Why a Successful Business is Not a "Brand" and the Importance of Becoming a Brand
One of the ultimate goals of every new business is to become a brand. Yes, some might use the term successful, however, not all successful business is a brand. There are a lot of successful businesses today that are not a brand… sales and profits makes a business successful. In other words, once a business is able to continue making sales, make and increase profits then that business is a success. It is as simple as that. The ultimate goals of every business is to make profits and continue to increase profits. However, making sales and profits doesn’t turn a business into a brand just like that. There are businesses that skyrocketed from nowhere into a big business overnight… this is very possible in the world of business. You can create a product that becomes an instant hit due to favorable factors. But becoming a brand does not and cannot happen overnight.
A brand is the image or identity a business projects… it is the perception people have for the business that determines if the business is a brand or not. Apple is a well-known brand, Nike is another well-known brand, Microsoft, FedEx, Amazon, Adidas etc are all popular top brands… yes all these companies make huge profits and are highly successful when it comes to sales and profits… however, they are not brands today because of the number of sales they make or the amount of money they make annually as profit. There are businesses that are not popularly known that are making huge profits as well by selling hot products but a lot of those businesses are not considered brands. A brand is a totally different ball game to success… yes success is one of the elements of a brand, it is a whole different ball game to grow a business into a brand.
If you as a lot of new business owners or small business owners or people who want to start and build their businesses what they want to achieve in their business… a lot of them would say that they want to grow their small business into a big business, they want to build a business that makes a lot of sales and profits… while this is a very good target to aim for, becoming a brand offers a lot more rewards and benefits in the long run than just sales and profits. A lot of businesses are not in existence anymore… a lot of these businesses where top dogs or successful back then, went out of business because they couldn’t make enough sales anymore to keep up with their size, due to factors that went against them. This clearly shows that that there is more to business than just plain success. Success can happen overnight like I said earlier, but maintaining the success is where the challenge is. Sales and profits turn a business into a successful business, but sales and profits cannot keep a business successful.
Certainly a company can be successful selling products of certain brands, but the buyer does not see it as such, so it is important the originality of what you market to become a brand. All the companies you have named became a brand through products created by them, which indicates that a brand resale company will rarely be a brand. This sets it apart from the others. @tipu curate 2
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Very correct. A lot of businesses are successful because they are selling hot products that are in high demand... because they are successful doesnt mean that they are a brand, becoming a brand takes time and there are other factors that must be in place for a business to reach that brand status
That is true, it is a completely different thing to build a brand and experience business success.
When it comes to building a brand, it takes a more consistent effort to make that happen.
Yes, successful business and a brand are two totally different things... A business can be successful but not a brand. to become a brand, there are a lot of factors that need to be in place and also becoming a brand takes time and is a process.
Hello @designieplay.
I believe that the success of a business is to activate a series of elements that when combined together elevate the success of that business, however the brand and the fame it achieves will make it successful in the long run.
Greetings and thank you for sharing valuable information.
You have made some really valuable points... Yes, success of a business is just one element of the business becoming a brand...
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Yeah , a successful business and a brand are quite different. There are different levels to success but with a good brand you will definitely be successful even if you make sales or not. Nice piece
Yeah, you are very right, there are levels of success when it comes to business,
A business can be successful on the short term, but a brand will remain successful on the long term