomes the business plan to share with potential investors later on for your future!

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