If you don't have enough money to hold you until you get those sales tomorrow, then you're in big trouble. You're probably not going to be in business very long, or you'll have a lot of debt.
However, it's always a good idea to plan for tomorrow, because if you're always reacting to things today, you're always going to have to work hard just to keep surviving.
Working for tomorrow's sales is called branding.
Branding is the overall perception that your target audience gets when they think of your company. (Note: I stole this definition from Wendy Maynard's video, but it's a really good definition.)
Catch a key word in there...PERCEPTION.
Essentially, when people think of the TYPE of product or service that you sell, you want people thinking of you first.
Nobody does this better than McDonald's. Their food leaves few people raving, but everyone knows what to expect. They market better than anyone. THAT is branding! Their branding sells--not their food. They relieve stress, and they remind you that they can do that more than anyone else in the industry.
We have two (2) videos that explain this pretty well. They come from different perspectives and mention different concepts, but they both mention really important things.
Video #1: Good Branding Will Build Your Company (about 4 Minutes)
Wendy mentions some good points, including her definition of branding. It really is about helping other people form the perception about your company that YOU want.
She mentions a good example with Starbucks. Nearly everyone knows their logo and how each store will look inside. You even are never surprised by the smell.
You get the same experience, regardless where you are in the country. Starbucks provides the same experience that brought you there. This includes how they treat their customers.
Apple does a great job making the "Mac" computer the trendy computer. Nobody brags about their PC, but many Mac users curse at the possibility of having to use a PC. That's the outdated one that's not as good, or so they think. Great job by Apple!
Video #2: Tony Hawk Tips for Branding Your Own Company (about 7 Minutes)
Even if you're not a skateboarding fan, it's tough NOT to enjoy this video.
Tony Hawk is a skateboarding pro, and he is interviewed by a teenager trying to put together a magazine for other teens.
The teen asks Tony how he brands himself.
Tony gives some good tips. Here is his list:
- Keep control. Know the quality of everything that other people see that has your company's name on it.
- Know your audience. Know what is important to the people who might care about what you have to say or sell. Make sure that you talk WITH then--not AT them.
- Stay relevant. Keep a pulse on what is happening. You want to LEAD the change, not just follow it. If you need, hire productive people who truly LOVE what you represent.
He also mentioned another good point.
Keep it true. You want to keep things authentic, because people follow passions. If you are fake, it will not be compelling. Remember, branding is people's PERCEPTION, and most people can perceive when people REALLY believe what they are selling.
Branding is important, because if it is done correctly, you get sales tomorrow from what you do today. If it's done really well, you'll get more sales tomorrow, and the day after that, and the day after that, and...
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