“The business enterprise has two, and only two basic functions: marketing and innovation. It is not necessary for a business to grow bigger; but it is necessary that it constantly grow better.” Peter Drucker
Innovation and new business ideas emerge party from inspiration, but mostly from hard work. You must establish the right roles and processes, set clear goals, require relevant measures and review progress at every step of the way.
Even the most astute executives may not recognize a great opportunity when it presents itself. What then can we learn from both inside and outside the organization? How do you decide which bright idea to back and identify that will yield success?
It starts with Personal Brand.
A personal brand is the powerful, clear positive idea that comes to mind whenever other people think of you. It’s the values, abilities and actions you stand for; who you are, what you do, and what makes you different or how you create value for your target market.
Instead of starting with segmenting, targeting, product, price, etc., you start with YOU. You define who you are and what makes you unique, and then you build your brand around that core set of values. From there, you identify exactly what segment of the market you want to service and how best to do it.
Effective branding often means targeting a smaller, better defined market with a much more focused message. Although it may seem counter-intuitive, the smaller you make your target market the greater your chances of success.
In Tom Peters’ words, “branding means nothing more (and nothing less) than creating a distinct personality and telling the world about it.”
What are you doing to develop your personal brand and find your next BIG idea? How will it impact the people that you lead? I would love to hear.
Never miss an issue of Linked 2 Leadership, subscribe today here!
Learn, Grow & Develop Other Leaders™