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The Startup Life

Dec 11, 2017

In this episode, we discuss the difference between a business and a brand, why running the business right is crucial, and how to pick your brand archetype. Opening Monologue: Are you building a brand or a business [2:21] SEGMENT 1: The Differences Between Building A Business And Building A Brand [2:28] The brand transcends the business [3:21] Coke & Pepsi are much more than a carbonated sugary drink [3:46] The difference between marketing and branding [5:20] Chipotle and Moe’s brand [7:40] Building a brand is about making it personal and relatable to the marketplace [10:43] SEGMENT 2: Pros and Cons of Building A Personal Brand [11:48] Pros & Cons of building a personal brand [11:52] Pro: A personal brand allows you to be flexible [14:25] Pro: Allows you to develop a speaking career [15:01] Pro: Great for one person industries [16:02] Con: Can sometimes come off ambiguous. Lacks instant credibility [17:44] Con: Requires a lot of selling because no one knows you [19:35] SEGMENT 3: How To Create/Scale Your Personal Brand [19:45] Figure out what you are good at or what you like to do [21:27] Find your social/digital platform [25:19] Be willing to collaborate with others [26:58] Build your website [27:27] Do not use a Facebook personal page for a business [29:00] Capture emails [29:44] Launch some products [30:32] BREAK [32:08]Segment 4: Making Sure You Are Running The Business Right [32:46] Pro: Building a business brand forces you to think about the business [33:22] The difference between a Mission Statement and a Vision Statement [34:30] Why brand consistently is so important [35:15] Pro: Business brand allows you an easier path to close a sell [36:21] Con: Its still hard work to build a business brand [36:53] Con: Not as much flexibility with switching to something completely different. [37:46] You still have a business to run [39:37] The transition from entrepreneur to business owner [41:10] Not everyone has it in them to be there own boss [41:43] Always remember the big picture [42:05] You must delegate [43:41] Stay motivated/The money always comes last [44:51] The ability to make tough decisions [45:06] Understand the risk [45:23] Work/Life balance [46:10] Know Your Numbers [46:52] Segment 5: How To Create/Scale your Business Brand [47:01] Define your brand’s purpose [47:50] Good brand strategy [49:22] Tell a compelling brand story [50:48] Choose your brand archetype [52:24] Have a motto, mission and vision statement [53:11] Your brand is much more than a logo and will not sell itself [53:35] Use good imagery [54:10] My Final Take [55:21] Ending Credits Want gear from The Startup Life? For ACT Prep from OWLS. Need great teaching resources? Click Here! Have comments or want to advertise on The Startup Life? Looking for a nice co-working space in Memphis?