Your Most Important Business Competency Is Branding

The story about your product is becoming key to leveling out the playing field among the competition.
Author, Profit First
March 18, 2013

Branding and positioning have never been taken as seriously or as passionately as the quest for the best product. But with so many great products getting to market faster and the ability to convey a message to just as many people as a larger corporation, it’s the start-up company with the best marketing, and the best ability to engage and communicate, that wins.

The Internet is currently the country’s great equalizer. As technology continues to advance at an exponential rate, small businesses continue to gain tools that put them on equal footing with big business. Now smaller companies can get the word out faster, and at the same or lesser cost than a large company. They can also make decisions with more soul, humor and finesse since they aren’t hamstrung by cautious decision-making by humongous committees and boards.

So if everybody is just as aware of you and your big-business competition, and both you and your competitor make a great product, how do they determine which works better for them? It’s all about the story. It’s all about what makes what you do unique. Build your brand around your story and do it now, because the better story will always win.

[Tom Tunguz]

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Photo: iStockphoto 

Author, Profit First