See Amazing Entrepreneurial Principles To Boost Your Brand!
Brand principle are standards that keep your business soaring and progressive. Without them, you may be on a voyage to failure. This is a continuation of the 50 shades of 21st century enterprising.
Enjoy your read!
26. Sometimes, you might have to bend your standards.
An enterprise is a product of system and people. No enterprise exists without people. When you realise that the standard that is protecting your system is not attracting customers, or is too costly for your customers to maintain, you will have to adjust your standard.
This is a very important brand principle.
When the great Lord discovered that He’s losing customers and is finding it difficult to acquire new ones, He was forced to readjust His standards. In fact, He changed the entire business revenue model.
He adopted the subscription business strategy which gave birth to the new testament story and the coming of the Messiah.
Now everything is free to anyone who subscribed -believe in Jesus Christ. (Biblical)
I think there’s something we can learn from the Master Entrepreneur.
Most companies adopt the subscription business revenue model. Apart from Amazon Prime, Netflix, Irokotv, etc that use paid-subscription strategy, you must have realised that almost the biggest and most-profitable empires in the planet operate with the free-subscription business model: Christendom, Google and Facebook.
Can you build an enterprise that can work on such strategy? Then do.
27. You will have to learn to give people the Benefit of the Doubt.
Thsi brand principle works for all brands.
Yeah, people will screw up. They always do. But there’s a 0.9% chance that they won’t. Don’t miss that opportunity.
You can choose to lock up your entire window because of mosquitoes and risk suffocating to death. Or you can keep your windows open to enjoy some ventilation but stay up all night chasing mosquitoes.
It is about what you want. Nothing is safe in life. Life is all about risk. You either take risk to win. Or you take risk to lose.
The system you build as an entrepreneur is for people. You’ll be working with and for people. Give people the benefit of the doubt. You have to. I don’t mean trust yet. Trust is so expensive that in a country like ours no one can afford to sell his or buy another’s.
It is ok to invest money into people’s business, it’s ok to allow people work your dream with you, it’s ok to consider someone’s skills/suggestions, it is ok to let people enjoy the services of your enterprise, …
Think we, believe in us. There is a greater chance that we’ll screw you up. But what if we don’t. That should be your motivation.
28. Uneasy lies the head that wears the crown.
You can choose to stand out from the crowd, take responsibilities and lead as a king. Or you can choose to be a crown and hope that someday you’ll get picked.
Crowns are beautiful. Kings need them.
But the thing is: it is easy to buy one more crown because they are a lot of cool crowns. And crowns are only valued when they are identified with a king.
We are experiencing ‘crown-boom’ in Nigeria.
We have the Steve Wozniaks…
I want you to know that the story about Nigerians not being employable is a lie. We have a lot of smart guys with great skills and talents in this country.
There are skilled graphic designers, software developers, content creators, script writers, digital marketers, fashion designers, engineers, artists, mathematicians, name them.
But they can’t find a Steve Job. A guy who can connect great talents together to create stuffs that are revolutionary, a guy who has the magical touch to transform dreams into tangible assets, a guy who knows how to sell beauty and luxury.
(I know a good number of amazing people who wanted to work with me when I showed them a glimpse of the Yhongh’s dream -formerly Tonée. Only that we can’t handle responsibilities of so many people at this stage in the company.)
We have the Eduardo Saverins…
“The economy is bad. Things are hard,” is a common expression among our people. But an average nigerian spends exorbitantly. It’ll surprise most of us if we are to calculate our yearly expense. There are people with money, there are people with business connections, there are people who are looking for where to convert their income into cashflows.
But they can’t find a Mark Zuckerberg. A guy who can build a business that will convert a million naira into a billion dollar, a guy who can sacrifice delicate stuffs for what he believes in, a guy who can pull multitudes into a single tribe.
We have the Paul Allens…
Ideas are not cheap. Ideas still rule the world. But ideas are worth nothing when they can’t acquire a pecuniary value. There are great people who think up amazing ideas on a daily, people who have the solution to every problem in this country in their heads, people who can dream.
But they can’t find a Bill Gate. A guy who knows how to convert ideas into money, a guy who is energetic and focused in working out dreams, a guy who is smart enough to know how to turn little ideas into great global impact.
The content of the shades can resonate with anyone but they are exclusively targeted at entrepreneurs. People who can choose the difficult path, people who will build the 21st century companies in Africa, people who are ambitious, people who feel a spiritual obligation to enterprise. The shades are guide, arms, energy and wisdom they will need for the journey.
Can you be the head we need? Are you the king we are looking for?
29. The worst business is The Business of Pity. Never expect people to patronise your brand out of pity.
I love this of all brand principle. There’s this message that circulated sometime last year: it encouraged people to buy cards from roadside sellers and small businesses and to stop recharging from Banks because they are already big and greedy.
It also discouraged people from tipping hotel and restaurant staffs while they bargain hard and won’t even tip roadside sellers and hawkers.
Terrible! Who does that?
Every penny we spend from our pocket is a bargain for our own personal interest. Business should be business. Stop bullying friends and relations to buy from you because you are one of them. They will hate you more. If you want a charity project, build it. But if you want to build an enterprise, then make it a business.
I don’t buy card because someone need to sell his/her product. It’s because I need it. If my bank is the easiest way I can get it, I won’t hesitate to buy from there.
I don’t tip the waiter because I want to feed the world’s hungry; it’s because of my personal interest. Perhaps, it’s my way of getting extra-better service whenever I’m there, perhaps it’s my way of appreciating him/her for a good service, perhaps s/he is attractive to me, …
Believe me, that ‘tipping stuff’ does a lot of magic.
During the last xenophobic attack, people asked us to close up and stop patronising South African companies in Nigeria. Maybe I was also expected to break my MTN sim card and start using Glo since Glo is a Nigerian company.
Most of South African companies here are exceptionally awesome.
People have said, “the government should promote our effort and business. They should patronise IVM.”
Some of these people own cars and none of them is Innoson. And it’s lousy if IVM keeps expecting us to buy her because she is ours.
They only need to work on their storytelling and products.
What we don’t often understand is: people don’t need the needy. People are attracted to big and class.
There’s this American YouTube Channel, Angrypicnic, the guy did a video of an homeless begging for money and a big guy asking for money to buy a lamborghini. After 1hour, the homeless lady only got two donations. While within 30mins, the big guy received 7donations.
The day “God” become poor, everyone of us will follow Satan. People don’t give tithe to the poor neighbours and relations, they give it to their rich pastors.
There’s what is called Luxury Brand. Build an enterprise we’ll want. Build for the elites and tell a story of class.
It started with a BIG God down to a BIG universe and then You.
We ain’t got no time for pity. It is rather smart to build an enterprise your enemy can’t help but use.