Are you planning to start a small business? Are you asking yourself questions like these:
* What’s the best home based small business?
* What’s the best turn key business on the web?
* What’s the best home business for women?
* What’s the best business to start for retirement?
The right question about your new business.
Out of 23 million small businesses in the United States, 75% are owned and managed by one individual. Consequently, the typical small business intrinsically reflects the owner’s values, tastes and personality. In many cases, the business also incorporates the owner’s name. Given this reality, the right question to ask yourself is this:
* What’s the home based small business best suited for my skills, talents and values?
The answer: The best new business to start capitalizes on what YOU do best!
As a typical small business owner, your personal identity is inseparable from your company, whether you plan it or not. The good news is, you can capitalize on your personal involvement by creating a distinct Personal Brand for your business. You can use Personal Brand reputation building as a marketing strategy.
Why does Personal Branding work for a home based business?
We count on brands to deliver specific results in just about every area of our personal and business lives. But, can a person create a market identity like a brand of shampoo? Certainly. And it doesn’t mean you have to think of yourself as a product and promote yourself like one. Instead, you adopt a thought process — or mindset — to intentionally apply brand promotion strategy to YOURSELF as the primary representative of your new business.
You can build a successful new business by building a strong Personal Brand reputation. Deliver consistent value in your personal business interactions and you will enjoy more customers, more money and more respect for what you do. This reflects the principle of ‘more for more’ that works for corporate brands.
Think about it: What brands come to mind when you think about top-of-the-line automobiles, cosmetics, hotels or other items? The brands that came to mind have strong brand identities. Strong brands deliver consistent value, command premium prices and produce higher profits. Strong brands get ‘more for more’! This principle of ‘more for more’ that works for corporate brands can work for your Personal Brand too. For most solo business owners, it is essential to start your new business with the goal of building a strong Personal Brand reputation.
How do you create a strong Personal Brand?
Creating a Personal Brand requires a willingness to look at yourself from the inside out. When your talents, personal style and passion for your business are in alignment, an authentic Personal Brand emerges. YOU become distinctive and remarkable — in WHAT you do — and HOW you do it.
Branding is an integrated marketing approach. To create a strong Personal Brand — and a strong business — you have to understand and apply these fundamental marketing principles:
* Know your target customer: who they are, problems they face, and what motivates them to buy.
* Identify your true competition, alternatives your target customers consider when shopping for products and services like the ones you offer.
* Be clear about how you are both different vs. the competition AND relevant to your target.
* Create a marketing plan to communicate your brand message consistently to your target customers.
You don’t need a catchy slogan, fancy logo or clothes that match your marketing materials. And you don’t need a big budget. You only have to invest in establishing your Personal Brand within your target market space or niche.
Gain competitive advantage with a Personal Brand.
Very, very few small business owners will establish strong Personal Brands. Creating a Personal Brand takes time and commitment: To gain insight into yourself, to think like your customers, and to communicate your brand in a compelling way.
If you are searching for small business owners’ tools for success, consider a Personal Brand strategy. You can enjoy more success when you base your business on who you are, what you are passionate about and what you do best. Start the best home based business for you — build a business based on your Personal Brand.