Choosing the right business model is as much of a brand decision as choosing a logo direction. When you decide what products or services to offer and how you charge for them, you’re making a brand decision. I’ve seen a number of businesses (especially local businesses) that offer so many products and services that their original name doesn’t even fit anymore. Most recently, I met with a business owner that had the opportunity to expand into multiple business categories and tried to do it all under the same name/brand. The categories had drastically different audiences and it’s left him with a generic brand that appeals to no one.
Our goal in branding is to own a category in the mind of a consumer. We have to think about that from a business model standpoint as well as a messaging/visual design standpoint. You can’t be everything to everyone. If you have opportunities to expand into other markets, perhaps its time to create a sub-brand or spin-off a new business altogether. And sometimes (or oftentimes), it means saying ‘No’ to those opportunities. Don’t let opportunity dilute your brand. Especially if you have a good one already.
We’ve worked with a number of start-ups to help them develop the business model that feels right for their brand. Whether you’re a technology startup, restaurant, or a brick and mortar business, the quest to find the right business model that fits your brand is a fun exercise that really exposes you to all the possibilities that you may or may not have considered. We love the process.
Recently, we at Elevate have been thinking about how to continue to focus our business model and align it with our brand values. We are working to refine our service offering so that we are always operating in our sweet spot and that our brand values are communicated clearly through our model. More on this later. For now, ponder these questions:
- Have you chosen the right business model for your brand?
- Areyou saying ‘yes’ too much when you need to say ‘no’ and protect (and not dilute) the brand you’ve already built?
- Do you need to create other brands, sub-brands, divisions to cater to a new opportunity?
- Do you need to be more intentional with your business decisions to insure consistency with your brand values?
I would love to hear your thoughts below.
Subscribe
Thanks for sharing your thoughts on this topic, Jake. It’s an area that I’ve been pondering about a lot lately too. I think there are some rare cases in which a company can be so specific (selling metal fasteners to an airline carrier, for example, and that’s all they do), that their brand is just unrecognizable and a mystery to the common public. I’ve actually worked with a company who manufactured exactly that and they could care less about their branding because their sole customer was the US Department of Defense. I don’t like that approach though. I think a brand should always have clear objectives that are transparent to anyone, especially in the mind of the consumer, like you stated.
Aside from that tangent, your last paragraph resonates with so much of what I’m experimenting with with my own brand and I can’t wait to read about the services you decide to refine and your reasonings behind it
Trevan,
Thanks for your thoughts. Companies like that are not building a brand, but rather fulfilling a need. Unfortunately, if their bread & butter client left, the business would probably tank. However, if they considered their brand and how they could create meaning and value for their customers beyond the bottom line, they wouldn’t be so dependent. They should do so now before it’s too late.
Hello There. I found your blog using msn. This is a really well wtriten article.I’ll make sure to bookmark it and come back to read more of your useful information. Thanks for the post. I will definitely return.
I will be ptutnig this dazzling insight to good use in no time.
Great info here. I’ve been looking for soiehtmng that would help me get to the next level. Any other locations you know about where I can learn more?
That’s way more cvleer than I was expecting. Thanks!