Richard Branson Quotes

You have just started a company and believe that your product or services are already proving to be popular. Sales are up, customers are happy and you think that your business has made it. Well, not quite really. Your company will do well only till such a time that another new company comes along. If they have a product or service that is better than yours or they are able to market it better than you, you will soon find that new sales are down to a trickle and that even some of your old customers are thinking of leaving you. One solution is of course, to keep talking to customers to understand what you can do to improve your product or service. The other and more overlooked aspect is of building your company name and brand. In fact, your brand name is one of your most valuable assets and the best way to retain customers and build value in a business would be by learning how to build your brand.
One of the masters of branding is Richard Branson of the famous Virgin group of businesses. In some of his books, Branson has spoken about the importance of brand building and how powerful this concept could really be. Branson emphasized in his book that businesses should leave no stone unturned to build their name and that of the brand. They should make sure that the brand is associated with quality and customer service as also with honesty and commitment. This will not only help attract prospective customers but also give old customers confidence that they are associated with a company that has such a respected brand name. Richard Branson also mentions that even for managers and owners, a brand name can help provide them with stability and support when the going gets tough for while.

For example, he mentions how he came close to losing everything he had while he was trying to grow his Virgin brand and business. And not once or twice but several times. However, he had a vision about what he wanted his brand to represent and he did not want to rest till he had achieved that. He states emphatically that in business, one has to take risks and that not all risks work out the way one planned it. In such instances, he says, it was the power of his brand that held him together and the firm belief that it would achieve the kind of success he was hoping for.

Of course, Branson also has a word of advice for all business owners and managers. He believes that each and everyone working in the company and under the brand should be firmly committed to the success of the brand and that they should contribute to the brand equity. They should work in a way that will enhance the standing of the company. Anyone who does not or in fact, tends to harm the brand should be cut out. Single-minded focus from everybody in the company will help your business become a successful brand name.